Hispanic-owned businesses in the United States are gaining massive traction in recent times. They are the fastest-growing proportion of the population among small and medium enterprises in the United States, as well as the fastest-growing economic section.

This is largely attributable to their strong adventurous mindset, which is seeing them add billions of dollars to the US economy each year. Claritas, a Hispanic-owned business accounts for 14% of the approximately 33 million firms in the country. To put this in perspective, there are approximately 4.65 million Hispanic-owned enterprises.

What is a Hispanic Owned Business?

A Hispanic-owned small business is a for-profit venture operated and managed by one or more Hispanic people. According to the United States Census Bureau, a Hispanic or Latino person is “an individual of Cuban, Mexican, Puerto Rican, South or Central American, or other Spanish culture or origin, irrespective of race.”

Hispanic-owned businesses are growing faster compared to many others, with Latina-owned businesses representing the fastest-growing portion of women-owned businesses.

As per data from the Stanford Latino Entrepreneurship Initiative, Latinx business owners accounted for over 50% of new small enterprise expansion in the past decade. However, to guarantee that this momentum will continue, Hispanic and Latinx business owners will need to have broader access to funding.

The government (and private organizations) offer numerous small business grants and loans to assist Hispanics as well as other minority entrepreneurs to boost their businesses. The grants listed below are the best for Hispanic female business owners.

Best Grants for Hispanic Female Business Owners

  1. National Association For The Self-Employed (NASE)

Although not limited to Hispanic business owners, the National Association for the Self-Employed provides close to $4,000 in strategic planning grants to its participants.

Small corporations have gotten approximately $1,000,000 in financial support through the NASE Growth Grant, which can be utilized for sales promotion, branding, recruiting staff, advancing infrastructure, and any other individual business demands.

Eligibility Requirements

To qualify, you would have to first:

  • Be a registered member for at least three months (annual members can apply immediately).
  • Clearly show a company need that the grant could meet.
  • Describe how you intend to use the grant funds.
  • Demonstrate how the grant will indeed help you grow your business.
  • Include any supporting documents, including a business plan or curriculum vitae.
How to Apply

To apply, first ensure you satisfy the aforementioned criteria, and then visit www.nase.org/grants to fill out the necessary forms.

  1. Comcast Rise

Comcast RISE is working to assist smaller companies, particularly those operated and led by women and minorities, who have been financially affected by the global epidemic.

Remember that, in addition to financial schemes, beneficiaries may receive counseling sessions with Comcast’s local Effectv advertising and investigation workgroups, publicity campaign assistance, the creation of a 30-second TV commercial, or a technology facelift.

Eligibility Requirements
  • At least 51% of the business is owned and managed by a woman or an individual of color, such as Black, Indigenous, Asian American, and Hispanic entrepreneurs.
  • Owned and controlled autonomously.
  • Registered in the United States
  • It has been in operation for over a year.
  • Situated within the Comcast or Effectv service area.
How to Apply

To check if you qualify and also apply for the RISE grant, note that you will have to visit the Comcast RISE website.

  1. First Women Grant Program

Jane Walker and IFundWomen finance 30 women-owned enterprises as a core component of the First Women initiative. Every winner will be awarded a $10,000 grant as well as a one-year member status in IFundWomen.

Eligibility Requirements

Enterprises must meet the following requirements to be able to qualify:

  • Annual earnings must be at least $25,000.
  • You must be currently operational for at least two years.
  • A self-identified female business owner has to own at least 50% of the company.
  • You should be working in the entertainment and film industries, music, journalism, sports, STEM, and hospitality.
How to Apply

If you intend to apply, ensure you visit the grant page and provide all necessary details.

  1. The Entrepreneurial Spirit Fund By Sia Scotch

Carin Luna-Ostaseski is among the first Hispanic business owners to establish a blended scotch brand. She started SIA Scotch on Kickstarter.com in 2012. In striving to keep up with the brand’s idea of inspiring businesses, SIA Scotch has committed $110,000 to assist business owners of color in the food and beverage industry.

