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Minority small-business grants offer funding you don’t have to pay back. Below, we've included the best small-business grants for minority business owners. We’ve also rounded up other resources where entrepreneurs of color can get free coaching and additional support.
Although business grants can give you a leg up, competition tends to be stiff and funding amounts are usually relatively small. You may want to consider alternative financing options as well.
How much do you need?
We’ll start with a brief questionnaire to better understand the unique needs of your business.
Once we uncover your personalized matches, our team will consult you on the process moving forward.
Private small-business grants for minorities
1. Wish Local Empowerment Program
Black business owners can apply for $500 - $2,000 grants through the Wish Local Empowerment grant program. To be eligible, you must be at least 18 years old, have 20 or fewer employees, generate an annual average revenue of less than $1 million and own a brick-and-mortar location in the United States. Applications are accepted on a rolling basis.
2. HerRise Microgrant
Now in its ninth year, the Yva Jourdan Foundation and HerSuite Spot offer monthly $1,000 HerRise microgrants to women of color entrepreneurs. To be eligible, your business must be at least 51% owned by a woman of color and must be a U.S., for-profit business making less than $1 million in annual revenue. Applications are due on the last day of each month.
3. The Freed Fellowship Grant
The Freed Fellowship offers monthly $500 microgrants to people of color or women business owners. Applications are accepted on a rolling basis and grant recipients may also win an additional $2,500 grant at the end of the year. Applicants also receive two months of free business mentorship.
4. The Retail Readiness Entrepreneurship Training Program
Watson Institute supports historically underrepresented entrepreneurs through training programs, mentorship, stipends and more. The Retail Readiness Entrepreneurship Training Program offers a 16-week leadership development program to 25 entrepreneurs in the retail industry. Participants in the program will also receive a $1,000 stipend to cover certification fees and other expenses related to the expansion of their retail businesses.
Priority applications will be accepted until Jan. 26, 2025, after which applications will be accepted on a rolling basis until all the spots are filled.
5. Santander Bank Cultivate Small Business Grant
The Cultivate Small Business grant from Santander Bank funds minority-, women- and immigrant-owned businesses in the food industry. Grants range from $2,500 to $13,000. In addition to funding, selected business owners will enroll in a 12-week virtual education program, with a food-focused business curriculum.
To be eligible, your business must have been in operation for at least one year and have generated between $25,000 and $1 million in revenue in the last calendar year.
The spring cohort runs from Mar. 27 - June 12, 2025 and is open to entrepreneurs in Boston, Rhode Island and New York City. Applications are currently open, and will close Jan. 30, 2025.
The fall cohort, which is open to businesses in Philadelphia, Dallas and Miami, runs from September through November, and will begin accepting applications in March.
6. Feed the Soul's Restaurant Business Development Grant
This program is open to food businesses that are at least 51% owned by someone who belongs to one of the following categories: Black, Indigenous, Latinx, LGBTQ+, military veterans, persons with disabilities or formerly incarcerated individuals. In addition to a financial grant, Restaurant Business Development Program participants receive six months of consulting services and educational training. Applications are open from Feb. 1 - April 15, 2025.
7. National Association for the Self-Employed Growth Grants
This nonprofit trade association provides educational resources and grants for small businesses and entrepreneurs. To apply for a grant of up to $4,000, you’ll need to become an active member of the National Association for the Self-Employed, provide a detailed explanation of how you’ll use the funds, show how the grant will support your business growth and provide supporting documentation. Applications are accepted on a rolling basis and a new winner is awarded every month.
8. National Black Business Pitch
The National Black Business Pitch is an annual competition for Black business owners. Finalists are selected to pitch their businesses in front of a virtual audience, and three winners receive prizes of up to $10,000. Applications open in February and will be accepted until June 9, 2025. The pitch competition will take place on Aug. 20, 2025.
9. CO-100
Formerly the America's Top Small Business Awards, the CO-100 is run by the U.S. Chamber of Commerce. This grant is open to all small business owners who are U.S. residents and run a for-profit business that has been in operation for at least one year. One winner receives a $25,000 grant. Ten additional businesses also receive $2,000 grants. Applications for the 2025 cycle open in the spring.
10. The Black Ambition Prize
To be eligible for the Black Ambition Prize, your business must have at least one founding team member who identifies as Black or Hispanic/Latinx. The grand prize winner is awarded $1 million, and 15 additional teams receive between $15,000 and $250,000. Winners also receive coaching and marketing opportunities, and workshops on pitching and leadership, among others. Information on how to apply for this year’s program will be announced during the first quarter of 2025.
