Small Business Grants for Black Women
If you a Black woman looking to start or grow your small business, there are a variety of grants available specifically for Black women entrepreneurs. These grants provide not only financial assistance, but also resources and opportunities to help Black women succeed in the business world. They can be used for a variety of business expenses such as hiring employees or paying for marketing, equipment, and office rent.
List of Small Business Grants for Black Women
The following grants are offered specifically to Black women or minority women in general.
- Comcast RISE
Comcast RISE is an investment program that awards $10,000 grants to businesses owned by women and people of color several times per year. The program is targeted to entrepreneurs in specific cities, and the application cycle is open to businesses in those regions. The program also offers "marketing services and tech makeovers", which are designed to help businesses grow and develop, but do not include cash prizes. The program is a great opportunity for businesses looking for funding and resources to grow their operations.
- Visa She's Next Grant Program
The Visa She's Next program is a business grant program specifically for Black women-owned businesses offered through Visa. To be eligible, businesses must meet certain qualifications such as being owned by a Black woman, having been in operation for at least two years, being a B2C company, having a minimum revenue of $24k, and operating within certain geographic restrictions. The program provides funding and resources to help these businesses grow and succeed.
- Digitalundivided Breakthrough Program
Digitalundivided's Breakthrough Program is a collaboration with JPMorgan Chase's Advancing Black Pathways, which provides business training, funding, growth marketing strategies, and networking opportunities to scale ventures. The program is open to businesses led by Black or Latina women that have been registered for at least a year, have a technology component incorporated in their business, and generate a minimum of $50,000 annual business revenue. Each accepted company receives a $5,000 grant.
- SoGal Black Founder Startup Grant
The SoGal Foundation, in partnership with companies such as Bluemercury, Twilio, and others, offers startup grants to businesses owned by Black women or Black nonbinary entrepreneurs. The grants range from $5,000 to $10,000 and awardees also receive fundraising advice, with a focus on investor financing, and lifetime access to the SoGal Foundation team. Applications are accepted on a rolling basis, so entrepreneurs can apply on the SoGal website at any time.
- Fearless Strivers Grant Contest
The Fearless Fund, in collaboration with Mastercard, offers $10,000 grants to businesses owned by Black women through the Fearless Strivers Grant Contest. The winners also receive digital tools to help them establish and sustain their online presence, as well as one-on-one mentorship with a Mastercard small-business mentor. The Fearless Fund runs a national grant program, as well as city-specific grant contests in various locations across the United States. To qualify for this small-business grant, businesses must be based in the U.S., have 50 or fewer employees, and have made $3 million or less in annual revenue in the past year. It's important to keep in mind that the availability of grants can change over time, so it's important to research and apply for grants on a regular basis. Additionally, many grants have deadlines, so it's important to keep track of application deadlines and plan accordingly.
- Minority Business Development Agency Centers
The Minority Business Development Agency (MBDA) operates a network of business centers across the country, which are designed to help minority business owners access capital, secure contracts and develop financial strategies. These centers can work with entrepreneurs to identify the right financing options for their business, including federal, state, and private small-businesses.
- The Dream Big Awards
The Dream Big Awards, presented by the U.S. Chamber of Commerce, recognizes and celebrates the best American small businesses. The winner of the Small Business of The Year award receives a $25,000 cash prize, a one-year Chamber of Commerce membership, a promotional video about their business, and a feature article in CO magazine. Additionally, there are eight other awards that include categories such as Minority-Owned Business Achievement Award, LGBTQ-Owned Business Achievement Award, Woman-Owned Business Achievement Award, and Community Support and Leadership Award. To qualify, businesses must have been operating for at least one year, primarily within the United States, and have less than 250 employees or have gross revenues of less than $20 million for each of the two previous years.
View a list of all grants available for women-owned small businesses at: Small Business Grants for Women