As a woman or minority-owned small business owner, finding funding opportunities can be a challenge. In this blog post, we have gathered 11 grants, loans, and programs that can benefit your small business by using the information provided in the source link.
Let’s take a look at these opportunities (click the titles for links):
- Begin your search for federal grants on Grants.gov. This comprehensive database provides access to thousands of grant opportunities for businesses from all backgrounds.
- Employee Retention Credit (ERC): Established by the CARES Act to help businesses impacted during the COVID-19 pandemic, this refundable tax credit functions as a grant. Learn more about eligibility guidelines on the IRS website.
- National Institutes of Health (NIH) Grants: Focused on COVID-19 research, these grants are reserved for small businesses that develop and research biomedical technology. Multiple grants are available, with deadlines throughout 2023 and beyond.
- NIDILRR’s Small Business Innovation Research (SBIR) Program: Aimed at helping small businesses develop post-secondary education training materials for people with disabilities, this program awards grants to qualified applicants.
- Operation HOPE Small Business Development Program: Provides loans, technical training, and financial support services to minority-owned businesses in low-income neighborhoods.
- Minority Business Development Agency (MBDA): Helps minority-owned firms access capital by equipping them with financial and contracting resources, such as grant competitions.
- Accion: This global nonprofit organization provides microloans to underserved business owners who may not qualify for traditional bank loans or require smaller amounts of capital.
- Business Center for New Americans (BCNA): Offers loans and lines of credit to minority business owners in New York City.
- Opportunity Fund: A nonprofit organization providing loans to minority-owned and women-owned businesses in California, expanding to several other states.
- Union Bank Business Diversity Lending Program: Designed for minority and women entrepreneurs who own at least 51% of their small business, this program offers loans between $25,000 and $2 million.
- Wisconsin Women’s Business Initiative Corporation (WWBIC): Provides financing, education, and resources to women and minority entrepreneurs statewide in Wisconsin.
From government grants to innovative loan programs, there are a multitude of funding opportunities available for women- or minority-owned small businesses. Utilize the resources mentioned above and find the right financial assistance for your business today!
