Funding for Sistahs In Business : Yearly Grants you Should Know About!
As an entrepreneur, securing business funding can be one of the biggest stressors one mightface. As a #SistahinBusiness, funding is an even greater challenge. Here are 9 Grants to apply for to help grow your business.
The Amber Grant awards more than $10,000 monthly to women-led business proposals that they deem worthy and $25,000 to one standout company. Visit here for more information.
SoGal Foundation is a global platform that states that its mission is to “close the diversity gap in entrepreneurship and venture capital.” Part of their mission involves awarding black women a grant to make it possible to see their dreams of starting a business become a reality. SoGal partners with Twilio, Winky Lux, twelveNYC, and Bluemercury to decide on awardees of their $10,000 and $5,000 grants.
iFundWomen has a long list of grant opportunities dedicated to female empowerment. Their website lists a variety of small business grants from other organizations across the web.
These grants include:
Visa She’s Next Grant Program for Black Women-Owned Businesses.This grant program awarded $10,000 grants to sixty different small business owners.
American Express • IFundWomen of Color 100 for 100 Programis another funding opportunity especially made for Black women. This program awards $25,000 grants to those who propose intelligent business plans. Further, they provide one hundred days of resources to one hundred Black businesses.
Every year the National Black MBA Association (NBMBAA) holds a Scale-Up Pitch Challenge to provide a funding opportunity for their members.
Their yearly awards include:
1st place award of $50,000
2nd place award of $10,000
3rd place award of $7,500
People’s choice award of $1,000
Learn more about eligibility requirements you must meet to apply for this grant money here.
The National Association of the Self-Employed (NASE) offers $4,000 business development grants to many of its members each year. The only eligibility requirement for these grants is to be a member in good standing. The association will review the application to determine the need and the potential impact the grant will have on the business. In return, the association requests that the recipient place an NASE badge on their website for one year after they receive the grant. Visit here for more details.
Since the grants offered by the Minority Business Development Agency (MBDA) vary, it is best if you visit their website periodically for current business grant competitions. To apply for a grant from the MBDA, you must first register your business. Then you need to download the application from the Grants.gov website. The MBDA advises that you attend the pre-application teleconference of each grant before you submit your application. Doing so will help you understand the grant requirements better and improve your chances of success.
The Build Your Legacy grant by Essence and PineSol offers the opportunity to have $100,000 awarded to one black woman entrepreneur. This grant also comes with six months of business mentorship with successful businesswoman Nicole Walters. Additionally, their website offers helpful video lessons for any woman who owns a business.
FedEx is a big promoter for small businesses. Among the many grants that they sponsor with other companies and organizations, they have their own grant contest with big awards.
They award the 1st place winner of their grant contest $50,000 for their small business and $7,500 in FedEx printing services.
2nd place winner gets $30,000 plus $5,000 in FedEx printing services
3rd place winner gets $15,000 with $1,000 in FedEx printing services
Every year, the Federal Government awards millions of dollars through different grant programs. Many small business owners miss out on government grants because the process can seem daunting and intimidating. The government has now provided a ton of tips on grant writing and mentorship in their online learning center.
Funding might be a challenge, but it's not impossible. Tell us how you're securing the "free" bags to help you m grow your business in the comments below and share this with your fellow #SistahsinBusiness, because "When my Sistah Wins, We All Win!"®️