Black, Latino, LGBTQ, Asian, Veteran, and Women owned businesses in Ohio can find free grant programs as well as low cost loans to help them finance their business (or start up). Find lenders, government programs, non-profits, and sources of funding including in Cleveland, Columbus, Cincinnati, and other Ohio towns. Locate loans, free grants, mentoring programs and more in Ohio for women and/or minority businesses.
The money can cover various business expenses, including payroll, sales, rent, website or technology costs, marketing and more. Each lender (or grantor) will have their own terms and conditions in place as well as application process for a free MWBE or BIPOC grant or loan. But each of the programs listed below (which are updated daily) have agreed to provide some of their funds to minority owned as well as women owned companies.
Not only may a small business in Ohio get the funds they need to grow (or save) their business, but there are also programs that help minority or women entrepreneurs, grants for Black women, as well as money for startup businesses. The assistance can come from a bank, foundation, government agency, non-profit, corporation or other lenders.
Find small business loans or free grants in Ohio for women or minority companies
The funds and programs below are updated daily and by month. As noted, some of the low cost loans or grants are allocated to veterans, LGBTQ, Black businesses, Asians, Latinos and women owned businesses.
January and February 2025
Cleveland non-profits and businesses in the South Euclid area can get a free grant from the community organization One South Euclid (OSE). The money is for upgrades to the location. It is a matching program, as the owner also needs to pay as the Exterior Home Repair Program from OSE only covers half the cost. Apply here. https://www.onesoutheuclid.org/grants-for-residents
October and November 2024
Toledo Legacy Corridor Business Resilience Grant is up to $5,000 that can be used to help small businesses, including those owned by people of color, with operating costs. The government money can pay for rent, utilities, and other operating costs. the funds are only for businesses with a physical location in that corridor, and more details are here. https://toledo.oh.gov/residents/neighborhoods/transportation-traffic/road-construction/legacy.
March 2024
City of Wooster is proving grants with a physical storefront / location that are located downtown. Up to $5000 is provided to help pay for a portion of a new facade. There will be funds also allocated to disadvantaged businesses as well as those with bad credit. Apply here. https://www.mainstreetwooster.org/facade-grant
December 2023
United Way of the Greater Dayton Area is provide in effect free grant money for advertising. The program is part of their Prosperi-Key Small Business Grant, and it is free advertising on their online marketplace. There are other small businesses services as well. Learn more here. https://docs.google.com/forms/d/e/1FAIpQLSenG1kohcGCg_SXZUtGwEm-eRNgApShtu8whPgFbaJLuZP5DQ/viewform
Verizon and the Greater Cincinnati and Northern Kentucky African American Chamber of Commerce (AACC) are providing help to Black owned businesses and entrepreneurs. There is capital (grants and loans), website development, free internet access and other services. Both financial help and advice is offered, and learn more on Digital Horizons: Bridging Ohio Communities. https://theaachamber.com/resources/
September and October 2023
Valley Partners, a CDFI in the Liberty Township OH area, has a multiple year grant program that will help businesses pay for accounting and legal needs. A major focus of the CDFI is on disadvantages businesses, including minority owned or those with bad credit. Up to $10,000 is given per grant, and learn more on Valley Partners here. https://www.valleyedp.com/
August 2023
Lima Ohio has 2 loan programs. They are the Small Business Revolving Loan (microloans up to $5,000 per business) and the Small Business Facade Revolving Loan. There are funds for small businesses under 5 employees, with a focus on minority owned companies. The façade loan is for physical appearance of a business, and learn more on both here. https://www.cityhall.lima.oh.us/
April, May 2023 and June 2023
Dayton Resiliency Fund is a year long grant program run by the Urban League. Free grants ranging from 1 to 10K are issued. The financial assistance is for minority- and women-owned businesses in Dayton Ohio, and apply here. https://www.cincinnatieec.com/eec/the-resiliency-fund-dayton/
