9 Small Business Grants for Women and Minorities in 2021 and Beyond

This post lists 9 small business grants and resources for women and minorities running a small business in the U.S.

When I started my business, I wish I would have known all of the possibilities for small business grants for woman and minorities business owners. The extra funds could have helped me purchase equipment, inventory, or education on how to run a successful business. An extra lifeline to help a small business stay alive and thrive.

(Finally) We are starting to see an outreach from government and private organizations offering support to women and minorities with businesses. After all, small businesses enhance a community and contribute a huge driving force in the economy.

But first things first...

What is a Business Grant?

Money awarded from a government agency or private organization that does not need to be paid back. Yes, you read that right.

However, you know the saying nothing in life is ever free. This is true for submitting a small business grant proposal.

Grant submissions are highly competitive and never guaranteed for approval or feedback on why your application wasn’t selected.

The application process can be rigorous and time-consuming, but there is a pay-off my friend!

Yes, there isn’t a guaranteed financial win, but the process of completing a business grant application will help you define your business idea and shine a light on areas of where haven’t had time to develop or research.

There’s value in digging into the details of your business.

Keep reading below...

Ready to jump to the list?

What is the Business Grant Application Process?

The application process is designed to make you put some serious thought and research into your business. These organizations are not going to award you money without thoughtful answers to their questions of why you need the money and what impact it will have on your business and community.

Some grant applications require a comprehensive business plan, documents of financials, even a video to showcase your business.

Whatever the application requirements are, be sure to allow yourself plenty of time to fill out the application. You want to make sure your answers are well-thought out, while trying to make an emotional connection with the decision-makers. Think of your grant proposals like a contest or a pitch. What is the best way for your small business to stand out from the other applicants?

Ready to dive into the 9 small business grants for woman and minority businesses?

Let's do this!

9 Small Business Grants for Women and Minorities

1. The Amber Grant

The Amber Grant is dedicated to Amber Wigdahl, a young lady who didn’t have the chance to pursue her dreams of being an entrepreneur. Each month the organization grants $10,000 to a lucky female entrepreneur with a unique business idea. Read some of the amazing stories of the women who have received grants from previous months. There is a company that produces a tinted sunscreen for darker skin tones to a company that sells upcycled packaging to e-commerce retailers to help us get closer to a zero-waste economy.

When can I apply? At the beginning of each month, but don’t rush into apply just yet. Get some great grant tips from the organization's website Women’s Net.
What is the application process? Fill out an online form and answer two questions. Note, the organization gives you a big clue on how to successfully answer the questions. Speak from your heart. Also, there is a $15.00 application processing fee.
What are the potential grant benefits? $10,000 plus a chance for the year-end grant additional $25,000.
Who can apply? Any female entrepreneur or female-owned business.

2. The Urban Excellence Community Grant

This grant comes from the Venture Capital Firm Caleb Brown, which was founded by entrepreneur Dennis Howell. Howell is an advocate of supporting young urban entrepreneurs with business mentorship and seed money to help get their business off the ground. I love their mission statement of how small businesses are the key component of rebuilding blocks, neighborhoods, and communities by providing jobs and training for the future generation.

When can I apply? Applications are due on the 15th of every month.
What is the application process? You answer nine questions (you can download the questions here) and email answers to the organization email.
What are the potential grant benefits? $1000 start-up money and business consultation for one year.
Who can apply? A small business that is less than three years old and located in an Urbanized area defined by the Census Bureau.

Keep an eye out for these two grant programs for Women and Minority Business Owners!

As I write this at the end of 2020, these two programs will expire soon, so application details are no longer available. However, I wouldn't be surprised if these two organizations will continue their grant programs beyond 2020.

Both programs launched as a response to help small businesses due to the impact of the COVID-19 pandemic. So many businesses came to a screeching halt and forced to pivot into new directions.

And then there is the issue of 860,000 women dropping out of the workforce and having to figure out how to make money from home. These two funds were designed to help support women and minority business owners.

I will continue to update the status of these two amazing business grants....

3. BeyGOOD

Yes, "Bey" stands for the Beyonce who partnered with the NAACP, and together they created the BeyGOOD Black-Owned Small Business Impact Fund which grants one black-owned small business $10,000 each month until the end of 2020. The fund launched due to the rise of the Black Lives Matter movement and the devastating impact on black-owned businesses due to the Covid-19 pandemic. We know Beyonce is not only a music icon but is a major cultural and philanthropic influencer. We may see BeyGood stay 4eva.

I will continue to update this post of the possibility for the fund to turn into a long-term program or receives an extension.

Hey Business Owner! Which is better? Selling on a Marketplace or your own E-commerce Website?

4. The Red Backpack Fund

Founder of SPANX, Sara Blakely, teamed up with the Global Giving organization to provide grants for female-owned businesses. The Red Back Pack Fund launched right after the pandemic hit in the US, Sara donated $5 million to the fund, and it was distributed to 1,000 women-owned businesses. Each business was awarded $5,000 to help grow their business. The same dollar amount Sara had when she first launched her own company. The fund continues to receive outside donations and has already extended the open enrollment once. I would keep an eye on this fund and follow it online. It would not surprise me if this fund changes to an on-going program due to the inspiring and motivating stories it has created thus far. Sara Blakely is not only a successful entrepreneur but is a social media influencer for women empowerment and ownership.

