Did you know that Black entrepreneurs, especially women, have been starting businesses at a higher rate than the rest of the population in recent years? With COVID-19 devasting small businesses, many businesses owned by black women may not recover without the assistance of grant funding.
The average small business requires about $10,000 of startup capital in order to get off the ground. With this in mind, Visa launched a grant program to help these businesses recover and grow. In an effort to specifically support Black women-owned small businesses, Visa is offering Ten $10,000 grants to Black women in the U.S. to help them run and grow their businesses. In addition to the grant, recipients will get business coaching, access to educational resources, and a series of on-demand videos. These resources are designed to help women-led small businesses sharpen their business pitches and content.
The Visa Grant Program Criteria
• The business must be a black women-owned business
• Must be located in the U.S.
• Must have a minimum annual revenue of $24K or more
• Must have been in business for 2+ years
• Must be a business that has a product or service in the market and generating revenue
• Must be a growing business
• Must be a consumer product or service – business to consumer (B2C)
• Must have a compelling digital presence and supporting media
Grants for businesswomen
Women of all racial and cultural backgrounds can find other grant funding opportunities for their business by logging on to the business category on GrantWatch.com.
Here is a list of grants for women owned businesses:
- Grants to USA, Canada, and International eligible entrepreneurs for support in the wake of the Coronavirus (COVID-19) health crisis. Funding is intended to enable minority fashion designers to expand their business.
- Grants of up to $1,000 and grants of up to $2,500 to Georgia small businesses in eligible areas to alleviate the disproportionate impact of the Coronavirus (COVID-19) on Black business owners.
- Opportunity for USA start-up companies and individuals to participate in a 16-week business accelerator program.
- Grants to Pennsylvania small businesses in eligible counties to mitigate financial losses incurred due to the Coronavirus (COVID-19) pandemic.
- Grants of $10,000 to Texas, Georgia, New York, California, and Minnesota small businesses owned by Black individuals in eligible cities for assistance in the wake of the Coronavirus (COVID-19) and social justice crises.
- Grants of up to $5,000 to Iowa businesses in eligible locations to mitigate financial losses incurred due to the Coronavirus (COVID-19) pandemic.