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Looking for the best Amazon hacks to save money? If you’re like me, you’re always looking for ways to save a little extra cash, especially when shopping on Amazon. Sure, Amazon already has great prices, but what if I told you there are even more ways to cut down your costs? Over the years, I’ve…

Looking for the best Amazon hacks to save money?

If you’re like me, you’re always looking for ways to save a little extra cash, especially when shopping on Amazon. Sure, Amazon already has great prices, but what if I told you there are even more ways to cut down your costs?

Over the years, I’ve found so many helpful tips and tricks that I couldn’t wait to share them with you.

Whether you’re a frequent shopper or just looking to make the most of your Prime membership, these 15 Amazon hacks will help you save money you didn’t even know you could! From using price-tracking tools to earning free gift cards, this list covers everything you need to know to save money.

Recommended reading: 7 Ways To Get Paid For Amazon Reviews

15 Best Amazon Hacks To Save Money

Below is what you need to know about the best Amazon hacks to save money.

1. Use coupons

Amazon often offers promo codes for thousands of products, and sometimes they’re automatically applied at checkout.

To find coupons and deals, go to Amazon’s homepage, “Today’s Deals” or search “Amazon coupons” in the search bar. Doing this will show you a list of the best deals on Amazon for the day which can include items like cosmetics, household supplies, electronics, and almost anything else you can think of.

Some items are reduced automatically, while others make you clip a coupon on the item’s link to get the savings. When you’re ready to check out, make sure the coupon has been clipped and added to your order summary.

Occasionally, the app will have exclusive coupons and discounts, so it’s worth it to have the app if you shop on Amazon a lot.

2. Use price tracking tools

Tools, like Capital One Shopping, can help you find the best deals by tracking price drops. This comes in handy for Amazon products since the prices change so often. For example, a lot of people were finding that Amazon Prime Day items were actually more expensive than before Prime Day.

Other popular price-match tools are Honey and Camelcamelcamel.

To make things more convenient for you (and so you don’t forget to use these price-matching tools), I recommend installing a browser extension on your computer. These extensions make it easy to check any item you’re looking at on Amazon instantly.

You can also set up price drop alerts that will notify you when a price drops to your target price.

Recommended reading: Capital One Shopping Review: Is It Worth It?

3. Choose free shipping for bundling your order

There are ways to never pay Amazon shipping, and here are just a few.

  • Amazon gives free shipping on orders that meet certain criteria. For non-Prime members, you need to meet a minimum purchase of $35.
  • Add multiple items to your cart to reach the free shipping threshold.
  • Keep an eye on promotions that give free shipping on lower threshold amounts.
  • If you don’t have anything to buy on Amazon to reach free shipping, maybe think about buying household supplies to increase your total (because you always need them anyway).

Thanks to the above tips, I never pay for shipping on Amazon.

4. Choose No-Rush Delivery for free credits

Amazon has a special offer for users called “No-Rush Delivery” where they’ll give you free credits.

Instead of getting your product in two days or less, you’ll get your items a few days later. You can choose this item during checkout.

These credits can be used towards digital content (eBooks, music, movies). The reward credit is usually between $1-$5.

5. Use a cashback credit card

Credit cards are a fantastic way to get cash back and make money back from your purchase.

I use an Amazon Chase card that gives me 5% cash back on all purchases that I make at Amazon as an Amazon Prime member. Nonmembers get 3% cash back on all purchases made on Amazon.

This can add up to hundreds of dollars over the year. 

6. Subscribe and Save

Amazon’s Subscribe and Save is a handy way to save money on items you regularly buy on Amazon like cleaning supplies (such as paper towels and toilet paper), cosmetics, groceries and food, vitamins, baby items (like diapers), and so much more. This also includes free shipping and a discount.

For example, if you buy 5 or more subscribe & save products, you can save up to 15% on your order.

Here’s a screenshot showing proof that my sister earned money by playing games on Freecash!

7. Find ways to get free Amazon gift cards

Yes, you can get free Amazon gift cards by filling out surveys.

This isn’t a fast way to make extra money, but it’s something you can easily do on your couch or when you’re trying to pass the time.

Here’s a list of the best survey sites:

  1. American Consumer Opinion
  2. Survey Junkie
  3. Swagbucks
  4. InboxDollars
  5. Branded Surveys
  6. Prime Opinion
  7. Five Surveys

You can also earn free Amazon gift cards by playing games on your phone. My sister recently earned $300 in free Amazon gift cards by playing Bingo on the Freecash app. She made this much in just one week!

Recommended reading: 20 Best Survey Sites To Make $100+ Per Month

8. Become an Amazon Vine reviewer

Did you know that you can get hundreds of free products, worth thousands of dollars every year from the Amazon Vine Program?

