Women and racial minorities have faced many barriers in the business world through the years.
And many still face inequities today. However, there are several ongoing and one-time grant programs that aim to support these entrepreneurs throughout their journeys.
Here are several opportunities that may benefit today’s women and minority entrepreneurs.
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The Amber Grant
The Amber Grant is an ongoing program that supports women-owned businesses through grant funding. WomensNet administers the program, which provides at least $30,000 per month, along with annual funding programs. To apply, women entrepreneurs simply submit their basic information online for a chance at all the organization’s programs. Grant recipients are announced on the 23 of each month.
Hello Alice Grants
Hello Alice is a funding resource for small business that runs a variety of grant programs with corporate partners. Various opportunities run each season, each with its own rules and eligibility criteria. However, many of them focus specifically on women, minorities, or other underserved groups. The company also has an ongoing partnership with the NAACP and other community organizations to support Black- and minority-owned businesses.
IFundWomen Universal Grant Application Database
IFundWomen is a charitable organization that supports businesses owned by women and people of color. The organization partners with several businesses and nonprofits throughout the year for various programs. In addition to their specific programs, the organization offers a universal grant application. This database stores your information so you can quickly and easily submit applications to all programs that are relevant to your business. You can even get alerts when new opportunities are released.
Fast Break for Small Business
LegalZoom partners with the NBA, WNBA, and NBA G League to offer the Fast Break for Small Business grant program. The initiative provides $3 million in grants and other support services to eligible businesses each year, with a specific focus on minority and underrepresented entrepreneurs. Each business can apply for grants of up to $10,000, plus business formation assistance from LegalZoom. The 2022 funding round is closed, but the next round is slated for the 2022-23 NBA season.
Verizon Small Business Recovery Grants
Verizon is working with National ACE to offer the Verizon Small Business Digital Ready Grants through LISC. National ACE is an organization that supports AAPI-owned businesses through grants and other support resources. Eligible businesses have until November 30 to apply for this program. You must take two qualifying courses through National ACE to qualify. The organization also periodically offers other grant programs for AAPI-owned businesses.
Ureeka PowerUp Grants
Ureeka’s PowerUp Program provides grants to LatinX-owned small businesses across California, Texas and New York. Eligible businesses can apply for grants of $5,000, along with coaching support and other resources. The last round of funding recently closed. But check the website or sign up for updates to learn about future opportunities.
Cartier Women’s Initiative Award
Cartier’s Women’s Initiative Award program is an annual program that supports women entrepreneurs. Launched in 2006, the program provides monetary awards to women-owned and women-run businesses around the world, with amounts up to $100,000. In 2023, the company is adding more regional awards in Francophone Sub-Saharan Africa and Oceania, along with a Diversity, Equity, and Inclusion Award to promote entrepreneurship in underserved communities. The latter will be open to people of all genders.
Tory Burch Fellows Program
The Tory Burch Foundation offers a fellowship program to support early-stage startups founded by women. In addition to the $5,000 grant awarded to fellows, the program includes mentorship and access to various educational resources. The 2023 program is currently accepting applications until November 3; the next round officially begins in summer 2023.
Ladies Who Launch Grant Program
Ladies Who Launch supports women and non-binary business owners with grants and educational resources. Participants get $10,000 grants, WBENC certification, access to a community of other entrepreneurs, and a six-month educational program. The next round is set to open applications in January 2023.
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