Helpful Federal Grants For Minority Women

Federal Grants For Minority Women

If you are a minority woman, you are statistically more likely to encounter financial difficulties. Minority women are disadvantaged in terms of education, work opportunities and income level.

This is especially true for minority women. Because women are generally disadvantaged, minority women struggle. The government has recognized these problems and has introduced specific state grants for minority women.

These grants for minority women are very beneficial as they do not require the applicant to repay the grant. If you are accepted for the grant money, you don’t have to worry about finding the finances to repay the money.

There are many different grants that are meant for minority women. For this reason, it is important that you do your research and find out about the different grants you are eligible for.

Federal Grants For Minority Women

Once you have applied for and received your free grants for minority women, you can use the money for your personal use. But you must spend the money according to the terms of your grant application.

For example, if you receive a college scholarship to help minority students pay for college tuition, you must use the money to pay for your college tuition, college textbooks, student housing, or other college expenses. If you are caught spending the money on something else, you will be asked to repay the grant.

Finding and applying for these funds is as easy as searching the grants database, which we’ll get to shortly, and then submitting your application to apply for grants for minority women.

Once you submit your application, it will be reviewed by a government grants officer. When approved, you will either receive a check in the mail or the funds can be directly deposited into your account in some cases. The money is available, but you have to ask for it.

Opportunities For Grants For Minority Women

1. Merchant Maverick Opportunity Grants

In 2021, Merchant Maverick awarded four $10,000 Minority Small Business Grants to outstanding Black women entrepreneurs through our Merchant Maverick Opportunity Grants program.

In 2023, Merchant Maverick will donate a total of $100,000 to Asian Americans and Pacific Islanders. Specifically, this year’s Opportunity Grants of $10,000 each will go to ten different AAPI-owned restaurants.

If you are a US citizen who is also a member of the AAPI community and own a restaurant, food cart, kiosk, grocery store, bakery, cafe, or other catering business, we encourage you to apply as soon as possible. the application window opens.

On January 3, 2023. We will only be accepting 5,000 applications in total, so submit yours as soon as possible!

2. The National Association for Self-Employed Growth Grants

The National Association of the Self-Employed (NASE) is a nonprofit trade association that provides grants for minority women and educational resources to small businesses and entrepreneurs. Its Grow Grant Program allows small business owners to apply for a grant for a particular small business need.

These grants for minority women are worth up to $4,000 each. Although you won’t hit the money lode of funding with NASE, it’s a great resource for minority business owners with a specific and defined funding need.

You will need to join NASE to apply for a grants for minority women, and you will need to explain in detail how you will use the funds and how this funding will strengthen your business operations. The annual subscription costs $120/year, or you can opt for a monthly subscription starting at $11.95/month.

3. FedEx Small Business Grant Contest

The FedEx Small Business Grant Competition is a national competition held annually to award grants in the form of cash and prizes (such as credits for FedEx services) to small business owners and entrepreneurs. It’s not specifically for minority business owners, but many past winners and finalists have indeed been minority business owners.

The amount awarded to competition winners and the number of grants for minority women recipients vary from year to year. The above details are current to the 2021 contest, and details for the 2023 contest will be revealed when the next round is announced early in the new year.

In 2022, the top prize was a $50,000 business grant, plus $7,500 in FedEx Office printing services. Smaller prices are also available. For the 2022 competition, there were a total of 12 FedEx Small Business Grant winners.

4. National Black MBA Association Scaling Pitch Challenge

Since 2017, the National Black MBA Association (NBMBAA) has recognized scalable startups and awarded grants to Black-owned businesses as part of its Scale-Up Pitch Challenge. This competition gives startups a chance to connect with investors and venture capitalists. Additionally, winners can receive prizes ranging from $1,000 to $50,000 for their pitches.

Interested candidates can submit their pitch and a Powerpoint presentation. The top ten finalists will be invited to present their ideas to a team of experts.

The top three finalists will then compete at the NBANB Annual Conference and Career Fair for a chance to win a cash prize of $50,000, with additional 2nd place prizes ($10,000) and 3rd place ($7,500), as well as an audience award ($1,000). ).

