All Businesses Can Apply For the $10K Fast Break Grant- Here's How

Would you like to win $10K for your business? LegalZoom is offering $10K grants and $500 in legal services to assist thousands of small businesses across America. The deadline for this first round is November 23, 2021. Here's how to apply.

What Is the Fast Break for Small Business Program?

The Fast Break For Small Business program is a collaboration between LegalZoom, the NBA, WBNA, and the NBA G League. Over the next couple of years, LegalZoom plans to distribute $6 million in grants and legal services to thousands of small businesses. They particularly want to help businesses owners "who face obstacles because of who they are, who they love, or how they identify."

During this first round, which closes November 23, 2021, LegalZoom will award $10K to 50 small businesses and $500 in legal services to 950 other businesses. Recipients will be notified and awarded in January 2022.

Who Is Eligible For the Fast Break for Small Business Program?

This program is open to a wide variety of small businesses as it has few restrictions. You can apply to this program if:

• Your business is based in the United States
• You have been in business for 6 months or longer
• You have a business bank account
• You have a business license or sole proprietorship formation document
• Your annual business revenue is less than $1 million
• Your business is not a prohibited business (like adult entertainment, tobacco stores, gambling venues, etc.).

How Do I Prepare and Apply to the Fast Break for Small Business Program?

Before you apply to any grant, it's important to know how to apply effectively to increase your odds of being selected. For the Fast Break for Small Business program, you will need to gather the following:

• Most recent tax returns for businesses older than a year.
• A copy of your business license or sole proprietor formation document (must have one of these to apply).
• Front-and-back copy of business owner's ID (such as driver's license)
• Most recent bank statement.
• W9 for the business account used above (on their website).
• An ACH form for the business account listed above (on their website).

To begin the application, head to the program page and find the fillable form about a quarter-page down. The first few questions verify that you are eligible to apply.

Once you answer these brief questions, the fillable box expands to include the rest of the application. There are several questions, but not all of them are required. Here's what is required for the application.

• Your name and contact information.
• Your business's name, industry, and date when your business started.
• A description of your business and who your business serves.
• An explanation of what inspired you to start your business.
• An explanation of how you will use the funds if chosen.

These questions (pictured below) will likely determine if you are chosen or not. This is your opportunity to share your story, your passion, and your vision. The grant committee wants to know what sets you apart from the rest of the applicants. Read through the effective ways to apply for a grant before completing.

Need Help Applying Or Want Other Funding Assistance?

Would you like help applying for this grant? Do you need more funding for you business? Our team of experts can help you navigate your funding options and can assist you in applying for this grant. Use this link to receive personalized 1-to-1 support from someone on our team. You can also join thousands of businesses that receive small business grants and loans updates, every week.