Grants For First Time Female Business Owners - Many or all of the products shown here are from our partners who compensate us. This influences what products we write about and where and how they appear on the page. However, this does not affect our rating. Our opinion is our own. Here is a list of our partners and how we make money.
Business grants provide free money that can help black women grow or even launch businesses. As attractive as they may seem, small business grant competitions often have short application periods and a lot of competition for relatively small amounts of funding, so it's important to tap into other resources as well.
Grants For First Time Female Business Owners
In this list, we've rounded up the many business grants that are open to black women. Some are also open to other entrepreneurs. If a program is currently closed for application, please note its requirements and sign up to be notified when it reopens. You'll also find organizations that help black women business owners secure government contracts, attract investors, or find other funding opportunities.
Women Entrepreneurs Less Likely To Seek And Obtain Financing Than Men
The Fearless Strivers Grant Initiative, managed in partnership with Mastercard, is offering $20,000 in grants to four businesses across the country. In addition to funding, winners receive one-on-one mentoring and access to digital tools. Applicants must be black women, US citizens and 18 years of age or older. The 2023 cycle closes on August 31.
These $10,000 and $5,000 grants from the SoGal Foundation are intended to support Black women or non-binary entrepreneurs with "ambition to be the next billion dollar business." Grants are awarded on an ongoing basis, so you can apply for them at any time.
The HerRise Micro-Grant program gives $1,000 a month to small businesses owned by women of color. The grant is a program of the Yva Jourdan Foundation, the nonprofit arm of HerSuiteSpot. Applications close on the last day of the month.
Wish's Local Empowerment Program offers grants of $500 to $2,000 to black-owned business owners. To be eligible, applicants must have a physical storefront in the US; must be over 18 years of age; must have 20 or fewer employees; and must have an average annual revenue of less than $1 million.
The Pros And Cons Of Owning A Business
Currently in its fifth year, Publish Her's Business Impact Grant awards a $5,000 grant to a woman business owner of color. To qualify, you must be 21 years of age or older and a resident of the United States. Your business must have been in operation for at least one year, be 100% women-owned, and generate at least $50,000 in revenue. Applications close on 31 August 2023 and winners will be announced in October.
Sponsored by JPMorgan Chase's Advancing Black Pathways, the DigitalUndivided Breakthrough Program is open to Black or Latina women. To qualify, you must be at least 18 years old, your business must have been registered for at least one year and generate at least $50,000 in annual revenue. The selected winner will receive a $5,000 grant, a business mentor, and access to DigitalUndivided's community of Black and Latina women entrepreneurs.
Minority or women-owned businesses can win Galaxy Grants of $3,750 from Hidden Star, a 501(c)(3) nonprofit organization. Applications are open until June 30, 2023.
The Transform Business grant is open to entrepreneurs from systemically oppressed areas. BIPOC people, people with disabilities, queer, trans and non-binary people, as well as people who have been in prison can apply. Applications will be open from 20 July to 20 August 2023 and will be reviewed in August. Each recipient will receive a $1,000 micro-grant.
California Governor's Office Of Business And Economic Development (go Biz)
Comcast RISE grants go to different cities with each funding cycle. In each new city, the program offers a $5,000 grant. To apply, you must have been in business for at least three years and have 100 or fewer employees. This grant program was originally open exclusively to people of color and women, but has since been expanded to all small business owners. Applications for companies in the selected cities will be open from June 1 to June 30, 2023.
A collaboration between VistaPrint, the Boston Celtics Shamrock Foundation and the NAACP, the Power Forward Small Business Grant provides a $500,000 grant to black-owned small businesses in the New England area. To qualify, your business must employ two to 25 people (including owners) and be located in Massachusetts, Maine, New Hampshire, Rhode Island, Vermont, or certain parts of Connecticut. Each winner will receive a $25,000 grant.
The Amber Grant Foundation awards monthly grants of up to $10,000 to help women entrepreneurs launch their businesses. If you receive one of the $10,000 monthly grants, you will also win an annual $25,000 Amber Grant.