This program is easy to join and gives you access to thousands of items you can use or gift to friends and family. The Vine program lets you request up to 8 items per day, so you can find all sorts of things you need or totally random items for starting a new hobby. 

You may be eligible to be an Amazon Vine Voice Reviewer if:

  • You have written consistent reviews of your previous Amazon purchases
  • Your reviews are considered ‘helpful’ to other customers
  • Your reviews are honest and trustworthy

Recommended reading: How I Received $4,500 in Free Amazon Products by Writing Reviews

9. Get a free trial of Amazon Prime Student

If you’re a student and enrolled in a college or university, you can probably get a free trial or reduced subscription rate on Amazon Prime. Amazon Prime benefits are awesome because you usually get lower prices and free 2-day shipping.

This can make your Amazon Prime account as low as free or around $7 a month (after the 6-month trial period), so this is definitely one of the best Amazon hacks to save money on a Prime membership.

To qualify for an Amazon Prime Student account, you need to have an active .edu email address to sign up for your Prime membership. Amazon will send a verification email to your school email address. This is how Amazon confirms that you’re a student.

You can sign up for an Amazon Prime Student account by clicking here.

10. Shop with credit card points

With certain credit cards, you can automatically apply your points to your Amazon purchase.

For example, I have an Amazon Chase credit card that makes it really easy to use points when I’m checking out on Amazon.

When I’m at the checkout page on Amazon, the payment area includes a section where I can use my Amazon cash-back points on Amazon purchases.

11. Trade in electronics you no longer need

Amazon has a trade-in program that helps you turn your old and unwanted electronics into money.

To do this, just go to the Amazon Trade-In page and tell Amazon about the device you want to trade in. If the electronic is eligible for a trade-in, Amazon will either give you an Amazon gift card or a 20% off coupon, or sometimes both.

You’ll then ship your electronics via UPS for free or drop your old devices off at an approved trade-in location within 45 days. This is a great option for people who like to get the latest tech gadgets or want to declutter.

12. Shop Amazon Outlet

Amazon Outlet is a section on Amazon that features Amazon warehouse and overstock items that are on discount. This section features discounted items across all categories including:

  • Electronics
  • Home goods
  • Clothing
  • Cosmetics
  • and more

Use the filter and sort items to narrow down your search to make the shopping process less overwhelming. Also, make sure to check customer reviews and check product descriptions to make sure the item is of good quality.

13. Look for free Audible books

If you’re a fan of audiobooks, Audible usually has promotions offering free audiobooks and free trials. As of this writing, Audible has a 3-month offer for only .99 cents, then $14.99 each month after. 

Audible includes:

  • Premium members get credits that can be used for any titles in their premium selection
  • Access to exclusive member sales and discounts on all additional purchases
  • All members can listen to thousands of included audiobooks, podcasts, originals, and more in the Plus Catalog (as much as you want, no limit)

You can find free Audible books by clicking here.

14. Look for Amazon lightning deals

Amazon has lightning deals that are time-sensitive and limited in quantity across different categories.

On the Deals page, look out for the lightning deal badge next to products. Here you’ll see how long the deal lasts or how much of the item is left.

You can also filter deals by category to help you narrow down items. This makes it easier to find items you’re interested in. If an item you’re interested in is 100% claimed, get on the waitlist. If someone doesn’t complete their purchase, you’ll get a notification. You’ll have a short window of time to complete the purchase before the item goes to the next person on the waitlist.

Here’s the email my sister received about her baby registry completion discount.

15. Sign up for a registry

Creating an Amazon registry is a great idea whether you’re having a wedding, expecting a baby, or celebrating another event.

This is also a great way to get a discount on items.

After your event date, Amazon gives a one-time discount on items left on your registry. The discount is typically 10-15% off (higher for Prime members) and applies to select items. You can read about this on Amazon’s website here.

My sister made a baby registry on Amazon when she was pregnant and this Amazon shopping hack definitely works! She was able to save a good chunk of money on the baby registry items that were not bought at her baby shower. I also know of friends who did something similar after they made their wedding registry!

You can create your registry for free on Amazon by clicking here.

Frequently Asked Questions

Below are answers to common questions about the best Amazon hacks to save money.

How do I save a lot of money on Amazon?

To save the most money on Amazon, take advantage of these money-saving hacks:

  • Look for the “Clip Coupon” option on the item’s page to instantly apply discounts
  • If you regularly purchase certain items, use the Subscribe and Save program
  • Use tools like Capital One Shopping extension to track price changes and receive price change alerts

How do I stop overspending on Amazon?

