Business grants for Black women are funding opportunities that promote racial and gender equity in business and other areas. They support education, entrepreneurship, arts, research and other fields.

Getting a business grant often involves identifying the right program, meeting eligibility requirements and submitting a compelling application.

What Are Business Grants for Black Women?

Business grants for Black women are financial resources specifically designated to support Black women in business and other areas like education, research and art. Government departments, corporations, foundations and other organizations offer these funds.

Grants, as opposed to loans, don’t have to be repaid, making them a great funding option if you can qualify. These grants can serve as a lifeline, allowing Black women to launch and expand businesses and otherwise impact their communities.

How Do Business Grants for Black Women Work?

Grants for Black women can involve a lengthy application and selection process. First, you must identify a grant that fits the needs or goals of your business or organization. Some grants are reserved for entrepreneurial endeavors, while others are specific to education or creative projects.

The recipient selection process usually involves a review board or committee that evaluates each application based on its merits and alignment with the grant’s objectives. This often includes factors like the feasibility of the proposed business or project, the potential impact on the community and the venture’s sustainability beyond the grant period.

Upon selection, the organization disburses the grant amount to the recipients, sometimes in installments tied to achieving specific milestones or goals. Unlike loans, grants don’t need to be repaid, providing a crucial boost without creating a financial burden.

Business Grants for Black Women

There are a wide range of business grants for Black women for you to consider for your business or organization.

Black Girl Ventures Pitch Program

Through Black Girl Ventures, the BGV Pitch Program aims to foster growth and innovation among Black and Brown woman-identifying founders. Unlike traditional pitch programs, this initiative utilizes an innovative, crowd-funded model.

During the program, participants have three minutes to pitch their business ideas to an audience of potential investors and three minutes to answer questions. The first-place winner gets $10,000, second place receives $6,000 and the third-place business wins $2,000.

To be eligible for this program, you must identify as a woman and own a revenue-generating company that’s been in business for at least one year. The business must be in good standing and be at least 51% owned by Black or Brown women founders. To apply, complete an online application form through the Black Girl Ventures website.

HerRise MicroGrant

HerSuiteSpot and The Yva Jourdan Foundation have partnered to provide financial assistance to women of color with the HerRise MicroGrant. One $1,000 grant is awarded monthly to businesses that aim to positively impact their communities but struggle to get funding. The grant aims to bridge the financial gap often faced by Black women in the early stages of entrepreneurship.

To qualify for the HerRise MicroGrant, your business must be 51% owned by women of color, be registered in the U.S. and have less than $1 million in gross revenue. To apply, go to the HerRise website and indicate whether you’re an entrepreneur, military entrepreneur or nonprofit founder.

Corporate Counsel Women of Color Grant Program

The Corporate Counsel Women of Color (CCWC) Grant Program gives a $5,000 grant to five individual applicants each year. The CCWC is a nonprofit organization with more than 4,700 women of color attorneys who aim to foster diversity and inclusion in business and law.

The CCWC accepts applications on a rolling basis, with grants awarded twice a year. To qualify, you must run a legal, for-profit business operating in the U.S. Your business must also have been established as of January 1, 2020, with more than $25,000 in revenue generated since that time.

The organization doesn’t ask for information regarding race and gender in the application process, and the CCWC website indicates the grant is available to all.

NAACP Powershift Entrepreneur Grant

The annual NAACP Powershift Entrepreneur Grant, launched in collaboration with Medium Rare and The Shark Group, is awarded to celebrate Black Entrepreneurs Day. The grant program aims to empower Black entrepreneurs and businesses by providing a $25,000 grant to selected businesses.

Winners can also access mentorship and essential resources to advance their future endeavors. Rising and established Black entrepreneurs can apply for the Powershift Entrepreneur Grant online.

