There are many types of business grants for minorities. Award sums, qualifying criteria and selection committee objectives vary from source to source.
Wish Local Empowerment Grant
The Wish Local Empowerment Grant offers funding from $500 to $2,000 to help Black-owned US businesses grow. Applicants must be 18+ years of age and operate a brick-and-mortar store with less than 20 employees. The business must also have annual average revenues of under $1 million. If your business is selected for the program, you must join Wish Local.
The Freed Fellowship Grant
The Freed Fellowship offers monthly $500 grants to people of color and female business owners. Applicants also receive two months of free business mentoring in the Freed Studio virtual community and may win an additional $2,500 grant at the end of the year.
HerRise Microgrant
Aiming to bridge the financial gap in funding for early-stage Black female entrepreneurs, the HerRise MicroGrant provides a monthly award of $1,000 to businesses that aim to positively impact their community. To qualify, your business must be at least 51% owned by women of color, be based in the US and have revenues of less than $1 million.
National Association for the Self-Employed Growth Grants
The National Association for the Self-Employed (NASE) provides business growth grants of up to $4,000 to members. Since 2006, nearly $1,000,000 has been awarded, with grants used for marketing, advertising, hiring employees, expanding facilities and other specific business needs. All minorities may apply, but you must be a member of NASE to participate. (Membership fees may be applicable).
Merchant Maverick Opportunity Grants Program
The Merchant Maverick Opportunity Grants Program provides funding to businesses that experience racial or other barriers to traditional financing. In 2023, two awards of $10,000 each were given to businesses owned by Native Americans.
Hawaii FoundHer Program
The Hawaii FoundHer Program accelerates growth for women-founded businesses in Hawaii. The 6 months program is designed for historically overlooked and unsupported AAPI and Native Hawaiian wāhine. Benefits include a $20,000 grant, $4,000 care stipend, weekly educational workshops, national network of business mentors and advisors, and monthly retreats for place-based learning and networking opportunities.
Black Girl Ventures Pitch Program
The Black Girl Ventures Pitch Program is an entrepreneurial fund-raising model for Black and brown female business founders. Using a hybrid pitch and crowdfunding system, participants have three minutes to pitch their opportunity to an audience of community and professional investors. The three participants with the most votes win at each event. First prize is $10,000, second prize is $6,000, third prize is $2,000.
To qualify, your business must be at least 51% owned by Black or brown women, have been operating for one year or more and be generating revenues.
Feed the Soul’s Restaurant Business Development Grant
Open to food businesses that are at least 51% owned by someone who is either Black, Indigenous, Latinx, LGBTQ+, a military veteran, person with disability or a formerly incarcerated individual, the Feed the Soul’s Restaurant Business Development Grant aims to level the playing field for minority hospitality business owners. Program participants may receive 6 months of consultations and educational training services, a financial stipend, and training to help you process and maintain your business.
Founders First Job Creators Quest Grant
Founders First CDC offers a number of regional and national grant programs. Total grant awards vary from $100,000 to $25,000 shared across multiple winners. Participants must identify as one of the following to apply for these programs: Asian, Black or Latinx women, LGBTQ+, military veterans.
The American Dream Awards
Small businesses can apply to win $1,000 in funding from the American Dream Awards. Grants are offered in several categories including job creation, family-owned businesses and startups.
#SupportSmallBiz Grant
Presented by Small Business Majority and Support Latino Business, the SupportSmallBiz Grant provides up to four winners with $2,500 in business funding. To apply you must have at least one Latino/x founder with a minimum 50% ownership. The business must also have been operating for more than one year and be a US registered for-profit business.
Coalition to Back Black Businesses Enhancement Grant
Having financially supported more than 1400 small businesses since the program began, the Coalition to Back Black Businesses provides several grants of $25,000 to Black-owned businesses per year. (There were 14 winners in 2023). The goal of the Enhancement Grant is to solidify the resilience and long-term success of the award-winning businesses and to help strengthen the communities that those businesses serve.