Toledo Business Growth Fund as well as the Economic and Community Development Institute is providing very low interest rate loans (maybe some businesses 0% loans) to manufacturing companies. Millions of dollars will be provided to help small businesses, including those owned by veterans and MWBE, to grow, create jobs and expand. Learn more on the Toledo OH Growth Fund. https://www.ecdi.org/toledo-fund
The Lima Ohio Historically Disadvantaged Microenterprise Loan is providing up to $5,000 forgivable loans to existing small businesses in the city. The business needs to have revenue and be operating for at least 6 months. Loans are for women or minority-owned, veteran-owned and those owned by a disabled person. Get details here. https://www.limaohio.com/top-stories/2023/04/19/lima-launches-small-business-loan-program/
February and March 2023
Minority, veterans, LGTBQ+ and women-owned Ohio small businesses can apply for financial help from two different programs. They include (1) Ohio Micro Loans as well as the Women’s Business Enterprise Loan Program. Up to $10 million dollars in total is available. Applications are processed by Ohio Department of Development, Minority Division. Find details here. https://development.ohio.gov/business/state-incentives
November 2022
Licking County Black owned businesses can apply for free $2500 grants from the Kinetic Business – Black Business Support Fund. There is financial help combined with one year of free internet service. The funds are for small, “for-profit” businesses with under 25 employees. The funds are also part of Windstream. Apply here. https://business.windstream.com/bbsf
City of Kettering’s Microenterprise Loan Program is for very small businesses/sole-proprietors in the city. The very low interest rate (or 0% loans) are offered from the the Economic Development Department and the Community Development Division of the Planning and Development Department. The focus is on small, growing businesses within the city limit, with women and other disadvantaged groups given priority as well. Apply here. https://www.ketteringoh.org/microenterprise/
September and October 2022
Dayton City is providing grants from the First Floor Fund (FFF). Forgivable loans, meaning they turn into grant money, will help businesses in the city that have storefronts. There may be funds for minority or veteran owned restaurants, retail stores, gyms or fitness centers, beauty salons and mothers. The loans/grants need to be used to pay for construction costs, store fronts, or projects around revitalizing the city. Read more here. https://citywidedev.com/resources/first-floor-fund/
Walter C. Potts Entrepreneur Center has $500 grants for minority as well as small businesses in Allen County/Lima. The goal of the program is to help small companies get access to capital. Applicants need to be at least 51% owned by a women or minority. There is also a goal to help grow innovate businesses, such as tech companies and manufacturers among others. Apply for the $500 grants here. https://limachamber.com/economic-development/waltercpotts/
August 2022
Cleveland/Cuyahoga County Small Business Stimulus Grant Program is available. Businesses with under 50 employees can apply for $50,000 grants, with a major focus on disadvantaged businesses (women, minority, veteran, LGTBQ, etc.) At most $50,000 will be provided, with the range of 10K to 50K per qualified business. The funds are part of the American Rescue Act/Plan. The government grants can pay for marketing, general business expenses, payroll, inventory and more. Apply here for the Cuyahoga County financial aid. https://cuyahogacounty.us/development/cuyahoga-county-small-business-stimulus-grant-program
July 2022
Black owned businesses in Cincinnati can apply for free grants from the Lincoln and Gilbert program. Up to $15,000 is provided. The goal of the program is to increase the number of black owned businesses in the Cincinnati area. The funds are offered in partnership with the African American Chamber of Commerce, Urban League, Lightship Capital and other companies as well as non-profits. Find details on the free grants, tiers and agencies here. https://www.lincolnandgilbert.com/tier-info
May and June 2022
Cuyahoga County and NDC are providing low cost, maybe interest free loans, to small businesses impacted by the COVID pandemic. The government is contributing hundreds of thousands of dollars to the program as well. In aggregate, up to $100,000 is being provided to small women, veteran, and/or minority owned businesses in the county. Apply here. https://ndconline.org/cilf-loan/
