Grants for Minority Business Owners

Every year billions of dollars are awarded in the form of free money and other types of funding. Most people know this money exists, but just don’t know where to apply, how much they qualify for, or even where to get an application. Contrary to popular belief, free money is available to entrepreneurs. Real business grants do exist. In fact, hundreds of black and minority-owned businesses each year receive such grant funding from various government agencies and nonprofit organizations, reports BlackNews.com. 

Such funds do not have to be repaid, but must be used to either start a new business or enhance an existing one.Grants.gov allows grant seekers to find and apply for federal funding opportunities. It contains information on more than 1,000 grant programs across all 26 federal grant-making agencies, including the Department of Commerce and the U.S. Small Business Administration.

To apply for federal grants, you must obtain a DUNS number from Dun & Bradstreet (a unique nine-digit identification number) for your business; register to do business with the U.S. government through its System Award Management website, and create an account at Grants.gov.

1. The FedEx Small Business Grant Contest is a nationwide competition that will award $50,000 in total to six deserving U.S-based entrepreneurs and business owners. Go to:
   businessgrants.org/opportunities/fedex_small_business_grant_contest.html
2. The National Association for the Self Employed (NASE) Growth Grants Program allows business owners to apply for financing a particular small business need. Past recipients used funds to purchase computers, hire part-time help, and create marketing materials. Visit: businessgrants.org/opportunities/national_association_self_employed_nase_business_grants.html
3. The Dare to Dream Grant Program encourages students to move through the business creation process by offering business development seminars and up to $10,000 in funding. Learn more at: businessgrants.org/opportunities/dare_to_dream_grant_program.html
4. The Small Business Administration (SBA) administers several competitive business grant programs, ensuring that the nation’s small, high-tech, innovative businesses are a significant part of the federal government’s research and development efforts. Check out:
   businessgrants.org/opportunities/sbir_small_business_research_innovation_grants.html
5. The Minority Business Development Agency (MBDA) organizes various angel investors with the primary objective of supporting minority businesses with mezzanine and second-round financing. Learn more at:
   businessgrants.org/opportunities/minority_business_development_agency_mbda_business_grants.html
6. The Rural Business Enterprise Grants (RBEG) Program provides grants to finance the development of small and emerging businesses in rural areas. The funds can be used for land acquisition, construction, renovation, technical assistance, project planning, and more. Visit:
   businessgrants.org/opportunities/rural_business_enterprise_grants_rbeg_program.html
7. The Huggies MomInspired Grant Program awards grants and business resources to moms to further the development of original product ideas and startup businesses. Learn more at: businessgrants.org/opportunities/huggies_mom_inspired_grant_program.html
8. The DOT Disadvantaged Business Enterprise (DBE) program is intended to ensure nondiscrimination in the award and administration of DOT-assisted contracts in the Department’s highway, transit, airport, and highway safety financial assistance programs. Learn more at:
   businessgrants.org/opportunities/dot_disadvantaged_business_enterprise_program.html
9. The Small Business Innovation Research (SBIR) program provides grant funding to small businesses to engage in biomedical or behavioral research/development that leads to a potential for commercialization. Go to:
   http://businessgrants.org/opportunities/sbir_small_business_research_innovation_grants.html
10. The FedEx Small Business annual grant contest awards 10 small businesses with grants of up to $25,000. Since 2013, FedEx has awarded more than $375,000 in grants to entrepreneurs. Any for-profit small business that has been operating for at least six months is eligible to enter.