Find where and how to get free grants or loans for your business below. There are funds allocated to women, Latino, LGBTQ, Black, 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 programs from lenders, corporations, banks, non-profits and other agencies that may be near you.
The loans and/or grants for calendar year 2023 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.
Year round financial aid programs, free grants as well as mentoring services
Several financial assistance programs, grant and SMB support is offered year round, as noted immediately below by category (city, county, etc.). In addition, continue to scroll down the page to find loans, grants, and other resources that operate each and every month in 2023.
Statewide BIPOC and MWBE small business financial aid programs, loans, and support
Empire Sate Development operates in all cities, towns, and counties. While they operate a number of businesses development programs (tax abatements, corporate relocations, interest free loans, job training, etc.) they also operate the Division of Minority and Women’s Business Development. They help businesses certify, can direct owners to various capital programs that assist with small business financing, help MWBE businesses in NY win government contracts and more. Read about the government organization here. https://esd.ny.gov/doing-business-ny/mwbe
Small – micro-businesses that are minority owned can get low cost, or interest free loans. The financial assistance is from the state of NY Micro Enterprise Loan Fund Program, and applicants need to have less than 100K in annual revenue as well as be Black owned, veteran, LGTBQ, women owned or other minorities (Latino, Asian, etc.). The loans are issued from banks, credit unions, and other qualified lenders. Find more details on microloans in NY here. https://esd.ny.gov/micro-enterprise-loan-fund-program
Capitol area of NY – Eastern New York MWBE loans, grants and support
Albany Center for Economic Success (ACES) Incubator provides support to small businesses and start-ups. There will be technical help, mentors on site, databases of grants and loan programs and more. ACES is dedicated to entrepreneurs, dis advantaged small businesses including veteran or minority own and others. A wide range of support is provided. Get details here. https://mycommunityloanfund.org/aces-incubator/
Central New York free business grants, counseling, and other resources
Cornell Small Farms Program helps farmers only in the Central NY area. There are free educational resources, training programs, mandatory online training classes and more. The goal is to help small farmers, including those owned by people of color or women, get the no-interest loans they need as well as coaching/counseling/support. The Farm program offers financial help and interest free loans as part of KIVA. Read more here. https://smallfarms.cornell.edu/
The Central New York Community Foundation is providing financial help to Black owned businesses in Syracuse, Onondaga County and nearby regions. The assistance program is known as the Black Equity and Excellence Fund. Grants, loans, coaching services and other aid can go to non-profits, charities, businesses hat focus on education or tech companies and others. Female, Black owned businesses as well as those started/owned by Black Males can apply. More information here. https://cnycf.org/equity#.YAV6u-hKhM1 or use this link https://cnycf.org/receive/grants/black-equity-excellence/
Ithaca New York BIPOC businesses (Black, Indigenous and people of color) can get help starting a business from Black Hands Universal. The local non-profit assists with home buying, business start ups, and provide other free services, including information on how to get Capital for a business. Read more on the non-profit. https://www.blackhandsuniversal.com/
Southern NY area, including Binghamton, can get access to a free business accelerator. The Binghamton University Koffman and the Office of Entrepreneurship and Innovation Partnership is free to small business owners and start ups. Get training, guidance, information on loans or grants and more, with a focus on disadvantaged minorities or immigrants. Learn more here. https://thekoffman.com/programs/
Syracuse University – Institute for Veterans and Military Families has a team of over 100 people that help veterans. There are entrepreneurship classes, job training, and information on raising capital from grants and loans. They are also a Kiva microloan lender. Programs include Entrepreneurship Bootcamp for Veterans (EBV) Accelerator, Veteran Women Igniting the Spirit of Entrepreneurship, Boots to Business, business classes for veteran families and more. https://ivmf.syracuse.edu/
Long Island financial assistance programs, free business grants and loans
Accelerate Long Island helps startups and early stage businesses, in particular tech, health care, and cutting edge companies. There is a seed capital funds, free mentoring, and other support. Assistance is also focused on small businesses that lack access to capital, in particular women, immigrants, and start ups owned by people of color. Get details here. http://www.accelerateli.org/
New York City and downstate area assistance programs for minorities, immigrants, women and others
