Free grant programs as well as interest free (or low cost loans) that help minority as well as women owned businesses in Texas. There are resources for start up companies as well as small to medium sized businesses. Find more details below on how to apply for funds near you. Each lender, agency, non-profit or government program is allocating some of the grants, loans, or assistance programs to both minorities as well as women run or owned companies.
There will be funds to help minority and women owned businesses either create or retain jobs or pay for approved business expenses. In addition to the loans as well as free grants, many of the agencies give other support. This may include free mentoring, advice on creating online businesses, sales help, free legal aid, and information on other local (or national) business development programs.
While most of the financial aid and counseling is for minority (Black, Latino, Asian, LGBTQ, etc.), veteran or women owned businesses in Texas, there is also help for businesses regardless of race or gender. Whether in Dallas, Houston, El Paso, San Antonio, or another city or town in Texas, support is available in the form of loans or grants.
Find minority and women grants or loans in Texas
The list of resources below is updated daily. It includes loans, grants, workshops, free counseling and more from non-profits, government agencies, banks, as well as corporations in Texas. Whether financial help to start or grow a business, or free business advice, assistance is offered. Find more details on applying below.
Collin CARES Small Business Grant Program is for small businesses in Collin County Texas that have been operating for at least one year and that have less than $5 million in annual sales. The financial assistance is in the form of a free Grant, with applications for Spanish speakers as well. While most minority and female owned businesses will get $5,000, some small businesses may be awarded up to a $25,000 grant. Pay for inventory, working capital, and other costs. Read more here. https://www.collincountytx.gov/cares/Pages/SmallBusinessGrants.aspx
Houston and Harris County disadvantaged businesses (minorities, Latinos, women, etc.) can get financial help from the government. The free grants can pay a number of operational expenses. There is also free consulting services from mentors or experienced business personnel in the region. Dial 713-845-2476 for information or applications on the Houston grants. Or more details here. https://www.harriscounty-sbrfund.org/
Fort Bend County is offering free grants of up to $25,000 per small business owner. It can be for a sole-proprietor or a company with up to 20 employees. The funds can help minorities, veterans, or other owners pay business costs, build working capital, and help them keep their doors open or grow. More info here. https://www.coronavirusfortbend.gov/covid19-small-business-emergency-assistance-grant-program.html
Webb, Zapata and Starr Counties residents can apply for small business loans. The South Texas Development Council is offering assistance using federal government funds. The money can help pay for expansion, loans can be for working capital, or paying other business expenses. Call (956) 722-3995 for details or applications.
By Jon McNamara