If you have a problem overspending on Amazon, use the following tips:

  • Delete the Amazon app from your phone
  • End your Amazon Prime subscription
  • Before making a purchase, wait at least 24 hours before checking out
  • Unsubscribe from promotional emails

What are the best Amazon hacks to get free stuff?

There are many ways to get free stuff on Amazon. Here are some of the best hacks:

  • Amazon Vine Program (where select customers receive free products in exchange for reviews)
  • Choose no-rush shipping to get credits that can be used toward digital purchases
  • Trade-in eligible electronics for Amazon gift cards

How to save money on Amazon Prime?

If you’re a student, sign up for a 6-month free trial of Amazon Prime Student. The membership costs for students are usually half the cost of a regular Prime membership. You can get the discounted Prime membership rate for up to four years, as long as you have a .edu email address. 

You can also pay for your Amazon Prime membership annually instead of monthly. This will give you a discounted per month price.

Another tip is to think about whether you need Amazon Prime year-round. Some people only need it for the holiday season when shopping picks up, while others use the membership year-round.

15 Best Amazon Hacks To Save Money – Summary

I hope you enjoyed my article on the best Amazon hacks to save money.

Using these 15 Amazon hacks can save you tons of money over time and help you use your Amazon Prime membership better.

Whether you’re using price tracking tools or trading in electronics you no longer use, these tips will help you get the most out of your Amazon shopping experience. 

Happy saving!

What do you do to save money on Amazon? What do you think are the best Amazon hacks to save money?

Recommended reading:

Source: makingsenseofcents.com

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Though the Halepuna Waikiki by Halekulani hotel sits in the heart of tourist-packed Waikiki on the island of Oahu, it’s quiet and relaxed. The 284-room boutique hotel offers a refreshing alternative to the sprawling resorts that dominate the area.

But the real standout about this boutique oasis? No resort fees.

I visited Halepuna Waikiki for two nights, as part of a longer trip to Oahu. The resort initially caught my attention for its lack of resort fees. I grew even more interested when I learned about how much it included. Notably, it offered complimentary access to multiple museums that I had long been yearning to visit given my family’s Hawaiian heritage.

Though nightly rates typically run over $300 a night (slightly higher than Oahu’s average nightly hotel room rate of $272, based on May 2024 data from the Hawai‘i Tourism Authority), the free museum access alone went a long way in justifying it. Without that complimentary access, my travel companion and I otherwise would have spent more than $150 combined on museum tickets.

That made the decision easy — and it didn’t hurt that the hotel was quite fancy, too.

About the Halepuna Waikiki

Halepuna Waikiki by Halekulani is the sister property of Halekulani, On the Beach at Waikiki —one of the oldest (and most famous) Waikiki beach hotels. As for the Halepuna Waikiki, this property is relatively new. It opened in October 2019, but closed for more than a year during the COVID-19 pandemic.

The hotel reopened in April 2021 with several awards and titles to its name. That includes a AAA Four Diamond Award, which is a prestigious award recognizing hotels for their upscale style, amenities and service.

Features include a rooftop infinity pool with ocean views, plus a sleek lobby designed with custom light fixtures, vaulted ceilings and floor-to-ceiling windows that offer up a light and airy aesthetic.

The Halepuna Waikiki location

The lobby at the Halepuna Waikiki by Halekulani. (Photo by Sally French)

The Halepuna Waikiki offers the best of both worlds in that it has ocean views without sitting directly on the beach. That means you can still get a great view without the exorbitant beachfront price tag.

The hotel sits just one block from the beach on one side, and one block from Kalakaua Avenue — Honolulu’s main shopping street — on the other side. Since the hotel sits tucked away on a side street, it tends to be a little quieter than most other Waikiki hotels, and it usually won’t have as many non-hotel guests wandering through the lobby.

The lobby at the Halepuna Waikiki by Halekulani. (Photo by Sally French)

Halepuna parking is available, but it’s not cheap. Whether you opt for valet or self-parking, you’ll pay $50 per day. Given the hefty parking fee coupled with the hotel’s prime, walkable location, you might not actually want a rental car in Honolulu anyway.

To get there from the airport, it’s usually best to take a taxi or rideshare. Ubers generally cost about $30 to $40 between Honolulu’s Daniel K. Inouye International Airport and the hotel.

Halepuna Waikiki rooms

An Ocean View room at the Halepuna Waikiki by Halekulani. (Photo by Sally French)

Halepuna Waikiki by Halekulani has 284 guest rooms and four suites. The best views are from the oceanview rooms on higher floors (floors 19 through 23), as they’re not obstructed by the buildings in front.

(Photo by Sally French)

These Deluxe Ocean View rooms tend to cost about 15% more than the Ocean View rooms with obstructed views and about 30% more than the standard Waikiki view rooms.