Citizens Committee for New York City (CitizensNYC) provides microgrants of up to $10,000. The financial assistance can be used for payroll, rent, and other business operations. The non-profit focuses on helping Black, Indigenous, and People of Color owned businesses as well as immigrant, Asian, and women owned companies in NYC. They also work with other lenders, such as Wells Fargo, to provide capital. Continue reading. https://www.citizensnyc.org/
Cross River Bank and the Brooklyn Chamber of Commerce provide solutions to LGTBQ+, minority, and disadvantaged businesses in the Brooklyn area. There is an annual Small Business Grant Program, free coaching, networking and other help. Learn about the Chamber here. https://www.brooklynchamber.com/
Grameen America provides capital to women with a focus on those from disadvantaged communities and parts of NYC. They provide small microloans to help women start and grow a business, with a goal of females (including women of color and immigrants) getting the capital they need. The loans may be interest free and combined with coaching, workshops and other support. More details here. https://www.grameenamerica.org/
Greater Jamaica Development Corporation focuses on the city of Jamaica only. A number of Economic Development programs are offered to small, minority-owned businesses including occasional grants, partnerships with other corporations or non-profits, certification services and more. Find details here. https://gjdc.org/
Harlem Commonwealth Council helps Black Owned businesses in Harlem. They offer low cost microloans, run a Business Solution Center, operate a learning lab and adult education center, minority certification programs and more. The goal is to help the Black community launch and/or grow a business. The Harlem Entrepreneurial Fund (HEF) is a small dollar loan/financial help that can be a form of Capital. Get details here. https://www.harlemcommonwealth.org/
Long Island African-American Chamber of Commerce has many services for Black owned businesses in Nassau, Suffolk, Queens and Brooklyn County. They have free mentoring services, MWBE certification programs, Small Business Community Centers and Navigators to help. Also get information on raising money, loans, grants and more. Learn about Long Island non-profit here. https://liaacc.org/
Minority Women in Business Association of Staten Island provides support to women and well as women of color. There are mentoring and networking services, fund raisers held, MWBE certifications and help gaining government or city business contracts for revenue. Free training, referrals to grants or capital and other aid is given. Find details here. https://www.mwbasi.org/
Nassau County small businesses, including women, veteran, and minority owned, can get financial help from Boost Nassau. This is a multi-faceted program that will offer everything from emergency funds to loans, referrals to government grants, and other assistance. Whether mentoring, help with business plan development or networking, or something else, resources are offered. Read more. https://www.nassaucountyny.gov/boostnassau
New York City (all boroughs) – The WE Fund Crowd offers crowdfunding services as well as interest free loans in partnership with the not for profit Kiva. Small to mid-sized businesses, as well as start-ups, can borrow up to several thousands dollars. Financial help is for immigrants, minorities, LGBTQ businesses and NYC owners with bad credit. A major focus is on giving funds to people who lack access to banks or other capital, which tends to be inner city or Black, Latino, and the Asian community among others. Get low cost loans at this site. https://we.nyc/we-fund/we-fund-crowd/
New York City Asian owned businesses that focus on social causes, art, inclusion, and similar topics can apply for grants from Asian Women Giving Circle (AWGC). A major focus is on helping Asian women and dealing with the challenges that Asians face in NYC and nationwide. The financial assistance is offered in each. Learn more here. http://asianwomengivingcircle.org/apply/
New York City (all boroughs) has a program that assists Black Owned Businesses. The United Way has created the Together We Thrive (TWT) service. There are referrals to financial aid programs as well as other support services. Get help with digital marketing, one on one mentoring, technical help, free legal advice, incubator services and more. Continue reading. https://www.togetherwethrivenyc.org/services
New York City (all boroughs) has a Business Solutions Center program. The city helps businesses start, grow, and operate in the city. Some of the centers also provide interest free loans (0% APR) in partnership with non-profits such as Kiva. They also offer coaching, information on marketing resources and networking, computer as well as website development assistance and many other small business programs. Find a center here. https://maps.nyc.gov/sbs/
Queens office of NYC Business Solutions provides 0%, interest free loans, as part of KIVA. There is one on one coaching and counseling for applicants as well. Learn more on the loans and programs for minorities, immigrants and women in Queens NY. https://www.kiva.org/trustees/6369
New York City Asian owned businesses can turn to Renaissance Economic Development Corporation. There are a number of small business services offered, including no cost or interest free loans, training programs, counseling and more. There are multiple offices to help Asian businesses owners as well as entrepreneurs, including locations in Queens/Flushing, Manhattan, Chinatown and other area. The non-profit works on opening business opportunities for Asian community. More details here. https://renaissance-ny.org/
