Last Updated on June 1, 2022 by Anne-Sophie Reinhardt
Business grants that are designed specifically for black women can help you secure funding for your business and get the ball rolling. But to maximize your benefits, you need to know how to access these grants successfully.
A great place to start is understanding the grant eligibility criteria and the documents required from you to apply. This is crucial information to show potential investors and grant-issuing agencies why you are a great candidate for business funding.
Black women are the fastest-growing segment of entrepreneurs, comprising 50% of all women-owned businesses in the U.S. But unfortunately, they don’t enjoy the same capital and resources as other business owners. This makes it difficult to find grants for black women that are specific for them.
The great news is that we have done the digging for you so that you can access your funding opportunities in one place.
- 1 The 30 Best Business Grants for African-American Women.
- 1.0.1 1. Amber Grant for Women
- 1.0.2 2. The Halstead Grant
- 1.0.3 3. National Association of Black Accountants (NABA)
- 1.0.4 4. National Association for the Self-Employed Growth Grants (NASE)
- 1.0.5 5. The New Voices Foundation
- 1.0.6 6. FedEx Small Business Grant Contest
- 1.0.7 7. Enterprising Women of Color (EWOC)
- 1.0.8 8. United Negro College Fund (UNCF)
- 1.0.9 9. National Black Nurses Association (NBNA)
- 1.0.10 10. Graduate Fellowships for STEM Diversity (GFSD)
- 1.0.11 11. Julianne Malveaux Scholarship
- 1.0.12 12. Gates Millennium Scholars Program (GMSP)
- 1.0.13 13. American Association of University Women (AAUW)
- 1.0.14 14. Congressional Black Caucus Spouses
- 1.0.15 15. YoungArts Grants & Awards
- 1.0.16 16. National Nuclear Security Administration (NNSA)
- 1.0.17 17. The Alpha Kappa Alpha Educational Advancement Foundation (AKAEAF)
- 1.0.18 18. Cartier Women’s Initiative
- 1.0.19 19. The National Council of Negro Women’s Grant (NCNW)
- 1.0.20 20. Black Women’s Blueprint Fund (BWB)
- 1.0.21 21. The National Congress of Black Women (NCBW)
- 1.0.22 22. The SF Women Entrepreneurship Fund
- 1.0.23 23. iFundWomen (IFW)
- 1.0.24 24. Verizon Small Business Recovery Fund
- 1.0.25 25. Lowe’s Small Business Relief Grant
- 1.0.26 26. SBA Restaurant Revitalization Fund
- 1.0.27 27. The Red Backpack Fund
- 1.0.28 28. Female Founders Fund
- 1.0.29 29. Black Girl Ventures (BGV)
- 1.0.30 30. The Society of Women Engineers (SWE)
- 2 Conclusion
The 30 Best Business Grants for African-American Women.
The Amber Grant aims to help minority women kick-start the business of their dreams. It is a government initiative, where every month, a lucky winner receives $500. At the end of the year, one of the previous monthly winners will receive an additional $1000.
For the application, speak from the heart, show your passion and business skills. No form of capital is required from you.
If you are an emerging jewelry artist, then the Halstead Grant was designed especially for you. Every year a winner of the grant will receive $7500 and $1000 in supplies.
The grant offers many other benefits, including $250 for the top ten placements and $500 for the top five placements.
NABA is a non-profit organization that provides leadership, technical training, networking, and also job opportunities for black accounting and finance professionals.
In fact, hey have provided over $11 million in student scholarships!
NABA provides up to 70 scholarships a year, with prize money ranging from $1000 to $10000.
If you’re looking to finance a small business, the NASE grant funds business development up to $4000. Besides, it will which can be renewed every year.
NASE grants are targeted at entrepreneurs to help them gain financial freedom. So, ou can use the grant for marketing, hiring employees, and any other specific business needs.
The New Voice Foundation is a funding platform for women of color that takes place every year at EssenceFest, CES, and other popular national and regional events.
The Foundation empowers women of color by offering them coaching and mentoring to aid in their business development.
FedEx runs an annual contest where you enter by sharing your small business story and could stand a chance to win $25000. The winner is based on the public’s votes.
It’s a great platform for funding a start-up business, but the contest is also open to entrepreneurs with more experience.
This year alone FedEx awarded 12 small businesses a total of more than $250000!
The Minority Business Development Agency (MBDA) created the EWOC. In short, this program is a response to the emerging minority women entrepreneur population as income generators for households, communities, and the nation.
MBDA aims to help every woman reach their economic potential by offering new business owners grants to pursue their business goals.
UNCF has stood the test of time. It is also recognized for its mission in helping black women and minorities with business funding and other opportunities.
They award 10 000 students scholarships that are worth more than $100 million every year!
These scholarships are easily accessible online, and the website also offers links to other grant opportunities for black women.
If you would like to pursue a career in nursing, the NBNA offers a variety of scholarships, grants, and fellowships to black women. Especially to those want to get into any of the nursing fields.
This program is black-owned and operated and also offers job opportunities for black nurses.
Previously known as the National Physical Science Consortium, GFSD is a partnership between government agencies and laboratories, industry, and higher education.
The fellowships and grants are open to black women who are interested in pursuing a doctoral degree in the physical sciences.
So, successful applicants receive an expense allowance of $20000 over the duration of their grant.
If you are interested in pursuing a degree in journalism, economics, or any other related field, this is the scholarship.