5. Sephora Accelerate

Beauty retailer Sephora is giving back to minorities. The company has already signed the Fifteen Percent Pledge by dedicating at least 15% of storage space to black-owned businesses.

Sephora goes one step further to help budding entrepreneurs with grants for minority women through the Sephora Accelerate program.

If selected for the program, winners will complete a six-month program that includes two all-expenses-paid trips to program events, mentorship, and a hands-on boot camp.

Winners will also receive a monetary grant and be eligible for additional funding. Sephora’s goal is to ensure that all products created by the winners are launched in Sephora stores at the end of the program.

6) Asian Women Giving Circle Grants

Over the past 16 years, the Asian Women Giving Circle has raised and distributed over $1 million in funding to businesses owned by Asian American women in New York City. This also includes theatre, dance and film artists.

Recipients of these grants have contributed to progressive social and political change through documentaries, choreography, visual arts, street festivals and workshops.

For the 2021 grants for minority women competition, the AWGC awarded nine grants, ranging in amount from $5,000 to $12,500.

The number of recipients and submission dates vary each year; information on the 2023 grant application is expected to be released in January 2023.

7. Coalition To Back Black Business Fund

The coronavirus has hit small businesses hard in 2020, and the effects are expected to be felt for years, especially in economically vulnerable areas.

That’s why a number of organizations, including American Express, Shopify, Stanley Black & Decker, and the US Chamber of Commerce Foundation, have come together to form the Coalition to Back Black Businesses.

This initiative is set to run through 2024 and provides black business owners affected by the coronavirus with free grants for minority women.

The grants are valued at $5,000 and are distributed on a rolling basis to hundreds of eligible small businesses each fall, with a select few business owners receiving $25,000 improvement grants the following summer.

In the previous round of funding, a total of 25 recipients of $25,000 were selected, but the number of grants for minority women may fluctuate slightly each year depending on available funding.

Through the Coalition’s partnership with Shopify, black business owners can also get 120 days free on Shopify to start and grow their business online (a separate offer from the grant competition).

8. SoGal Foundation Black Founder Startup Grant

The SoGal Foundation has partnered with companies such as Winky Lux and Bluemercury to launch the Black Founder Startup Grant. This program is designed to provide grants for black women and non-binary black entrepreneurs with grants to start or grow their business.

This program offers grants for minority women of $5,000 and $10,000 to certain participants. Additionally, winners also receive lifetime access to the SoGal Foundation and SoGal Ventures teams. Nominations are accepted on a rolling basis and prizes are awarded at the end of each month.

9. Rebuild Block Grants

According to its mission statement, Rebuild the Block “connects Black business owners within our communities with reputable resources to infiltrate generational wealth and capital into the Black community.” One of the ways Rebuild the Block is helping is with its Small Business Relief Fund.

Through this program, black-owned small businesses impacted by coronavirus or looting/civil unrest can receive monetary grants for minority women. Up to 15 winners are selected each 3 month cycle.

The organization does not specify the monetary value of its grants, but it has a fundraising goal of $1 million to help Black-owned businesses. Freelancers and creative entrepreneurs can also apply for this program.

10. First Nations Development Institute Grants

First Nations was founded in 1980 and launched its national grantmaking program in 1993. Through mid-2021, the nonprofit organization has awarded more than $46 million in grants for minority women to projects and Native American organizations across the United States.

One First Nations grant opportunity that is currently open to Native American business owners is the First Nations Native Farmer and Rancher Apprenticeship.

Through this grant, a total of 30 beginning Native American farmers and ranchers will receive up to $7,500 over a 30-month period, along with one-on-one technical assistance to build their business capacity and strengthen their land management strategies.

If you have an Indigenous-owned business but are not eligible for the BFR grant, check the First Nations website often as they offer new grants for minority women opportunities throughout the year.

Small Business Grants For Minority Women

Verizon Small Business Digital Ready

StartupNation has partnered with Verizon through its Verizon Small Business Digital Ready Program, a free resource offering networking, technology tools, professional development and grants for minority women. Complete two coaching courses or events to qualify for a $10,000 grant.

