The Ultimate Guide to Small Business Grants for Latina & Black-Owned Businesses (2024)
What is a grant, and why is it important?
A grant is a sum of money, goods, or services given by a person or organization, often a public body, charitable foundation, or business, to an individual or another entity, usually a non-profit organization, educational institution, or business, for a specific purpose. Unlike a loan, grants are not expected to be paid back.
Why should Latina & Black business owners apply to grants?
My voice rings out not just as a Latina entrepreneur, but as a champion for equal opportunity. The funding disparity faced by Black and Brown businesses is unacceptable.
We possess the talent, the drive, the ideas – yet systemic barriers keep us from accessing the resources needed to launch, scale, and reach our full potential.
This isn’t simply about closing the gap – it’s about unleashing a wave of innovation and entrepreneurial spirit that will benefit every corner of our society. Let’s rewrite the narrative, brick by equal brick, until every business, regardless of color, has the fuel to fly.
For Latina and Black entrepreneurs seeking insights into securing grant funding, this post is your compass to invaluable information. I’ll be delving into essential websites to subscribe to, highlighting Grant champions on LinkedIn, and unveiling various resources tailored specifically for Black and Brown businesses.
Newsletters for Grants
Proyecto Empower Fueling Female Founder Success: Proyecto Empower by Patricia Diaz empowers WOC entrepreneurs with essential tools and opportunities for rapid growth. 💰 Unlock $3.6M in grants/opportunities tomorrow – straight to your inbox!
Grants For Creators serves up a feast of funding opportunities for hungry US creatives: writers, journalists, podcasters, filmmakers, you name it. No more wading through grant swamps – we do the sifting, curating the juiciest grants across the spectrum to fuel your passion, amplify your voice, and unlock your artistic potential. Subscribe to DANIELLE DESIR CORBETT for weekly grant alerts and insider tips, and watch your creative feast begin!
Fearless Fund propels women-of-color-led businesses towards explosive growth, investing in ventures at pre-seed, seed, and Series A stages. Recognizing the persistent funding disparity faced by these founders, Fearless Fund bridges the gap, empowering bold ideas and fostering scalable, high-growth companies. Rooted in the experiences and values of women of color, Fearless Fund stands beside its community, fueling entrepreneurial firebrands on their journey to transformative success.
Empower your entrepreneurial journey with Hello Alice, the comprehensive platform leading you to the perfect small business grants at every stage. Let us personalize your path to success with weekly, curated grant recommendations delivered straight to your inbox, based on your unique business profile. The search for free funding no longer needs to be a daunting quest. Hello Alice simplifies the process, connecting you with the resources you need to fuel your ambition and unlock your full potential.
Driven by a vision of equitable and inclusive entrepreneurship, Start Small Think Big empowers small businesses to thrive. Through a tapestry of vital resources and a nurturing community, they bridge the gap between dreams and reality, fueling potential and propelling ventures towards sustainable success.
Paulette Piñero, the Unstoppable Latina: Musings on marketing, equity, and embracing imperfection for entrepreneurs building dream businesses.
Linked-In Champions for Grants
Patricia Diaz Strategic Partnerships & Platform | Startup & Small Business Advisor | Former Goldman Sachs Vice President | Driving Growth in Tech & Latinx Communities
Diona Richards Social Impact • Helping Entrepreneurs Fund and Grow their Big Ideas • Amplifying the Voices of Women
Websites for Grants for Black and Brown Business Owners:
Federal Resources:
- Grants.gov: Search various federal grants, including programs specifically for minorities and small businesses.
- Small Business Administration (SBA): Offers various grant programs, including the Community Navigator Pilot Program for under-served communities.
- U.S. Department of Commerce Minority Business Development Agency (MBDA): Provides grants and other resources to minority-owned businesses.
- State Grants or Foundation Grants: Supports local businesses search by your state for example: Maryland.gov
National Foundations and Organizations:
- Fifteen Percent Pledge: The Fifteen Percent Pledge is a call to action for major retailers and corporations to join us in creating sustainable and supportive ecosystems for Black-owned businesses to succeed. We work with companies to comprehensively re-evaluate their org structures, ways of working, funding, and resourcing in order to implement meaningful change and create greater equity for Black businesses.
- The Ladies Who Launch FREE grants database can help you explore funding opportunities for your U.S.-based small business. Business Grants for Women & Non-binary Entrepreneurs
- Accion Opportunity Fund: Offers microloans and business support services to low-income entrepreneurs.
- National Black MBA Association: Provides scholarships and grants to Black entrepreneurs through various programs.
- Hispanic Women’s Business Enterprise National Council (HWBENC): Offers grants and other resources to Hispanic-owned businesses.
- Asian American Business Development Center (AABDC): Provides grants and business development services to Asian American-owned businesses.
- Native American Business Development Fund (NABDF): Offers loans and grants to Native American-owned businesses.
Community and Corporate:
- Global Entrepreneurship Network The Global Entrepreneurship Network operates programs in 200 countries aimed at making it easier for anyone, anywhere to start and scale a business.