11. MUSE Accelerator
Minority-owned beauty brands are eligible to apply for this accelerator program hosted by Ulta Beauty. In addition to the educational programming and workshops, selected businesses will receive $50,000 in grant funding. Application information for this year’s program will be released in early June 2025.
12. Fifteen Percent Pledge Achievement Award
Black-owned e-commerce businesses with minimum annual revenues of at least $100,000 may be able to apply for this annual grant award. For the current cycle, one winner will receive $200,000 in funding, and second- and third-place winners will receive $35,000 and $15,000, respectively. To be eligible, your business must be a member of the Fifteen Percent Pledge Business Equity Community (it's free to join). Applications are now closed, and the winners will be announced on Feb. 1, 2025.
13. Galaxy Grants
Hidden Star, a 501(c)(3) nonprofit that supports women, people of color and low-income entrepreneurs, offers Galaxy Grants. Grants of up to $2,750 are awarded to people of color and women business owners. Information about the 2025 cycle is not available yet.
14. Transform Business Grant
Open to business owners from systemically oppressed backgrounds, including minority business owners, LGBTQ+ individuals, individuals with disabilities and formerly incarcerated individuals, the Transform Business Grant awards a $1,000 micro-grant. Information about the 2025 cycle has not been announced yet; however, in 2024 the program accepted applications in March and September, for reference.
15. NAACP Powershift Entrepreneur Grant
Started in 2021, the NAACP Powershift Entrepreneur Grant is open to Black-owned small businesses. Selected winners will receive a $25,000 grant, along with mentorship and free resources. Applications are currently closed.
16. Breakthrough Program by DigitalUndivided
Sponsored by J.P. Morgan Chase and run by DigitalUndivided, the Breakthrough Program offers regional grants to female small-business owners who are Black or Latina. Recipients receive a $5,000 grant, a business mentor and sessions focused on startup funding, marketing strategies and customer analytics. Information about the 2025 program has not been released yet.
17. National Black MBA Association Scale-Up Pitch Challenge
Three businesses win cash prizes from the National Black MBA Association Scale-Up Pitch Challenge each year, with the overall winner taking home a $50,000 grant prize. Second place wins a $10,000 grant and third place receives $7,500. To apply, your business must have a Black founder and at least one member of your pitch team has to be a National Black MBA Association member. Details for the 2025 application cycle have not been released yet.
18. Support Latino Business Impact Fund Grant
Presented by Small Business Majority and Support Latino Business, the Support Latino Business Impact Fund is open to businesses that are at least 50% Latino-owned and have been in operation for one year. Information on the 2025 grants is not available yet; however, the 2024 Impact Fund awarded four businesses $2,500 each.
19. Famous Amos Ingredients for Success Entrepreneurs Initiative
The Famous Amos Ingredients for Success Entrepreneurs Initiative is a partnership between Ferrero North America and the U.S. Black Chambers. The program awards a $50,000 grant, as well as resources and mentorship services to Black-owned businesses. To be eligible, your business must be at least 90% Black-owned and have been in operation for no more than five years. Details for the 2025 cycle have not yet been released.
20. Creciendo con TikTok
Powered by the Hispanic Heritage Foundation and TikTok, and launched in 2021, the Creciendo con TikTok grant program awards $5,000 grants to 40 Latinx small-business owners in the U.S. Applications are currently closed.
21. Siete Juntos Fund
The Siete Juntos Fund awards grants to Latino-owned bakeries, eateries and food trucks with annual revenue between $50,000 and $2 million. Information for the 2025 grants has not yet been announced.
22. Black Kitchen Initiative
Launched in 2021, this program run by the Southern Restaurant for Racial Justice, LEE Initiative and Heinz offers grants ranging from $15,000 to $25,000. To be eligible, you must run a food business that is at least 50% Black owned. Information about the 2025 application cycle has not been announced yet.
23. BGV Pitch Competition
Held by Black Girl Ventures, this pitch competition is open to underrepresented female business owners. Details for the 2025 competition have not been announced yet, but in 2024 the first-place winner received a $15,000 grant, second place received $10,000 and third place won $5,000.
24. AAPIStrong Restaurant Fund
Now in its fourth year, the AAPIStrong Restaurant Fund is presented by the National Asian/Pacific Islander American Chamber of Commerce & Entrepreneurship (ACE) and funded by GrubHub Community Fund. Grants between $5,000 and $25,000 are available for AAPI-owned restaurants. Information about the 2025 cycle has not been announced yet.