To apply, you will complete a short form on the Amber Grant website, telling the organization your business idea and how you will spend your grant funds. Please note that you will need to pay a $15 registration fee.
Division Of Small Business
Founded in 1981, the National Association of Self-Employed Workers, or NASE, is dedicated to supporting entrepreneurs and micro-enterprises. Its grant program offers NASE members up to $4,000 to fund a specific need, whether it's purchasing equipment, hiring staff, launching a marketing plan, or other approved purchases.
Applications are reviewed continuously throughout the year and the organization awards one grant per month. To apply for a NASE Growth Grant, you must join NASE and remain in good standing with the organization for at least three months.
Corporate Counsel Women of Color awards five $5,000 grants to women business owners of color. Applications are accepted on a rolling basis and grants are awarded twice a year. To qualify, your business must have been in business since January 1, 2020; must be a US-based for-profit business; and it has to generate at least $25,000 in revenue from the start.
Now in its third year, the Coalition to Support Black Businesses offers $5,000 grants to black-owned businesses each fall. After a period of orientation and training, selected recipients receive an additional $25,000. To qualify, businesses must have between 3 and 20 employees and be in an "economically vulnerable community," as defined by the Stressed Communities Index.
Small Business Grants For Women
The Fast Break for Small Business Grant provides $10,000 in funding and $500 in free LegalZoom services. This program, offered in partnership with the Accion Opportunity Fund, is funded by the NBA, WNBA and NBA G League. Applications will reopen later this year.
The National Black Business Pitch competition award awards up to $10,000 to three companies. To qualify, your business must be black-owned and located in the United States. Applications for the 2023 cycle close on June 1. Thirty companies will then be selected to participate in the field competition held on August 23 and 24.
A partnership between the Fearless Foundation and the Tory Burch Foundation, the Women of Color Grant Program provides grants of $10,000 to $20,000 to up to 75 businesses owned by women of color. To qualify, businesses must be 51% owned by women of color. Applications for the 2023 cycle close on 28 April. Winners will be chosen in July 2023.
In its second year, the REI Navigate program is a four-month entrepreneurship program open to overseas-related businesses with at least one founder who identifies as Black, Indigenous, Latinx, Asian American or Pacific Islander. In addition to mentorship and programming, participants receive a $25,000 grant. The Class of 2023 was announced on June 1st. Applications for the 2024 program are expected to open early next year.
First Time Homebuyer Loans And Programs
The Black Ambition Award is open to Black and Hispanic individuals in the process of creating an early-stage business in one of the following categories: consumer products and services; health; media and entertainment; technology; and web 3.0. One grand prize winner receives $1,000,000 and 15 other teams win between $15,000 and $250,000. Applications for the 2023 cycle close on May 8.
The partnership between BOSS Network and Sage, the Invest in Progress Grant, will provide $10,000 in grants to 25 Black women entrepreneurs. To qualify, the business must be owned by a black woman, demonstrate a need for financing, and be a US-based for-profit business. The 2023 application cycle will close on February 24.
Black Girl Ventures, or BGV, says its mission is to "provide access to community, capital and capacity building for Black/Brown female-identifying female founders." The organization's marquee offering is a crowdfunded pitch competition program in which participating entrepreneurs have three minutes to pitch their business idea, followed by a three-minute question-and-answer session with a panel of professionals before public The top three teams win cash prizes, but all teams get to keep the capital they've earned. study again
IFundWomen, or IFW, helps women founders and women who identify with any race or ethnicity find capital through crowdfunding and assists with training, networking and grant opportunities. Organizational grant center aggregates offer opportunities to women with current application deadlines. study again
Women Owned In Retail
Black business owners with a professional Amazon seller account can sign up for the Black Business Accelerator program. Businesses will receive a $500 credit toward their Amazon startup and operating costs
Grants for female small business owners, grants for black female small business owners, grants for 1st time business owners, grants for female business owners, grants for first time home owners, grants for first time small business owners, grants for african american female business owners, government grants for first time business owners, grants for black female business owners, grants for minority female business owners, grants for first time business owners, grants for business owners
