Women and minority entrepreneurs often face extra challenges when starting and running their businesses. Access to funding is often a major barrier to entry. But there are grant opportunities that aim to close these gaps.
Here 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 manage 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 awards are granted on a rolling basis.
Coalition to Back Black Businesses
The Coalition to Back Black Businesses is a multi-year initiative co-founded by the U.S. 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 over $14 million in grants and other resources over the next four years. Eligible businesses can apply for $5,000 grants. And awardees also gain access to mentorship and training, plus the opportunity to apply for extra funding the following year. The annual program accepts applications each fall.
The Kitty Fund is a small business grant program specifically for moms, named in honor of Founder’s First CEO Kim Folsom‘s mother, Catherine “Kitty” Abrams Tadlock Webster. The program is open to mom-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 are partnering to launch the Capital One Business grant program. The program supports Black-owned businesses with $10,000 grants, along with free resources in the Capital One’s Business Hub. The program officially launched this spring and will award 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 the grand prize totaling $50,000. This is an annual program. The 2022 contest has not launched yet.
Asian Women Giving 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 qualify, projects must relate to arts and culture or social awareness. Eligible businesses can apply for $15,000 per project. The 2022 application cycle has already passed, but the program repeats when additional funding is available.
First Nations Development Institute Grants
The First Nations Development Institute provides grants to Native American projects and organizations throughout 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 for a Just Society Grants.
Foundation for a Just Society offers a wide array of grants throughout the year. The organization supports businesses and initiatives in several regions, including the U.S. Southeast and New York City. The goal is to create a more just society by supporting ideas led by women, girls, and LGBTQI individuals. Check the website frequently for current opportunities.
Sage Invest in Progress Grant
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.
Annuity Freedom BIPOC Small Business Grant
Annuity Freedom created its BIPOC Small Business Grant program in response to the pandemic’s impact on BIPOC-owned businesses. They offer multiple grant opportunities, including marketing grants and micro-grants, which are awarded on a rolling basis.
Black Founder Startup Grant
The SoGal Foundation and its partners run The Black Founder Startup Grant program on a rolling basis. The organization provides grants of $10,000 to Black and multiracial women and nonbinary entrepreneurs. To qualify, founders must have a legally registered business and plan to seek investor financing.
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Source : SmallBizTrends