25. Faire Small Business Grant
New independent retailers may be interested in the Faire Small Business Grant. The program is offered by Faire, an online, wholesale marketplace. To be eligible, your businesses must have been launched in 2023 or 2024. Winners will receive $5,000 in store credit to buy Faire inventory to sell in your store. You can check the Faire website for upcoming information about the 2025 grant.
26. Tory Burch Foundation Fellows Program
This annual program awards $5,000 grants and access to 0% interest Kiva loans to 50 women entrepreneurs. The winners participate in a yearlong program that includes coaching and workshops. The fellows are selected in spring 2025 and the program kicks off in the summer. Applications for the next cohort are not open yet.
» MORE: Business grants for women
27. Hawaii FoundHer Program
Native Hawaiian, Asian and Pacific Islander women business owners are eligible for the Hawaii FoundHer accelerator program, a six-month program for businesses with three years or less in operation. Information about the 2025 program is not available yet, but for reference, applications for the last program were open from Aug. 1 - Sept. 31. Participants received a $20,000 grant and a $4,000 stipend to put toward family care.
28. Cécred x BeyGOOD Salon Business Grant
The Cécred x BeyGOOD Fund is a collaborative grant program between Beyoncé Knowles-Carter’s public charity foundation, BeyGOOD, and her haircare company, Cécred. The program, which is designed to promote professional stylists, funds salon business grants and cosmetology school scholarships around the country.
The Salon Business Grant awards five rounds of funding throughout the year. In each round, one recipient in each of the five target markets — Atlanta, Chicago, Houston, Los Angeles and New Jersey — will receive $10,000, for a total of 25 recipients per year. Applications are currently closed.
» MORE: Small-business grants in Texas
29. Power Forward Small Business Grant
Funded by VistaPrint and the Boston Celtics Shamrock Foundation, and in partnership with the NAACP, the Power Forward Small Business Grant offers $25,000 grants to Black-owned businesses in New England. Information for the 2025 cycle has not yet been announced.
30. Merchant Maverick Opportunity Grants Program
The Merchant Maverick Opportunity Grants Program offers funding opportunities to small business owners. The most recent round awarded $2,000 grants to five small businesses run by teens and kids. Details for the next cycle have not yet been released.
31. Juntos Crecemos
Backed by PepsiCo, the Greenhouse Accelerator Juntos Crecemos is a program for Hispanic-owned businesses. In 2024, six food and beverage businesses were selected to participate in a five-month accelerator program and receive a $20,000 grant. One company was awarded an additional $100,000 at the end of the program. Future program dates have not yet been announced.
32. Beyond Open Grant
Charlotte, N.C.-based small business owners who identify as minorities, women, veterans, LGBTQ+ individuals or individuals with disabilities are eligible to apply for Beyond Open grants. Grant amounts are between $10,000 and $150,000. Information for the 2025 application cycle has not been announced yet.
33. EBay Up and Running Grant
Minority business owners who sell on eBay may be interested in the annual eBay Up & Running program. For the 2024 cycle, 50 small-business owners were awarded $10,000 grants from eBay. To be eligible, you must have an active eBay seller account. Details for the 2025 cycle have not been released yet.
34. Jobber Grant
If your business is in the home services industry, you may be eligible for a $10,000 grant from Jobber. Winners for the 2024 cycle were announced in August, and details for the 2025 cycle have not been announced yet.
35. Comcast RISE Investment Fund
The Comcast RISE Investment Fund is open to entrepreneurs in specific target cities each funding cycle. In each participating city, 100 business owners receive grants of $5,000 each. Applicants must have 25 or fewer employees and at least three years in business. Although this grant program was originally intended for people of color and women, it has since been expanded to all small business owners. Information for the 2025 program has not yet been announced, but as a reference, small businesses in Atlanta, GA; Houston, TX; Jacksonville, FL; Richmond, Virginia and Southern Colorado were eligible to apply for the 2024 program.
» MORE: Best business grants in Colorado
36. FedEx Small Business Grant Contest
This annual competition is not limited to minority small business owners. Any for-profit small business with a shipping need is eligible to enter, provided it has been operating for at least six months and has fewer than 99 employees when the annual contest starts. One grand-prize winner will receive $50,000, and nine additional winners will each receive $20,000 grants. Details for the FedEx Small Business Grant 2025 deadline has not been announced yet.