(Photo by Sally French)

The rooms have modern amenities, like a bedside and dress charging station with ports for USB and HDMI, plus a Bluetooth connection. Shades are remote controlled, and bathrooms have nice features like a lighted vanity and magnifying mirror.

(Photo by Sally French)

The rooms also have some nods to the local culture. For example, each room has a unique photo taken by a local photographer, and the bath amenities use locally-sourced Hawaiian oils and extracts.

(Photo by Sally French)

All rooms also have a refrigerator and coffee maker. The complimentary refillable water bottles make for a great souvenir.

Key amenities at the Halepuna Waikiki

(Photo by Sally French)

The rooftop infinity pool on the hotel’s eighth floor is remarkable.

(Photo by Sally French)

The area also has a hot tub, plenty of lounge chairs and cabanas available for rent. Conveniently, complimentary sunscreen is available for hotel guests.

(Photo by Sally French)

A rooftop garden and grass turf space adjacent to the pool is a nice place to sunbathe outside of the pool deck.

(Photo by Sally French)

The eighth floor also offers a gym, which offers fairly standard equipment like cardio machines and dumbbells.

(Photo by Sally French)

One unique feature caters to the workcation crowd — the business center and hospitality suite. This room offers work desks where hotel guests can post up with no reservations required. If you do need to reserve a private space, there’s also a separate, bookable meeting room that accommodates up to 24 people.

One underrated amenity is a coin-operated laundromat, which is also located on the eighth floor.

In addition to the on-property amenities, the Halepuna offers some free events and tickets. For example, guests can participate in complimentary, daily surf demonstrations held on the beach in front of Halekulani.

Halepuna guests also receive complimentary admission at the biggest museums in the state, including the Bishop Museum and Honolulu Museum of Art. Given that general adult admission costs $34 to the Bishop Museum and $25 to the Honolulu Museum of Art, that alone could go a long way in justifying the hotel room rate.

Halepuna Waikiki restaurants

(Photo by Sally French)

The Halepuna has two restaurants:

Halekulani Bakery: This morning spot serves coffee and pastries, and it’s most famous for its Halekulani Coconut Cake.

(Photo courtesy of Halekulani)

Umi By Vikram Garg: This seafood-centric restaurant open for breakfast and dinner is located in the hotel lobby. Each dish uses high-end and unique ingredients, such as fried rice made with seafood, bacon and koshihikari rice. Even the pancakes are elevated; the “Mai Tai Pancake” is served with caramelized pineapple and a rum-coconut essence.

Halekulani restaurants

Dining options are slim at Halepuna, but that’s where Halekulani, its sister property across the street, shines. The hotel has about a half-dozen different places to eat, and Halepuna guests can charge purchases made at Halekulani back to their room.

La Mer: The award-winning La Mer serves French cuisine with ‘flavors of Hawaii.’

Orchids: Though it’s open all day, Orchids is a great spot for Waikiki brunch in particular, as well as Waikiki afternoon tea given its ocean views and diverse menu that embraces both Asian and American cuisine.

(Photo by Sally French)

House Without A Key: Then there’s one of the most famous restaurants in Waikiki: House Without A Key. Though it’s not fancy, it’s still an elevated spot for lunch, dinner or drinks. Don’t plan on rushing through a meal here, as the draw is enjoying the Hawaiian music and hula performances held in front of the restaurant’s century-old kiawe tree.

(Photo by Sally French)

It’s all outdoor seating, though there’s an expansive, covered area offering an open-air, indoor-like place to eat.

Kabayaki fries at the House Without A Key restaurant. (Photo by Sally French)

The food is just as good as the vibes. There’s all sorts of burgers, fish and flatbreads. The highlight, though, is found on the sunset cocktail menu: kabayaki fries. With this dish, fries are doused in the famous Japanese sauce, and then topped with furikake, garlic, onions and kewpie mayonnaise. Don’t miss it.

Who is the Halekulani Waikiki best for?

The Halepuna Waikiki by Halekulani offers the perfect combination of modern yet luxurious touches, a tucked-away atmosphere plus a prime Waikiki location – all at a competitive price, especially considering the absence of resort fees.

The complimentary cultural access and exclusive privileges at the Halekulani elevate the experience even further. For travelers seeking a luxurious and intimate escape in Waikiki, the Halepuna Waikiki is one of the best hotels in Waikiki.

Booking the Halekulani Waikiki

There are a few ways to pay for your stay, so compare prices before booking. Booking options include:

Direct through Halepuna: When you book directly on Halepuna’s website, you can take advantage of exclusive offers. These vary by time of year, but often include deals like free breakfast for two.

