10 Best Minority Business Grants to Help Fund Your Business

The Amber Grant gives more than $30,000 monthly to women-owned businesses pursuing their business aspirations. It issues three monthly grants for $10,000 across various categories and three annual grants for $25,000. You only need to submit one application to be considered for all grants.

The application process is relatively simple and requires a $15 fee. To be considered eligible for a grant, you must be a women-owned business, at least 18 years of age, and based within the U.S. or Canada.

As part of your application, you’ll need to provide an explanation of your business that outlines its plan, aspirations, and opportunities. You’ll also have an essay response to explain how the grant will help you achieve your goals. Applications are submitted on a rolling basis and are due by the last day of every month.

The National Pride Grant is provided by the Founders First CDC to support LGBTQIA+ small businesses. There are 25 grant packages available, totaling $25,000. Also included is the opportunity to connect with entrepreneurs and gain exclusive access to webinars and resources to help further support your business.

To qualify, you’ll need to identify as an LGBTQIA+ business owner, be based in the U.S., have anywhere from 2 to 100 employees, have a minimum of 1 year in business, and not have annual revenue exceeding $5 million. The application requires information regarding the operations and plans of your business, along with a 1–3 minute pitch video.

Grant funds can generally be used for any business purpose and are encouraged to be utilized in a way that promotes company growth.

The Wish Local Empowerment Program supports Black-owned businesses by providing the opportunity to receive a grant ranging from $500 to $2,000. This grant is offered to 4,000 Wish Local small business partners to promote equality and diversity for American businesses.

To apply, you must be a Black-owned business, be 18 years of age or older, have fewer than 20 employees, have a brick-and-mortar shop within the U.S., and earn less than $1 million in average annual revenue. The application requires responses as to the details of your store and why you qualify for the program. If selected as a grant recipient, you will be asked to join Wish Local.

There are no restrictions as to how grant recipients can utilize the funds. However, it’s encouraged that they be used for business purposes, team growth, or providing opportunities within your community.

The First Nations Development Institute offers a wide variety of grants that support the sustainable, economic, spiritual, and cultural well-being of Native Peoples and their communities. It is a nonprofit group that aims to assist multiple causes through various grant assistance programs.

There are multiple resources available to grantseekers, such as application and evaluation tips, fiscal sponsorship opportunities, and educational webinars.

Grant opportunities vary and have differing qualification requirements. However, there are continuous opportunities throughout the year, so it’s worth checking the group’s website often to see if there are any applicable grants available for your business.

Each year, Merchant Maverick awards grants to various small businesses to extend financial opportunities to business owners of marginalized groups who otherwise may have trouble accessing traditional financing. The grant program aims to create business opportunities for those with fewer funding options and offers varying amounts to a new group every year.

Qualification requirements will differ depending on the parameters of the yearly grant; however, they generally include being a US-based business operating for at least 6 months. The application process is relatively simple and will include the consideration of essay questions on your business plan, goals, and challenges. You’ll also need to provide information about your various social media platforms.

Grant funds have limited restrictions, as long as it’s used for business purposes. Merchant Maverick references using funds for rent, utilities, payroll, loan repayment, supplies, renovations, and advertising.

The FedEx Small Business Grants program offers 10 yearly grants to for-profit small businesses that are FedEx customers. There’s one grand prize of $50,000, and nine runner-ups receive $20,000.

Winners also receive access to

• FedEx Premier Customer Care
• a packaging consultation with FedEx Packaging Lab
• a My FedEx Rewards $300 voucher
• a digital sales consultation
• a feature on FedEx Small Business Center
• an invitation to the Small Business Strategic Insights Forum

While the grant is open to any qualifying small business, minority business owners can apply if they currently use FedEx to fulfill their shipping needs. To qualify, a business must have fewer than 99 employees, have over 6 months of time in business, be a for-profit company, and have an existing customer relationship with FedEx.

The application requires responses as to what your business offers, how grant funds would be used, and how your experience with FedEx has been. There should also be a short video explaining your experience as a small business owner. To increase your chances of consideration, you can include details demonstrating how your product or service is unique, sustainable, or environmentally-friendly, or how you give back to the community.