NYC Small Business Resource Network helps small businesses in the city, with many of the clients being minority, immigrant, and/or women owned businesses. A number of free services are offered, including (1) digital marketing help; (2) business planning assistance; (3) applications to free government grant programs or help finding affordable loans and so much more. Many of the programs are a public-private partnership. Learn about the network here. https://www.nycsmallbusinessresourcenetwork.org/
Queens Economic Development Corporation has several assistance programs for anyone who wants to start or grow a business. A focus is on disadvantaged businesses, such as those owned by people of color, veterans, women, or immigrants. There is a Women’s Business Center, information on MWBE certification, details on local and national grant programs, and Entrepreneurship Assistance center and more. They also help businesses in the restaurant industry or contractors with free training and workshops. Learn more here. https://queensny.org/
Westchester County small businesses as well as entrepreneurs can apply for microloans from Kiva and the Launch1000 program. The Westchester County Office of Economic Development and Entrepreneurship and Innovation center are part of the financial aid program. The funds can help small businesses that do not get traditional funding, which is often veteran, LGBTQ, women, and minority companies or those with bad credit. All of the funds will have a zero percent interest rate. Other incubator programs are offered too, including free coaching from Westchester Rises. Find more information. https://westchestercatalyst.com/business-first-programs/
Northern NY small business grants, interest free loans, and free business resources
Northern New York Community Foundation is a non-profit that will, from time to time, provide free grants to other charities or non-profit. The financial assistance, social as well as business services are offered in the counties of Jefferson, Lewis, as well as St. Lawrence. A focus is on educational businesses, advocacy organizations, arts and culture, and other non-profits with a “social” cause. Learn more. https://www.nnycf.org/grants/grant-information/
Western New York MWBE programs
Beverly Gray Business Exchange Center, which is based in Buffalo and serves small businesses in Erie County, is a resource. The help businesses that are veteran owned (SDVOB) as well as M/WBE, or Women and Minority companies. There is help with financing (either loans or grants), certification as M/WBE, startup help and other services. Erie County, Niagara County, and other western NY regions are supported too. Apply here. https://beverlygraycenter.com/
Buffalo Women’s Business Center (at Canisius College) helps female, women veteran, and minority women (Black, Latina, etc.). There are certification programs, free mentoring and coaching programs, information on fundraising from grants or loans and so much more. Networking is also offered, and they help female entrepreneurs create and launch a business too. Continue reading here. https://thewomensbusinesscenter.com/
LISC of Western NY provides help in the Buffalo area, Niagara Falls and surrounding communities. They will, from time to time, provide free grants to Black owned businesses, including women, as well as other minorities. Or get loans, free counseling or coaching services, wealth building programs and so much more. The non-profit helps people from disadvantaged areas start businesses and/or gain stability. Find details on the lender here. https://www.lisc.org/wny/
Monroe County Industrial Development Agency supports small businesses, with additional programs for small or micro-owned women and minority companies as well as veterans. Everything from coaching to networking to information on government grants, loan programs from partner banks and non-profits as well as other resources are offered. Learn more about COMIDA, County of Monroe Industrial Development Agency solutions here. https://monroecountybusiness.org/
Monroe County small businesses and entrepreneurs that are “underserved”, can get help from the Pathstone Enterprise Center. The non-profit has fixed interest rate small business loans, mentoring or technical help, entrepreneurial training, and other capital or referrals to lenders. Get details here. https://www.theenterprisecenterinc.org/
Niagara Falls is supported by the NFC Development Corporation. The non-profit works on keeping, and expanding, businesses in the city if they create jobs. There will be applications to grants, women-minority business certification assistance and applications, resources for industrial companies and more. NFC is focused on small to medium businesses, including people of color, and increasing jobs. More details here. https://niagarafallsusa.org/government/city-departments/nfc-development-corp/
Rochester and Monroe County businesses (or those who want to start a business) can get small dollar loans, at 0% interest, from Kiva. The crowdfunding type lender partners with the City of Rochester to help both new, start up type businesses as well as existing companies get funds, They focus on minority, veteran, Black owned, and women owned companies among others. As much as $10,000 can be borrowed, including owners with no or poor credit histories. Use the funds for various expenses or costs. Apply for loans here. https://www.cityofrochester.gov/Kiva/
