What Small Business Funding Covers (and Excludes)

GrantID: 21093

Grant Funding Amount Low: $10,000

Deadline: October 14, 2022

Grant Amount High: $10,000

Grant Application – Apply Here

Summary

Eligible applicants in with a demonstrated commitment to Women are encouraged to consider this funding opportunity. To identify additional grants aligned with your needs, visit The Grant Portal and utilize the Search Grant tool for tailored results.

Explore related grant categories to find additional funding opportunities aligned with this program:

Black, Indigenous, People of Color grants, Other grants, Small Business grants, Women grants.

Grant Overview

Removing Barriers for Underrepresented Entrepreneurs: Funding Overview

Access to funding is critical in enabling Black, Indigenous, and other people of color (BIPOC) to thrive as entrepreneurs. This type of funding is specifically tailored to dismantle systemic barriers that hinder these entrepreneurs from accessing vital business resources. The initiative covers funding for mentorship programs, training workshops, and access to essential business networks while excluding traditional small business loans that do not address systemic inequities.

In practice, this funding has been utilized to create mentorship pairings between experienced entrepreneurs and newcomers from BIPOC communities. For example, a successful business owner might mentor a young entrepreneur in developing effective marketing strategies or navigating local regulations. Additionally, funding has supported community workshops focusing on business plan development, financial literacy, and legal matters specific to starting a business, thereby empowering BIPOC innovators. Another notable use case involves launching incubator programs aimed at helping minorities build viable startups in competitive industries.

While this funding is designed for BIPOC entrepreneurs, organizations engaging in advocacy for social justice or change may find it challenging to qualify. The criteria emphasize tangible business development initiatives over advocacy-based programs. Furthermore, traditional business models that don’t emphasize equity and inclusion may also not be suitable for this funding.

Aligning this funding with the principles of equity, the initiatives should demonstrate commitment not only to personal entrepreneurial success but also to contributing positively to the broader community landscape. Funded activities should cultivate collaborations among local BIPOC businesses, encouraging shared resources and mutual support. By fostering an ecosystem of interdependence among these business owners, projects can achieve more significant and sustained impacts, ultimately creating a more equitable business environment.

Eligible Regions

Interests

Eligible Requirements

Grant Portal - What Small Business Funding Covers (and Excludes) 21093

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