The ability to access funds to start or grow a business is even more challenging for Black, women, Latino, LGTBQ, Veterans and other minorities. Find information below on free small business grants or loan programs that are available for minority or women owned businesses (MWBE) or BIPOC-owned businesses (Black, Indigenous, and People of Color) near you.
The list is ongoing and each state (as well as the national directory) will be updated daily as announcements are made. Find announcements on how and where to get loans or grants to help fund your small business, and select your state below or look for national programs.
There are a number of grants for black owned business, including women. Fund are also offered for veteran, Hispanic / Latino owned businesses as well as LGTBQ or female owned small businesses as well as entrepreneurs. These grants and micro-loan programs can help them get the money they need.
Women, Black, Latino, and other minorities often use their own personal cash (or family money) to fund their business, with almost 20% % of black owned businesses also using their credit card (vs. about 10% of white owned businesses) and Latinos also tend to rely more on high cost debt. Women also often face challenges as well in the form of bias or discrimination in trying to get funds. Black owned, minority and women owned businesses all struggle to get bank loans, and their funding challenges is much greater than white owned businesses. Other minority groups as well as women owned or run businesses also struggle with funding.
Lack of capital also is a barrier for growing sales for Black, Latino, women, veteran and minority businesses. Whether starting a company, or growing one, funding is critical and can be the life-blood of your company. The other statistics around access to funding all highlight the challenges for minorities and women. But there are many free small to mid-size grant as well as loan programs out there to help!
MWBE loans and free grants for minorities, veterans and women near you
There is a list of states below. However, in addition to those more local and state resources, there are corporations, banks, and federal government grant or loan programs that offer funds across the country to BIPOC or MWBE businesses. Each one will be allocating some of their funds, as well as other business support such as free coaching or mentoring.
There are small dollar as well as low credit funds from microloan lenders for startup companies and small businesses as well as borrowers with poor credit scores.
Crowdfunding is another option for raising money, including loans, investors or equity type partnerships. There are crowdfunding platforms that focus on female owned businesses, Black or Veteran companies, and startups too. Learn how crowdfunding works and find platforms that can provide loans and funds.
All of those assistance programs above are available nationwide. Minority owned businesses (or entrepreneurs) can try them for free grants as well as loans, or find more help from their local state below. Latinos, Asians, veterans, women, and other disadvantaged companies will always be allocated some of the funds from every program listed.
State loan and free grant programs for disadvantaged businesses
There are many non-profit and government programs that help minority, women, Black, Latino and other businesses regardless of where the business is located. They are listed below, by state. Some state government, corporations based in a state, community banks and other lenders have a more local focus. Find grants as well as small business loans for minorities or women owned businesses in your state below.
In addition to the state resources below, there are national resources too, that cover all 50 states. Find grants and loans for all states – nationwide
MWBE, veterans and immigrants in AZ have other year round grant programs and assistance programs, and find other help for small businesses in AZ.
Other programs are available as well from various organizations. Locate additional free small business resources in CA
Many other grant, loans, and business programs are available all year long. Find more ways to get free business help in CT.
Other programs are available as well from various organizations. Locate additional free programs for small businesses in FL.
Additional non-profit and government programs provide year round support, including grants, loans and more. Find free small business help in GA.
Other small business programs are available for MWBE , disadvantaged and veteran businesses. Find free small business programs in IL.
Year round assistance is available for minorities, women and veterans too. Get help for MWBE businesses in IN.
Statewide programs are available as well for MWBE and veteran owned businesses. Find help in KY for MWBE owned businesses.
Year round mentoring services and free grants are issued by several non-profits and government agencies in the state. Locate help for MWBE businesses in MD.
Several organizations offer year round grants, loans, and support to small businesses, with a focus on disadvantaged companies. More on MWBE business resources in MA
Local non-profits and organizations offer financial help and resources all year in the region. Read more on help for MWBE businesses in MI.
Several non-profits and government agencies offer year round financial help and resources. Locate help in MN for MWBE businesses.
MWBE business owners and vets have year round assistance programs too. Locate help for MWBE owned businesses in MO.
Additional year round programs help MWBE owned businesses in the state, and look here for help for MWBE and vet owned businesses in NJ.
Many other year round grants and small business programs are offered too, and find free MWBE business resources in NC.
The state of OH and local non-profits also operate year round financial assistance programs and grants. Get details on MWBE and veteran business programs in Ohio.
There are many year round MWBE grants, interest free loans and business development services too. Locate free MWBE business resources in OR.
Several year round grants and small business assistance programs are offered year round, and locate free MWBE business resources in PA.
Many non-profits and government programs operate year round and provide grants or mentoring. Learn more on help for MWBE businesses in SC.
There are other year round, local programs in TN for small businesses. Locate business resources in Tennessee.
A number of year round programs are available as well for MWBE and veteran businesses. Find MWBE business programs in TX.
There are many statewide, year round programs as well. Find other small business resources in VA
Washington DC – District of Columbia
Year round resources in exist as well, including free coaching, grants and loan programs. Locate other MWBE assistance programs in WA
Small businesses and entrepreneurs can get financial help year round from some organizations. Find help for MWBE businesses in WI.
By Jon McNamara
