Welcome to Breaking the Blueprint — a blog series that dives into the unique business challenges and opportunities of underrepresented business owners and entrepreneurs. Learn how they’ve grown or scaled their businesses, explored entrepreneurial ventures within their companies, or created side hustles, and how their stories can inspire and inform your own success.
Black women are the most dynamic entrepreneurs in the nation, and studies prove it.
Besides being the most educated, they own 2.7 million businesses in the U.S. and are the fastest growing demographic of entrepreneurs, according to an article by J.P. Morgan.
From beauty and fashion to tech and education, their companies have made a mark on every industry.
Despite their successes, Black women have faced many challenges as founders and CEOs, and a lack of financial support is at the top of the list. A LinkedIn article reports that 40% of Black women entrepreneurs believe having access to capital is key to growing their businesses. Yet, only 19% have received funding, causing most to self-fund their businesses.
Black women need more resources to support them through their entrepreneurship journey. Read on to learn about grants that can help you take your business to the next level.
12 Business Grants For Black Women
1. WomensNet Grants
WomensNet gives away at least $30,000 every month and around $435,000 per year to women-owned businesses in four different grant categories:
- Monthly Amber Grant - $10,000 to one recipient
- Monthly Startup Grant - $10,000 to one recipient
- Business Category Grants - $10,000 to one recipient (monthly business categories are listed here)
- Annual Amber Grant - $25,000 to one recipient who has won one of the other monthly grants.
The best part is that you only need to fill out one application to be considered for all four grants.
Deadline: The next due date is March 31st, 2024, but applications are accepted throughout the year.
2. Galaxy Grant
Galaxy of Stars, managed by the nonprofit Hidden Star, offers a $2,750 Galaxy Grant to women and minority entrepreneurs who run a business or plan to start one. If you apply and refer a friend who wins, you each receive a $2,750 grant.
Deadline: 2024 application deadline is March 31st.
3. FedEx Small Business Grant
FedEx’s Small Business Grant awards innovative small businesses the capital they need to support their businesses. There are ten recipients; one is awarded $50,000, and the remaining nine are awarded $20,000. Recipients are also eligible for various growth-supporting perks, like a $500 print credit and a $300 voucher.
The fund is open to anyone, making it great for Black women at all stages of their entrepreneurial journey. To apply, you’re required to have had a FedEx business account before September 1st, 2023.
Deadline: 2024 deadline is April 1.
4. HerRise MicroGrant
HerRise MicroGrant for small businesses offers monthly awards $1,000 to women of color entrepreneurs. The financial awards are given to those with businesses that directly impact their community and struggle to secure their own funding. Past recipients have used the grants to buy computers, marketing materials, equipment, and more.
Deadline: The application deadline is 11:59 PM on each last day of the month.
5. Corporate Counsel Women of Color Grants
Corporate Counsel Women of Color awards five $2,500 grants to women entrepreneurs with legal, for-profit businesses. To qualify, your company has to have generated over $25,000 in revenue since Jan. 2020.
Deadline: Submissions reviewed on a rolling basis, apply today to be considered for the Jan. 2025 award.
6. Fearless Strivers Grant Contest
The Fearless Fund’s Fearless Strivers Grant Contest is a collaboration with MasterCard, and it awards fearless Black women entrepreneurs who own their businesses. The 2023 grant cycle awarded four small businesses with $20,000 grants, as well as other growth-supporting tools.
Deadline: Check back for 2024 application dates here.
7. NAACP Grants
The NAACP partners with organizations like Vistaprint, The Boston Celtics, and BEYGOOD to provide funding and support for Black-owned businesses. It offers multiple grant opportunities, including:
- Keep It Local Business Fund: One-time grant of $5,000 (plus additional support opportunities) to small business owners of color.
- Certification Boost Grant: One-time grant of $5,000 to assist small, minority-owned businesses in Arizona, California, Florida, Georgia, and Texas to get critical business certifications.
- Powershift Entrepreneur Grant: Awards Black entrepreneurs and black-owned businesses with $25,000 grants. Multiple winners per year.
Deadline: Check back for 2024 application dates.
8. National Association for the Self-Employed Growth Grants
Since 2006, the NASE has awarded nearly $1,000,000 in small business grants.
Recipients can receive up to $4,000 for advertising, hiring, and other business needs. To apply, you’ll submit a plan detailing your business’s purpose and operations. Note that you need to be a NASE member to apply.
Deadline: Applications are reviewed quarterly (i.e., applications received between Jan. and Mar. are reviewed in April).
9. The Freed Fellowship
Every month, the Freed Fellowship bestows a $500 micro-grant and two months of free mentoring in its virtual community of business owners. Monthly awardees also qualify for a year-end grant of $2,500.
Deadline:Applications are accepted on a monthly basis.
10. Comcast RISE
Comcast RISE is a grant program to advance digital equity and capital for small businesses owned by underrepresented entrepreneurs that make a difference in their communities. Recipients receive $5,000 to invest in growth and sustainability, as well as access to digital tools.
Deadline: Check back for 2024 dates.
11. The San Francisco Women's Entrepreneurship Fund
San Francisco Women’s Entrepreneurship Fund (exclusive to SF businesses) offers up to $5,000 in mini-grants to women-owned small businesses to help with projects and updates that will significantly impact growth.
Please note that you must be nominated by your business technical assistance provider (TA) to apply.
Deadline: Rolling basis acceptance.
12. Kinetic Black Business Support Fund
Kinetic Business believes that small businesses are the heartbeat of a community, and it provides a $2,500 grant to Black-owned businesses within its service area (found here). Applicants can receive a $2,500 grant, free business consultation, and free internet for a year.
Deadline: Check back for deadlines for 2024.
Over To You
The above grants set the foundation for Black women founders to thrive and grow.
We must continue to invest and back their passions because when Black women win, we all win.