I Prefer Hotel Rewards: The free-to-join hotel loyalty program doesn’t have a huge presence in the U.S., but it serves hundreds of hotels and resorts worldwide. Like most hotel loyalty programs, members can rack up points to exchange for free nights. Plus, members have access to exclusive rates, early check-in and space-available room upgrades.

The hotel also usually appears on American Express Travel, where it’s part of the issuer’s Fine Hotels + Resorts® program. Cardholders who pay with their The Platinum Card® from American Express can get up to $200 in statement credits per calendar year on prepaid bookings through Fine Hotels + Resorts® or The Hotel Collection bookings through American Express Travel. (The Hotel Collection requires a minimum two-night stay.) Though that card has an annual fee of $695 (see rates and fees), the statement credits can go a decently long way in justifying it. Terms apply.

Plus, AmEx cardholders who book through FHR are eligible for space-available room upgrades, complimentary breakfast, a $100 property credit and late checkout. Terms apply.

To view rates and fees of The Platinum Card® from American Express, see this page.

How to maximize your rewards

Source: nerdwallet.com

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Minority small business grants are designed to provide funds and opportunities to business owners who belong to historically marginalized communities. Unlike loans, these grants offer capital you don’t have to pay back. Plus, many grants also provide free coaching and other forms of support.

Read on for a closer look at how small business grants for minorities work, key places you can find these grants, and how to apply for a small business grant.

Key Points

•   Small business grants aim to provide financial assistance to minority-owned businesses to promote diversity, equity, and inclusion in the entrepreneurial space.

•   Unlike small business loans, minority business grants do not require repayment.

•   Both federal, state, and private organizations offer grants, including programs like the Minority Business Development Agency (MBDA).

•   In addition to grants, small businesses who need funding can apply for small business loans, business lines of credit, microloans, and more.

How Small Business Grants for Minorities Work

Minority business grants are for people who identify as Asian, Pacific Islander, Hispanic, Latino, Native American, Black, multiracial, and other non-white races or ethnicities. They are designed to provide financial resources to individuals who may otherwise find it difficult to get ahead in the business world.

Grants do not have to be paid back the way a loan would. Depending on the source, this money can be used for a variety of purposes, including:

•  Startup costs

•  Equipment

•  Marketing

•  Payroll

•  Office space

•  New product line

Applying for small business grants will likely require some legwork. However, those willing to put in the effort could be rewarded with an injection of capital that could help their businesses thrive.

Recommended: Survey of Hispanic-Owned Businesses

Private Small Business Grants for Minorities

There are many grants for minority business owners that you can apply for. Here’s a list of options that can serve as a jumping off point.

1. NAACP Black-Owned Business Grants

The NAACP partners with other companies and organizations to offer several grants. Since the group is continually looking for new partners, small business grants for Black entrepreneurs change from time to time — so keep an eye out for new ones.

A good place to start is the Hello Alice and NAACP partnership site, where you can find a running list of Black minority business grants.

Qualifications vary by grant, though all require that businesses be Black-owned.

2. GrantWatch

GrantWatch provides a database of small business grants that allows you to search by grant topics. When using the group’s search function, you can select “small business” as the recipient and “BIPOC” (which stands for Black, Indigenous, and People of Color) as the category to home in on grants designed specifically for minority business owners.

As GrantWatch rounds up thousands of grants, including those for nonprofits, individuals, and small businesses, there isn’t one standard set of qualifications.

3. Galaxy Grants

Galaxy of Stars is a community of minority and women business owners offering support to entrepreneurs. Additionally, they provide a grant opportunity for minority business owners worth $4,250 to start or grow a company. Unlike many other grant options, you only need to fill out a brief form with the absolute basics to enter. Any and all women small business owners are encouraged to apply.

They offer additional grants or financial awards on occasion, so you may want to bookmark this site and check back from time to time.

Recommended: Small Business Loans for Women

4. First Nations Development Institute

The First Nations Development Institute offers grant opportunities to Native Americans in 45 states, the District of Columbia, and U.S. Territory American Samoa. Their grants change throughout the year, and not all grants are specifically for small business owners, as some can support small business ventures or business-minded students. New grants opportunities are posted periodically on the website.

5. IFundWomen

IFundWomen is a funding marketplace exclusively for women-owned businesses. The platform provides access to small business grants from corporate partners, along with expert business coaching and connections to other women business owners. By filling out the IFundWomen Universal Grant Application, you put your business in the running for all the grant opportunities that come their way. In addition to upcoming grants, you will be the first to hear about new funding opportunities and receive additional resources from the IFundWomen community.

