Business Grants for Black Women: Do you want to learn more about business grants for black women? Despite a lack of capital, Black women remain the nation’s fastest-growing category of entrepreneurs.
Business Grant for Black Women
Some of the most brilliant ideas have come from black women. Whether it’s Maggie L. Walker, the first Black woman in the United States to establish a bank, or Rihanna, who is pushing the envelope for genuine diversity in cosmetics.
Black women understand what it takes to make an idea a reality. Black women are the fastest-growing category of entrepreneurs in America, according to studies, but one factor continues to hold them back: a lack of capital.
Only 56% of Black female entrepreneurs can get financing, leaving them without the tools they need to grow their businesses.
There is a grant out there for you, whether you are just starting out or a seasoned veteran in the business world.
In this post, you’ll find awards created specifically to help Black women succeed in their endeavors.
List of Business Grants for Black Women
It may be difficult for us to stay afloat in this fragile economy. These financial resources may be of help:
1. Amber Grant for Women
This is one of the business grant for black women that is very common.
It’s one thing to see it; another to have someone who believes in it.
The Amber Grant provides monthly recipients with $500 to assist them in realizing their dream of starting a business.
In addition, at the end of the year, one of the 12 monthly winners will receive an additional $1,000.
This award provides women with the resources they need to succeed by enlisting the help of investors and mentors.
You don’t even need money or a running business to be evaluated; all you need is an idea.
Amount: $25,000
2. The Halstead Grant
If you enjoy jewelry and want to start your own business, this is the grant for you.
As part of this initiative for women in the jewelry industry, a winner receives a $7,500 award, $1,000 in materials, and personal comments from all the judges each year.
The top five semi-finalists and finalists will each receive $250 and $500, respectively.
Amount: $7,500
3. Zions Bank Smart Women Grants
This organization provides financial help through their Smart Women Grants.
Zions Bank created this initiative as part of its commitment to providing minority women with the resources they need to turn their ideas into successful businesses.
Amount: $3,000
4. Black Women’s Blueprint Fund
This non-profit is for women who want to start businesses or organizations that address issues such as economic justice, education, criminal justice, and police violence.
They give black women funding opportunities to help them succeed in their own businesses.
Amount: Varies
5. The New Voices Fund
This $100 million campaign was launched by Richelieu Dennis, the creator of SheaMoisture haircare and skincare products.
I designed specifically it for the annual Essence Festival and Black women.
The fund’s goal is to close the gender gap among female entrepreneurs while also providing additional opportunities for minority women who want to learn more about advances in women’s business finance.
It also focuses on assisting them in overcoming some of the common challenges associated with launching a project and getting finance approval.
Amount: Varies
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6. We the Culture Grant
Meta, formerly known as Facebook, is on a mission to provide resources and funding to black and brown entrepreneurs and creatives in order for them to realize their next big idea.
We The Culture initiative recipients will have access to content financing, instructional and development tools, and product support.
The program also aims to help Black entrepreneurs establish long-term businesses through the use of Facebook and Instagram, as well as gain access to special community development activities and partner management.
Amount: Varies
7. FedEx Opportunity Knocks Small Business Grant
FedEx is giving entrepreneurs the opportunity of a lifetime to earn a $25,000 reward while failing to ensure that our packages arrive on time.
The funding goes to the small business that effectively tells its story and receives the most votes.
This fund is open to anyone, making it ideal for Black women at all stages of their business careers.
Amount: Varies
8. NASE Growth Grants
Every year, many National Association of the Self-Employed (NASE) members are eligible for $4,000 business development grants.
The only requirement for these funds is that you are an active member in good standing.
Naturally, the organization will review the application to determine the necessity and potential impact of the grant on the company.
In exchange, the organization requests that the grantee post a NASE badge on their website for a year after receiving the grant.
Amount: $4,000
9. Build Your Legacy
The Essence and PineSol Build Your Legacy grant will award $100,000 to one black female entrepreneur.
This scholarship also includes six months of business mentoring from successful entrepreneur Nicole Walters.
In addition, their website offers helpful video tutorials for any woman who owns a business.
Amount: $100,000
Being a Black, female-identified business owner is difficult, but you are not alone.
Aside from the community, networking, and support groups mentioned above, there are several other sites to investigate.
Another excellent way to get free tools and help is to visit your local SBA or SCORE office, either in person or online.
FAQs on Business Grants for Black Women
1. How Can I Get Grant for Business?
Begin your search for a grant from the federal government at Grants.gov. This government site offers the most comprehensive database of funds the government is going to give away. There are thousands of grants to apply for, with opportunities for companies from all backgrounds.
2. What is a Small Business Grant?
A grant is money that’s given to your business by the government, a company or a philanthropist. Grants are essentially free money – you don’t have to pay them back. Their aim is to give small businesses a helping hand.
3. What is the Easiest Business to Start?
The easiest business to start is a service business, especially for a beginner. A service business is any kind of business where you sell services. In other words, you sell your skill, labor or expertise — instead of products or goods.
4. Do You Have to Pay Back a Grant?
You do not have to repay the money you get from a grant. It’s essentially free money. There is less risk involved with a grant since it does not entail paybacks, interests, and collaterals. With a grant, you are able to grow your business with support from government programs.
5. Do You Have to Pay Back Government Grants?
Funding is what most small business owners are looking for when they consider a grant – which is different than a loan because it doesn’t have to be paid back. However, government grants do come with provisions that require you as the business owner to contribute.
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