Entrepreneurs of color are a powerful force for positive change. They drive economic development forward, especially in overlooked or underfunded communities. They create jobs and build wealth. Yet, for all that they do as a primary economic engine across the country, entrepreneurs of color often struggle. Many times, their businesses are less likely to have cash reserves or access to credit.
Start-Up funding in the U.S. for black entrepreneurs has historically been disproportionately low. The availability of funding opportunities for Latinx entrepreneurs is even more sparse. During the recent economic downturn, funding for entrepreneurs of color has seen an even steeper decline. Fortunately, many funders have responded by creating grant programs to address these inequalities. GrantWatch lists many grant opportunities specifically to support entrepreneurs who might not fit the demographic mold usually favored by venture capitalists.
Currently, black founders receive roughly 3% of VC funding. In 2022, $100 million was invested in Black-founded U.S. startups at the seed stage, $591 million at the early stage and around $876 million at the later stage for 100 startups.
Every day, new funders are entering the marketplace. As a result, entrepreneurs of color are beginning to see more funding opportunities available for their businesses.
GrantWatch.com is the grant listing directory where you can find the most up-to-date start-up funding opportunities for entrepreneurs of color. Below are ten of the latest grants currently accepting applications from entrepreneurs of color and other underserved minorities.
10 Grant Funding Opportunities for Entrepreneurs of Color
- Prizes and in-kind support are available to Black and Latinx entrepreneurs to support business ventures.
- Opportunities are also available for Latina-owned businesses to participate in a professional development program.
- Black business owners should apply for In-kind grants and the opportunity to participate in a business accelerator program.
- Grants are now available to BIPOC-owned small businesses for capacity-building initiatives.
- There are grants of up to $10,000 and in-kind support available to Black women entrepreneurs to support equal opportunities in business.
- Grants of up to $5,000 to tribal business owners who have been financially impacted by the Coronavirus (COVID-19) pandemic.
- Grants of $2,500 are offered to entrepreneurs to support recovery after a natural disaster.
- Entrepreneurs can apply for grants of $2,500 and in-kind services to start or expand their businesses.
- Students can also apply for a grant award of $2,500 for educational expenses to pursue entrepreneurial aspirations.
- Opportunity for entrepreneurs and small business owners to participate in a professional development program to gain valuable resources, connections and skills.
Looking for more funding opportunities?
You can find more grants for the BIPOC (Black, Indigenous and People of Color) community at GrantWatch. However, it’s important to remember not to limit your options. There are also many grants available to entrepreneurs, startups, women, small businesses, and more!
With close to 8,000 grants listed, GrantWatch.com is the leading grant listing directory. Upgrade to a MemberPlus+ account to view full grant details, including eligibility criteria and application information. For more information, you can also visit the GrantWatch FAQ page.