In short, he Julianne Malveaux Scholarship aims to bridge the educational gap in the black community and is available to black American women.
Applicants are required to be enrolled in an accredited college or university.
GMSP goals are to provide academic opportunities for black female students and other minority groups. The organisation funds their degrees so that they are able to pursue their education.
The program offers graduate degree funding for a wide range of fields:
- computer science
- library science
- public health
- or science.
AAUW offers various grants aimed at minority students and black women looking to advance or change their careers.
They offer funding for degrees in the following fields: education, health, and medical sciences, or social sciences.
So, funding ranges from $2000 to $35000, depending on the grant you apply for.
This program works with donor sponsors to offer black high school and college students training and educational opportunities. In short, they offer a wide range of grants for full-time students that can easily apply for.
The platform aims to encourage African Americans to contribute and help more financially.
YoungArts supports and empowers black women artists in pursuing visual, performing, and literary art without any limitations.
Award winners receive a lifetime of support. These supports include funding, mentorship, professional advancement, and job opportunities.
Prizes range depending on the grant and award but can go up to $50000.
NNSA offers grants to black women and other minority groups who want to apply for the HBCU STEM Fellowship program. Eligibilities for a fellowship and spending allowance. :
- Firstly, graduates who successfully complete their programs at any historically black college or university
- And secondly, wish to pursue a Master’s qualification in science, technology, mathematics, or engineering
The AKAEAF promotes lifelong learning for black women by offering educational and business grants, fellowships, scholarships, and community assistance awards.
The foundation provides a variety of opportunities and financial freedom to black women who would like to pursue their education and career but cannot afford to.
The Cartier Women’s Initiative program aims to empower female entrepreneurs. In short, the program provide them with funding opportunities for their businesses and other projects.
The program also offers valuable training for women who are planning on starting a business, non-profit organization, and other ventures.
The business grants for black women can range from $30000 to $100000.
NCNW aims to empower, lead and advocate for black female entrepreneurs. So, NCNW provides them with funding to kickstart their businesses.
The program also offers educational grants with a special focus on science, technology, engineering, and mathematics. They offer a membership program for new members who want to mentor others within the organization.
In short, BWB is a non-profit organization for black women who are interested in taking a stand against:
- Criminal and economic justice
- Police violence
- And education.
The fund provides financing for black women entrepreneurs to help them grow. So, it will take their businesses to the next level.
NCBW is a non-profit organization that serves as a platform to empower black women. The empowerment is through educational, economic, political, and cultural development opportunities.
The organization offers training, grants and mentorship for black women in business. So, their goals are to assist them in preparing for positions of power and leadership in government, non-profit and private sectors.
In short, the SF Women Entrepreneurship Fundis a platform designed to help black women in business achieve their dreams. The fund provides grants of up to $5000 to small business owned by black women in San Francisco.
So, the grant aims to help these women with upgrades and projects that will increase their business growth. Besides, eligible projects include marketing, new equipment, window displays, etc.
23. iFundWomen (IFW)
IFW is an incredible platform for women entrepreneurs of any race and ethnicity seeking funding.
Their grants are debt-free and are specifically for women who require financial capital.
IFW also offers valuable resources, tools, and mentorship for women who are looking to start their own businesses.
Verizon Small Business Recovery Fund has offered $7.5 million to help small businesses. Especially to those in historically underserved communities, that have been affected by the pandemic. In fact, the fund has already provided grants of $10,000 to 777 small businesses. More than half of these small businesses are women-owned.
Lowe’s Small Business Relief Grant has provided $52.6 million in grants. In which with 67% of these small businesses being women-owned. So, the grants are easily accessible to registered business owners that require funding in growing their businesses. The fund also serves to provide expertise and guidance to help small business owners cope and stay afloat during the pandemic.
So, if you own a restaurant, food truck, or any other food-related services, you can apply for this SBA grant.
The application process is simple. In short, you will need to provide information about your business and how it has been affected by the pandemic. This grant is only open to women, veterans, economically and socially disadvantaged individuals.
However, the grant is only available for a limited time period. So, we would advise you to get started on your application right away.
The Red Backpack fund aims to benefit women-owned businesses. So, the fund help to fund their immediate needs and support the long-term recovery of those affected by the pandemic.
The fund will be awarding 1000 grants worth $5000 each to female entrepreneurs in the U.S.
But applications for this grant closes in September.
Female Founders Fund is a leading source of institutional capital for female entrepreneurs. The fund has raised over $3 billion in enterprise value.
This is a huge funding opportunity for black and minority female entrepreneurs who require capital to transform their dreams into reality. The fund is also a great source for women technology founders.
BGV is a platform for black women founders to help grow their businesses. The platform provides financial and social capital to black female entrepreneurs. In short, the goal is that they are able to achieve their business goals.
The platform also offers a range of perks for black women in business, including mentorship, community resources, and business tools.
SWE is the world’s largest advocate for change for women in technology and engineering. So, the program consists of female engineers who have come together to provide a variety of grants and scholarship opportunities for women and other minority groups.
In short, this program is great for women who wish to pursue a career in engineering, engineering technology, and computer science.
Grants vary and can go up to $8000 depending on your chosen field of study.
So, we hope you enjoyed our list of the 30 best business grants for black women and that it helps you make the right decision.
Always remember to have the correct documents on hand and check through the eligibility criteria when applying for grants.
Please note that grants are time-sensitive. Make sure you meet the application deadlines.