6. Amber Grant

The Amber Grant is a funding initiative designed to support women entrepreneurs, including minority women, in launching and growing their small businesses. Created in honor of Amber Wigdahl, a young woman who passed away before realizing her entrepreneurial dreams, the grant offers $10,000 in monthly awards. Additionally, an annual $25,000 grant is awarded to one of the monthly winners.

7. Comcast RISE

The Comcast RISE grant is a program designed to support minority-owned small businesses with marketing, media, and technology resources. The goal of Comcast RISE (Representation, Investment, Strength, and Empowerment) is to empower minority entrepreneurs by offering critical tools and resources to help them succeed, grow, and thrive in an increasingly competitive marketplace.

8. FedEx Small Business Grant

FedEx offers an annual grant competition that provides funding to minority and other small business owners. Winners can receive up to $50,000, along with valuable business services like FedEx Office® print and business services credits.

9. Fast Break for Small Business (LegalZoom and NBA)

LegalZoom partners with the NBA to provide $10,000 grants and $500 in LegalZoom services to minority-owned small businesses, aiming to assist businesses with legal compliance and growth. The grant can be used to help start, run, and grow businesses — known as the perfect play.

10. Asian Women Giving Circle Grant

The Asian Women Giving Circle Grant supports Asian-American women entrepreneurs focused on arts and social change. It offers funding for projects that raise awareness and bring positive social transformation within the community. Each grant is $8,000, and typically 8-10 grants are awarded annually.

Recommended: 30 Small Business Grants for Women

Federal Grants for Minority Small Business Owners

Many federal government agencies offer grants to businesses, including minority-owned businesses. Here are two resources that can help you find federal grants.

Grants.gov

Grants.gov is a database that helps grant seekers find and apply for federal funding opportunities. It stores information on more than 1,000 grant programs offered by a range of federal grant-making agencies, including the U.S. Department of Commerce and the U.S. Small Business Administration (SBA). To apply, you’ll need to create an account, as well as a unique entity ID, which lets you apply for federal grants and bid on government contracts.

Recommended: Small Business Grants in Arizona

United States Department of Agriculture (USDA) Grants

Though not limited to minority business owners, the USDA provides financial backing and technical assistance for rural businesses to create quality jobs and improve the quality of life in rural areas. USDA Rural Business Development Grants are available to small and large for-profit businesses, as well as nonprofit and tribal entities. The funds can be used for a wide range of projects, from agriculture innovation to housing, water quality, health care, and rural job creation in general.

How Do I Apply for a Small Business Grant?

Small business grant applications vary widely. Some grantors require full grant proposals, while others only ask for a small amount of information. Here are some steps that can help you get started.

1.   Check the grant’s requirements. These are often very specific, so be sure you meet the basic program requirements, including location, business size, industry, and any founder requirements. Some may even require that you have a membership to a specific organization before applying.

2.   Collect all of your documents. You’ll likely need to supply a business plan that lays out why you’re applying for the grant and how you plan to use the funds. In addition, you may need:

•  Employer Identification Number (EIN)

•  DUNS number

•  Revenue history

•  Organizational chart, including the number of employees

•  Bank statements

•  Tax returns

•  List of contracts your business holds

3.   Fill out the application. This is typically the most time-consuming part of the process. You may need to answer multiple questions about why you need the funds, your plans for their use, and how your business contributes to the community.

Recommended: 6 Step Guide to Getting a Small Business Loan

Other Resources for Minority Business Owners

In addition to the above grants for minority business owners, here are some other helpful resources you may want to look into.

National Minority Supplier Development Council

The National Minority Supplier Development Council strives to provide business opportunities for certified minority businesses through training, networking, and funding opportunities. With over 1,500 corporate members, the NMSDC plays a key role in advancing minority-owned businesses and driving economic inclusion.

SBA Microloan Program

The U.S. Small Business Administration’s (SBA’s) microloan program provides up to $50,000 to new and existing startups. It is fully funded by the SBA but administered by an intermediary network of nonprofit community-based lenders, rather than traditional banks.

Unlike many traditional loans, SBA microloans are available to small business owners with no credit history, as well as lower incomes. The program is also geared toward businesses otherwise underserved by traditional banks, including women- and minority-owned businesses and those in low-income communities. Exact eligibility requirements vary by lender.

To apply for a microloan, work with an SBA-approved intermediary in your area.

Operation Hope’s Small Business Development Program

Operation Hope’s Small Business Development Program is an intensive course providing training in business basics like financial counseling, personal development, and access to professional services. It focuses on empowering minority business owners by giving them the tools to succeed in competitive markets.

SBA’s 8(a) Business Development Program

The SBA’s 8(a) Business Development Program aims to help socially and economically disadvantaged people or entities by assisting in applying for federal contracting opportunities. They also offer mentoring and business training.