Comcast RISE was established in 2020 to help aid businesses impacted by COVID-19. Since its inception, it has provided $125 million in grants to over 13,500 small businesses, specifically to promote diversity, inclusion, and community investment.

The Comcast RISE Investment Fund is open yearly to 500 small businesses throughout select cities in the U.S. and provides funds, business consultation services, educational resources, and creative production assistance to grant winners. It offers $5,000 grants to qualifying small businesses with the intent of helping businesses grow and support their local communities.

While the grant isn’t exclusive to minority owners and any small business that meets the requirements can apply, it emphasizes DEI inclusion and strongly encourages minority-owned businesses to apply.

The application is simple. It requires that your business resides in one of the select cities (which changes per year) and that your business has been operating for three or more years. You’ll also need to supply reasoning as to how the grant can support your growth and business needs and, more specifically, how the funds can be used within your community to advance DEI initiatives.

The NASE grant is available to small businesses, regardless of industry, seeking funding to help their businesses grow. Grant winners can receive up to $4,000 in funding, which can be used for a variety of business needs; whether it be for product development, team growth, or other business investments.

To qualify, you’ll need to provide a business plan that demonstrates how the grant will benefit your business and future goals. You’ll also need to be a member of NASE to apply, which requires a membership that starts at $12 per month.

Applications are accepted on a rolling basis, with grant winners chosen monthly. Winners are selected based on the business need, the business plan, and how funds will help benefit the business.

The SBIR and STTR programs are federal grants to for-profit small businesses, encouraging them to partake in federal research and development with the potential for commercialization. To qualify, businesses must be US-based and have fewer than 500 employees.

Each phase has varying requirements, and SBIR and STTR awards have three phases.

1. Phase 1 is essentially the early stage of research and development and involves the evaluation of products or technology. It has a maximum grant amount of $250,000.
2. Phase 2 is applicable when candidates have the potential for commercialization of products or technology. Winners can receive up to $750,000 in funding.
3. Phase 3 doesn’t offer funding and is only when businesses are in pursuit of commercialization.

Agencies offering these programs will have varying eligibility requirements, so you’ll need to do some research and find one you qualify for. You can search for participating agencies and find opportunities by visiting SBIR’s website.

The Freed Fellowship grant is a $500 monthly grant that was designed to support underrepresented and overlooked small business owners. There are no strings attached.

All applicants receive resources to further grow their business, with the opportunity to claim two free months of free mentoring in the Freed Studio, which is a virtual community of entrepreneurs that offers mentoring and support. Winners are also eligible to win an additional grant at the end of the year for $2,500.

Any US-based for-profit micro or small business owner can qualify. However, it’s highly encouraged that women, minorities, and other overlooked groups apply.

The application requires essay responses utilizing Freed Fellowship’s 5C Framework.

• Context: Why is the market in your favor?
• Content: What’s your compelling core narrative?
• Community: Have you found or created a community?
• Chemistry: Have you found your special sauce?
• Commerce: How do you make money?

Funds received from the grant can be used for any business expense, as long as it supports your business ambitions.

A business plan is usually included with a grant application to outline your business structure and goals. This is beneficial for many business purposes, but in the case of obtaining a grant, it allows you the opportunity to demonstrate your plans, your financial status, and what you offer for products or services.

You’ll have to do some research to find grants your business is eligible for. Many have industry-specific or niche requirements, so plan accordingly. Keep in mind that there’s often lots of competition when applying, so aim to find grants that you have a high chance of getting before spending time and effort on too many applications.

Similar to applying for a small business loan, you’ll likely have to supplement your grant application with various documentation that proves the validity of your business. This could include a business license, articles of incorporation, and other miscellaneous requests of the grant’s supporting entity.

Once you’ve gathered all your materials and chosen which grants to apply for, you can begin the application process. Budget your time accordingly, and keep in mind any deadlines or specifications that are required of the grant.

Eligibility will vary per grant, but most minority small business grants are available based on race, gender, identity, or location.

Yes. As most grants are offered by various entities, it’s uncommon you’ll come across any rules prohibiting you from applying for multiple grants. However, some might limit you if you have already received a particular grant within an organization.

Criteria will differ depending on the grant application, but it’s a good rule of thumb to have incorporation documents, a business plan, etc. Be sure to provide all items specified in the requirements for the grant you are applying for.