Top Small Business Grants or Free Money for Black Women Entrepreneurs in the US

As the business world continues to grow by the year, more women, especially Blacks women. Based on statistics from 2018-19, 30% of the total U.S. businesses are owned by women of which 14% of the percentage are businesses owned by black women, generating $52.6 billion in revenues annually. More than ever, there has been a great need to support women in business by giving them easy access to free capital. In the United States, there are many grants programs designed to support small and medium enterprises. Some of these grants are dedicated solely to women entrepreneurs because of the difficulties that often arise in getting bank loans or venture capital.

Finding grants that are specific to Black women only may be quite challenging. To achieve some results in that line, you can search for funds that are specific to minorities and women before proceeding from there.

Federal Grant Programs

The Federal government is not left out in giving grants to small and medium-sized enterprises. A good place to start your search for available federal government grants is by searching their website at Grants.gov. Many of these grants are not giving directly to individuals, rather they are given to nonprofit organizations, and other organizations and businesses that partner with the government as contractors within a particular community. Funding these organizations will directly or indirectly benefit the communities that they are located.

On a more specific note, Black women entrepreneurs can apply for federal grants through the government’s Minority Business Development Agency. This agency has local offices across the United States and can help business owners find available local grant sources.

State and Local Grants

The easiest way to locate government minority business grants is by starting with a state or local government’s grant office. These offices have the lists of all government grant opportunities: federal, state, and local government. Small business owners can find their state’s office by checking via a link on the U.S Economic Development Administration website. Although, government grants are mostly given to businesses or organizations that will help further the development and economic growth of the specific communities they do business in.

To reach out to individuals, in this case, minorities and women, the state and local governments have a list of companies and organizations that empower women in business. The state and local governments offer small business grants through these organizations.

Minority Business Development Agency

The Minority Business Development Agency or MBDA is an agency under the U.S. Department of Commerce that is targeted at assisting minorities and women in business who wish to grow their businesses. You can find grants and access links to other state agencies that assist women-owned businesses for funding opportunities by looking on the MBDA website.

National Association for the Self-Employed Growth Grants

This grant program is opened to all business owners. The grant’s past beneficiaries received as much as $4,000 each and they used their growth grants to purchase new computers, create marketing materials, and hire part-time employees.

FedEx Small Business Grant Contest

FedEx Small Business Grant Contest is a grants program that is opened to all, including Black women. It allows all its participants to apply for grants up to $50,000. The company organizes this contest yearly and awards one winner with $50,000, another winner with $30,000, and eight other winners with $15,000 each. In addition to the grants, the winners are also given money that can be used only on FedEx Office print and business services.

Amber Grant Program

The Amber Grant program was created to help women in business meet their entrepreneurial targets. A grant program is organized every month and the winner gets to go home with $500. At the end of the year, all twelve winners of the current year will contest for the grand grant prize, the winner of the 12 will get an additional $1,000. This program also provides participants the opportunity of meeting with angel investors and/or mentors. All that is required to apply is to give a brief introduction to your business or your business idea.

New Voices Fund

The New Voices Fund is a fund that is specifically targeted at women of color. The fund provides expert advice to women who wish to either start a new business or grow a current business, perhaps, set up a community-based enterprise. The fund has over $100 million dedicated to the cause of financing small businesses owned by women of color.

Business Owners’ Idea Café Small Business Grant

This grant awards a selected small business with a grant of $1,000 as well as advertising opportunities with the grant program. Anyone can apply for this grant as long as they own an existing business that has been around for up to six months, at least. No entry fees are required. A business plan is also not necessary to apply for this grant.

Girlboss Foundation Grant

The Girlboss Foundation specifically targets its grants to women. These grants are awarded on a biannual basis and each beneficiary gets project funding of $15,000. In addition, the beneficiaries also get exposure through the Girlboss platform and other community and regional press.