Women and minority entrepreneurs often face additional challenges starting and running their businesses. Access to finance is often a major barrier to entry. But there are grant opportunities that aim to close these gaps.
Latest Small Business Grants for Women and Minority Business Owners
These are the latest small business grant opportunities for women and minority entrepreneurs.
Power Forward Small Business Grant
The Power Forward Small Business Grant program supports Black-owned small businesses throughout New England. Vistaprint, the Boston Celtics Shamrock Foundation, and the NAACP partner to fund and administer the awards program. Eligible Black-owned businesses with between 1 and 25 employees can apply for $25,000 grants. This is a multi-round program, so prizes are awarded on an ongoing basis.
Coalition to Support Black Businesses
The Coalition to Back Black Businesses is a multi-year initiative co-founded by the US Chamber of Commerce Foundation, American Express, and four leading national Black business organizations to address the needs of businesses impacted by the pandemic and support their long-term growth. . The coalition plans to distribute more than $14 million in grants and other resources over the next four years. Eligible businesses can apply for $5,000 grants. And awardees also get access to mentorship and training, plus the opportunity to apply for additional funding the following year. The annual program accepts applications each fall.
The Kitty Fund is a small business grant program specifically for moms, named for Founder’s First CEO Kim Folsom’s mother, Catherine “Kitty” Abrams Tadlock Webster. The program is open to mother-owned businesses with two or more employees. This is an annual program. In 2022, the program will award $500 grants to 50 businesses.
Capital One Business Grant Program
Capital One and the Association for Enterprise Opportunity partner to launch the Capital One Business grant program. The program supports Black-owned businesses with $10,000 grants, along with free resources on Capital One’s Business Hub. The program officially launched this spring and will award funds on an ongoing basis.
National Black MBA Association Ladder Launch Challenge
The National Black MBA Association’s Scale-Up Pitch Challenge connects eligible startups with venture capitalists and investors. And the program also awards cash prizes to three finalists, with the grand prize totaling $50,000. This is an annual program. The 2022 contest has yet to launch.
Asian women giving circular grants
Asian Women Giving Circle is a network that raises and awards funds to Asian women-led businesses and projects in New York City. To qualify, projects must be related to the arts and culture or social awareness. Eligible businesses can apply for $15,000 per project. The 2022 application cycle has passed, but the program repeats when additional funds become available.
First Nations Development Institute Grants
The First Nations Development Institute awards grants to Native American projects and organizations across the country. Since the program’s launch in 1993, the organization has provided 2,611 grants worth $51.6 million. In addition to funding, grant recipients can access technical resources to support their development efforts.
Foundation Scholarships for a Just Society.
Foundation for a Just Society offers a wide range of grants throughout the year. The organization supports businesses and initiatives in various regions, including the southeastern US and New York City. The goal is to create a fairer society by supporting ideas led by women, girls and LGBTQI people. Check the website often for current opportunities.
Sage Invest in Progress Scholarship
Sage’s Invest in Progress Grant supports Black women entrepreneurs during their first five years in business. This year, Sage partnered with the BOSS Impact Fund to create a three-year, $1.5 million grant fund. The organizations awarded 35 grants in 2022. And the fund offers annual opportunities.
Freedom Annuity BIPOC Small Business Grant
Annuity Freedom created its BIPOC Small Business Grant program in response to the impact of the pandemic on BIPOC-owned businesses. They offer multiple grant opportunities, including marketing grants and micro grants, which are awarded on an ongoing basis.
Black Founder Startup Scholarship
The SoGal Foundation and its partners run The Black Founder Startup Grant program on an ongoing basis. The organization awards $10,000 grants to African American and multiracial women and non-binary businesswomen. To qualify, founders must have a legally registered business and plan to seek financing from investors.
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