If you ever want to learn survival skills, just have a conversation with 99.9% of Black women on the planet. We constantly beat all odds and the proof is the fact that, in the middle of a global pandemic, Black women made up more than 36% of businesses that were opened cumulatively — a 50% spike from 2019.
Because of the inspiring moves Black women are making in entrepreneurship, and to maintain the growth in this sector, many companies are taking it upon themselves to offer specific grants for Black women CEOs and business owners — a demographic that has long been ignored by long-standing grants and traditional support programs.
Here is a list of 7 grants you can apply for today. (I am not an affiliate of these programs in anyway)
Before you cut and run at the first name on this list, it’s important you understand that while the process to apply for federal funds may seem daunting, they have put together an amazing library of grant writing tools, tips, and tricks to help increase your chances of getting funded. They have even added YouTube videos recently to help you navigate the process and encourage your participation in the process. Pay careful attention to their formatting guidelines. The Federal government is one of the most strict when it comes to the grant submission guidelines.
2. SoGal Foundation Black Founder Start Up Grant
Part of this global brand’s mission of closing the racial equality gap in entrepreneurship and funding includes a grant specifically created for Black Women founders. Grant amounts are either $5,000 or $10,000 which includes access to an online knowledge base, mentors, and more funding awards to scale their growing business while assisting in the entire application process.
3. Tory Burch Foundation Fellowship Program Grants
This for-profit grant is for any industry run by 51% majority women, who have been in business for at least 1-5 years and generate at least $75,000 in annual revenue. This amount is preferred by not required. Through Goldman Sachs, they plan to release 10,000 small micro grants in the amount of $5,000 to cover education and business operations.
4. iFund Women
This is definitely the go to site for women in business. There are tons of grants on this site for women — especially women of color. $25,000 grants are awarded to those with exceptional business plans while providing 100 days of resources to Black-owned businesses. Check out the American Express iFund Women of Color 100 for 100 and Visa’s She’s Got Next Grant Program for businesses owned by Black women .
This particular grant program was created by Black Facebook staff to assist in how Black creators scale their ambitious endeavors, grow the communities they live in, and build a sustainable business across a wide range of technologies. Grants are specifically for arts and cultural projects by Black creatives and offer up to $60,000 in access funding.
6. Minority Business Development Academy Grant Program
This is another site with various grants throughout the year. First you need to create an account on their website and download the applications from grants.gov. There are teleconferences available for each grant opportunity that you are encouraged to attend in order to help you understand the requirements and to help improve your chances of funding.
This grant was created in honor of Amber Wigdahl — a 19 year old Black teen who passed away before she could realize her own dreams of starting a business. Amber knew that one of the biggest challenges that we as Black women in business face is access to funding. With an application fee of just $15, grants are awarded at $10,000 or more per month with a stand-out award of $25,000 being given to one business doing great things in the community. This grant has been around since 1998 and shows no signs of slowing anytime soon.
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