$400,000 in Grants Available to Minority- and Women-Owned Businesses

Small business grant programs come in many forms. Some local governments and organizations provide direct funds to businesses. And others may offer grant funds to support specific programs that provide training or assistance. Several programs in both of these categories are currently accepting applications. Read about the opportunities below.

Frederick Small Business Grants

Frederick, Maryland is unveiling a new grant program to support minority and women-owned small businesses in the city. Grant funds are available to both startup and established businesses, with a total of $400,000 available. To qualify, businesses must be registered, for-profit, and have no more than 25 full-time employees. Additionally, businesses must request funds for a clearly-defined project, like completing renovations or launching new marketing campaigns. Eligible businesses can request up to $40,000 in funds.

York County 2024 BLOOM Grant Program

York County, Pennsylvania recently opened the application period for its 2024 BLOOM Grant Program. The BLOOM Business Empowerment Center and the York County Economic Alliance will award grants of between $500 and $1,500. Businesses must request funds to be used for a specific purpose, like making physical improvements to their location or creating new employee training programts. August 27 is the final date to apply.

Central UP Hub Direct Grant Program

The Central Upper Peninsula Small Business Support Hub (known locally as “the Hub”) is launching a new grant program for small businesses in Michigan’s Upper Penninsula. The Hub officially launched last year using grant funds from the state, officially serving seven U.P. counties, including Alger, Baraga, Delta, Dickinson, Marquette, Menominee, and Schoolcraft. The new Hub Direct Grant Program includes more than $400,000 in total funds, which will be provided as direct grants to businesses that use the Hub’s services. To qualify, businesses must have less than 500 employees, be located within the Hub’s service area, and go through an intake process. The program is expected to run through 2026.

SBA Native American-Owned Business Grants

The U.S. Small Business administration recently announced a new grant opportunity that aims to help Native American-owned small businesses. The organization is currently offering multiple grants to organizations located on or near Tribal lands that support Native American-owned businesses with development or expansion opportunities. Each organization can apply for grants of up to $240,000. The deadline for organizations to apply for funding is July 31.

TD Ready Challenge Grant Program

TD Bank Group is now accepting applications for its annual TD Ready Challenge grant program. The program provides funding to charitable and non-profit organizations that support underserved small business owners. The bank is providing a total of ten grants to organizations throughout the U.S. and Canada, with a focus on those that plan to provide innovative solutions for underserved businesses, especially those in industries that are still struggling post-pandemic. The organization will accept applications now through September 5.

Hello Alice Boost Camps

Popular fintech platform Hello Alice, which hosts many small business grant opportunities with partner businesses and organizations, is now expanding its small business accelerators and Boost Camp programs for 2024. Boost Camps offer both skill-building programs and grant opportunities for small business owners across the U.S. Hello Alice has already partnered with many major corporations as part of this program, including Progressive, Etsy, Wells Fargo, and FedEx. Programs also aim to provide training and resources to help businesses accelerate their own growth.

This article, "$400,000 in Grants Available to Minority- and Women-Owned Businesses" was first published on Small Business Trends