Find small business financial assistance for programs for women or minority businesses in Missouri. There are a number of free grants, loans, free mentoring as well as other resources offered. Black, Latino, veteran, women owned and other minority businesses or entrepreneurs can find a current, updated lists of MWBE loans and grants in MI near them below.
There may be assistance provided by the state of Missouri or federal government. Low cost loans or grants may also be issued by corporations, non-profit organizations, banks, credit unions as well as other lenders. Any small to mid-sized businesses, start up company or entrepreneur can apply, however a portion of the funds will be given to minority, MWBE as well as black owned companies or BIPOC-owned businesses in Missouri (Black, Indigenous, People of Color).
Most of the money is available for businesses in Kansas City, St. Louis, Columbia, Springfield and other cities. But business assistance is available across Missouri. Whether Black owned, LGBTQ, Asian, or another disadvantaged group, funds are offered.
Missouri small business loan and free grant programs for women or minorities
The list of programs below will be updated daily. Each of the programs has their own application process, terms and conditions. But find agencies that may issue loans and/or free grants.
July and August 2024
Columbia businesses owned by people of color can get grants from the Regional Economic Development and their Minority Business Enterprise grant program. Up to 10 different businesses will get $5000 from the government grant program, which is funded by the city of Columbia. Businesses owned by Asians, Black men or women, Latinos and any minority owner can apply, and get details here. https://columbiaredi.com/mbe-grant/
May and June 2024
OZSBI is partnering with Verizon to offer a free $10,000 grant to a small business in the Ozark MO region. The money will also come with various other assistance programs, including peer to peer coaching, help with digital marketing, website design tips and more. The local program is part of the nationwide Verizon Small Business Digital Ready service, which has helped countless veteran, minority and women owned businesses among others. Apply here. https://ozsbi.com/verizon-grant/
January and February 2024
Kansas City Small Business Capital Program has multiple assistance programs, including loans and grants. The Small Business (SMB) Capital Program issues Micro-Business Grants, Kiva 0% interest loans, referrals, and more. A major focus is on LGTBQ+, businesses owned by people of color as well as veterans. Apply here. https://bizcare.kcmo.gov/capital
November 2022 and December 2022
Shopify, KC BizCare and Operation Hope are providing grant money, online stores and websites, coaching and other resources to Black-owned businesses in the Kansas City region. This is a local and nationwide program that gives financial help to existing and/or newer Black women and male owned companies. Find details here. https://operationhope.org/initiatives/1-million-black-businesses/
Missouri Department of Economic Development is offering funds to small business and start ups from the Small Business Grant Program. The money is part of the federal government COVID relief program. All applicants need to have 50 employees or fewer, they need to be for-profit businesses, and a focus is on service industry type businesses that were impacted by the COVID pandemic. Apply here. https://ded2.mo.gov/media/pdf/small-business-grant-program-final-guidelines
October 2022
Columbia Missouri is providing grants as part of the Downtown Community Improvement District. The funds are for businesses owned by Native American, African-American, Asian Pacific or Asian Indian residents. Up to $5000 will be given to each qualified applicant. The funds are for downtown businesses only and it provides mentoring, coaching and other support. Apply here https://www.discoverthedistrict.com/minority-owned-business-grant
September 2022
KC Digital Drive helps people, and small businesses, in the city in a number of ways. There is information on developing and using technology, occasional grant programs, mentoring resources and more. A wide range of services are offered, on an ongoing businesses, that minority business owners may benefit from. Even learn about the comeback KC Ventures program here. https://www.kcdigitaldrive.org/project/comeback-kc-ventures/
April 2022
Springfield Missouri businesses of color or women owned can apply for free $5000 grants. The financial aid is part of the Advancing Springfield’s Commitment to Entrepreneurship, Networking and Diversity. The money will help the BIPOC business start in the city. In addition to the grants, businesses will get training and advice, and in fact need to participate in Missouri Small Business Development Center (SBDC) programs. Learn more here. https://www.itsalldowntown.com/ascend-program-advancing-springfields-commitment-to-entrepreneurship-networking-and-diversity/
January and February 2022
New minority business startups/entrepreneurs in Columbia Missouri can apply for a $5,000 grant from the Downtown Community Improvement District. The goal of the program is to both (1) further develop the downtown region as well as (2) diversify downtown Columbia with more MWBE owned businesses. Applicants for the free grant need to be nonwhite Hispanic, African American, Native American or Asian, and both male and women owned businesses can apply. The free grant is for a new business or small one that needs a location downtown. Find details here. https://www.discoverthedistrict.com/minority-owned-business-grant
December 2020 and January 2021
Black owned businesses in St. Louis can get free grants. The Justine Petersen Housing & Reinvestment Corporation provides a number of financial services and business development opportunities. They have also received a $5 million grant from Wells Fargo, and those funds will provide capitol to Black owned companies in the city of Saint Louis. Apply here. https://justinepetersen.org/
November 2020
Rebound KC is a free grant program for small businesses in Kansas City. Up to $10,000 is offered to minority, black, Asian, Veteran, immigrant and other businesses as well as startup companies. It is for businesses with under 20 employees and under $750,000 in revenue. If too many people apply, a lottery will be used. Apply here. https://www.lisc.org/kansas-city/lisc-kansas-city-response-covid-19/ccedgrants/
October and November 2020
Over $800,000 is being allocated to Universal City small businesses, with about 25% of that money going to disadvantaged minority and women owned small businesses. It will be a forgivable loan, with the money going to for profit businesses impacted by COVID. Priority is service companies, restaurants, and businesses with customer facing operations. To apply for a loan, dial 314-505-8516.
September 2020
The City of Columbia has launched a microloan program. It is for very small businesses or startup companies. The loan program is run on a “point” system, meaning more points are given to minority, female, Black, or Latino owned businesses that apply. They also favor businesses that have not received any other financial aid. Applications go through the Housing Programs Division in the City of Columbia Missouri. Applications and more information is at 874-6321. Or learn more here. https://www.como.gov/community-development/neighborhoods/housingprogramsdivision/microenterprise-recovery-loan-program/
August 2020
Kansas City Minority Business Resiliency Grant Program is run in partnership with the Kauffman Foundation as well as the UMKC Innovation Center. Anywhere from $500 to $5000 is given to qualified applicant. The funds are for Minority entrepreneurs, including Latinos and black owned companies. Free grants can pay for website development for an online business, working capital, inventory and other costs. Read more here http://umkcinnovates.com/grant/
G.I.F.T, or Generating Income For Tomorrow, helps businesses in the Urban Center area of Kansas City. The focus is on businesses of color and black owned small companies. Restaurants, manufacturers, service companies and others can get a free grant. https://www.kansascitygift.org/
UMKC Innovation Center is partnering with banks in the Kansas City area to launch small business grant programs. There will be funds designated for minorities, Black owned companies as well as women. A focus is on minority entrepreneurs. https://umkcinnovates.com/
City of Columbia provides $575,000 in loans for small businesses. There is emphasis on women and minority-owned businesses, whether Black, Women, or another disadvantaged company. http://www1.komu.com/news/city-of-columbia-provides-575-000-in-loans-for-small-businesses
By Jon McNamara
