Many small business grants celebrate this diversity by offering grants specifically for minorities to help you and your business grow.
Minority Business Development Agency (MBDA).
The Minority Business Development Agency helps grow minority business enterprises (MBEs) through its programs, services and financing.
Award Amount: Seed grant up to $350,000
How to Apply: Visit the website for more information.
The MBDA operates business centers across the country that offer “high-quality technical assistance to minority business enterprises,” according to its website. Entrepreneurs can receive mentoring, counseling and assistance with financing and growth.
Sephora Accelerate
Sephora is a cosmetics retailer that launched the Accelerate grant program to support minority business leaders. Each fall, this program helps fund and mentor entrepreneurs in the beauty industry.
Award Amount: This is a non-monetary award that offers mentorship and the potential launch of an exclusive Sephora product
How to Apply: Visit the website for more information on eligibility and selection criteria.
While the awards for this grant are not monetary, they do provide significant financial benefits. Winners receive access to a six-month boot camp and are eligible to launch their products directly in Sephora.
National Minority Supplier Development Council (NMSDC)
The National Minority Supplier Development Council is a leading corporate membership organization that offers business services and networking opportunities to connect you with investors and build your practice.
Award amount: varies
How to Apply: Visit the website to learn more about the offers and opportunities for one-time funding and grants.
While the grant opportunities are tremendous, access to the NMSDC’s roster of mentors and advisors for small businesses is first class.
Operation Hope Small Business Empowerment Program.
Operation Hope’s Small Business Empowerment Program offers eight- and 12-week entrepreneurship training programs with funding opportunities.
Award Amount: Varies
How to Apply: Visit the website for more information and other entrepreneurship opportunities.
SBA Funding Programs
The SBA grants program offers several funding options: research and development, export, and partner awards. Grants vary from year to year and eligibility may vary with each grant offer.
Award Amount: Varies
How to Apply: Visit the website to learn more about grant offers.
The SBA also offers veterans the services of the Veterans Business Support Center to assist with operations, financing and other business needs.