Grants

Top 8 Business Grants for Black Women Entrepreneurs

The newest wave of the Black Lives Matter motion has amplified what Black people in America have recognized for centuries:
Systemic racism is alive and well in America. That deep-seated, foundational racism touches each side of this country’s inner workings, including in terms of business funding.
Even if Black women are starting companies at the fastest rate amongst any racial group and that the variety of Black female-owned businesses in America has elevated by 163% since 2007;
they continue to be chronically underfunded.
With that in mind, we’ve gathered a listing of some of the greatest business grants, funding opportunities and resource hubs for Black ladies business owners.
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8 grant sources and business grants for black women

While there aren’t a ton of grants meant particularly for Black women, you will see Business Grants opportunities focused extra generally towards women, minorities, or Black business owners;
all of which you may be eligible for—so we’ve listed a number of of those below.
One other caveat to remember regarding deadlines:
Application windows may be fairly short, and plenty of Business Grants programs that are designed for Black ladies enterprise homeowners or Black entrepreneurs of any gender identification are presently closed to purposes.

1. SBA 8(a) Business Development Program

Actually, the SBA 8(a) Business Development Program isn’t a grant program, and it’s also not one of many several (and highly coveted) loan packages for which the SBA is greatest known.
Moderately, it’s a business help program that aids “economically and socially deprived business homeowners” in securing government contracts.
Annually, the federal government aims to put aside 5% of its annual contracting price range to small businesses which can be owned and operated by marginalized entrepreneurs.

2. IFundWomen

One other incredible resource is IFundWomen (IFW), which helps feminine and female-identified founders of any race or ethnicity seek capital (specifically through crowdfunding), teaching, networking and Business Grants opportunities.
However for today’s purposes, we direct you to IFW’s grants hub the place it has aggregated a group of essentially the most exciting grant alternatives for ladies (crucially, with up-to-date software deadlines).

3. NASE Growth Grants

Based in 1981, the National Association for the Self-Employed (NASE) is the nation’s “largest nonprofit, non-partisan association” devoted to supporting entrepreneurs and micro-businesses.
One way the group helps these smallest of small business owners is through its Business Grants program.
This program awards NASE Members as much as $4,000 to finance a selected need, whether or not that’s buying equipment, hiring workers, launching a marketing plan, or one other accepted goal.
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4. Minority Business Development Agency (MBDA)

The Minority Business Development Agency (MBDA) is a federal company that helps the establishment and development of minority-owned companies within the U.S.
Very like the SBA, the MBDA has over 40 physical locations throughout the country where minority entrepreneurs can search financial assistance and enterprise consulting.

5. Grants.gov

The be-all and end-all of federal Business Grants resources, Grants.gov is a portal where federal businesses are offering grant packages;
each particularly for minority-owned businesses and in any other case—post information about their choices, together with eligibility necessities, funding quantities and application deadlines.
You’ll be able to look for a grant according to a number of search standards, including your trade and the sponsoring federal company.

6. The Amber Grant Foundation

Just like the NASE Growth Grant, the Amber Grant Foundation awards one $10,000 grant to a small business owner per month.
On this case, however, grants are provided solely to female entrepreneurs, and so they’re intended particularly to help new entrepreneurs launch their companies.
For those who’re awarded one of many $10,000 monthly grants, additionally, you will be in the running to win the Amber Grant’s yearly $25,000 grant.
The application process is easy too: You’ll fill out a short form proper on the Amber Grant web site, where you’ll inform the organization a little bit about your small business thought and the way you’ll spend your Business Grants funds.
Note that you’ll must pay a $15 software payment.
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7. Feminine Founders Fund

For those who’re a tech entrepreneur searching for early-stage funding alternatives, think about pitching the Female Founders Fund (FFF).
Launched by “serial entrepreneur” Anu Duggal in 2014 and powered by a crew of female traders, the fund is devoted to “investing within the subsequent generation of transformational expertise companies based by ladies.”
Its portfolio boasts among the “buzziest” female-owned companies on the market, like Co-Star, Zola, Billie, Minibar and Hire the Runway.
FFF invests in B2B, shopper, fintech and well being care companies which have at the least one feminine founding member, and it primarily focuses on investing in seed-stage companies.

8. Black Girl Ventures

Lastly, Black Girl Ventures (BGV) supplies teaching, growth and community resources for Black and Brown female-identified entrepreneurs.
BGV’s marquee offering is its crowdfunded pitch competition program, by which participating entrepreneurs have three minutes to pitch their business thought, adopted by a three-minute Q&A session with a panel of professionals in entrance of an audience.
Then, the viewers votes “with their {dollars}” on the crowdfunding platform SheRaise. First, second and third place winners are introduced, however everyone participating within the BGV Pitch has the chance to raise capital.
Winners obtain additional perks, as well, like free business teaching and a discount on graphic design services.
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