Rochester Urban League Business Development and Entrepreneurship programs are available, with a focus on minority owned businesses in Monroe County NY. There are also resources for disabled people, women, and the disadvantaged. Get help growing or launching a business, assistance finding and applying for loans or grant money, free workshops and more. Apply here https://www.urbanleagueroc.org/small-business
Small Business Development Center for Erie County NY is located at SUNY Buffalo. There is assistance for start-ups as well as entrepreneurs. The free Center also helps existing small businesses in Buffalo, with linkage to many resources for businesses owned by people of color and that are from low-income parts of the city. Learn about free grants, loans (including for applicants with bad credit), business plan creation, technical help and more. Read about the center. https://sbdc.buffalostate.edu/
September and October 2023
Tompkins County non-profits can apply to the Women Building Community Grants. Up to $5,000 will be provided to each qualified non-profit. The applicants need to focus on economic equality, business development, education of women and general social issues. Apply at the City Federation of Women’s Organizations (CFWO), and get details here. https://womenbuildingcommunity.org/
July 2023 and August 2023
Albany NY Small Business Vitality Assistance program provides free grants using American Rescue Plan funds. Each qualified business will get up to $15,000. A priority is on MWBE owned businesses that have less than 20 employees and operate within the city. Apply here. https://www.businessvitalityalbany.org/
New York Forward Loan Fund 2 is a low, cost, possibly interest free loan for small to mid sized businesses (with less than 100 employees). The goal is to help businesses who can’t traditionally get capital get the money they need, so a majority of the funds will more than likely go to MWBE owned businesses. Apply here. https://nyloanfund.com/
Non-profits in Herkimer and/or Oneida County can apply for free grants. There is money from The Women’s Fund of Herkimer and Oneida Counties. The applying non-profit needs to focus on empowering women or girls. This can be economic development, job training, career development, business entering or anything that is helping females. Get details https://womensfundhoc.org/
NYC small businesses can apply for the Pitch Tank Competition, which will provide winners with up to $25,000 in free money for their businesses. The non-profit business mentoring groups SCORE and NYWIB and Accompany Capital are offering the funds, with a focus on also having businesses owned by women, people of color, as well as LGTBQ+ to cooperate. Apply here. https://www.score.org/newyorkcity/event/pitch-tank-2023-business-competition-kickoff-webinar
Minority owned small businesses in East Buffalo can apply for free government grants ranging from $5,000 to $50,000. The money is coming from Empire State Development. The goal is to help businesses grow and/or recover from the economic and social challenges of the area. Learn more on the program. https://esd.ny.gov/esd-media-center/press-releases/esd-announces-round-2-small-business-grants-east-buffalo-after-successful-first-round
InvestHer and the Nasdaq Foundation have a series of programs, workshops and resources to help minority owned businesses / companies owned by women of color bridge the digital divide. The programs combines workshops, mentoring, and information on how to raise money, increase visibility and other barriers faced by women of color. Learn more here. https://www.digitalundivided.com/invest-her-power-series
Green County NY MULTI Grant Program will give $5,000 to $25,000 to qualified small businesses, with a focus on minority, women, low-credit and veterans. The free government money will focus on Capital Improvements that micro-businesses have, with a focus on growth, expansion and development. Learn more here. https://greenecountyedc.com/microenterprise-assistance-grant/
June 2023
Monroe County MicroAdvantage Loan Program is for underserved businesses, including those with bad credit and/or MWBE owned companies. Another focused is on veterans, including those with a disability. Up to $50,000 is loans is offered. Note there is an application fee though, and apply here. https://www.monroecounty.gov/planning-microloan
Minority fashion designers and businesses that are looking to participate in the NY City Fashion Week can apply for free grants. UPS and HBCUs are providing funds. The program is known as HBCU Small Business Grant, and in total up to $150,000 will be paid out. Apply here. https://app.nyfw.com/section/ups
CitizensNYC is offering $3,000 grants for community building projects. In general, the funds are for NYC businesses that will invest in the community, with a focus on minority, immigrant, and women owned businesses in New York City. The funds will help a wide variety of companies, and find details and applications here. https://static1.squarespace.com/static/5f29763b60ad2b5398b30ae3/t/6349d9a7e322920e7967ea47/1665784231829/2023+AING+FAQ+-+EN.pdf
May 2023
City of Newburgh Small Business Assistance Grant Program is for small businesses with under 10 employees. A total of $200,000 will be provided with a focus on dining, restaurants, concert halls, retail, hospitality, arts, bars and entertainment – businesses hard hit by COVID. https://www.cityofnewburgh-ny.gov/392/Small-Business-Assistance
