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In today’s world, getting “free money” is integral to the entrepreneurial journey and process. As capital is not as easily accessible for Black entrepreneurs to acquire, creative alternative options like pitch competitions or grant programs are lucrative ways to establish a financial foundation for your endeavor.
Luckily, there are organizations that are invested in bridging the gap for minority business owners of varying backgrounds. While more organizations are becoming increasingly more invested in giving money to Black-owned startups and early seed stage businesses, knowing where to look or start is another common challenge.
Many Black entrepreneurs miss out on these financial resources quite often. If you identify as a BIPOC business owner, here are a few grant programs and capital platforms to help you get started and secure the bag for your own business.
Grants.gov
A standard go-to, the US government’s grant platform should be the first stop for all entrepreneurs to check out. This outlet allows folks to stay abreast of government funding opportunities and also ensure that they are on the up-and-up when it comes to grant application.
IFundWomen
IFundWomen is a fierce advocate for women, especially women of color. They source other competitions and application processes sponsored from major businesses like Johnnie Walker, Visa and Comcast.
The Well Work
The Well Work has curated a database for BIPOC entrepreneurs to keep tabs on upcoming grant applications to set themselves up for optimal success. They provide tips and tricks for running a business smoothly through their Instagram platform and frequent newsletters. They also started their own grant program called The UnderFUNDED Grant.
Small Business Administration
The U.S. Small Business Administration was created to help up-and-coming businesses have access to little known resources like grants. They promote entrepreneurship through various programs and incentivize them to become solid foundations within their respective communities