The entrepreneurial spirit of black women has been a driving force behind the growth and success of numerous businesses worldwide (Perez, 2022). Despite facing unique challenges, black women continue to break barriers and create innovative ventures. To support and empower these dynamic entrepreneurs, various organizations and institutions offer grants specifically designed to help black women start and grow their businesses. Today, we’ll explore some of the grants available to uplift black women entrepreneurs on their journey to success.
The Amber Grant is a monthly small business grant awarded to women-owned businesses, including those owned by black women (WomensNet, n.d.). Each month, one recipient receives a $10,000 grant to support their business ventures. At the end of the year, one of the monthly grant winners is awarded an additional $25,000 grant through the “Year-End Amber Grant.”
Eileen Fisher Women-Owned Business Grant Program:
This grant program is dedicated to supporting women-owned businesses that are making a positive social and environmental impact (Eileen Fisher, n.d.). Black women entrepreneurs with a focus on sustainability and ethical business practices can apply for grants ranging from $5,000 to $10,000 to fund their businesses.
National Association for the Self-Employed (NASE) Growth Grant:
The NASE Growth Grant offers financial assistance to small businesses and startups, including those founded by black women (NASE, n.d.). The grant amount can range from $4,000 to $10,000, and it aims to help entrepreneurs invest in their businesses for growth and expansion.
Cartier Women’s Initiative:
The Cartier Women’s Initiative is a global program that supports women entrepreneurs leading innovative and socially impactful businesses (Cartier, n.d.). Black women entrepreneurs with businesses between one to five years old can apply for grants of up to $100,000, along with personalized business mentoring and networking opportunities.
Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Programs:
Although not specific to black women, the SBIR and STTR programs are offered by various federal agencies in the United States (SBIR/STTR, n.d.). They provide research and development grants to small businesses, including women-owned enterprises, working on cutting-edge innovations and technology solutions.
The Tory Burch Foundation Fellows Program:
The Tory Burch Foundation offers a Fellows Program that supports women entrepreneurs in the United States (Tory Burch Foundation, n.d.). The program provides education, mentorship, and grants to women-owned businesses, including those led by black women, to help them scale and achieve success.
Grants for Black Women Entrepreneurs from State and Local Governments:
Many state and local governments offer grants and financial assistance programs to support minority-owned businesses, including those owned by black women. Research the programs available in your region to explore the opportunities provided by your local government.
The availability of grants dedicated to supporting black women entrepreneurs is a testament to the immense value and potential they bring to the business world. In addition, grants not only provide financial assistance but also offer valuable networking, mentorship, and exposure opportunities. Aspiring and established black women entrepreneurs should proactively seek out these grants and other resources to turn their business visions into reality. By fostering a supportive environment and providing access to capital, we can collectively uplift black women entrepreneurs and pave the way for greater diversity and innovation in the business landscape.