Eligibility Requirements
  • Person(s) of color own 51% or more of the company.
  • Be a for-profit company with annual gross revenue of less than $5 million.
  • Operating and/or conducting business in at least one of the following states: California, Colorado, Connecticut, Florida, Georgia, Illinois, Massachusetts, Minnesota, New Jersey, Nevada, New York, Rhode Island, and/or Texas.
  • You must not a holder of any alcohol beverage retail permit (including a bar, eatery, hotel, or establishment that sells or provides alcohol) or a business that manufactures alcohol.
  • Expected to be a US citizen or legal permanent resident.
  • Expected to be at least 25 years old as of November 1, 2023.
  • Be the majority shareholder or a person legitimately permitted to legate the Business for the tasks of Program participation.
  • Should not have control in or be made an investment in an alcohol beverage retail licensee (including a business or establishment which possesses a license to make, sell or serve alcohol).
  • Should not work for a retail license holder.
How to Apply

Note that to apply, you will have to visit the grant page and provide all stipulated information.

  1. Stacy’s Rise Project

The Stacy’s Rise Project, in collaboration with Hello Alice, will provide $10,000 in financial support to ten women-founded smaller companies, as well as guidance from PepsiCo and FritoLay executives.

Eligibility Requirements

Businesses can meet the following requirements to be able to qualify:

  • Annualized sales should be around $25,000 and $1,000,000.
  • Be established by at least 50% of women.
  • Take part in the virtual Mentoring program.
  • At the time of application, you must not be a member of an accelerator program.
How to Apply

To apply, visit Hello Alice page and follow the guidelines noted there.

  1. Tiger Global Impact Ventures’ Accelerate (HER) fund

It should be noted that this award provides funding of up to $50,000 to women business owners who are developing breakthrough technologies or businesses that use technology. These business owners should have indicated the need for financial support as well as a strategy for progressing to the next phase of evolution.

Eligibility Requirements

To be able to qualify, a company must:

  • Create a for-profit technology or technology-enabled business.
  • Be majority-owned and managed by women (51 %+).
  • Have not obtained financial support from angels or venture capitalists (yet).
How to Apply

Visit https://helloalice.com/grants/tiger-global to apply.

  1. Hispanic Business Program of the PepsiCo Foundation

The PepsiCo Foundation will award $10,000 in financial support to 150 Hispanic-owned food and beverage enterprises in collaboration with Allies for Community Business, Accion Opportunity Fund, Ascendus, DreamSpring, and LiftFund.

Eligibility Requirements

Businesses will need to meet the following requirements to be eligible:

  • Be owned by Hispanics.
  • In 2023, the revenue of $1 million or less was garnered.
  • It is situated in New York City.
  • Have no more than three locations.
How to Apply

Visit their page to fill in the necessary details.

  1. UPS Small Business Grant for Latinx-Owned Companies

UPS is collaborating with the US Hispanic Chamber of Commerce to provide $5,000 in small business grants to Latinx-owned smaller companies adversely affected by Covid-19.

Eligibility Requirements

Businesses must meet the following requirements to be able to qualify:

  • Be owned by Hispanics.
  • Have fewer than 20 full-time staff.
  • You must have an EIN or ITIN number.
  • Must have been operational for at least nine months.
How to Apply

You will have to go to their page if you are looking to apply for this grant.

  1. Amber Grant

The Amber Grants program, backed by WomensNet since 1998, awards a $2,000 monthly grant and a $25,000 yearly award to women business owners in memory of Amber Wigdahl, who passed away at the age of 19 prior to actually realizing her entrepreneurial dreams.

Eligibility Requirements

To qualify for an award, you must:

  • Describes your company.
  • Describes what you’ll do if you were awarded a $2,000 monthly grant or a $25,000 yearly grant.
  • When uploading the form, you should first stump up a $15 application fee. Monthly grant applications must be submitted by the end of each calendar month.
How to Apply

Visit the Amber Grant webpage if you intend to apply for this grant.