15 grant programs boosting black-owned businesses

Author: ASBN Newsroom

A growing number of organizations are stepping up to support Black entrepreneurs with grant programs ranging from $500 to $1 million. These programs go beyond financial aid, offering mentorship, marketing support, AI integration tools, and networking opportunities to help businesses grow and scale.

According to the Pew Research Center, black-owned businesses represented only 3% of U.S. employer firms in 2022. While funding remains a challenge, grants can provide a crucial boost. 

If you’re looking for funding and resources, here are 15 grant programs worth exploring:

1. Wish Local Empowerment Program

• Grants: $500 – $2,000
• Eligibility: Black-owned brick-and-mortar stores in the U.S. with revenue under $1 million and 20 or fewer employees
• Entry Fee: None

2. NAACP Powershift Entrepreneur Grant

• Grants: $25,000 (previous recipients)
• Provides additional business resources and mentorship
• 2025 application details expected in October

3. Black Ambition

• Grants: $15,000 – $1 million
• Supports Black and Hispanic entrepreneurs
• Past awards: Up to 250 grants in 2024

4. 1 Million Black Businesses (1MBB) Initiative

• Free business education, mentorship, and networking
• Goal: Help 1 million Black businesses start and scale by 2030

5. National Black Business Pitch (NBBP)

• Cash prizes up to $10,000
• Connects Black-owned businesses with major corporations

6. Lenovo Evolve Small Grant

• Grants: $25,000 + AI mentorship and tech support
• Eligibility: Minority-owned businesses in select metro areas

7. HerRise MicroGrant

• Grants: $1,000 monthly for women of color entrepreneurs
• Entry Fee: $15

8. Galaxy Grant Giveaway

• Grants: $2,450 for women and minority business owners
• Entry Fee: None

9. Amazon Black Business Accelerator

• Grants and incentives for Black-owned e-commerce businesses
• Includes $500 enrollment credit, advertising support, and mentorship

10. Hustler’s MicroGrant

• Grants: $1,000 for entrepreneurs with growth potential
• Entry Fee: $15

11. Start.Pivot.Grow.

• Grants: $2,500 quarterly
• Covers business expenses like rent, marketing, and software

12. Amber Grants

• Grants: $10,000 monthly, $75,000 annually
• Eligibility: 50%+ women-owned businesses in the U.S. or Canada
• Entry Fee: $15

13. EmpowHER Grants

• Grants: Up to $25,000 for women-led businesses making a social impact
• Includes mentorship and business development support

14. The UPS Store Small Biz Challenge

• Grants: Share of $35,000 + mentorship and media exposure
• Live competition event in Austin, Texas

15. Local Community Redevelopment Agency (CRA) Grants

• Small business microgrants up to $35,000
• Available in some cities to revitalize underserved communities

With many grants requiring no entry fees and offering valuable resources, Black business owners can leverage these opportunities to fuel their growth. Be sure to check eligibility criteria and deadlines to maximize your chances of securing funding.

Small Business Grants, Articles