Women and minority entrepreneurs often face additional challenges when starting and running their businesses. Access to finance is often an important barrier to entry. But there are grant opportunities that aim to close these gaps.
The Latest Small Business Grants for Women and Minority Owners
Here are the latest small business grant opportunities for women and minority entrepreneurs.
Power Forward Grant for Small Business
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 award program. Eligible Black-owned businesses with between 1 and 25 employees can apply for grants of $25,000. This is a multi-round program, so prizes are awarded on a rolling basis.
Coalition to support black businesses
The Coalition to Back Black Businesses is a community organization that works with multiple partners to fund grants and resources for small businesses. The coalition plans to distribute more than $14 million in grants and other resources over the next four years. Eligible companies can apply for a $5,000 grant. And winners will also receive 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 especially for moms, named in honor of the mother of founder Kim Folsom’s first CEO, Catherine “Kitty” Abrams Tadlock Webster. The program is open to parent companies with two or more employees. This is an annual program. In 2022, the program will award $500 grants to 50 companies.
Capital One Business Grant Program
Capital One and the Association for Enterprise Opportunity are teaming up to launch the Capital One Business grant program. The program supports Black-owned companies with $10,000 grants, along with free resources in Capital One’s Business Hub. The program officially launched this spring and will provide funding on a rolling basis.
National Black MBA Association Scale-Up Pitch Challenge
The National Black MBA Association Scale-Up Pitch Challenge connects eligible startups with venture capitalists and investors. And the program also awards cash prizes to three finalists, with a grand prize totaling $50,000. This is an annual program. The 2022 competition has not yet been launched.
Asian women give circle grants
The Asian Women Giving Circle is a network that raises and awards funds to businesses and projects led by Asian Women in New York City. To be eligible, projects must be related to art and culture or social awareness. Eligible companies can apply for $15,000 per project. The 2022 application cycle is already over, but the program will repeat itself when additional funding is available.
Grants from the First Nations Development Institute
The First Nations Development Institute provides 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 have access to technical resources to support their development efforts.
Foundation for a Just Society Grants.
Foundation for a Just Society offers a wide variety of scholarships throughout the year. The organization supports businesses and initiatives in several regions, including the Southeastern US and New York City. Its aim is to create a more equitable society by supporting ideas led by women, girls and LGBTQI individuals. Check the website regularly for current options.
Sage Invest in Progress Grant
Sage’s Invest in Progress Grant supports black female entrepreneurs during their first five years in business. This year, Sage partnered with the BOSS Impact Fund to establish a three-year, $1.5 million grant fund. The organizations awarded 35 grants in 2022. And the fund offers opportunities every year.
Annuity Freedom 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 options, including marketing grants and micro grants, which are awarded on an ongoing basis.
Black Founder Startup Grant
The SoGal Foundation and its partners run the Black Founder Startup Grant program on an ongoing basis. The organization provides grants of $10,000 to black and multiracial women and non-binary entrepreneurs. To be eligible, founders must have a legally registered business and intend to seek investor financing.
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