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Funding

Grants List

Use this Grant List to guide you through your funding journey. These grants are for Non Profit and For Profit Organizations. Download the Grants Tracker to follow your progress.
 

Starting and growing a small business is a challenging yet rewarding endeavor. For black-owned and women-owned businesses, securing the necessary funding can make a significant difference in achieving success. This landing page will guide you through various funding options available, highlighting their importance and how they can help you thrive.

 

The Importance of Business Funding

Business funding is crucial for:

  • Starting a Business: Initial capital is needed for purchasing inventory, securing a location, and covering early operational costs.

  • Scaling Operations: Funding allows businesses to expand their operations, hire more staff, and enter new markets.

  • Innovation and Development: With adequate funding, businesses can invest in research and development to create new products or services.

  • Financial Stability: Access to funds provides a safety net, ensuring that businesses can weather economic downturns or unexpected expenses.

 

Types of Business Funding to look for:

Investors

Description: Investors provide capital in exchange for equity or a share of the profits. This funding can come from venture capitalists, angel investors, or private equity firms.

Benefits:

  • Large sums of money can be raised.

  • Investors often provide valuable mentorship and industry connections.

  • Helps in accelerating growth.

Considerations:

  • Owners might have to give up a portion of control.

  • Requires a solid business plan and proof of potential profitability.

Grants

Description: Grants are non-repayable funds provided by government bodies, non-profits, and corporations. They are designed to support businesses that meet certain criteria, such as black-owned or women-owned enterprises.

Benefits:

  • Does not require repayment.

  • Can provide significant financial boost.

  • Often comes with additional support resources.

Considerations:

  • Highly competitive.

  • Requires detailed application and adherence to specific criteria.

Loans

Description: Business loans are funds borrowed from banks or financial institutions that must be repaid with interest.

Benefits:

  • Provides immediate access to funds.

  • Retain full ownership of the business.

  • Can help build business credit.

Considerations:

  • Requires repayment with interest.

  • Can be challenging to qualify for without a strong credit history.

Fundraising

Description: Fundraising involves raising small amounts of money from a large number of people, typically through platforms like Kickstarter or GoFundMe.

Benefits:

  • Engages the community and builds a customer base.

  • Does not require repayment or giving up equity.

  • Can be a great marketing tool.

Considerations:

  • Time-consuming.

  • Not guaranteed to reach funding goals.

Crowdfunding

Description: Crowdfunding platforms allow business owners to raise money from a large number of investors or backers, often in exchange for early access to products or other rewards.

Benefits:

  • Access to a broad audience.

  • Provides market validation.

  • No repayment required.

Considerations:

  • Requires a strong marketing campaign.

  • May involve giving away products or other rewards.

 

Special Considerations for Black-Owned and Women-Owned Businesses

Access to Resources

Black-owned and women-owned 25 often face unique challenges, including limited access to traditional funding sources. Tailored funding programs and grants specifically aimed at these businesses can provide the necessary support to level the playing field.

 

Community Support

Funding programs for black-owned and women-owned businesses not only provide financial support but also foster a sense of community and support. This can lead to networking opportunities, mentorship, and additional resources that can help businesses thrive.

 

Empowerment and Growth

By securing appropriate funding, black-owned and women-owned businesses can empower themselves to grow, innovate, and contribute to their communities. This growth not only benefits the individual business owners but also contributes to the overall economic development of underrepresented communities.

 

Get Started Today!!

Securing funding is a critical step in the success of any small business. Explore the various funding options available and take advantage of the resources specifically designed to support black-owned and women-owned businesses.

CHECK OUT these funding options

The Eileen Fisher Women-Owned Business Grant Program

The Women’s Business Enterprise National Council (WBENC) Grant

  • Amount: Varies

  • Description: WBENC offers grants and resources to women-owned businesses certified through their network.

  • Link: WBENC Grant

The National Black MBA Association Scale-Up Pitch Challenge

  • Amount: Varies

  • Description: NBMBAA hosts pitch competitions where Black entrepreneurs can win funding and resources to scale their businesses.

  • Link: NBMBAA Scale-Up Pitch Challenge

The Tory Burch Foundation Fellows Program

  • Amount: Varies

  • Description: The Tory Burch Foundation offers grants, mentoring, and networking opportunities to women entrepreneurs through their Fellows Program.

  • Link: Tory Burch Foundation Fellows Program

The National Minority Supplier Development Council (NMSDC) Business Consortium Fund

  • Amount: Varies

  • Description: NMSDC provides grants and financial assistance to minority-owned businesses certified through their network.

  • Link: NMSDC Business Consortium Fund

Stacy's Rise Project

  • Amount: $15,000

  • Description: The Stacy's Rise Project offers funding, mentorship, and community support to small businesses.

  • Link: Stacy's Rise Project

FedEx Small Business Grant Contest

Visa Everywhere Initiative

  • Amount: $100,000

  • Description: Visa's initiative provides funding for innovative small businesses across various industries.

  • Link: Visa Everywhere Initiative

Amber Grant for Women

  • Amount: $25,000

  • Description: This grant specifically supports women entrepreneurs with funding for their business ventures.

  • Link: Amber Grant for Women

Black Business Amazon Accelerator Program

Verizon Small Business Digital Ready

 

Corporate Counsel Women of Color Grants

  • Amount: $5,000 (5 grants available)

  • Description: Grants specifically for women of color entrepreneurs, provided by Corporate Counsel Women of Color.

  • Link: Corporate Counsel Women of Color Grants

Comcast Rise

  • Description: Comcast's program offers support and resources for minority-owned small businesses.

  • Link: Comcast Rise

Nav’s Small Business Grant

  • Amount: $10,000

  • Description: Nav's grant contest offers funding opportunities for small businesses nationwide.

  • Link: Nav’s Small Business Grant

VentureWell E-Team Grant Program

Maryland Department of Housing and Community Development

Maine Community Foundation

 

Additional Resources:

PPP Application: SBA PPP Application

SBA Interim Final Rule re: Gross Income: SBA Interim Final Rule

American Seed Fund: American Seed Fund

Federal Grants:

Get the FULL list of GRANTS

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