Listen to a podcast interview with Sara Blakely and six other inspiring female entrepreneur stories.

I will continue to update this post of the possibility for the fund to turn into a long-term program or receives another extension.

Business Grants for Consumer Products and Creatives

5. Sephora Accelerate

If you have a beauty or hair care product that you would love to have on the shelves of Sephora, then the Sephora Accelerate Program is your dream come true!

Sephora is the leading beauty omni-retailer and believes in fostering the growth of up and coming beauty businesses by empowering the business owner with education and insights from experts in the beauty industry. Sephora’s Accelerate is a 6-month program that includes a Bootcamp, mentorship, grants, and a pitch day for a chance to have your product added to their assortment.

In addition to Sephora's commitment to investing in budding new beauty brands, they are also dedicated to fulfilling their pledge of 15% minimum shelf space for black-owned beauty and hair care products.

When can I apply? The beginning of October.
What is the application process? It starts with an online application. And will cover the three main points you need to articulate for consideration: describing your company's vision, innovation, and product details.
What are the potential grant benefits? The dollar amount of the grant is not published but the 6-month program is filled with business development education, mentorship with established beauty entrepreneurs, and the chance to pitch your product to be a part of Sephora's assortment. This spells out priceless to me!
Who can apply? Beauty product companies at an early stage of their business and are US-incorporated, with limited distribution.

6. The Halstead Grant

If you are a jewelry designer, this grant can help you take your business to a whole new level. The Halstead Grant was founded by the Halstead company's owner Hillary Halstead Scott. As a second-generation owner, she witnessed the hard work and challenges her parents faced when they were running the business. After Hillary graduated from business school, she knew the best way to support jewelry designers and jewelry business owners was to provide resources and education to scale their business. The grant awards a jewelry designer for their creative designs and who can show their full understanding of running their business.

When can I apply? Applications are due on the 1st of August
What is the application process? It could take up to 3 weeks for you to complete the application. The application process is designed to make jewelry companies invest time and thought into their business. Before you start your application, read this article with tips on how to apply for the Halstead Grant, written by a previous winner. Halstead also provides a Jewelry Business Plan Tool Kit that can be used towards the application submission.
What are the potential grant benefits? $7500 in start-up capital and $1000 in merchandise
Who can apply? Any full-time jewelry designer who has been in business for at least five years.

Hey Small Biz Owner! I hope you are selling your products on Instagram. Don't have a shop yet? Learn how to set one up in 7 simple steps.

Business Grants for All Small Businesses

7. FedEx Small Business Grant Contest

Imagine getting a very special delivery from FedEx, a package of grant money for your small business! For the past eight years, FedEx has been giving back to the small business community that supports their business every day. FedEx awards $250,000 to 12 small businesses.

When can I apply? FedEx announces the start of the open enrollment at the beginning of each year. Sign-up on Fedex.com to receive alerts
What is the application process? There is not a lot of detail on the application itself, but I did a little digging, and sounds like a video submission is required.
What are the potential grant benefits? Up to $25,000 per business.
Who can apply? Any small business.

8. Nav's Small Business Grant

Nav.com is a mobile app that provides free financial tools for small business owners. Their tools include free access to credit reports and easy navigation of business financing. Their mission: To stop the deaths of small businesses. How cool is that? Nav was founded by two entrepreneurs who wanted to make business financing easier to understand after their own challenging experience when they first started their businesses. In continuing their spirit of helping fellow business owners, Nav launched a grant contest of awarding one small business $10,000 and a runner up $5000.

When can I apply? Open enrollment starts in October and closes at the beginning of December. This contest only happens once a year.
What is the application process? Part of the application process is filling out a questionnaire online, and the second part is to post on Instagram, LinkedIn, or Facebook a video of who you are, why you deserve to win, and what the impact the money will have on your business. Must include #navssmallbusinessgrant in your post.
What are the potential grant benefits? $10,000 for the grand prize winner and $5,000 for the runner up. Plus, an opportunity to be a part of a great social media campaign!
Who can apply? Any small business owner who is a customer of Nav.com (Not a customer? Signing-up is free!)

9. NASE Growth Grant

I never knew there was an association dedicated to self-employed individuals until I researched this article. The National Association of Self-Employed Growth Grant comes with two benefits, a chance to be awarded a $4000 grant, which happens every month, and access to a variety of business and personal resources for solopreneurs. They offer business resources ranging from legal help to a service of adding your kid as an “employee” for a tax write-off (yes, this is real).

When can I apply? From the website’s FAQ, they review applications once a quarter.
What is the application process? An online form that asks you to identify the business need, details of how the grant money will be used, and how the money will impact the business.
What are the potential grant benefits? $4,000 is awarded each month.
Who can apply? Anyone who is self-employed and is a member of NASE for a minimum of 3 months. The membership is not very expensive and can be paid yearly or monthly installments.

I hope this list of business grants will get you motivated to start planning out your application process and submission. I want you to have the possibility of maintaining the growth of your business and continuing your dreams of entrepreneurship.

Have you applied to any of these grants? Share below in the comments. Plus, if you want more information on side hustles, content creation- signup for our email below.