As we all know, starting a business isn’t easy and finding money to run the business efficiently is hard.  There are several grants from the government that will help you get your business up and running.  Here is a list of grants that are available for black-owned businesses and black entrepreneurs:

1. 1. Facebook Small Business Grants Program for Black-Owned Businesses
   2. Bumble Fund Applications
   3. The Verizon Small Business Recovery Fund
   4. The Minority Business Development Agency (MBDA)
   5. SoGal Black Founder Startup Grant
   6. Hello Alice
   7. SheaMoisture $1Million Fund

All grants can be found here: 

All these grants are well known and will aid business owners that fit the criteria.  Apply sooner rather than later to have the best chance of receiving the grant. 

Facebook Small Business Grants Program for Black-Owned Businesses

COVID-19 has impacted the economy in a lot of ways and a lot of people have been impacted.  As a way of small businesses, Facebook has set up a $100m grant in cash and Facebook ad credits for black-owned businesses.

The test for eligibility is as follows:

1. 1. The business applying for this grant has to be a registered majority Black-owned for-profit business
   2. Must have between one and 50 employees
   3. Must have been operating as a business for a minimum of one year
   4. Must have experienced challenges from the COVID-19 pandemic
   5. The business owner must have plans to use the grant to support the business and their community.

If your business fits these criteria, don’t waste any more of your time and apply here: Facebook Grant

Bumble Fund Application

Bumble is a dating site that sets itself apart from the competition that ensures women are the only ones making the first move.  Bumble and Hello Alice have partnered up to create the Bumble Fund Application to support and empower women entrepreneurs.

This fund is targeted at empowering women of diverse backgrounds and experiences.  Everyone who applies gets peer support from fellow business owners who are going through the same challenges along with business advice from expert mentors and investors!  Successful applicants receive educational resources on how to launch their business, grow it, find the right opportunities, have the opportunity to attend and learn from hosted events, gain business support, and more!  The Bumble Fund Application focuses on early-stage investments with an average of $25-50k offered. 

Apply here: Bumble Fund Application

The Verizon Small Business Recovery Fund

US telecom giant, Verizon has set up a recovery fund for small businesses.  At the early stages of the pandemic, Verizon made a $7.25 million investment in a non-profit social enterprise platform to launch the Verizon Small Business Recovery Fund.  This fund focuses on small businesses, particularly in historically underserved communities hit hard by the pandemic.  Successful applicants receive $10,000 and over 400 small businesses have already received grants.   87% of those small businesses are minority-owned (46% by African Americans).

Apply here to learn more about the Verizon Small Business Recovery Fund

The Minority Business Development Agency

This grant provides support for minority-owned businesses across the United States.  The agency provides targeted grants and loan programs such as the Minority Business Enterprise Inner City Innovation Hub Grant, the Entrepreneurship Education Program for Formerly Incarcerated Persons Grant, and the Enterprising Women of Color Grant. 

Check out all the grants and loans listed here

SoGal Black Founder Startup Grant

The venture firm, SoGal was created to bridge the gap between women and venture capital funding.  According to them, black women entrepreneurs receive less than 0.5% of venture capital funding.  As part of their mission to tackle the systemic discrimination within Silicon Valley and the broader VC ecosystem, they’ve set up the Black Founder Startup Grant in partnership with Winky Lux, Bluemercury, twelve NYC, Lively, and other sponsors.

The SoGal Black Founder Startup Grant aims to increase the presence of black women in the world of business and it provides several $5k and $10k cash grants.  Applications are on a continuous basis throughout the year and successful applicants are chosen at random. 

Apply here:  SoGal Black Founder Startup Grant

Hello Alice

AI-powered virtual business Hello Alice has set up a rolling fund for Black-owned businesses affected by the pandemic.  This fund opened in March and it is supported by their partners Silicon Valley Bank, eBay Foundation, and UBS.  The Hello Alice fund has received more than 95,000 applicants from every sector in all the states in the U.S.  Currently, applications are not open, but it is still worthwhile applying.  To apply, click below!

Hello Alice Fund 

SheaMoisture $1Million Fund

The SheaMoisture $1 Million Fund was launched back in April 2020.  This $1 million relief fund is solely aimed at supporting enterprises owned by women of color as well as other minority businesses affected by the pandemic. 

This fund cuts across small businesses not just in the beauty sector but also in the hospitality, e-commerce, and wellness industries, along with other businesses that serve their communities.  So far, there have been some winners and each winner will receive $10,000

Apply here: Shea Moisture Fund

Since this is a popular fund, it is essential that you DO NOT hesitate and put in your application today!  Good Luck!

I hope this list of grants and funds will help you start a business or take it to the next level.  COVID-19 has been an obstacle in a lot of people’s lives but the only thing that matters is how you attack it.  Apply for at least one of these funds today and change your life!