Year round free financial assistance programs, grants, business coaching and more in Kentucky
Many KY grant, loan, and free small business assistance programs operate all year. Find help below by “category”, including by region, city, and county in Kentucky. Or continue to scroll down the page for the latest MWBE and veteran business grants and loans by month.
MWBE financial assistance programs available across the entire state
Access Ventures is based in Louisville, and they invest in minority, LGBTQ, women, and disadvantaged businesses that are “locked” out of mainstream lending programs. Those businesses that can’t get a bank loan or financing may benefit from Access Ventures. Learn more here. https://accessventures.org/
African American Chamber of Commerce has many assistance programs for the Northern Kentucky area. They have resources such as “Business Basics”, bi-weekly business accelerator classes, and information on how Black-owned businesses can raise money, including loans, government grants and more. All of the services are free, and read more here. https://www.african-americanchamber.com/
Community Venture is a CDFI that helps disadvantaged businesses, such as those in low-income areas, minorities, women-owned and others. Programs range from loans to USDA Rural Development Grants, coaching in partnership with the Women Business Development Center in KY and more. Get details here. https://cvky.org/businesses/
Louisville area free government grant, coaching/mentoring and loan programs
Jefferson County and Louisville small businesses can get very low interest loans (or information on free grants) from the Metropolitan Business Development Corporation (METCO). The money can be used for working capital, to pay for rent and utilities, inventory, and more. Program participants, especially minority and women owned companies, can also use business accelerator programs in the county. Midi and Business Accelerator Loans, Gap Financing and more. Find details here. https://louisvilleky.gov/government/louisville-forward/local-loan-programs
Kentucky Small Business Development Center has a range of assistance programs, including grants, loans and training. The government office is for businesses, including minority owned, in Christian, Daviess, Hancock, Henderson, Hopkins, McLean, Muhlenberg, Ohio, Todd, Union and Webster County. Find details here. https://kentuckysbdc.com/
Louisville Central Community Center offers many business assistance programs to minorities, including the METCO loan for Muslim small business owners or startups. There are other economic development programs, loans, grants and more from the non-profit. Learn more here. https://www.lcccnews.org/
Louisville Power to Prosper Minority Business Accelerator has a number of assistance programs for Louisville KY area businesses. The program is funded by the city, government grants, and Interise. Get financial help, strategic planning, assistance with marketing sales, free grant money and more. The GLI’s Power to Prosper Minority Business Accelerator is ongoing, and read more here. https://www.greaterlouisville.com/mba/
Noir Black Lending CDFI provides loans to the disadvantaged, with funding for business start-ups too as well as growth of an existing company. A number of assistance programs are offered, including to business owners of color or those with bad credit scores. More details here. https://www.noirbcc.org/noir-blacklending-cdfi
The Louisville Urban League and a non-profit known as the A Path Forward have launched the Center for Entrepreneurship. The goal is to help increase minority business ownership in Louisville as well as Jefferson County. There is financial coaching programs, legal aid, marketing help, and of course applications too (and information on) free government grants and/or low cost loans. Other partners of the center include AMPED’s Russell Technology Business Incubator, MELANnaire Marketplace, Buy Black Lou and the Louisville Small Business Development Center among others. Learn about the center here. https://lul.org/blackbusiness/
Louisville businesses can also try Seed Capital Kentucky for financing, including information on 0%, interest free loans from Kiva. They help farmers; small minority, women, and veteran owned businesses; assist restaurants and grocery stores as well as other “food focused” businesses. There is business development help, accounting, legal services, and other support too. But as far as financial help, the Kiva Zip Loan program can assist. Learn more. https://www.seedcapitalky.org/
The Plan Room is an accelerator for Black and minority owned construction businesses and start-ups in Louisville KY. The assistance programs is run in partnership with OneWest, the CDFI lender. Get financial help, training, workshops, free mentorship and other services, including capital. Get details here. https://theplanroom.org/
Northern KY grant and mentoring programs for women, minority, and veteran owned businesses
Covington Businesses can get year round help from Innovation Alley. It is a partnership of The Greater Cincinnati & Northern Kentucky African American Chamber of Commerce (AACC), City of Covington, and the Northern Kentucky University Collaborative for Economic Engagement. The KY Hub program will give free coaching, help with applying for grants, accelerators for businesses owned by women of color and many other tools. Read about the Innovation Alley Hub here. https://www.covingtonky.gov/news/2020/08/11/innovating-innovation-alley
Northern Kentucky area businesses (and those in Cincinnati) can get assistance from a business accelerator from Northern Kentucky University. There may be free grant money from a program known as Fundnoire, which focuses on Black owned, minority, Latino, and BIPOC businesses. there are business leadership classes, mentoring, advice, coaching and other mentoring services as well as the grant programs. Read more here https://www.nku.edu/socapaccelerate.html
Northern KY Aviatra Accelerators is based in Covington and the non-profit helps women entrepreneurs. They help women owned business get free professional advice, access Capital (including grants or loans), various workshops and other support. Both existing and new businesses will get help. Learn more here. https://www.aviatraaccelerators.org/
Southern and Western Kentucky small business financial assistance programs
Bowling Green low income, women, minority owned businesses can contact POP-UP. The program is part of the Housing Authority of Bowling Green, and operates as a non-profit/charity. They help the underserved as well as businesses with low or no credit. There may be low cost loans, networking events, financial help, businesses coaching, and many other services. Learn more on the non-profit here. https://www.facebook.com/HABGPOPUP/
Madisonville-Hopkins County Economic Development Corporation as well as the Madisonville Minority Economic Development Council provide a wide variety of financial assistance programs, including to Black women owned companies, veterans, Latino and others. There is also help with certification, applications to government grants, and other economic development services. Read more here. https://www.westcentralky.com/
By Jon McNamara