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active Private Grant

Freed Fellowship Grant

Freed Studio

$500/mo + $2,500 year-end

Visit official program ↗ See if you qualify — free
The short version

Monthly micro-grant with year-end bonus for small business owners

Monthly rolling grant of $500 for one US micro or small business owner, with all Fellows automatically considered for a year-end $2,500 bonus award. Applications accepted on a rolling basis with a $19 application fee. Funds are completely unrestricted. Especially encourages women, minorities, and underrepresented entrepreneurs to apply. Non-profits are not eligible.

Funding type
Grant
Level
Private
Amount range
$500 – $2,500
Realistic amount
$500 for monthly Fellows; $2,500 year-end for standout Fellows
Deadline
Rolling — submit by midnight ET on the last day of each month to be considered in that month's cycle
Status
active
States
Nationwide
Payment model
lump sum

Who qualifies

What it covers

Eligible expenses

  • Any business expense — funds are completely unrestricted
  • Marketing and advertising
  • Equipment and tools
  • Software and subscriptions
  • Inventory and supplies
  • Professional development
  • Hiring or contractor costs

Ineligible expenses

  • Non-profit organizations (explicitly excluded)
  • Personal non-business expenses

How to apply

  1. 1

    Review the 5C Framework criteria

    Understand what reviewers evaluate: Context (market positioning), Content (business narrative), Community (audience), Chemistry (competitive advantage), Commerce (revenue model). Prepare notes on each.

    ~1 hrs

  2. 2

    Complete online application form

    Answer questions about your business through the online form — described as taking 'just a few minutes.' Describe your business, revenue model, and how you'd use the $500.

    ~1 hrs

  3. 3

    Pay $19 application fee

    Non-refundable $19 fee paid at submission. Covers platform and administrative costs.

    ~0.1 hrs

  4. 4

    Submit by month-end deadline

    Applications must be submitted by midnight ET on the last day of the month to be considered in that month's cycle.

    ~0 hrs

  5. 5

    Receive feedback and award decision

    One Fellow selected per month. All Fellows are automatically considered for the year-end $2,500 bonus. Feedback typically arrives by end of the following month.

    ~0 hrs

Insider tip

The $19 fee filters casual applicants — treat it as a signal to submit a polished narrative. The 5C Framework is the rubric: nail Commerce (show real revenue) and Chemistry (what makes you different). Year-end $2,500 bonus goes to standout monthly Fellows, so monthly winners have a second shot at larger money.

Deadline & timing

Applications accepted year-round on a rolling monthly basis. Submit by end-of-month to be reviewed in that cycle. Feedback typically provided by end of the following month.

Programs that stack well

Related programs

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Up to $250K (Phase I) South Dakota Governor's Office of Economic Development (GOED)
South Dakota Proof of Concept Program
Up to $25,000
Up to $25K (Ph I) / $100K (Ph II) Innovate Alabama
Alabama Innovation Grant (SBIR/STTR State Match)
Up to $250,000 Arkansas Economic Development Commission (AEDC)
Arkansas CREATE Rebate Program
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Arizona Innovation Challenge (AIC)
Up to $100,000

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Last reviewed 2026. GrantCompass is an independent funding-discovery tool and is not affiliated with any government agency. Always confirm details on the official program page.