Cleveland Foundation has ongoing grants for minority owned businesses. The focus is on social, cultural businesses or non-profits, as well as those that battle income or racial inequality. There is also a focus on minority and black owned businesses that help with community development, health and youth services. Businesses in Cuyahoga, Lake and Geauga. Find details on the Cleveland Foundation grants. https://www.clevelandfoundation.org/grants/apply-for-a-grant/
United Way of Greater Cincinnati is providing free grants ($5K to $25K) to minority and Black owned businesses that have a social cause. Recipients can be for private businesses or non-profits that are working to address systemic racism in Cincinnati and/or Hamilton County. It can be around helping with poverty, underfunded small Black owned businesses, housing, employment or other barriers. More details are here. https://www.uwgc.org/your-impact/programs-initiatives/black-led-social-change/black-empowerment-works/black-empowerment-works-application
April 2022
$5,000 government grants are available from the Shelby County Ohio Small Business Relief Program. This is a financial assistance programs for businesses, including MWBE, veteran, and immigrant owned companies, that were impacted by the COVID pandemic. The program is one of last resort and it can’t be combined with other federal government, local, or state programs. The money can pay for salaries, mortgages, rent, and other operating costs. Apply here. https://co.shelby.oh.us/shelby-county-small-business-relief-program/
May and June 2022
Black owned businesses in Cincinnati can apply for free grants from the Lincoln & Gilbert fund. Qualified small and medium businesses can be given either $2500, $5,000 or $15,000. A major focus is on grants for Black women owned businesses in the Cincinnati Ohio area as well as other disadvantaged, even male owned. The amount of money will depend on the applicants revenue as well as other factors, but the free grants can also help Black owned businesses with poor credit scores. Apply here. https://www.lincolnandgilbert.com/
March and April 2022
The City of Columbus is offering free grants ranging from $5,000 to $20,000. The money will help businesses in low-income parts of the city, the disabled, underserved (such as veteran and MWBE). The business needs to be small or micro-sized and have been impacted by COVID. Find details on the Small Business Recovery Fund here. https://sbdccolumbus.com/columbus-franklin-county-recovery-grant/
The Sisters Accord Foundation is offer 5 businesses free grants of up to $10,000. The financial assistance is part of an accelerator program. The non-profit is based in Mason Ohio but covers the state and wider region. The program is known as the Sister Accord Accelerator and it also includes mentoring, coaching, and ongoing support. Find details on the foundation and accelerator program here. https://thesisteraccordfoundation.org/tsa-accelerator/
February and March 2022
Dayton Human Relations Council’s Minority Business Assistance Center (MBAC) is providing microgrants for “underserved” small businesses, which are more often women or minority, veteran owned, and people with bad or poor credit. MBAC is also partnering with First Financial Bancorp on the program as well as other companies. They also help with MWBE certifications, business plan development, referrals to grant programs and other support. Read more. https://development.ohio.gov/business/minority-business/minority-business-assistance-centers
October and November 2021
Columbus and Franklin County MWBE businesses with under 25 employees can apply for the Franklin County Community Equity Fund. Free government grants of either $5000 or $10,000 will be provided. They also help fund startups. The Urban League is partnering with the county on applications. A major focus is on helping Black and Brown businesses that were impacted by COVID. Apply here. https://www.cul.org/initiatives/franklin-county-community-equity-fund/
The Women’s Business Enterprise as well as the Ohio Micro-Enterprise Loan Program provides low cost loans. There are funds for small businesses, start ups, and others with some money allocated to MWBE companies. Micro-businesses can in fact apply for loans at 0% interest rate. The state of Ohio is providing the grant funding for this financial aid program. Learn more. https://development.ohio.gov/minorityservices.htm
September and October 2021
Women-owned businesses as well as minority owned micro-enterprises have access to several million dollars from a loan fund that is run by the Ohio Women’s Coalition. Each qualified business may be able to borrow tens of thousands of dollars. The goal is to help small businesses as well as sole-proprietors, venture capital companies, and well as start ups. Learn more. https://ohiowomenscoalition.org/