37. NuProject grant programs
NuProject is an Oregon-based nonprofit that supports entrepreneurs in the legal cannabis industry through 0% interest and low-interest loans, grants and coaching. Its grants are available to startups and established businesses operating in Oregon. The nonprofit prioritizes historically underrepresented groups to receive funding. Applications are currently closed.
» MORE: Startup business grants
💡 Nerdy insight
Minority business owners can get small-business loans from banks, SBA lenders and online lenders. Some banks and nonprofit organizations also have dedicated financing programs specifically for minority groups.
If you need more than grant funding can offer, explore our roundup of the best small-business loans for minorities.
Federal business grants for minorities
38. Grants.gov
This database helps grant seekers find and apply for federal funding opportunities. It contains information on more than 1,000 grant programs across federal grant-making agencies, including the U.S. Department of Commerce and the U.S. Small Business Administration, or SBA.
To apply, you’ll need a unique entity ID, which lets you bid on government contracts and apply for federal grants. You'll also need an account at Grants.gov.
39. The USDA Rural Business Development Grant Program
This is a USDA grant for the development or expansion of small businesses in rural areas — minority-owned or not. To qualify, you’ll need to have 50 or fewer new employees and less than $1 million in gross revenue as well as be in an eligible rural area.
Grants can be used for a variety of purposes, including training and technical assistance, acquisition or development of land and long-term business planning. Applications are now open, and will be accepted through the USDA Rural Development’s state offices until Feb. 28, 2025.
40. Small Business Innovation Research and Small Business Technology Transfer Programs
These two small-business programs provide contracts and grants for early-stage small businesses that are looking to commercialize innovative research and development.
Resources for minority-owned businesses
National Minority Supplier Development Council
The National Minority Supplier Development Council is a corporate member organization focused on increasing business opportunities for certified minority-owned businesses. It operates the Business Consortium Fund, a nonprofit business development program that offers financing programs and business advisory services for its members.
Minority Business Development Agency (MBDA)
This development agency of the Department of Commerce promotes the growth of minority-run small businesses by connecting owners with financing resources, federal contracts and market opportunities. Connect with a local MBDA business center in your region for more information.
SBA 8(a) Business Development Program
Socially or economically disadvantaged small-business owners are eligible to receive help through the SBA 8(a) program. It doesn’t offer grant funding but does provide business development assistance, training, and management and technical guidance.
To qualify, a small business must be at least 51% owned and controlled by a citizen who has been subjected to cultural bias or prejudice and placed at an economic disadvantage because of race or ethnicity. Here is a list of eligibility requirements.
Small Business Development Centers
These SBA-sponsored resource centers offer free one-on-one coaching and consulting on topics like market research and financing your business. They may be able to help you apply for the SBA 8(a) Business Development Program and Minority and Women Business Enterprise Certifications.
Operation HOPE 1 Million Black Businesses
The Operation Hope program combines business training and financial counseling along with access to small-business financing options. Through a partnership with Shopify, 1 Million Black Businesses offers business owners and aspiring entrepreneurs free access to Intuit and Shopify products, plus coaching.
Gold House Ventures
Gold House Ventures is an investment fund that provides capital to Asian and Pacific Islander founders. In addition to seed funding, Gold House Ventures offers accelerator programs, classes, mentorship and more.
Amazon Black Business Accelerator
Certified Black-owned businesses with Amazon Professional Seller accounts can apply to join the Amazon Black Business Accelerator. Participants receive a $500 credit to apply toward Amazon Professional Seller startup or operational costs, access to an educational library and monthly webinars and free credits and services for marketing and advertising support.
Alternatives to minority small-business grants
Business grants can be difficult to apply for and even harder to win. For other ways to help fund your minority-owned business, consider the following options.
SBA microloans: These government-backed loans of up to $50,000 can be a good choice for new or very small businesses. They’re typically issued by nonprofit community financial institutions, many of which offer additional training and resources.
Crowdfunding: If you can tell your business’s story online in a way that persuades your customers and supporters to invest in you, you may be able to raise significant capital to launch or expand your business.
Small-business credit cards: Credit cards can help your business keep up with everyday expenses even when your cash flow is uneven.
Business lines of credit: These business loans work like credit cards but usually have higher credit limits. They can be a good choice for companies that need to borrow money but aren’t quite sure how much — you’ll pay interest on only what you borrow, and you can repay funds and borrow again as often as you need.
Peer-to-peer business loans: Because they’re issued by private investors instead of financial institutions, P2P business loans may be easier for new or small businesses to qualify for. Some are similar to crowdfunding platforms.