Grants For Female Entrepreneurs 2020 – According to the Small Business Trends Alliance and Guidant Financial, the percentage of women in business has increased by four percent. Sixteen percent of women surveyed were black business owners.
The current COVID-19 pandemic is affecting business owners across the country, but the Washington Post found that nearly 40 percent of black-owned businesses are inactive. Because businesses need funding to stay afloat, here are seven grants aimed at helping black women business owners.
Grants For Female Entrepreneurs 2020
The National Association of the Self-Employed offers grants of up to $4,000 to small business owners. You must be a member to receive a grant. Details on their website.
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Amber Grant offers a variety of opportunities throughout the year. If you receive an Amber Grant, you may be eligible for an additional $25,000. Details on the website.
The National Institutes of Health awards grants to technology-based businesses or research-based projects. Each year they accept applications three times: on January 5th, April 5th, and September 5th. Full details and submissions on their website.
The mission of the National Black MBA Association is to “help create and support wealth creation opportunities for its members.” This year the grants will be won by competition and there will be three winners. Prices range from $1,000 to $50,000. Details on the website.
Grants for Women is a website that offers lists of grants created by the Women’s Business Research Center. Grants are listed alphabetically and updated regularly. More information about grants and their website.
Small Business Grants For Women Entrepreneurs
The Halstead Grant is open to “emerging silver artists”. This grant aims to help winners start their business with $7,500. The deadline is August 1 of this year. Visit their website for details.
The Open Meadows Foundation application cycle opens on July 1, 2020 and closes on August 15. The Foundation awards grants based on projects that advance the gender, racial, and economic well-being of women and girls in their communities. Contact the foundation at firstname.lastname@example.org or visit their website for full details.
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Black women are the fastest growing group of entrepreneurs in the United States, but according to Brookings, black women make up less than 1% of all small business owners and less than 5% of business owners. How can this be? A Harvard Business Review study found that 61% of businesses started by black women are self-funded, making it difficult for them to overcome many of the financial barriers to entrepreneurship.
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To help Black women build long-lasting, successful companies, we’ve compiled a list of grants designed to support Black women in business. Browse our list of business grants for black women and start applying today.
Some of the best grants for black women who own or want to start a black business:
Presented by WomensNet, an organization supporting women’s businesses, the Amber Grants are very popular and have been awarded since 1998. Grants are awarded monthly and larger awards are awarded twice a year. Grants are also awarded in various business categories, including startups and nonprofits.
The founder of SmartSweets is offering this opportunity to young entrepreneurs that is part grant, part convention, and part contest. Several nominees will be selected to attend a private event with business leaders and entrepreneurs, and one will walk away with $25,000.
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Since its inception, CBBB has awarded $8.5 million in grants to black business owners. The organization offers 14 annual grants of $25,000, as well as mentoring and other business resources.
Who? black American small business owners (at least 51% black owners) in economically vulnerable communities; Must have 3-20 employees and be financially impacted by the COVID-19 pandemic
Presented by BlackConnect, this grant, dedicated to closing the wealth gap and addressing race-based disparities in the business environment, will be awarded to the top ranked entrepreneur in the business.
Who? US business owners 18 years of age or older; their business must be predominantly black-owned, have less than $100,000 in revenue to date, and be less than five years old.
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When: Applications will be accepted until August 31, 2023. Fees are $50 for non-members and free for Black Connect members
Designed specifically for women of color in business, these HerRise microgrants are small but mighty. They are awarded monthly by the Yva Jourdan Foundation, the non-profit arm of HerSuiteSpot. The organization also offers coaching and other resources for business owners.
This grant is only offered to black women working in a restaurant or food service business and is partially funded by Uber Eats and Eat Okra.
Who? 51% of restaurants, food trucks or other food-based businesses in the US are owned by a black woman; must also be listed on Uber Eats
Regional Cooperation Council
CCWC grants are awarded twice a year by the organization, which offers professional mentorship as well as legal advice and support to women of color.
Who? US-based businesses incorporated before January 1, 2020, with $25,000 in revenue since incorporation and a valid Employer Identification Number (EIN); Applicants must be over 18 years of age
While it’s not technically a grant, this Amazon business accelerator can make a big difference for black-owned companies that want to work as Amazon third-party sellers.
What? $500 Amazon credit and a three-year sponsored advanced digital certificate, plus up to $3,000 in ad credits and free photography services
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The National Self-Employed Association provides support and resources to all entrepreneurs, including quarterly business growth grants.
IFundWomen partners with major global brands to offer various grants to business owners throughout the year. Corporate partners include Coca-Cola, Visa, COMCAST and many more.
When: Deadlines vary. The Universal Application is available at the link above and can be submitted at any time
The Carolina Foundation has partnered with Wells Fargo to offer multi-line financing to minority-owned businesses in one of North Carolina’s six Opportunity Corridors.
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Who? North Carolina for-profit businesses in one of Charlotte’s six Opportunity Corridors that are 51% minority-owned (women, POC, LGBTQ+, people with disabilities); must have worked for at least one year on or before August 1, 2022, among other requirements
Like Amazon, Wish understands the importance of supporting black entrepreneurs on their journey to business ownership. That’s why Wish is offering 4,000 partners a total of $2 million in grants.
Who? black-owned brick-and-mortar stores in the United States with 20 or fewer employees and less than $1 million in annual revenue; winners must be 18 years of age or older and agree to become a Wish Local partner
Sponsored by JP Morgan Chase, this program is designed for Black women entrepreneurs in technology. In addition to financial support, it provides networking opportunities, marketing strategies, and more.
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Who: Black and Latina female, 18 years of age or older, with a registered technology-based business with annual revenue of at least $50,000 for at least one year.
This publishing company supports female writers as well as business owners and has funded them with over $250,000 since 2018. The Business Impact Grant (BIG) is awarded to a woman of color who is leading a business and making the world a better place.
Who? U.S.-based business owners 21 years of age or older, 100% women/women-owned companies of color, established for one year or more and with annual revenue greater than $50,000.
When: Applications are accepted until August 31, 2023. 10 finalists will be selected in September, and the winner will be announced in October
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Founded by Founders First, an organization dedicated to supporting minority business owners, the Kitty Foundation grant is awarded to mothers who strive to advance their careers, their children and themselves.
Who? US-resident business owners, CEOs or presidents who are mothers; Businesses must be parent-founded, have no more than $5 million in annual revenue, and have 2-50 employees.
Designed for women who plan to start their own business, the StartHER grant is offered by the Center for Women Entrepreneurs at Texas Woman’s University.
Who? Business owners (or business owners) whose companies have five or fewer employees and are at least 51% owned by women who are US citizens or permanent residents and other requirements.
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AT&T is the force behind the giveaway, which will award one female entrepreneur $20,000, a new cell phone and a year of service. Candidates also become part of the She’s Connected community, where they can network and build support systems for their growing businesses.
Who? Female business owners 18 years of age or older with fewer than 50 employees in the United States (other parties may nominate business owners for the award); review the official rules
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