Columbus Ohio businesses, in particular Black and people of color, can apply for $5,000 microloans that have very low interest rates (or even 0%). The funds are even for business owners with no or poor credit histories. A major focus is on helping small businesses expand and hire people. The Urban League of Columbus is overseeing the program and taking applications for the loans. One program is known as the Minority Small Business Resiliency Initiative. Continue reading. https://www.cul.org/
Duke Energy and the City of Cincinnati are providing $5000 grants to small businesses that have been impacted by COVID. The Duke Energy Relief Funding program will give priority to women, veteran, and minority owned businesses. The funds can cover payroll expenses, mortgages or rent, legal aid, digital marketing, insurance and more. Apply here. https://www.cincinnatichamber.com/DukeFund
August 2021
Dayton Ohio Black owned businesses can participate in the Gem City Black Business Month. It is a month long event with workshops and seminars all across the city. Network, learn about grant and loan programs, build partnerships with other minority business owners, find revenue opportunities and so much more. Learn about this free event. https://www.ohiofrn.org/events/gem-city-black-business-month
May and June 2021
Cincinnati area minority, women and LGBTQ owned small businesses can apply for free grants from the Cincinnati Chamber Foundation as well as the Johnson Foundation. Anywhere from 5,000 to $10,000 will be paid out to qualified businesses. The applicant needs a business plan, references, need to be a small business, have sales and more. Most of the financial help is for service businesses (that are “customer facing”) and that have been hot hard by recent economic challenges. Apply here. https://www.cincinnatichamber.com/foundation-grant
March 2021
Columbus Ohio companies can apply to First Financial Bancorp. The bank is offering several grants of $2500 to Black, Indigenous, Latino and people of color (BIPOC) small businesses. The Columbus Urban League is partnering with the lender. All the grants are part of the Small Business Resiliency Initiative. The money is for Columbus metro area, including all counties around it. Learn more. https://share.hsforms.com/1KZE8VLQ6TEWNSTv-FrZebA4nxxw?fbclid=IwAR2EqDZcUnC6NlMppteljwSZzVqDj7rsWlwA43VAvWKuFhGhR0d4dZh-xLY
Sandusky Ohio minority owned and founded companies can apply for a free $2000 grant. The funds are provided from the Minority Business Empowerment Team. Dozens of businesses will be awarded the money, and the funds can be used to pay aby type of bill. Grants are run in partnership with local non-profits in Erie County Ohio including the Economy Development Corporation. Apply here. https://www.eriecountyedc.org/rise
December 2020
Minority owned businesses in the city of Cincinnati can apply to the J. Phillip Holloman Endowment Fund. It is run by the City Chamber of Commerce. Minority owned businesses (including Black, Latino, Native American, Asian, etc.) can get funds to help them grow their business. It is an accelerator program. Equity investments, loans, or grants may be issued and free advice as well as business help arranged. First Financial Bank is a partner. Learn more/Apply here. https://www.cincinnatichamber.com/
October and November 2020
Toledo and Lucas County is offering funds to help both (1) non-profits and (2) private, for profit businesses. Most of the funds will be allocated to minority as well as veteran or women owned businesses. The funds can be used to pay utilities, rent, housing, and other small business expenses. Black, Latino, women, LGBTQ, and other disadvantaged business are given priority. Funding is limited, but read more here. https://www.toledochamber.com/grant.html
$8 million dollars is being offered in Franklin County and the City of Columbus. CARES Act funding is flowing to the county, and money can help small businesses as well as start ups. Priority is for vulnerable small businesses that were hot by Coronavirus. Black owned businesses, Latino, women, Asian, and other minority companies are often given priority. This is a free grant program. Call (614) 257-6300 for applications.
August 2020
Columbus and Franklin County residents can get grants from the A Business Growth and Equity Alliance. About $1.6 million dollars will be allocated by the Urban League of Columbus Ohio to minority (Black, Asian, LAtion, etc.) as well as women owned businesses. In addition, free technical assistance is offered to help them grow their business, increase sales, and get the support they need. The Urban League is disbursing the free grants. Dial (614) 257-6300 or https://www.cul.org/
By Jon McNamara
