Find free grants or loans for your business below. There are funds allocated to women, Latino, LGBTQ, Black, veteran and other minority owned businesses in New York. Small business owners, entrepreneurs, and start up companies may be able to get financing from a number of lenders. Find free MWBE grants and loans in NY from lenders, corporations, banks, non-profits and agencies that may be near you.
The loans and/or grants for calendar year 2024 are for any small to medium sized business that meets the lenders application criteria. However each of the programs listed below will allocate some (or all) of the funds to women and/or minority owned businesses in New York state. Not only may capital be given to the small business owner, including MWBE and BIPOC, but the organizations also give other support. This may include, but is not limited too, free mentoring, technical support, help creating business plans, networking advice and so much more. All of this assistance will be free.
There are business loans and free grants across the state. There are options in the New York City area as well as major citizens of Rochester, Buffalo, Syracuse, and other cities or towns. Minority owned (or run companies) as well as women and veteran can apply for financial aid and counseling from an agency near them.
Find business loans as well as free grants for women or minorities in New York
The list of resources below is updated daily. Everything from grants, free counseling, microloans, financing and more may be offered. As noted, priority is given to disadvantaged groups in New York. This may include veterans, Black owned businesses, Latinos, women run companies and others.
May and June 2025
Business Growth Accelerator Program is a statewide service from Empire State Development. The program is focused on MWBE businesses in the state. The service will provide a variety of free support ranging from mentoring to help getting certified and more. This is an annual accelerator for MWBE businesses in New York https://esd.ny.gov/mwbe-business-growth-accelerator-program
Long Island based non-profits that focus on economic issues or addressing environmental challenges can get as much as $15,000 from the PSEG Neighborhood Partners Program for 2025. A major focus is on addressing inequality of race, gender and income environmental issues and economic with details here. https://corporate.pseg.com/corporatecitizenship/psegfoundation/neighborhoodpartnersprogram
April 2025
Rochester NY is providing information, and applications, to interest free loans from Kiva. There is a Thursday Thinkers session taking place in which the latest details, applications and more is offered. The 0% loans focused on MWBE and veteran owned businesses with details here. https://www.cityofrochester.gov/departments/department-recreation-and-human-services-drhs/thursday-thinkers
February and March 2025
The New York State Airport Concessions Disadvantaged Business Enterprise (ACDBE) Fund is a interest free-low cost loan program with some grants also offered. The money is for businesses, such as restaurants and others, at the Port Authority’s New York City airports, in particular immigrant, MWBE and disadvantaged companies. Apply and get details here. https://esd.ny.gov/airport-concessions-disadvantaged-enterprises-fund
Albany County is providing free grant money to small businesses impacted by COVID (yes COVID! even though it is 2025). The Community Loan Fund of the Capital Region is processing applications and giving out the money, with businesses (including MWBE) having to be operating since before 2020. Learn more on other criteria here. https://mycommunityloanfund.org/albany-county-arpa-grant-program/
Small businesses on Long Island can apply grant money from a program run by Optimum Businesses in partnership with the non-profit Long Island Association Foundation, or LIAF. Each qualified small business will get up to $5,000, with money offered in both Suffolk and Nassau County NY. African American Chambers of Commerce and the Long Island Hispanic Commerce will also be partners as some money will go to MWBE businesses. Apply here. https://www.longislandassociation.org/foundation/
December and January 2025
Allegany-Cattaraugus-Chautauqua Fund for Women is issuing grants to organizations (businesses or non-profits) that are focused on women’s issues. The money can help a woman start a business or non-profit that addresses economic inequality. Or funds can help with women’s health issues or really any female focused topic, and apply here. https://www.accffw.org/grants
Utica NY women and minority owned businesses can get free small business grants from the Department of Urban & Economic Development. Several grants will be issued, with a total of $165,000 to be provided in total. The money will come from the Community Development Block Grant that the development is running, and get details here. https://cityofutica.com/departments/urban-and-economic-development/index
Non-profits that focus on environmental issues, in particular conservation, can apply for $50,000 grants from the Nature Conservancy. It is a project based financial assistance program known as the Climate Resilience Grant Program. The state of NY and Nature Conservancy are partners on it, and get more details here. https://www.nature.org/en-us/
By Jon McNamara