- Hello Alice: Small business ownership is a strange and special journey that calls only the bravest, most curious, and obsessively driven. In other words, entrepreneurs. Adventurers. You.
- AWS Impact Accelerator: Black Founders Combining the power of Amazon and AWS technology, we’re helping Black founders accelerate their cloud-based business for serious scaling.
- AWS Impact Accelerator: Latino Founders Combining the power of Amazon and AWS technology, we’re helping Black founders accelerate their cloud-based business for serious scaling.
- Google for Startups Black Founders Fund: Provides resources and funding to Black-owned startups.
- Google for Startups Latino Founders Fund: Provides resources and funding to Latino-owned startups.
- GrowthX Accelerator – startups The program connects tech startups with some of the biggest corporations and mentors that prepare our startups for enterprise selling.
- Facebook Small Business Grants: Offers grants to small businesses, including those owned by minorities.
- WE NYC Accelerator: Provides grants and business development services to women entrepreneurs in New York City.
- 1863 Ventures: Invests in pre-seed and seed-stage businesses led by founders of color.
- Angeles Investors ounded by David Olivencia and Adela Cepeda, alongside a group of Hispanic and Latinx angel investors and venture capitalists in Chicago, Angeles Investors is on a mission to grow the angel investing community.
- The BGV Pitch Program: flips the traditional pitch experience on its head: we coach entrepreneurs, host a live crowdfunded pitch competition, then connect them to community and professionals to support them on their journey.
- Black Ambition: Black Ambition is working towards closing the opportunity & wealth gap through entrepreneurship by investing in Black and Latinx founders & HBCU students.
- Black & Brown Founder Cofounded by Aniyia Williams and Deldelp Medina, as part of the founding members, Black & Brown Founders is a nonprofit that offers community, education, and access to resources for Black and Latinx entrepreneurs.
- The Coalition to Back Black Businesses: Connects Black businesses with funding opportunities and resources.
- FedEx Small Business Grant Contest: An annual competition offering grants to small businesses.
- Latino Flash Pitch This is the moment to see opportunities even as we are overcoming challenges and to enroll in a long term path to make things better. This is the chance for you to create a long-lasting impact, to connect with the others, and create a new future where our communities will be built on. The chance for you to incubate your business idea, or to expand your existing business.
- Latino Founder The Latino Founders Accelerator is an industry-agnostic program to support Latino Entrepreneurs in scaling their products, technology, and services
- L’ATTITUDE Latino Startup Investors | MATCH-UP An annual showcase hosted at L’ATTITUDE that matches early-stage Latino entrepreneurs with institutional capital and strategic partners.
- LBAN | Latino Business LBAN is a dynamic Silicon Valley-based nonprofit with a big mission to strengthen the U.S. economy by empowering Latino entrepreneurship across the country. We are a nonprofit 501 (c) (3) organization with a national reach.
- Meet the 2023 Amigas in Business Pitch Competition Winners Capital One joined forces with #WeAllGrow to support Latina entrepreneurs through the Amigas in Business Pitch Competition
- National Endowment for the Arts: Provides grants for artists and arts organizations.
- National Science Foundation: Offers grants for scientific research and innovation.
- Robert Wood Johnson Foundation: Supports health-related initiatives, including healthcare businesses owned by minorities.
- Gates Foundation: Funds various initiatives, including entrepreneurship and social development.
- Techqueria Is a 501(c)(3) nonprofit serving the largest global community of Latiné professionals in tech.
- Target Accelerators Scale your brand with full-spectrum support from Target’s retail accelerator programs for CPG startups.
- The Tory Burch Foundation The Tory Burch Foundation empowers women and women entrepreneurs by providing access to capital, education and digital resources.
- Check your local Chamber of Commerce, County and Community Development organizations: They often offer grants and resources for small businesses. For Example: Miami Dade County Business Resources or Florida Chamber of Commerce.
Keep applying to Grants
This journey doesn’t end here! I’ll be constantly updating this list as I discover new funding options, expanding this resource alongside your entrepreneurial spirit. My own path to success was paved with hundreds of rejections, but it only took one “yes” to transform everythined
This journey doesn’t end here! I’ll be constantly updating this list as I discover new funding options, expanding this resource alongside your entrepreneurial spirit. My own path to success was paved with hundreds of rejections, but it only took one “yes” to transform everything. So, if you face a setback, don’t let it break your stride. Instead, schedule a reminder in your calendar to revisit that grant later. As your business evolves and gains traction, so will your chances of securing funding. Remember, consistent action is the key to unlocking the grant door and turning your dreams into reality.
Make sure the Grant Funds Grow:
My secret weapon for responsible grant management? A high-yield savings account. Platforms like Marcus offer a generous 4.5% interest rate (check current rates), ensuring my grant money doesn’t just sit idle. It grows steadily, providing a safety net for unforeseen expenses and fueling future business opportunities. Don’t let your hard-earned funds stagnate – placing in an HYSA, like one from Marcus, is a game-changer for any business owner.