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Loans to USA Minority-Owned Businesses to Mitigate
COVID-19 and Losses Related to Social Unrest

Agency Type:

Foundation / Corporation

Funding Source:

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BWC Capital - BWC Economic Development Infrastructure Fund (EDIF)

Deadline Date:



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Loans to USA minority-owned businesses negatively affected by the Coronavirus (COVID-19) pandemic and/or the racially fueled social unrest across the nation. Funding is intended to support small businesses in communities of color to succeed and grow, providing further employment opportunities within the communities.

This program is established to help businesses of color that have been:

  • Forced to temporarily close or reduce business activity due to the COVID-19 pandemic and/or
  • Physically damaged or suffered stagnant business operations due to the economic harm caused by the civil unrest across the country amid continued racial inequity.

Priority focus:

  • Black-owned and led established businesses with a focus on small and emerging businesses
  • Growth-oriented businesses with potential to create more jobs/employment opportunities for communities of color
  • Select focus on start-ups that offer value-add product(s) and/or service(s) that addresses pain points and better serve communities of color
  • Geographic focus: Secondary cities and towns and urban centers with critical mass communities of color

Unlike most bank loans or grants, the BWC+invest is a patient capital program where BWC Capital will make a financial investment in businesses of color with no expectation of immediate repayment, to give the enterprise time to stabilize hence the three years of patient capital.

GrantWatch ID#:

GrantWatch ID#: 190610

Estimated Size of Grant:

Minimum of $10,000

Term of Contract:

Loans will have a 3-year repayment period.

Additional Eligibility Criteria:

The program is designed to provide a loan to businesses of color with at least one year of operation, more than two full-time equivalent (FTEs) employees and an established track record for producing enough cash flow to support loan repayment within a three-year period or to meet the requirements of the up to 50% loan forgiveness guidelines.

Pre-Application Information:

Submission deadline: 07/01/2020

Completed applications will be reviewed within 24 – 72 hours after submission and provided an approval or disapproval status within one week.

Loan Repayment Terms:
- Investments are considered as patient capital (or long-term capital where BWC is willing to make a financial investment in a business with no expectation of turning a profit.)
- 0% interest for initial 3 years
- Investment repayment by the end of Year 3
- Up to 50% forgiveness of initial funding amount earned with performance through conversion to convertible equity feature
- Ability to extend principal repayment option with low-interest rate modification in year three should more time be needed.
- Any principal that is repaid will be reinvested in the fund to continue access to alternative capital in communities of color.

Contact Information:

Before starting your grant application, please review the funding source's website listed below for updates/changes/addendums/conferences/LOIs.

Apply online:

BWC Capital
PO Box 5183
Greensboro, NC 27435

Phone: 336.691.5786

URL for Full Text (RFP):

Geographic Focus:

USA: Alabama;   Alaska;   Arizona;   Arkansas;   California;   Colorado;   Connecticut;   Delaware;   Florida;   Georgia;   Hawaii;   Idaho;   Illinois;   Indiana;   Iowa;   Kansas;   Kentucky;   Louisiana;   Maine;   Maryland;   Massachusetts;   Michigan;   Minnesota;   Mississippi;   Missouri;   Montana;   Nebraska;   Nevada;   New Hampshire;   New Jersey;   New Mexico;   New York City;   New York;   North Carolina;   North Dakota;   Ohio;   Oklahoma;   Oregon;   Pennsylvania;   Rhode Island;   South Carolina;   South Dakota;   Tennessee;   Texas;   Utah;   Vermont;   Virginia;   Washington, DC;   Washington;   West Virginia;   Wisconsin;   Wyoming

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