To qualify, businesses must be minority-owned, meet size standards, and demonstrate the owner’s economic disadvantage and management control over the company.

Alternatives to Small Business Grants

Small Business Loans

If grants aren’t available for your business right now or you need faster funding, you may want to look into different types of small business loans. While banks typically have strict qualification requirements, such as at least two years in business and a minimum amount of revenue per year, online lenders tend to be more flexible, as well as faster to fund (though rates are typically higher).

Business Line of Credit

A business line of credit is a type of small business funding that allows businesses to borrow up to a predetermined limit as needed, rather than receiving a lump sum. Similar to a credit card, funds can be drawn and repaid repeatedly, with interest charged only on the amount borrowed.

Microloans

Microloans are small, short-term loans designed to help small businesses and startups with limited access to traditional financing. Typically ranging from a few hundred to $50,000, microloans are often offered by nonprofit organizations, community lenders, or government programs like the U.S. Small Business Administration (SBA).

Recommended: Microloans for Women-Owned Small Businesses

The Takeaway

There are many grants available to small businesses owned by minorities, meaning you can access cash that you don’t have to repay. While it does take some time researching and applying for grants, it can be a valuable source of funding to get your small business off the ground or help it expand. Since competition can be stiff, you may also want to investigate other sources of capital for your business.

If you’re seeking financing for your business, SoFi can help. On SoFi’s marketplace, you can shop top providers today to access the capital you need. Find a personalized business financing option today in minutes.

With SoFi’s marketplace, it’s fast and easy to search for your small business financing options.

FAQ

What is the best source of funding for small businesses?

The best source of funding for small businesses depends on the business’s needs and goals. Common options include small business loans, grants, venture capital, angel investors, and business lines of credit. For flexible, non-repayable funds, grants are ideal, while loans and lines of credit offer structured financing.

Does the government give money to startups?

Yes, there are government programs offering small business loans and grants to startups. Those in specific sectors like technology, research, or those owned by minorities and women may have an easier time finding government assistance, though.

What organization helps small business owners borrow money?

The Small Business Administration (SBA) helps small business owners borrow money by providing access to loan programs, such as 7(a) loans, 504 loans, and microloans. The SBA partners with banks, credit unions, and other lenders, offering guarantees to reduce the risk for lenders and making loans more accessible.

Photo credit: iStock/mapodile

SoFi’s marketplace is owned and operated by SoFi Lending Corp. See SoFi Lending Corp. licensing information below. Advertising Disclosures: SoFi receives compensation in the event you obtain a loan through SoFi’s marketplace. This affects whether a product or service is featured on this site and could affect the order of presentation. SoFi does not include all products and services in the market. All rates, terms, and conditions vary by provider.


Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.

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Source: sofi.com

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Solar panels can save money or increase energy independence. If you want further savings, you can DIY solar panels, which requires more research and effort but can result in a cheaper system overall.

Can you build your own solar panels?

It is possible to build your own solar panels by purchasing individual solar cells, shatterproof glass, and the necessary wire and soldering equipment to assemble the panels

.

  • You’ll need to be knowledgeable about electricity in order to choose your cell voltages and power output correctly and safely.

  • You’ll want to purchase high-quality equipment because a DIY solar panel will not be guaranteed with a warranty the way commercially-produced panels are.

In general, this level of do-it-yourself isn’t going to yield a cost benefit, however. DIYers often can save money when they create small-scale systems for an RV or tiny home using solar panel kits, or when they use manufactured panels but create their own DIY solar panel system.

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How to DIY a solar panel system

If you’d prefer to spend time and effort rather than money, using manufactured panels to DIY your own system could be your answer.

1. Evaluate your roof or ground area and make a plan

Solar panels work best on south-facing roofs with an angle between 15 and 40 degrees, and you’ll want your roof area to be free of shade as much of the time as possible

. Measure your roof, draw out where you’d ideally like to place your panels and calculate how many.

Evaluate how much electricity you want to generate, and determine the potential output of your system. Do some calculations to size your batteries, solar panels and wiring to conduct electricity appropriately without overloading and overheating the system. Free tools help people model their systems, but be prepared to do a lot of research if you don’t have an electrician background.

2. Understand the requirements for interconnection and permitting

Contact your electric utility if you intend to tie your system to the grid; your municipality may also require permits even if you intend to be off the grid. “It’s technically possible to DIY aspects of a solar panel installation. However, it can be challenging due to the engineering drawings, permits, inspections and licensing requirements in most jurisdictions,” Dan Massaad, CEO of Florida-based solar installer Guardian Home, said in an email.

3. Source your equipment carefully

Your exact needs will vary, but you’ll definitely need to source solar panels, mounting/racking supplies, electrical supplies, an inverter system and any batteries and related supplies.

