Surprisingly, it’s hard to believe, but some organizations offer free money to business owners. Yes, you can get thousands of dollars to expand and grow your business. All you need to do is meet the eligibility criteria of the application.
Even there are business grants for minorities that target Black, Asian-Indian, Hispanic, Asian-Pacific, and Native American business owners. According to a recent report given by the U.S. Federal Reserve, minorities find it difficult to raise capital for their business. These grants are made to help them out. Dive right into the nitty-gritty post; we have listed top small business grants for minorities so that you can choose your best option:
MBDA Business Grants- The Minority Business Development Agency (MBDA) is a federal part of the U.S. Department of Commerce that is dedicated to helping minority-owned businesses grow. They help Hispanic Americans, African Americans, Native Americans, Asian Americans, Pacific Islanders, and Hasidic Jews. The eligibility depends on what program you like to access from the following-
- Global Women of Color Economic Empowerment
- Minority Growth Equity Funds Initiative
- American Indian Alaska Native/Native Hawaiian
- Entrepreneurship Education for Former Incarcerated Persons
You need to build a proposal to apply for a program, and MBDA will allocate funds to winning businesses. MBDA has been able to secure around $4 billion in funds in previous years. But how much you will receive depends on available funds. MBDA also runs several Business Centers, which are established to help companies owned and operated by minorities. In addition, they help minority-owned firms in many other ways.
First Nations Development Institute Grant-The First Nations Development Institute is aimed to strengthen Native American communities. They tend to improve their economic conditions through advocacy, technical assistance, training, and grants. They have a wide area, not just one grant. They help Native Americans, Alaska Natives, or Native Hawaiian. They offer business grants for minorities in
- Investing in Native Youth
- Achieving Native Financial Empowerment
- Nourishing Native Foods & Health
- Strengthening Tribal & Community Institutions
- Stewarding Native Lands
- Advancing Household & Community Asset-Building Strategies
- Find other business grants for minorities.
If you’re seeking more details about other business grants, you should start your search today. There are many business grants available for minorities in the USA. Gather more information on the official website of the USA Grant Application. This portal allows you to apply and search for funding programs. It contains information about all the grants and scholarships offered by federal agencies. You can look up various funding opportunities and apply through their help. Browse the website now to learn more.
