Black-owned businesses often face unique challenges when it comes to securing financial support. Whether you are a new business or looking to expand, grants can help you procure financial help without accumulating debt. According to Grantwatch and Nerdwallet, here are five grants designed explicitly for minority-owned firms.
- Brown Girl Jane X Shea Moisture
Brown Girl Jane and Shea Moisture joined forces to help women-owned beauty brands. The companies will award grants between $10,000 and $25,000 to Black and women-owned beauty brands. To be eligible, the business must be registered in the United States and have been operating for at least one year.
- The Corporate Counsel Women Of Color
The Corporate Counsel Women of Color is offering $2,500 grants to women of color entrepreneurs. To be eligible, the businesses must be a legal for-profit business based in the United States and established on or before Jan. 1, 2020, and entrepreneurs must be 18 years or older on the date of the application. CCWC will award grants in January 2025.
Additionally, the organization provides mentorship for up-and-coming business owners. Visit the CCWC website for more information.
- Global D Prize Competition
According to the organization’s website, the Global D-Prize Competition is an initiative that supports small businesses and addresses social issues such as poverty.
“We award startup grants of up to $20,000 to entrepreneurs launching new organizations. We believe the world needs more social impact organizations, and we seed for-profit ventures.”
tom-banner ampforwp-incontent-ad3">This grant is available for U.S. and international businesses. The deadline to apply is Nov. 3, 2024.
- The Wish Empowerment Program
The Wish Local Empowerment Program offers grants from $500 to $2,000 to support struggling Black-owned businesses. Eligible businesses must be Black-owned and have at least 20 employees. They must also have a brick-and-mortar location in the United States.
- The HerRise Microgrant
The HerRIse Microgrant initiative supports women-owned businesses. The organization awards a $1,000 grant each month to a business owner. The company must be at least 51% woman-owned and registered in the United States with less than $1 million in gross revenue. Grant applications close on the last day of each month.
For more information on grants for Black-owned businesses, visit The U.S. Small Business Administration.
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