You can purchase less-expensive used panels and batteries, or you can purchase new from manufacturers that offer some guarantee or warranty for their products.

“All of the solar panels I have, I purchased used from online sources; Facebook Marketplace and Craigslist are the two sites I use when searching,” said David Posluszny, prominent DIY solar expert and energy efficiency YouTuber, in an email. “I’m able to buy used panels far below retail price.”

4. Install yourself or contract elements of the project out piecemeal

People often opt to do parts of the installation process themselves and contract out other portions of the process for a bit less than a full installation would cost. For instance, a professional installer might quote you a lower rate if all you need is someone to physically mount the system that you’ve designed, sourced and permitted on your own. It just depends on who is available in your area and how flexible they are.

How much does it cost to DIY your own solar panel system?

The average price of an 11 kW solar panel system is $29,926 before federal tax credits, according to EnergySage, a solar and home energy product comparison marketplace founded in 2012

. Anecdotally, DIYers are able to install their systems for substantially less, but there isn’t definitive data for all DIY installations.

Instead, there is a range of expected savings. You might see a modest 10% savings for a partially DIY project you design and source but still contract out to professionals piecemeal, or a 50% savings for a completely DIY project sourced with pre-owned panels/batteries. In the end, your savings really depend on so many factors that you’re better off getting professional quotes in your area as a baseline and then pricing out your own project in comparison.

Making this system worthwhile, however, also requires valuing your time. If this project is highly personally fulfilling and you have the spare time anyway, it will be easier to value those hours at a lower rate. If you have limited free time or don’t enjoy the manual labor and planning aspects of the project, consider whether the value of a DIY solar panels system is there.

Is it worth it to DIY solar panels?

In general, you’ll see the biggest savings from DIY solar panel installation if you enjoy the thorough research involved and the hours of work getting the project online after sourcing your materials.

“If you don’t feel safe, then you might want to hire a licensed installer,” Posluszny said. “Keep in mind, there are risks with everything, including solar. Our goal should be to minimize risk to acceptable levels. Electricity can harm and should be treated with respect… If at the end of that journey, you still feel like you’re ‘missing something important’ definitely hire a licensed installer/electrician/construction person.”

Advantages of DIY solar panels

  1. You may save thousands of dollars in installation costs.

  2. Professional installers may have specific limits on what they are willing to customize, making DIY a better option for those who want an unusual or highly customized project. 

  3. Learning about power generation and electrical work can be rewarding and fun.

Disadvantages of DIY solar panels

  1. For those who have limited free time or demanding day jobs, the hours of labor for the DIY project come at a high price.

  2. It may be safer to rely on experts to design and install a system due to the research necessary to have both a safe system and cost savings.

  3. Sourcing high-quality equipment can take more time and effort as a single purchaser because many PV equipment producers generally sell to professional installers.

Source: nerdwallet.com

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The Offer


No direct link to offer, showing via referrals only currently. Find and share referrals in this linked offer.

  • Chase is offering a new sign up bonus on the Chase Sapphire Preferred:
    • Earn 60,000 bonus points after $4,000 in purchases in your first 3 months from account opening
    • Earn an additional 10,000 points (70,000 points) after an additional $2,000 in purchases in your first 3 months from account opening ($6,000 total spend)
    • Plus, get up to $300 in statement credits on Chase Travel purchases within your first year

Card Details

  • $95 annual fee, not waived
  • No foreign transaction fees
  • Primary car rental insurance
  • $50 Annual Hotel Credit. (This is per cardmember year, rather than calendar year. Must be booked through the Chase Travel Portal.)
  • Card earns at the following rates:
    • 5x on travel booked through the Chase Travel portal.
    • 3x on Dining/Streaming Services/online grocery (excludes: excluding Target, Walmart and
      wholesale clubs)
    • 2x on travel
    • 1x on all other purchases
    • 10% Anniversary point bonus. When you renew your card Chase will offer a 10% bonus spend. For example if you spend $25,000 you’d earn 2,500 bonus points.  This is award after the annual fee is paid. This doesn’t apply to the sign up bonus.
  • Transferable points
  • Redeem points on Chase’s travel portal at a value of 1.25¢ due to the 25% travel redemption bonus
  • Not eligible if you’ve received a sign up bonus on the Sapphire Preferred/Reserve in the last 48 months (standard is now 48 months)
  • Chase 5/24 rule applies to this card

Our Verdict

Reader Michael reports this in branch offer. An extra 10,000 points for an extra $2,000 in spend is a good deal for most people, although if you have P2 refer you you’ll be better off with the other offer. We will still add this to the best credit card bonus page and mention it in the other posts.


Source: doctorofcredit.com