25 Grants for Black-Owned Businesses - BlackOwned365

Grants for black-owned businesses are a much-needed reprieve following the harrowing economic effects of the Covid-19 pandemic. Even before the pandemic, black-owned businesses faced challenges inherent to them, challenges that widened the racial wealth gap. Grants to black-owned businesses are indispensable if this gap is to be done away with. The following is information about current grants for black-owned businesses including their core requirements and links to the grants’ page.

  1. Grants by the Coalition to Back Black Businesses

The Coalition to Back Black Businesses is giving away grants worth $5000 to each black-owned business. To be eligible for the grant, the business needs to be black-owned, employ between 3 and 20 people, be situated in a community that is economically vulnerable and have been affected financially by the Covid-19 pandemic. Applications for this grant open in fall 2022. Once open, you can express interest in receiving the grant here: https://webackblackbusinesses.com/


  1. SoGal Foundation’s Black Founder Startup Grant

The SoGal Foundation is providing several $10K and $5K grants to black women entrepreneurs. Requirements include self-identification as a black woman, possession of a legal registered business and proof of need for funding. Applications are open all year round. Click here to apply this grant: https://www.iamsogal.com/black-founder-startup-grant/


  1. The Sage Invest in Progress Grant

This is an opportunity offering black women entrepreneurs twenty-five $10,000 grants. The requirements are that the business must be owned by a black woman entrepreneur and be in its first five years of operation. Application and deadline information can be found here: https://app.helloalice.com/communities/alice/applications/the-boss-network-and-sage-s-invest-in-progress-grant?modal=true


  1. Power Forward Small Business Grant

The Power Forward Small Business Grant is offering each black-owned business a $25,000 grant for economic empowerment. The businesses must be black-owned, have 1 to 25 employees and be located in Maine, New Hampshire, Vermont, Massachusetts, Rhode Island or select areas of Connecticut. Application and deadline information can be found here: https://hialice.co/Celtics-Power-Fwd


  1. Aveeno Skin Health Startup Accelerator

This program will award one black woman entrepreneur $100,000 for owning a business that meets the hair or skin care needs of black consumers. The black-owned business must only be using natural ingredients. The deadline for application is 30th April 2022. Application can be done by following this link: https://www.essence.com/aveeno/enter/


  1. HerRise Micro-Grant

HerRise awards a $500 grant each month to a business owned by a black woman. The business must be 51% owned by a black woman and be currently registered in the U.S. The application procedure can be found here https://www.hersuitespot.com/herrise/


  1. CCWC Women of Color Entrepreneur Grant

The Corporate Council Women of Color (CCWC) is awarding five $5,000 grants to women of color entrepreneurs. Their enterprises must be legal for-profit businesses, registered in the U.S and have generated over $25,000 in revenue since January 2020. Click on https://form.jotform.com/Laurie_info/5000-grant to view other requirements and apply.


  1. National Black MBA Association Scale-Up Pitch Challenge

This is a pitch challenge for black business owners that awards $1,000 to $50,000 in prizes. The requirement is that the applicant must be a member of the National Black MBA Association. The deadline for application is 20th April 2022. You can apply here: https://nbmbaa.org/scale-up-pitch-challenge/


  1. Bridge the Gap Fund

This grant provides financial assistance to black-owned businesses affected by the Covid-19 pandemic. The requirements are that the business must be black-owned, negatively impacted by Covid-19 and launched on or before January 1st, 2020. The grant runs in 3-month cycles and can be applied for through https://docs.google.com/forms/d/e/1FAIpQLSeGxfVIOpcC8rWzuSOyYOAqYZcjV3hXoXHbvOW5s3mCoJYtOQ/viewform


  1. Fast Break for Small Businesses

This program provides grants to black-owned and diverse businesses. The grants are distributed to about 5,000 businesses and add up to $6 million. The only requirement is that the businesses should be either black-owned or diverse. Application dates and deadlines are yet to be announced but you can find out more here: https://www.legalzoom.com/fastbreakforsmallbusiness


  1. Amazon’s Black Business Accelerator Program

This program provides black entrepreneurs with $400 in advertising credits, $500 for launching costs and free imaging services for 50 products. The black entrepreneur must have an Amazon Professional Sellers Account, a certified minority-owned business registration and a physical product ready to sell. Application is open all year round and can be done via https://sell.amazon.com/programs/black-business-accelerator


