Business grants provide free money, but the emotional currency required for the application process can often be incredibly expensive, especially for black women.
For example, aid deployed by the government to help small businesses affected by the pandemic is now available, black business owners receive significantly less subsidies than white business owners, and payroll protection funds Only 29% of black applicants were assigned to 60% of whites.
Traditionally, the federal government primarily provides grants to nonprofits (nonprofits and educational institutions), so those outside of these ranges may be frustrated by the lack of funding options. there is.
Fortunately, more and more organizations are recognizing the divide and developing programs to give black women access to the capital and resources they need to start and scale their businesses. I’ve rounded them up for.
new voice grant
Richelieu Dennis launched a $100 million fund to fill the cash gap for women entrepreneurs. Grantees are entitled to access to mobile business incubators, training and mentorship for pitch finalists and other members of the New Voices community, brokered grants, online learning and skills development opportunities, social media, newsletters, Receive ongoing communication outreach through other streams.
FedEx Small Business Grant
The annual competition awards three grand prize winners each year with $50,000 in grants and $4,000 in FedEx printing and business services. Other winners will also receive grants and access to resources.
Amber Grant Foundation Award
The organization provides grants of up to $10,000 each month to help women entrepreneurs start their businesses. Recipients of these grants are also candidates for a $25,000 annual grant.
SoGal Black Founder Startup Grant
These $10,000 and $5,000 grants are for black female entrepreneurs looking to launch their “next billion dollar business.”
HerRise Micro Grant
The program provides $500 monthly grants to BIPOC women-owned small businesses.