The Eileen Fisher Grant Program

As of 2020, the sole focus of the Eileen Fisher Grant Program is Supporting Women in Environmental Justice, a grants for minority women program that provides support to women taking action for environmental justice.

As of 2021, the Women in Environmental Justice Support Grant awarded $200,000 annually in amounts ranging from $10,000 to $40,000. This year, the grants for minority women committee will accept applications from April 1-30, 2020.

The Amber Grant for Women

WomensNet awards Amber Grant to one winner with $10,000 each month of the year, and one of those 12 monthly winners will receive an additional $25,000 by the end of the year. The grant has been rewarding women with entrepreneurial dreams since its launch in 1998.

Minority Business Development Agency

If you are a minority-owned business owner, be sure to check the MBDA regularly for grants for minority women opportunities. They also provide a number of other educational resources for minority entrepreneurs.

NASE Growth Grant

The National Association of the Self-Employed is offering a $4,000 Business Development Grant, which aims to help aspiring entrepreneurs take their business to the next level.

To be eligible for this grant, you must be a NASE member and be able to identify a particular small business need for which you will use the funding. So far, NASE has awarded $1,000,000 in grants for minority women .

College Grants For Minority Women?

The College Grants for Minority Women provides financial assistance to women who wish to return to school but cannot afford the financial risk.

The government believes that the financial pressures a woman might be under; however, they are also aware that the success of these minority women is also crucial.

When we talk about college scholarships for minority women, it doesn’t matter whether you have a job or you have a huge income, because many government grants for minority women programs provide minority women with the money they need. to achieve their goals. in life.

How Does College Grants for Minority Women Works?

Once you have applied for and obtained your college scholarships for minority women, you can use the money for your personal use. However, you must spend the money according to the terms of the grants for minority women application.

For example, when you receive the university scholarship and grant to help students pay for their education costs, you must use the money to pay for tuition, student housing, university textbooks and other university expenses.

When you are caught spending the money for another purpose, you will definitely be asked to repay the grants for minority women . Also, the application process can be overwhelming for such programs, which is why the grant kit is an almost indispensable part of obtaining college grants for minority women.

You will have access to the vast database of currently funded programs to apply for, while having all the resources you need to apply and get that money to go back to college, get vocational training.

Other Grants For Minority Women

Looking for additional resources? Check out these options – from SCORE’s Mentoring Service to other sources of funding for your small business.

SCORE

One organization that can point you in the right direction in your quest for business financing is SCORE. It is an SBA partner and provides mentoring services to small business owners and entrepreneurs from more than 300 chapters across the country. SCORE also offers online webinars and business courses.

Venture Capital Funding for Minority-Owned Businesses

Venture capital funding is not a grants for minority women per se, as venture capitalists who invest capital in your business (this capital is also called “seed capital” or “seed funding”) receive ownership of your business in exchange for their investment.

However, venture capital funding can be a viable source of capital for some companies, especially tech startups.

There is also a growing list of venture capital groups that specifically invest in minority-owned businesses. And while venture capitalists still give most of their money to white men, there are far more minority venture capital funding opportunities than grants for minorities.

SBA 8(a) Business Certification

While there are a limited number of federal minority grants for business needs, it reserves a certain portion of federal contracts for disadvantaged businesses, including minority-owned businesses.

If your business is eligible for federal contracts – for example, you have a construction company or manufacture goods that government agencies buy – then it’s a good idea to get an 8(a) certification for disadvantaged small businesses, because this status can help you obtain contracts. .

An 8(a) small business is any business whose owner(s) are socially and economically disadvantaged. This includes any minority-owned small business whose owner is also economically disadvantaged; see specific criteria on the Small Business Administration (SBA) 8(a) Business Development Program page.

Final Thoughts

To make sure you don’t miss the application windows for Minority Small Business Grants in 2023 and beyond, it’s a good idea to sign up for the granting body’s mailing list and follow their accounts. social media on Instagram and Twitter.

This way, you can stay on top of business grants for minority women submission dates and be informed of any changes to the grant program.

• Apply Today For Grants For Minority Women.