How to Apply Free Startup Grants For Minority Small Business Owners
Are you seeking to start your independent venture but impeded in your progress due to shortfall of capital? If it’s a minority small business there’s good news for your! You have financing opportunities for your start-up that helps you realize your dreams of entrepreneurship.
Minority small business owners seeking for grant and monetary assistance have myriad options to avail for the commencement, growth and development of their businesses. The federal, state, recognized agencies and renowned organizations furnish grant programs to minorities for a successful and flourishing venture. Apply and get your grants.
List of Best Grant Options that Minority Small Business Owners Can Apply
Minority small business owners have countless grant options to avail for their startup venture. Here’s a list of grant sources for minority business owners.
The Small Business Administration
The SBA administers many business grant programs ensuring minority-owned small businesses have access to technical resources, contract opportunities, adequate capital, marketing opportunity, human resources, development scope and proper business channels. Moreover, it offers prospects for attaining bigger contracts. SBA grant programs include:
• SBA’s 8(a) Business Development program
• HubZone Program
• Surety Bond Guaranty Program
• Small Business Investment Company (SBIC) Program
• SBA-backed 7(a) loans
The Small Business Innovation Research Program
SBIR encourages small businesses to partake in Federal Research/Research and Development (R/R&D) having commercialization prospective. Established in 1982 by Congress, SBIR helps economically constrained small businesses to explore in the field of technological innovation and scientific excellence for which it funds a generous amount ----for Phase One up to $100,000 and for Phase Two up to $750,000.
Amber Foundation Grant
Amber Foundation was launched in 1998 in memory of a 19-year-old girl who died without realizing her dreams. The foundation helps to accomplish the entrepreneurial dreams of financially depressed women or minority women seeking to start their small business. Grant amount from $500 to $1,500 are awarded to meet the start up costs and other supplementary expenses.
The Minority Business Development Agency (MBDA)
MBDA, an agency in the United States Department of Commerce, commits to support minority owned businesses by offering business consulting services and providing assistance with capital, contracts and marketing opportunities. This aids in the growth and competitiveness of the businesses.
The Minority Business Development Agency (MBDA) agency is a part of the U.S. Department of Commerce that helps firms with minority business owners in getting contracts, raising capital, access to markets and other strategic consulting services related to their business. The agency interfaces directly with the managers and the business owners at the local level. MBCs help owners with funding package, providing response to grant proposal and applying for SBA loan or obtaining capital funding from a lender.
This is a multinational pulp and paper manufacturer that funds for plans and proposals of small businesses. Presently thirty-five states support this grant program that sponsor for businesses engaged in the development of Georgia-Pacific communities and advancement of education, community improvement, entrepreneurship and the environment.
There are many other grant programs for minority small businesses. Besides federal and private grants, even states offer assistance to minority-owned small businesses through its specific grant programs and proposals. Find your opportunities and the best resources available and start applying now.
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