Zonta Club of Auburn is providing women owned businesses with grants up to $750. This is a small non-profit with limited funds, but the agency will help a small number of women owned businesses and/or entrepreneurs. The funds will be for women businesses in Auburn NY. Apply here http://zontadistrict2.org/auburn/index.html
Cayuga County is offering $10,000 grants as part of COVID relief. A major focus is on helping businesses pay for / recover from revenue that was lost during the pandemic. Applicants need to be small to mid sized businesses, that were impacted by COVID, with some grant money focused on women or minority owned businesses. The Economic Development Agency also takes applications, and apply here https://cayugaeda.org/
April 2023
Black owned businesses in CNY can apply for free grant money from the Central New York Community Foundation. The assistance program is known as Black Equity & Excellence Fund. A major focus is on Black owned businesses (as well as non-profits) that have social cause, such as giving back to the community. Grants are available in Onondaga County, Oswego, Cortland NY and nearby regions. Apply here https://cnycf.org/receive/grants/black-equity-excellence/
Nassau County NY small businesses and non-profits can apply for $10,000 grants from the Nassau County Main Street Recovery Grant Program. Some funds will be for veterans, minorities and women, with the money for existing businesses. The applicant needs to have been operating for the last 2 – 3 years, and find details on the Nassau County grants here https://glencovecda.org/wp-content/uploads/2023/04/2023-April-May-Nassau-County-Main-Street-Recovery-Grant-Program.pdf
February and March 2023
NYC based Digitalundivided has $5,000 grants for tech focused businesses owned by women of color – Black, Asian, Latino, etc. It is an Accelerator know as Big, and the financial help is given along with multiple weeks of free, ongoing support. There is also mentorship from other female founders of tech companies. Apply here. https://www.digitalundivided.com/big-2022
Long Island based National Business Capital is providing loans, including some at 0% APR, and a “Shark Tank” type event, to small businesses. Qualified companies can get interest free loans of up to $50,000 and borrow even more money if needed. The money is for businesses that have been operating for at least 2 years, are disadvantaged (including immigrant, MWBE, etc.) and meet other criteria. Get details here. https://www.nationalbusinesscapital.com/fund-tank-landing-page/
East Buffalo Small Business Working Capital Grant Program is being offered by the state in partnership[ with Local Initiative Support Corporation of NY. $5,000 to $50,000 is being offered to small businesses in the area of the recent Tops Market tragedy. In general, the money is going to small to micro companies. The free grant money will help businesses recover, invest and grow in the mainly minority community. Read more here. https://www.lisc.org/wny/what-we-do/neighborhoodbusiness/small-business-grants/small-business-grants-east-buffalo/faq/
The City of Kingston ARPA Small Business Grant Program is providing free $10,000 grants to small businesses. Up to 100 small businesses, sole-proprietors and micro-enterprises will get help. A percentage of the funds will go to businesses owned by people of color, veterans and women, who tend to lack access to capital. The funds can help pay a wide variety of expenses. Learn more and apply here. https://engagekingston.com/small-business-grant-program
NYC Small Business Opportunity Fund is providing low cost, or in some cases 0% APR loans, to small businesses in the city. The government is partnering with Mastercard, The Department of Small Business Services, several CDFIs and other lenders to provide funds. Minority, women, and small businesses can borrow from $2,000 to $250,000 dollars from the NYC fund. Apply here. https://sbsopportunityfund.nyc/?utm_medium=email&utm_name=&utm_source=govdelivery
Long Island NY based Trellus Same-Day Local Delivery is providing a couple dozen $500 grants for businesses on Long Island. The money will need to go towards paying for delivery costs that the applying business has. Some funding will be allocated to MWBE owned businesses in Long Island. But the grant money is targeted and can only be used for approved expenses. Learn more on the Local Delivery Grant https://bytrellus.com/programs/local-delivery-grant/
April 2023 and May 2023
Women owned businesses in Jefferson, Lewis, and St. Lawrence County can apply for grant money from the Maxine Quigg Women in Business Fund, which is in partnership of the Northern New York Community Foundation. Up to $1,000 is provided, with a focus on women owned businesses that have a social cause. The funds will in effect help the female applicant keep the ski9lls they need for overall business success. Apply here. https://nnycf.org/
January 2023
Albany NY small businesses can apply for grants from the BIG program, formally known as the Small Business Building Improvement Grant. Capitalize Albany is processing applications for the city. The money, including grants focused on minority and women owned businesses in Albany, are for improvements to a building or real estate. The free grants are a form of economic development for the city. Learn more. https://capitalizealbany.com/Grants/
Grants and interest free loans were offered in 2022 as well. Those agencies may have referrals or support for small MWBE businesses as well. More on New York 2022 grants and loans for MWBE.
By Jon McNamara
