Black Women Business Grants are accessible if you know where to look. Indeed, many African American businesswomen may wonder if there are indeed business grants for them out there, especially for those who identify as minority business owners.
As cumbersome as the search for grants for black business owners, entrepreneurs, and potential business owners for both federal grants and other grant-offering agencies can be, it is very feasible today in 2020 as it was years before the global pandemic of 2020.
However, one thing does stand out, these grants exist, but navigating the complexities of securing these grants for black women businesses can be quite challenging in many ways than one.
consistently has now become a luxury for most people, even in America. A student needs to shell out around $20,000 for a private college per academic year, while public institutions’ fees range around $10,000.
This can only be afforded by wealthy people, making it impossible for financially challenged individuals, especially minorities, to afford a college education.
This situation is even worsened if you are a woman from a minority group like African Americans. Though women’s rights are generally recognized in modern society, there is still an imbalance in opportunities available in the field of higher education and industry-specific careers.
Latest Grants for Black Women Businesses in 2020
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This grant is one that requires you have a plan with what you would do if you got the grant awarded to you. The Bumble funds help provide financial assistance to small black businesses. This program has a simple application process that can be filled out within a few minutes.
The requirements for Bumble funds is not one that requires excessive paper work or business history. The program is very focused on contributing to the community by providing them the necessary tools and resources to thrive in their businesses.
This is an agency of the Department of Commerce, The Minority Business Development Agency (MBDA), as it stats, helps in the provision of support for black business owners. This is a program that expands beyond the regular business grants for minority.
This agency also provides other forms of grants such as the Minority Business Enterprise Inner City Innovation Hub Grant, the Entrepreneurship Education Program for Formerly Incarcerated Persons Grant, and many other grants that can be quite beneficial for African American Business Owners. The Minority Business Development Agency (MBDA), has other grants that you as a business owner can check out here.
If you’ve been active on the social media scene, then SoGal should not be new to you. When it comes to grants and the interests of the minority, this program has all that in mind and ensures that the interests of the ones who are applying for this program, which are mostly African American.
The application process for the grant from SoGal black founder startup grant is one that can be completed seamlessly. The important thing is to ensure that one qualifies for the criteria of the scholarship.
The SheaMoisture $1Million Fund was effected by the well known hair care company SheaMoisture, just as the name rightly suggests. The concept behind the SheMoistere $1Million Fund. The application process considers a few things about your business plans, and your overall plans if granted the award for your business registration, development and growth.
The program is solely developed to provide progressive, and sustainable businesses owned by women of color, and others considered minorities affected by the pandemic. This program is one that every black business owner should consider applying for. This agency has other grants offered under several other programs it runs or contribute to its grant awards.
Other College Grants for African Americans
With the purpose of giving women equal chances, women’s colleges are now thriving. They cater to the interests and needs of women and they even offer generous grants.
One best example of these women’s colleges is Spelman College which is found in Atlanta. This institution is well-known for serving African American women’s best interests and education.
African American women grants and scholarships are regularly available for incoming students. Spelman College even provides opportunities to single black mothers. Morehouse College is another top source of African American women grants.
They offer grants based on athletics or academic excellence. In addition, there are other associations that extend assistance to black women like The National Black Nurses Association. They offer aid to those black women taking up four-year nursing programs.
People may not have equal opportunities and financial capacities but there are abundant sources available out there to help even the most deprived sector of the community. Big corporations like Coca-cola, Bell Labs, Xerox, also have educational grant programs.
Aside from that, there are grants allocated from federal funding sources, too. Black women grants can help alleviate the decreasing percentage of black women attaining higher education.
In effect, African American women may build their own careers and be offered more opportunities in the near future. If you are a man reading this, you may be interested in reading about how to apply for Grants for African American Males.