20 Powerful Business Grants for Black Men and Women
Starting a business can be a daunting task, especially if you don’t have the financial resources. However, there are a number of available business grants for black men and women that can help you get your business off the ground.
Grants are the most sought after options because they are considered free financial aid meaning that you don’t have to pay it back as long as you meet all of the conditions.
Therefore, this article is an analysis of 20 business grants for black men and women and the benefits of applying for these grants.
20 Business Grants for Black Men and Women
Here are 20 business grants that black men and women could benefit from:
1. The Black Owned Business Grant from the U.S. Small Business Administration (SBA)
The SBA offers a number of grants to help small businesses, including the Black Owned Business Grant. This grant is available to black-owned businesses that are at least two years old and have annual revenue of less than $5 million. The grant can be used for a variety of purposes, such as working capital, equipment purchases, or marketing.
2. The Minority Business Development Agency (MBDA) Business Development Grant
The MBDA is a federal agency that promotes the growth and development of minority-owned businesses. The MBDA offers a number of grants to help minority-owned businesses, including the Business Development Grant. This grant can be used for a variety of purposes, such as feasibility studies, marketing, or training.
3. The National Black Chamber of Commerce (NBCC) Business Builder Grant
The NBCC is a national organization that promotes the interests of black businesses. The NBCC offers a number of grants to help black-owned businesses, including the Business Builder Grant. This grant can be used for a variety of purposes, such as startup costs, working capital, or marketing.
4. The U.S. Department of Commerce Minority Business Development Grant
The U.S. Department of Commerce offers a number of grants to help minority-owned businesses, including the Minority Business Development Grant. This grant can be used for a variety of purposes, such as feasibility studies, marketing, or training.
5. The National Endowment for the Humanities (NEH) Humanities Business Grant
The NEH offers a number of grants to support humanities research and education. The Humanities Business Grant is available to businesses that use humanities research to create new products or services. This grant can be used for a variety of purposes, such as research, development, or marketing.
6. The National Science Foundation (NSF) Small Business Innovation Research (SBIR) Grant
The NSF offers a number of grants to support small businesses that are developing new technologies. The SBIR Grant is available to businesses that are at least two years old and have annual revenue of less than $10 million. This grant can be used for a variety of purposes, such as research and development, prototype development, or marketing.
7. The U.S. Department of Agriculture (USDA) Business and Industry Grant
The USDA offers a number of grants to help businesses in rural areas. The Business and Industry Grant is available to businesses that are located in rural areas and have annual revenue of less than $5 million. This grant can be used for a variety of purposes, such as working capital, equipment purchases, or marketing.
8. The U.S. Department of Health and Human Services (HHS) Small Business Health Insurance Plan (SHOP) Grant
The HHS offers a number of grants to help small businesses provide health insurance to their employees. The SHOP Grant is available to businesses that are at least two years old and have annual revenue of less than $500,000. This grant can be used to offset the cost of health insurance premiums for employees.
9. The U.S. Department of Labor (DOL) Women’s Business Ownership Grant
The DOL offers a number of grants to help women-owned businesses. The Women’s Business Ownership Grant is available to women-owned businesses that are at least two years old and have annual revenue of less than $5 million. This grant can be used for a variety of purposes, such as working capital, equipment purchases, or marketing.
10. The U.S. Department of Veterans Affairs (VA) Small Business Veteran Owned Grant
The VA offers a number of grants to help veterans-owned businesses. The Small Business Veteran Owned Grant is available to veteran-owned businesses that are at least two years old and have annual revenue of less than $10 million. This grant can be used for a variety of purposes, such as working capital, equipment purchases, or marketing.
11. The Google Black Founders Fund
Google offers a number of grants to help black entrepreneurs. The Google Black Founders Fund is a $10 million fund that provides grants of $50,000 to black entrepreneurs who are building innovative businesses.
12. The Comcast NBCUniversal LIFT Labs Accelerator
Comcast NBCUniversal offers a number of grants to help black entrepreneurs. The LIFT Labs Accelerator is a six-month program that provides black entrepreneurs with mentorship, training, and funding.
13. The Goldman Sachs 10,000 Small Businesses Program
The Goldman Sachs 10,000 Small Businesses Program is a five-year program that provides black entrepreneurs with mentorship, training, and funding. The program has helped over 10,000 black entrepreneurs start or grow their businesses.
14. The Mastercard Start Path Program
The Mastercard Start Path Program is a global program that provides black entrepreneurs with mentorship, training, and funding. The program has helped over 2,000 black entrepreneurs start or grow their businesses.
15. The PepsiCo Next Generation Leaders Program
The PepsiCo Next Generation Leaders Program is a program that provides black entrepreneurs with mentorship, training, and funding. The program has helped over 1,000 black entrepreneurs start or grow their businesses.
16. The Visa Everywhere Initiative
The Visa Everywhere Initiative is a global program that provides black entrepreneurs with mentorship, training, and funding. The program has helped over 1,000 black entrepreneurs start or grow their businesses.
17. The Wells Fargo African American Business Development Program
The Wells Fargo African American Business Development Program is a program that provides black entrepreneurs with mentorship, training, and funding. The program has helped over 1,000 black entrepreneurs start or grow their businesses.
18. The AT&T Aspire Program
The AT&T Aspire Program is a program that provides black entrepreneurs with mentorship, training, and funding. The program has helped over 1,000 black entrepreneurs start or grow their businesses.
19. The Bank of America Black Business Accelerator Program
The Bank of America Black Business Accelerator Program is a program that provides black entrepreneurs with mentorship, training, and funding. The program has helped over 1,000 black entrepreneurs start or grow their businesses.
20. The Capital One Venture Capital Fund
The Capital One Venture Capital Fund is a fund that invests in black-owned businesses. The fund has invested in over 100 black-owned businesses.
In addition to these grants, there are a number of other available business grants for black men and women. To find out more about these grants, you can visit the websites of the organizations that offer them. You can also search for “black business grants” online.
Benefit of Getting a Business Grants as a Black Man or Woman
Getting a business grant can be a great way to get your business off the ground. However, it’s important to remember that not all grants are created equal. Some grants are more competitive than others, and some have more stringent requirements. It is important to do your research before applying for a grant to make sure that you’re eligible and that you have a good chance of being awarded the grant.
If you’re successful in getting a business grant, it can be a great way to get your business off the ground. The money from the grant can be used to cover a variety of expenses, such as startup costs, working capital, or marketing. A business grant can also help you to build your credibility and attract other investors.
Steps to Take Before Applying for a Business Grants for Black Men and Women
- Determine how much funding you’ll need,
- Fund your business first with self-funding before asking from others. This will make them know that it is a legit business.
- Get venture capital from investors.
- Use Crowdfunding to fund your business.
- Get a small business loan.
- Opt for SBA investment programs.
Conclusion
This article is an analysis of 20 available business grants for black men and women and also how they can take advantage of these opportunities.
Therefore as a black man or woman who is thinking about starting a business, I encourage you to research the available business grants. There are a number of grants available that can help you to get your business off the ground.
