Securing funding is a significant challenge for many Black-owned businesses and entrepreneurs, especially those seeking to grow and scale their operations. Fortunately, numerous grants are specifically designed to provide financial support and resources to Black entrepreneurs and minority-owned businesses. Whether you’re launching a startup or expanding an existing company, these grants can offer critical assistance without the need to repay the funds. In this article, we’ve compiled a comprehensive list of 45 small business grants tailored for Black-owned businesses.
From federal funding opportunities to private foundations, these grants can help you achieve your business goals.
1. Wish Local Empowerment Grant
Black business owners can apply for grants ranging from $500 to $2,000 through the Wish Local Empowerment Grant program. Eligible applicants must be 18 or older, have 20 or fewer employees, generate less than $1 million in annual revenue, and own a brick-and-mortar business in the U.S. Applications are accepted on a rolling basis.
2. HerRise Microgrant
The Yva Jourdan Foundation and HerSuite Spot offer $1,000 HerRise micro-grants to women of color entrepreneurs each month. Eligible businesses must be 51% woman of color-owned, for-profit, and registered in the U.S. Applications are due at the end of each month.
3. The Freed Fellowship Grant
The Freed Fellowship provides monthly $500 grants to people of color and women business owners. Recipients are also eligible for a year-end $2,500 grant. Applications are accepted year-round.
4. Galaxy Grants
Hidden Star offers Galaxy Grants up to $2,750 for women and people of color business owners.
5. Transform Business Grant
This grant offers $1,000 micro-grants to business owners from systemically oppressed backgrounds, including minorities, LGBTQ+ individuals, people with disabilities, and the formerly incarcerated.
6. National Association for the Self-Employed (NASE) Growth Grants
The NASE offers up to $4,000 in growth grants for small businesses. Applicants must be active NASE members and provide detailed plans on how they will use the funds. Applications are accepted on a rolling basis.
7. Founders First CDC Grants
Founders First CDC offers regional grants to entrepreneurs, including Asian, Black, Latinx, LGBTQ+, and veteran business owners. The next cycle opens for Southern California businesses in October 2024, and Chicago-based businesses in January 2025.
8. Breakthrough Program by DigitalUndivided
This program offers $5,000 grants, mentorship, and business workshops for Black and Latina women entrepreneurs. Sponsored by J.P. Morgan Chase, the program focuses on startup funding and marketing strategies.
9. BGV Pitch Competition
The Black Girl Ventures Pitch Competition awards female entrepreneurs grants of $15,000 for first place, $10,000 for second place, and $5,000 for third place. The 2024 competitions are open for NYC and Los Angeles-based businesses.
10. Amber Grant for Women
The Amber Grant awards $10,000 monthly to women-owned businesses and an additional $25,000 to a year-end winner. Applicants simply need to tell their business story and explain how they would use the funds. This grant is open to women across all industries, with monthly deadlines.
11. Tory Burch Foundation Capital Program
In partnership with Bank of America, the Tory Burch Foundation Capital Program provides access to affordable loans for women entrepreneurs. Eligible businesses can apply for loans of up to $100,000, with a low interest rate and flexible repayment terms. While not a direct grant, this program supports the financial growth of women-owned businesses.
12. Pepco Energizing Small Business Grant Program
This Washington, D.C.-based program offers grants to food-focused businesses. Eight businesses will share $592,000 in funding.
13. Fifteen Percent Pledge Achievement Award
Black-owned e-commerce businesses with over $100,000 in annual revenue can apply for this award. One business will win $200,000, with additional prizes of $35,000 and $15,000.
14. Feed the Soul’s Restaurant Business Development Grant
This program supports food businesses owned by Black, Indigenous, Latinx, LGBTQ+, veterans, and individuals with disabilities. Along with financial support, participants receive six months of consulting services.
15. PepsiCo’s Juntos Crecemos Grant Program
PepsiCo, in partnership with Hello Alice, offers $10,000 grants to 20 women-owned food and beverage businesses. Eligible businesses include restaurants, food trucks, and bodegas.
16. Faire Small Business Grant
Independent retailers launched in 2023 or 2024 are eligible for the Faire Small Business Grant. Winners receive $5,000 in store credit to purchase inventory from Faire.
17. Tory Burch Foundation Fellows Program
This annual program offers $5,000 grants and 0% interest Kiva loans to 50 women entrepreneurs. Fellows participate in a yearlong coaching and workshop series.
18. REI Navigate Program
This four-month accelerator program supports minority-owned businesses in the outdoor and activity industries. Participants must have annual revenues between $75,000 and $2 million. Winners receive $25,000 grants.
19. NAACP Powershift Entrepreneur Grant
Black-owned small businesses can apply for the NAACP Powershift Entrepreneur Grant, which awards $25,000 along with mentorship and resources.
20. USDA Rural Business Development Grant Program
This grant, provided by the USDA, supports small businesses in rural areas, including minority-owned businesses. Eligible applicants must have 50 or fewer new employees, less than $1 million in gross revenue, and be located in a qualifying rural area. Funds can be used for business expansion, land development, and training. Applications are accepted annually through USDA state offices.
21. Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Programs
These federal programs provide grants and contracts to early-stage small businesses focused on commercializing innovative research and development. The SBIR and STTR programs offer funding opportunities for high-tech and science-driven companies looking to bring new technologies to market. Businesses can apply through federal agencies, with opportunities available year-round.
22. The Pepper Startup Grant
This annual competition offers a $5,000 grant to a Black woman or nonbinary business owner. Applicants must run early-stage businesses that have raised less than $500,000.
23. Power Forward Small Business Grant
Black-owned businesses in New England are eligible for $25,000 grants through this program, funded by VistaPrint and the Boston Celtics Shamrock Foundation.
