Get Funded: Grants For Black-Owned And Women-Owned Businesses
Access to capital for your startup or business is critical to a business owner’s stability and growth. While loans have to be paid back, grants are often no-strings-attached financial infusions awarded to companies that have a harder time getting funded. If you’re looking for cash to boost your business, here are grants for Black-owned and Black women-owned businesses.
Applying For Grants For Black-Owned Businesses
There are some ways to make applying for grants easier since they have due dates throughout the year. Primarily, you want to ensure you qualify for the grant, keep in mind the grant deadline, and have a compelling story on hand making the case for why your business deserves support.
Tailoring every application to make sure you’re providing all the required information will give you better odds of being awarded. And having other essential business information that’s easily accessible will speed up your application process.
These grants require no application fee and have upcoming dates or rolling applications.
Pitch your business in front of a crowd to win various award amounts through the Black Girl Ventures Pitch and Pull Up & Pitch events.
2. SheaMoisture
SheaMoisture has several grants for business owners. Their Brown Girl Jane provides grants worth $10,000 to $25,000 for Black and woman-owned beauty or wellness businesses that have been in operation for at least one year.
Since 2021, Amazon has assisted Black entrepreneurs selling on the platform. Sellers receive financial backing, mentorship, business guidance, and promotional assistance.
Created by Wish, a mobile shopping app, Black-owned brick-and-mortar stores can apply to receive between $500 and $2,000 for their small businesses. Stores can sell their inventory on Wish, act as neighborhood Wish pickup locations, source wholesale items, and more.
The TRANSFORM Business $1,000 microgrant was designed to support entrepreneurs in systemically marginalized groups. In addition to funds, winners get a customized, year-long business strategy and development program.
Take note of the application process and requirements for these grants for Black-owned and Black women-owned businesses. Your thriving business adds to a profitable and diverse economic landscape. Several studies pinpoint the correlation between diversity among their leadership or management teams and having higher innovation revenue than those with less diverse leadership. If you’re looking for more grants, Ladies Who Launch maintains an updated database of small business grants available for women and non-binary people.
