Best Grants for African American Women – Are you looking for grants for black African American women? Look no further; in today’s article, we will be discussing the best grants for African American women. Research has revealed that African American women manage about 2.7 million businesses in the United States. They are the most creative career and innovative women in the USA. From fashion and beauty to technology and education, black African American women have left an indelible mark on every industry. They have the highest average education level.
However, despite their various achievements, they’ve encountered several obstacles, the most significant of which is the absence of financial assistance. They believe having access to money is essential to expanding their business, but only 19% have been granted capital. This is where grants come into play.
Grant applications can help black African American women grow their businesses. But you need to know which grants to apply for. As a result, this article will inform you of the seven best grants for black African American women to apply for.
Where can I find Grants for African American Women?
When seeking grants, one of the best places to check is your local government office or community action agency. The local government office includes the Department of Social and Human Services.
In addition, you can search for local community action agencies in your location that serve African Americans, middle-income families, and other groups.
How to Apply for African American Women’s Grants
Applying for African American women’s grants can be difficult and time-consuming for a novice. However, here are some pointers to help you find and apply for African American women’s grants without too much difficulty:
- Determine the type of grant you require.
- Research it before starting your application.
- Also, make sure you meet the minimum qualifications.
- Prepare all the necessary application documents.
- Lastly, apply early for grants to get approved on time.
Best Grants for African American Women
In this part of the article, we will be discussing the top 5 best grants for African American women. Check out the best grant for you using the below guide:
- AT and the Black Future Maker
- FedEx Small Business Grant Contest
- HerRise MicroGrant
- Capital One Business Program
- The SoGal Black Founder Startup Grant
AT and the Black Future Maker
This is one of the most reputable organizations that provide grants to black African American women. The company desires to honor the narratives of African American women who are shaping the world. In addition, the company is looking for individuals with forward-thinking attitudes and a desire to help others.
Once you apply for this grant, you will be eligible for a $10,000 cash prize, an AT&T device with 5G connectivity, and a Black Future Maker feature on the Dream in the Black website. . Note: The Company selects winners every month through the end of the year.
FedEx Small Business Grant Contest
Another company that offers black African American women loans is FedEx. This program was first established in 2012 to help expand small businesses. Since its inception, the company has awarded over $1.5 million in cash and prizes to more than 100 small businesses through this competition.
To be eligible for this program, your business must be for-profit and have been in continuous operation for at least six months. Also, you need to have 99 employees and a FedEx account number. Note: This grant is not limited to black African American women; you can also apply for this grant if you have a small business.
HerRise MicroGrant
This is yet another excellent source of free small business grants for African American women. Every month, a $500 prize is awarded to minority women-owned small businesses.
In addition, the company works with a number of corporations, charities, and other funders to provide financial assistance to women. The grants must be spent on various purchases, such as laptop computers, marketing materials, and equipment.
Capital One Business Program
Capital One, in collaboration with the Association for Enterprise Opportunity, started this program in 2022 to support African American women who are entrepreneurs. Also, they offer $10,000 grants to businesses affected by the epidemic. It is one of the best grants for African American women that can be accessed for free. However, grant applicants come in waves.
Also, you get free resources from Capital One’s Business Hub. These resources are networking opportunities, practical guidance from successful business owners, and monetary rewards.
The SoGal Black Founder Startup Grant
This company also offers small business grants to African American women. It was established by the SoGal Foundation in collaboration with several other sponsors. They provide cash grants ranging from $5,000 to $10,000 to black women who are starting their own businesses.
In addition, the recipients will have lifetime access to the SoGal Foundation and SoGal Ventures team members. The grant recipient receives assistance in locating additional financial opportunities to expand their businesses. Finally, they provide grants on an ongoing basis.