  1. Backstage Capital Investments

Backstage Capital invests between $25,000 to $100,000 in businesses with underrepresented founders which include black-owned businesses. The requirement is that the funding is converted into stock that Backstage Capital holds in the business. Applications are received on a rolling basis and can be done via https://backstagecapital.com/apply-2/


  1. Comcast RISE program

This is a program that assists technology assistance, marketing campaigns and creative media to black-owned enterprises. The requirements are that the business should be for-profit and owned and operated by a black person. Application can be done via https://www.comcastrise.com/rise-apply/ and closes on June 17th, 2022.


  1. The Freed Fellowship

The Freed Fellowship provides monthly grants of $500 to black-owned businesses. The also offer a year-end grant of $2,500. Applications are always open and can be done via https://www.freedfellowship.com/grant1


  1. IFundWomen of Color Grant

IFundWomen provides black women with access to $2500 funding through crowd-funding and grants. The required is that the business should be black-owned, located in the U.S and have an active website and social media account. Application can be done through https://ifundwomen.typeform.com/to/R6o6il?typeform-source=www.axishelps.org. There is no deadline.


  1. Wish Local Micro-Grants

Black-owned businesses can benefit from $500-$2,000 grants offered by Wish Local, an online platform. To qualify, the businesses must be black-owned, have 20 or fewer employees, be a brick-and-mortar shop within the U.S and have an average annual income under $1M. Applications are received on a rolling basis at https://www.wish.com/local/empowerment


  1. New Voices

Through pitch competitions, New Voices awards $5,000-$25,000 to black women. To receive this funding, the applicant needs to be a black woman with a convincing pitch. Application procedures and deadlines can be found at https://newvoicesfoundation.org/


  1. Northwestern Mutual Black Founder Accelerator

This program offers $100,000 investment in black-owned businesses. To qualify, the business needs to be a high-growth startup founded by a black entrepreneur. Application can be done via https://www.gener8tor.com/accelerator/nmbfa#page-section-61e85e49e5b6025705a41aba. Deadline for application is April 29th, 2022.


  1. Kinetic Business Black Business Support Fund

This program offers up to $2500 in grants to black-owned businesses. For eligibility, the business must be situated in Georgia, Charlotte or Lexington. The business must also be a for-profit organization with less than 26 employees. Applications can be made via https://business.windstream.com/bbsf on a rolling basis.


  1. Black Restaurant Accelerator

This program will provide direct grant assistance to 500 black-owned enterprises from select cities. The requirements are that the enterprise must be black-owned and in one of the supported cities. Deadlines and application vary depending with the city. To find out more, go to https://nul.org/program/black-restaurant-accelerator


  1. Black Girl Ventures (BGV) Pitch Program

This program provides crowd-funding to businesses owned by black women. The amount of funding varies. The deadline for application also varies with the location of the black-owned businesses. To apply and find out more, go to https://www.blackgirlventures.org/bgvpitch


  1. Fearless Fund, Tory Burch Foundation, Cru’s Women of Color Grant Program

This program awards grants of between $10,000-$20,000 to 150 deserving black-owned businesses. The deadline is in February of each year and applications can be made via https://www.fearless.fund/tory-burch-foundation


  1. Black Enterprise Elevator Pitch Competition

In this pitch competition, black entrepreneurs have a chance to win $10,000. The requirement is that those who pitch need to have an equity stake in the black-owned business. Further entry requirements, application and deadline information can be found at https://www.blackenterprise.com/es2022/elevator-pitch/


  1. Miller Lite Tap the Future Business Plan Competition

This competition lets urban entrepreneurs compete for black-owned business grants of up to $20,000. Application can be done at http://www.mltapthefuture.com/. Applications are received all year round.


  1. Small Business Innovation Research (SBIR) Grants

This program supports black-owned businesses through fostering technological innovation and participation in government contracting. This is done through issuance of black-owned business grants among others. Applications are received on a rolling basis at https://seed.nih.gov/?redirect_from=sbir.nih.gov

 Have you started a business? Or are you currently looking for funding? Future millionares sound off in the comments!

Editors choice

Leave a comment

All comments are moderated before being published