24. Merchant Maverick Opportunity Grants Program
The most recent cycle awarded $2,000 grants to teen and kid-run businesses. Details for future rounds are forthcoming.
25. KKR Small Business Builders Grant
Global investment firm KKR offers $10,000 grants through its Small Business Builders initiative. The program focuses on supporting businesses led by women, people of color, and military veterans. Eligible businesses must have fewer than 50 employees and annual revenue under $7 million. Applications for the next cycle will open soon.
26. Beyond Open Grant
Minority, women, veteran, LGBTQ+, and disabled small business owners based in Charlotte, NC, can apply for Beyond Open grants. Grant amounts range from $10,000 to $150,000.
27. eBay Up and Running Grant
This grant program awards $10,000 to 50 minority-owned businesses that sell on eBay. Eligible businesses must have had an active eBay account before December 2023.
28. Black Kitchen Initiative
Run by the Southern Restaurant for Racial Justice, LEE Initiative, and Heinz, the Black Kitchen Initiative offers grants of $15,000 to $25,000 to Black-owned food businesses.
29. Fast Break for Small Business
In partnership with LegalZoom, the NBA, WNBA, and NBA G-League, this program awards $10,000 to 150 small businesses. Applicants must have been in operation for at least three months and have annual revenue below $1 million.
30. Jobber Grant
Home service businesses can apply for a $10,000 grant from Jobber. The 2024 cycle winners were announced in August, and the next cycle’s details have yet to be announced.
31. Famous Amos Ingredients for Success Entrepreneurs Initiative
Black-owned businesses can apply for a $50,000 grant through the Famous Amos Ingredients for Success Entrepreneurs Initiative. Winners also receive mentorship and resources.
32. National Black Business Pitch
This annual competition allows Black business owners to pitch their companies for prizes up to $10,000. The 2024 competition was held in August, with winners selected from virtual presentations.
33. MUSE Accelerator
Ulta Beauty’s MUSE Accelerator provides $50,000 grants to minority-owned beauty brands, along with educational programming.
34. The Black Ambition Prize
This prize awards up to $1 million to Black or Hispanic/Latinx entrepreneurs. An additional 15 teams can win between $15,000 and $250,000, along with coaching and mentoring opportunities.
35. Grants.gov
Grants.gov is a comprehensive database that helps individuals and businesses find and apply for federal grants across various U.S. government agencies. The platform includes more than 1,000 grant programs, such as those offered by the U.S. Department of Commerce and the Small Business Administration (SBA). To apply, businesses need a unique entity ID and an active Grants.gov account.
36. Comcast RISE Investment Fund
Open to small business owners in Atlanta, Houston, Jacksonville, Richmond, and Southern Colorado, this grant offers $5,000 to 100 business owners. To be eligible, businesses must have been operating for at least three years and have 25 or fewer employees.
37. National Black MBA Association Scale-Up Pitch Challenge
Black founders can compete for cash prizes in this annual pitch competition. The grand prize winner receives $50,000, second place wins $10,000, and third place is awarded $7,500.
38. FedEx Small Business Grant Contest
This annual contest is open to for-profit small businesses with fewer than 99 employees. One grand prize winner will receive $50,000, while nine other businesses will receive $20,000 each.
39. CO-100
Previously called the America’s Top Small Business Awards, the CO-100 is open to U.S.-based small businesses. One winner receives a $25,000 grant, while 10 other businesses will receive $2,000 each.
40. National Minority Supplier Development Council (NMSDC) Growth Initiative
The NMSDC offers grants to minority-owned businesses as part of its Growth Initiative. These grants are designed to support businesses as they scale and grow. To qualify, businesses must be minority-owned and certified by NMSDC. Application cycles and amounts vary based on region and program specifics.
41. Fearless Fund Grant Program
Fearless Fund provides grants of up to $20,000 to Black women entrepreneurs through its Fearless Strivers Grant Contest. The fund focuses on addressing racial disparities in venture capital funding for women of color. In addition to the grant, recipients gain mentorship and support.
42. SoGal Foundation Black Founder Startup Grant
In partnership with Winky Lux, Bluemercury, and twelve other sponsors, the SoGal Foundation offers grants of $5,000 to Black women or nonbinary entrepreneurs. In addition to the financial support, recipients gain access to SoGal’s resources, including fundraising advice and investor connections. Applications are accepted on a rolling basis.
43. Coalition to Back Black Businesses Grant Program
Funded by American Express, this initiative offers $5,000 grants to Black-owned small businesses. Select recipients are also eligible for an additional $25,000 enhancement grant to further grow their businesses.
44. Hello Alice Small Business Growth Fund
Hello Alice offers grants of up to $5,000 to small business owners from underrepresented communities. Eligible businesses must be for-profit, based in the U.S., and actively seeking growth opportunities. Applications are accepted on a rolling basis, with multiple grant cycles throughout the year.
45. Cartier Women’s Initiative Award
The Cartier Women’s Initiative offers grants to women entrepreneurs from around the world. Regional finalists receive $30,000, while regional winners are awarded $100,000. In addition to the financial grant, winners gain access to mentorship, business coaching, and networking opportunities.
Get Funded: Take Advantage of These Grants for Black Entreprenuers
Access to funding is essential for the growth and sustainability of Black-owned businesses, and these 45 grants provide opportunities to overcome financial barriers and thrive in competitive markets. By taking advantage of these resources, entrepreneurs can not only secure financial support but also gain mentorship, educational programs, and networking opportunities.
Be sure to check eligibility criteria and application deadlines for each grant, as many of these programs can be the stepping stones that lead your business toward long-term success. With persistence and the right funding, Black-owned businesses can continue to contribute to economic growth and innovation.