Business Grants for Women & Minorities
Women and minorities have many options for receiving non-profit and/or private grants that provide opportunities for small businesses. The federal government does not award business grants to women-owned or minority-owned businesses; however, it does provide loan assistance programs. According to Business.gov, U.S. grants are only available to non-profits and educational institutions in the following areas: medicine, education, scientific research and technology development.
Federal Grants
Grants.gov provides a searchable database of grants that are available in the fields of medicine, education, scientific research and technology development.
Business Loans
The government provides 12 programs for loan assistance to women and minority-owned businesses at the federal level, and in the following states: California, Delaware, Illinois, Iowa, Massachusetts, Mississippi, New Jersey, New Mexico, New York and Wisconsin. Visit Business.gov to see if you qualify for one of these business loans.
Non-Profit/Private Grants
There are countless non-profit and private foundations that offer grants to women and minorities. Fundsnetservices.com and WomanOwned.com offer comprehensive lists of available programs and application deadlines.
Private Loans
Ask your financial institution about private loans, or shop around to see which banks in the area participate in the United States Small Business Administration (SBA) loan process.
Scams
The internet is filled with scams claiming that women and minorities can get "free money" from the government for businesses; never pay money to companies promising grants from the government to start a business.
Tags: Business Grants Women, businesses federal, education scientific, education scientific research, from government, grants that
