Happy Black History Month! Last year, we shared grants available for Black business owners. Likewise, we are returning to this topic in 2022 with a list of existing, and new, grants. This list includes up-to-date application deadlines. In addition, it lists eligibility requirements for Black entrepreneurs.
- Comcast RISE
- The 2022 FedEx Small Business Grant Contest
- SoGal Foundation Black Founder Startup Grant
- Power Forward Small Business Grant
- Coalition to Back Black Businesses Fund
- National Association for the Self-Employed Growth Grants
- Small Business Grant Hubs (Grants.gov, AfricanAmericanGrants.org, IFundWomen, NAACP Grants, U.S. Small Business Administration [SBA])
In addition, we share hubs for finding more small business grants.
Comcast RISE is a multi-year commitment to small businesses. These businesses are owned by people of color or women. It is led by the cornerstones of representation, investment, strength, and empowerment.
Comcast RISE aims to create sustainable impact. It gives meaningful support to the small businesses shaping our communities. Qualifying businesses can receive marketing consultations, media placements, and commercial creative production services. These services are provided by Effectv and Comcast Business.
Learn more by applying here. Applications open January 16, 2022. Applications close on June 17, 2022.
The 2022 FedEx Small Business Grant Contest
The FedEx Small Business Grant Contest is celebrating its 10th anniversary in 2022. Entering gives Black entrepreneurs the opportunity to win two prizes. There is the grand prize of $50,000 (for 3 winners) or first place with $20,000 (for 7 winners). As such, funds may be put towards small businesses. Eligibility requirements include the following. Firstly, you must have a FedEx account. Secondly, include a short company profile. Moreover, add a copy of your company logo and a two-minute elevator pitch video.
Highlight what sets your business apart! Learn more by visiting the FedEx Small Business Grant Contest website. Applications open February 10, 2022. Winners will be announced on May 4, 2022.
SoGal Foundation Black Founder Startup Grant
The Black Founder Startup Grant is back from SoGal Foundation. This provides Black women entrepreneurs and Black nonbinary entrepreneurs with cash grants. Grants range between $5k to $10k.
Firstly, qualifying businesses are legally registered. In short, they are a registered entity. These businesses plan to seek investor financing. They have a scalable, high-impact solution or idea that can become the next billion-dollar business.
Learn more by applying here. Applications are rolling. As such, SoGal will only reach out to those selected to receive grants.
Power Forward Small Business Grant
The Boston Celtics Shamrock Foundation and Vistaprint are teaming up with the NAACP with the Power Forward Small Business Grant. This awards transformative grants of $25,000.
Firstly, qualified applicants must be Black-owned small businesses with 1 to 25 employees. Businesses must be based and operating in Massachusetts, Maine, New Hampshire, Rhode Island, Vermont, or select areas of Connecticut. Secondly, applicants must demonstrate the impact of their business on the greater community. Moreover, they must show how they will use the $25,000 grant award.
Learn more by applying here.
Coalition to Back Black Businesses Fund
Amid the ongoing COVID-19 pandemic, several organizations work alongside the National Black Chamber of Commerce and The National Business League. Their aim is to provide short-term financial relief for Black-owned small businesses. Some of these organizations include American Express, Shopify, ADP, S&P Global Foundation, Dow, and more. This is the Coalition to Back Black Businesses Fund.
Recipients of this grant receive $5,000. In addition, they will receive access to a mentorship program and online resources. After that, promising grantees may receive competitive $25,000 enhancement grants.
Applications will open in Fall 2022. Find out if your small business is eligible for a grant here.
National Association for the Self-Employed Growth Grants
Black entrepreneurs that are self-employed may apply for a grant through the National Association for the Self-Employed (NASE). Eligible recipients may receive up to $4,000 for their small business.
Eligibility requires being a member of the NASE community. Firstly, you must also meet all grant requirements. Grant applications are reviewed on a quarterly basis. Learn more by becoming a NASE member.
Small Business Grant Hubs
This search engine is among one of the most trustworthy for finding grants. Visit Grants.gov to learn more about grant eligibility and policies. Search for grants using the site’s search engine. Then, find out how you may apply for a grant and track your application status.
AfricanAmericanGrants.org shares grants Black entrepreneurs may be eligible for. This platform walks small business owners through the grant assessment process.
Firstly, schedule a grant consultation. In addition, list your business in the Black-owned business directory. For example, you may receive assistance with grant writing. Then, learn about documents necessary to apply for grants.
IFundWomen is a funding marketplace. It is open to women entrepreneurs of all backgrounds. As such, it’s important to note two key aspects about using this platform.
- Many grants posted on IFundWomen are run by the organization. As such, you must become a member to apply for these grants.
- Currently, there are only a few grant application openings. Check back to see which grants are open for submissions!
The NAACP believes in the power of Black Entrepreneurship. Likewise, they are a proud partner with many organizations providing grants to Black-owned businesses. Check back to see which grants are open for submissions!
U.S. Small Business Administration (SBA)
Moreover, Black entrepreneurs may find resources through the U.S. Small Business Administration.
Government grants are available through the SBA. Likewise, the SBA provides funding programs for small business owners. Some of these programs include loans, investment capital, disaster assistance, and surety bonds. In short, find even more SBA opportunities in your area by visiting the SBA’s website.
In conclusion, register your business as an incorporated entity. Reach out to MyCorporation by visiting us at mycorporation.com or call 877-692-6772 for assistance.