Small business owners often find it challenging to raise the necessary funds for expansion. One source of funding may be available through government or private grants.
Grants offer more attractive alternatives for some small businesses than loans because there’s no obligation for repayment.
National Pride Grant
The National Pride Grant is a microgrant program that supports LGBTQIA+ businesses in the US. Entrepreneurs receive $1,000 as part of this year-long business strategy and development program, providing you with an ideal way to build your business while contributing back to the community. Furthermore, you can use this grant to promote and increase the visibility of your business within its target community. There are various resources available to you when starting up a small business venture, such as workshops and mentorship; additionally, you may join an existing small business network that offers insights into growing businesses – joining one may provide helpful insight on developing their venture further!
Pride Surveys has long been dedicated to helping community coalitions secure the funds they require for their projects through grants. Unfortunately, however, such gifts can often be hard to come by with specific rules and regulations for how you must spend them – but this blog post outlines practical strategies for procuring them and maximizing their impact.
Not only is UC dedicated to local Pride Fund grants, but its long-standing partnership with Cincinnati Public Schools extends further with this generous offer: full tuition and book allowance are made available for graduates admitted into academic programs by UC who were admitted from CPS – equivalent to four years of higher education through federal and state financial aid!
LGBTQIA+ business owners tirelessly advocate for equality and inclusion – two values shared and honored by Mastercard. Through Mastercard’s Heritage of Pride Small Business Grant Program and NYC Pride, these business owners can receive funding to strengthen their communities. Three tiny businesses in New York City will each be awarded a $10,000 grant along with digital tools to enhance their online presence, virtual mentorship sessions, and virtual gifts for growth.
Ingredients for Success Entrepreneurs Initiative
Famous Amos, in partnership with the National Black Chamber of Commerce, recently launched its Ingredients for Success Entrepreneurs Initiative. The program provides aspiring entrepreneurs and business owners with funding and coaching resources. Its first cycle saw more than 2,700 applications and three winners. The winning business owners were awarded $50,000 in unrestricted capital from Famous Amos and a full suite of mentoring and coaching resources from NBCC.
This is the third year that Famous Amos and NBCC have partnered to award $150,000 in grant money to three early-stage Black businesses. The application process is open to companies that are 90 percent Black-owned, have been in business for at least a year, and are located in the United States. The company is also looking for businesses that create social and economic equity, diversity, and inclusion or close gaps in access and outcomes.
The Ingredient for Success Entrepreneurs Initiative is a unique opportunity to help small businesses grow and succeed. The grant money can be used for marketing, equipment, and other needs. It can also help a business gain credibility and improve its brand image. The application process includes a pitch video and a business plan. Applicants are asked to share their story and explain why they deserve the grant.
Applicants were selected by an expert panel, which included several leading Black entrepreneurs and experts in the business world. They were chosen based on their business plans and their ability to meet the requirements of the grant. The winning business owners were Emir Horton of Atlanta, who owns Eartha by Emir, a luxury watchmaker; Londyn Jackson, founder of The Language Arc, a learning and wellness center for children with disabilities; and Steffanie Rivers, owner of TCB Drones in Dallas, Texas, which offers drone technology services to clients.
Breakthrough Program
The Breakthrough Program is an immersive leadership and development experience designed by Egon Zehnder and Mobius Executive Leadership to enable personal exploration and transformation. As an intensive year-long leadership and development program, this experience offers ample time for self-discovery and transformation. As leaders spend most of their careers honing technical capabilities rather than cultivating personal change or leadership capabilities, The Breakthrough Program presents an unprecedented opportunity for transformation.
This program is founded on the belief that students thrive best when provided with an environment that is stimulating, relevant, and engaging – it has proven successful for children from diverse backgrounds with different abilities and learning styles. We aim to ensure equal access to high-quality educational experiences that equip children with skills needed for future success in college and beyond.
Breakthrough operates a national network of education sites in small to mid-sized urban communities across the US. Each of these is supervised by the Breakthrough Collaborative, which monitors their performance. Every site operates via public-private partnerships or has its own 501(c)3 status as an independent organization, while Breakthrough programs provide students and teachers a sense of purpose, community, and belonging. They encourage students to explore their interests and passions while offering them a rigorous academic curriculum with classes spanning core academic subjects such as astronomy and African-American literature – tuition-free with a maximum student-to-teacher ratio of seven-one.
Breakthrough aims to foster a college-going culture in Central Texas and enable low-income students to be the first in their families to obtain a degree. To accomplish this mission, Breakthrough mentors and tutors students throughout middle and high school years, provide guidance when selecting colleges, supports these decisions when registering, and strives to help ensure completion of degrees earned.
Siete Juntos Fund
The Garza family stands firmly by their belief that “juntos es mejor,” or working together, is better, and have created a $200,000 fund to assist majority Latina-owned food trucks, bakeries, and eateries across the United States that face difficulty securing venture capital and loans from banks compared with non-Latino competitors. Last year, Dallas gourmet chocolatier CocoAndre was honored as its inaugural recipient.
The Siete Juntos Fund application period runs through Oct. 19. The winner will receive a $50,000 award for legitimate business expenses such as paying employees and buying inventory. Applicants must own or operate a business with at least 50 percent Latino ownership; be a sole proprietorship, partnership, or corporation and legally operating within the US; comply with existing rules regarding organizations; be organized and functioning to conduct business activity legally – failure to meet these criteria will lead to disqualification.
Siete tortilla brand was launched by Veronica and Miguel Garza in 2013, becoming one of the few companies offering grain-free products that compete with industry giants such as Frito-Lay and General Mills. Family owned and run; their business operates with Veronica serving as President/CIO; her mother handles purchasing, while four siblings work various roles for the company. They use their success to assist other minority-owned businesses by offering grants to alleviate barriers when seeking investment capital from financial institutions.
Founders First
Founders First is reinventing the venture capital model, offering growth funding and advisory support to entrepreneurs in underserved communities. They aim to enable more diverse-led businesses to thrive and create high-wage jobs; services provided include business expansion grants, mentoring support, and access to investors, as well as an accelerator program designed to develop revenue-generating capabilities of companies. Various organizations, including Black Enterprise Magazine and CxO Magazine, have recognized their work.
Founded in 2015, Founders First is dedicated to helping disadvantaged entrepreneurs build successful, large-scale enterprises. It provides mentoring and business acceleration services to small business owners in underserved communities throughout the US, while its accelerator programs assist small companies with creating recurring revenues and technology-enabled solutions that provide essential customer solutions while simultaneously honing leadership and management capabilities.
Kim Folsom created Founders First after becoming aware of a lack of financing options available to women, people of color, veterans, and LGBTQIA+ entrepreneurs. Her experience as an entrepreneur and investor gives her unique insight into the struggle underrepresented people have in securing the funding they require for success.
Change Catalyst Fund, launched by Founders First and supported by The Rockefeller Foundation and Surdna Foundation, offers flexible growth capital loans to small businesses led by diverse founders. It is targeted toward helping companies that prioritize inclusive hiring practices with low to moderate incomes; typical applicants for loans include businesses that generate between $500,000 to $5 Million annual revenue with the potential to expand to $10 Million within five years. It will launch officially in 2022.