Coalition to Back Black Businesses Enhancement Grant

The Coalition to Back Black Businesses awards $25,000 grants to several businesses annually. Grant funds are intended to enhance the resilience and long-term success of these small businesses while positively impacting the communities they serve. The organization also offers mentorships and other resources to help businesses grow and thrive.

Partnering with companies like American Express, Cummins and Optimum, the Coalition to Back Black Businesses grant program has awarded grants to more than 1,400 small businesses. Visit the Coalition’s website to view current application deadlines and requirements.

TL Effect

ThirdLove’s TL Effect grant program supports women-identifying entrepreneurs in creating and scaling their businesses. The program awards one $20,000 grant each year in addition to a mentoring program and access to dedicated workspace and other resources. Winners also get exposure to the brand’s consumer base to help increase visibility and sales.

To apply, entrepreneurs must identify as women of color with an early-stage, consumer-based startup that is at least 51% women-owned. Grants are only available to U.S.-based businesses that have not received any VC funds.

Amber Grant

The Amber Grant Foundation offers multiple women’s business grants yearly, totaling $450,000 in available funds. The Monthly Amber Grant is a $10,000 grant awarded to one of five finalists each month, with the other finalists receiving $1,000. By applying for the monthly grant, you may also qualify for that month’s $10,000 Business Category Grant reserved for under-represented business categories.

Each Monthly Amber Grant and Business Category Grant winner also qualifies for a year-end grant of $25,000. Business owners still in the startup phase may also qualify for the quarterly $10,000 Startup Grant. Applicants must have had less than $10,000 in sales to be eligible. Complete a single application online and pay the $15 application fee to be considered for all of these grants.

How To Get a Business Grant for Black Women

Securing grants involves careful planning, thorough research and detailed preparation. These are the steps you’ll typically take to win a grant:

1. Identify your needs and goals. Whether you want to start a business, grow an existing company, conduct research or undertake a creative project, having a clear vision of what you wish to achieve with the grant money is crucial. This clarity will guide you through the next stages of identifying appropriate grants and crafting a compelling application.
2. Research available grants. Once you have clarified your goals, look for grants that align with your goals. Take note of each grant’s objectives, application requirements and deadlines to determine which grants are a good fit. This might involve online searches, discussions with people who have successfully obtained grants or consultations with professionals in the field.
3. Prepare your application. Depending on the program, the application process may involve submitting an application form, writing a grant proposal, gathering supporting documentation and creating a budget plan. This is your opportunity to tell your story, express your needs and goals, and explain how the grant will help you achieve them. Make sure your application clearly aligns with the grant’s objectives.
4. Submit your application. Submit your application materials well before the deadline to avoid last-minute issues. Before doing so, check the preferred submission method, as some grant providers require online submission, while others prefer a physical copy.
5. Await a decision. The waiting period can be nerve-wracking, but grant decisions can take time. Unless the application instructs otherwise, you can use this time to follow up with the grant provider to confirm your application was received and is under consideration.

Alternatives to Grants

While grants can be a significant funding source for Black women, they are not the only resources available. These alternatives can also provide financial support for business startups and other entrepreneurial ventures.

• Special purpose credit programs. Some foundations or corporations offer low-interest loans, lines of credit or credit cards specifically designed for Black women.
• Small business loan. A small business loan can be a suitable alternative for businesses that will qualify for more traditional forms of financing. Likewise, the best personal loans can be an effective way to finance the operation and growth of sole proprietorships.
• Business line of credit. A business line of credit lets you access funds on demand up to a predetermined amount. This payment structure can provide much-needed flexibility if your business has unpredictable cash flow.
• Business credit card. Like personal credit cards, business credit cards can provide a revolving line of credit that allows you to make purchases or access cash for your business as needed. They can also help establish or build business credit with responsible use and timely payments.
• Crowdfunding. Crowdfunding involves reaching out to a large group of people, often through online platforms, and requesting small contributions towards your project goal. This method has become increasingly popular for creative projects, business ventures and charitable causes.