Inside the U.S. populace, a minority is identified as an underserved public segment of society and to help fill that need, many financial assistance vehicles exist in the form of minority business grants. There are federally and privately sponsored business grants for minorities for Native Americans, African Americans, women as well as the Hispanic population.
Business Grants for Minorities
President Obama and his team of dedicated workers have been hard at work helping America’s small businesses create and grow jobs. President Obama signed the Small Business Jobs Act and established the White House Small Business Working Group, which meets regularly to exchange strategies and practices for increasing grants for minority business owners. The team has been working in concert with the Minority Business Development Agency arm of the government to strengthen the bond between contracting, small business, and program offices in every agency.
The peaChic grant is a minority owned business grant dedicated to women owned and women focused businesses and does not requires repayment. The purpose of the peaChic grant is to provide a minority business funding source to women who seek to launch or expand their businesses. The peaChic minority owned business grants are typically small, up to one thousand dollars and are intended to cover basic expenses like establishing a web presence, procuring supplies or necessary equipment, marketing expenses, and other areas of business where lack of funding could result in inability to launch effectively.
State Specific grants for Minority Business Owners
Some minority business grants are available through state and local programs, nonprofit organizations and other groups. Some states provide business grants for minorities for expanding child care centers and designing energy efficient green technology. Some even offer minority owned business grants for developing marketing campaigns for tourism in the Gulf Coast states. These grants usually require the minority business grants recipient to match funds or combine the grant with other forms of financing such as a loan. The amount of the grant money available varies with each business and each grantor.
There are minorities owned business grants offered to Native Americans who are interested in expanding their business knowledge by earning their Masters degree in Business Administration. The Asian Women in Business Scholarship encourages and promotes exceptional Asian female students who have demonstrated scholarship, leadership, community service and entrepreneurship by offering grants for minority business owners. To attract more minority and disadvantaged students to academic programs in community planning and development, HUD’s Office of University Partnerships offers minority business grants inside the Community Development Work Study Program it sponsors.
The Michigan Minority Business Development Council is a privately funded, minority business development organization, whose primary goal and responsibility is to facilitate successful business relationships between minority business enterprises and Corporations that lead to increased procurement through minority business grants funding. Women minority owned business grant seekers seeking funding to further research-related endeavors would do well to look over minority owned business grant opportunities offered by the federal National Institutes of Health as well as the National Science Foundation.
Hispanic Business Grants for Minorities
The Hispanic Foundation of Silicon Valley is a public foundation dedicated to inspiring community philanthropy and engaging people to invest in the health, educational achievement, and leadership development of a thriving Hispanic community in Silicon Valley. The Hispanic Foundation of Silicon Valley offers full and partial minority owned business grants through corporate sponsors.
If you fall inside the definition of a minority owned business, you would be wise to seek funding by making use of minority business grants.