Are you a black business owner who’s struggling to make ends meet in this pandemic? Are you aware of the best relief financial packages that you qualify for? You may have a thousand and one questions as to how to go about finding the right grants for your business, and that’s why we’re here.
There are a number of questions you need to ask yourself about what you are hoping to accomplish for your business. As a black business owner, you surely already deal with the challenges of running a business in these interesting times! However, we are here to help you make the process a seamless one in any way we can help.
The different challenges that an African American establishment goes through may be quite different compared to several others in the same niche. According to National Geographic, more than half of black-owned businesses may not survive this pandemic. This is definitely a huge impact on everything that the black business experience hopes for. However, we have put together a number of ways you can overcome the challenges and soar in these unpredictable times.
If you are feeling downcase and overwhelmed, we’ll help you scale through by providing you helpful tips and resources that can definitely help you make a positive change in the direction of your business. Do not fret, our team at African American Grants has done extensive researched to find the best and most popular essential oil brands with extensive information on how you can access grants for black business owners on our platform.
In this guide, we have taken our time to outline what types of grants for African American businesses that you are able to easily access without any hassles whatsoever. We understand that these are trying times, and whatever help and guidance you can get to help you on your business journey is definitely one that’s worth a try.
Grants for Black Business Owners (2020 Updated)
Table of Content
1. Hello Alice Business Grants for Minorities
Hello, Alice is a well-positioned website that caters to the promotion and disbursement of grants for historically underserved communities and businesses that are struggling or have taken a hit as a result of the pandemic.
Hello Alice provides funding for these businesses up to $10,000 and up to $50, 000 for long-term business growth. If you are a small business that has been impacted by the pandemic, this grant is one you should definitely look into applying for.
Application Criteria
To apply for the Hello Alice grant, you would have to register on their website, providing personal and business information. with an explanation of how your business has been impacted by the pandemic. This process takes less than 10 minutes to complete.
Grant Price Range
The grants award from Hello Alice range from $10,000 for small businesses, all the way to $50,000 for long term business sustenance and growth. You can also apply for both grants if your business situation meets the criteria set for applying for both grants.
Duration of Application
The application process from start to finish should not take you more than 10 minutes. It is a simple application where you are asked to provide information about you and your business.
The application covers major areas of what your business represents and you may be required to fill out how the grant may help boost your business if awarded. The same applies to the other awards listed below.
2. The Annual FedEx Small Business Grants
The FedEx Small Business annual grant contest is one grant that you should pay attention to., This is a comprehensive grant award that takes virtually little to no time to apply for. The awards were created to help boost minority businesses so they can access funding for their businesses. The grant award financial help to businesses that are struggling to help them take care of the essential things that they need for their business.
Application Criteria
The FedEx Small Business Grant does not take too much time, and this is an application that you can indeed get to finish within a couple of minutes of your time before you head out to take care of business. What I have particularly found to be quite helpful — is to ensure you have all the details that you may need if it ever gets to that point.
Grant Price Range
The grant price ranges from $5,000 all the way up to $50,000. All of this depends on what project or business plans you bring forward. Be that as it may, this program also goes above and beyond to keep it going to ensure that those who arranged this program, and understand when they are able to access the funds in their bank accounts.
Duration of Application
The duration of the grant is annual. The program typically restarts every year. You are also allowed to reapply every year if you did not qualify for any reason, whatsoever. you may still proceed with your application.
3. New Voice Funds for Minorities
This program is one that is specifically geared towards small businesses. If you are thinking of starting one, you sure can apply for the New Voice Funds to help with the funding that your business requires to take off.
New Voices funds definitely captivate the essence of what they represent by how they make the application available too.
Application Criteria
The New Voice Funds application does not require too much in terms of criteria. If you meet the requirements for eligibility, apply as soon as you can, as this is strictly on a first-come basis.
Grant Price Range
The grant price range depends on your needs, and how well you are able to convince the agency in charge of the importance of your project. Bear in mind that the application process involves you giving detailed information about your plans, and what you hope to do if given the grant.
Duration of Application
The application process lasts for at least 12 months. This process can also be renewed annually. What is particularly helpful about this grant is the fact that it gives you the opportunity to present your case in a clear and concise manner to help you achieve your objectives.
4. Grants for Small Business from the NASE
This is yet another great small business grant from the National Association of the Self Employed. This is a very detailed business grant for diverse business individuals, from small to mid-size businesses, and it extends to those who are planning to go into one.
Application Criteria
The application requirements are very well outlined online. What you need to do is to assess your business needs to ensure that it meets the stipulated rules and terms for applying for these available grants.
Grant Price Range
The award monetary value for this grant is $4,000 which could do considerable much for a young business owner who is trying to start something themselves.
Duration of Application
The timeline for application received depends largely on the different programs and other plans they had running as at when they starting running this award. With the simple interface that they use for application receipt. This is definitely one business award-granting institution to give a try if you would like some funding for your business.
5. Rural Business Developmental Grants
The rural business development grants are geared towards supporting programs that are community-oriented. This award specifically offers some great options for minorities looking to help fund their business or ideas. This program offers the amount between $10,000 and $500,000.
More importantly, the process is quite explained in the different paper work you are provided with as soon as you indicate interest. , This is indeed one program to apply for.
Application Criteria
The application criteria I one that may use the different funding you have received in the past, your business assets, and other relevant factors to decide what way to go with the business grant toward financial security.
The Price Range
The price range for this business grant is one that can help you at least give your business the necessary financial backing to keep things progressing. So if you’re a small business, this is one to come to take.
Duration
The duration of this application would not be complete without you ensuring you have all your previous papers that show the need for what you are hoping to get full funding for.
Conclusion
Now you have it! Our complete list of the grants for black business owners that you can definitely apply for to help boost your business in these times.
The best grants to go for are grants that work for your business. You think of the grant award, the criteria, and other factors that go into the grant that these agencies and businesses are offering to sell.
It is our hope that you would take full advantage of these programs today, and get the much-desired funding for your business, today!
Do you have other forms of funding for black businesses? Share with us in the comment section!
