Grants 2024, loan programs for small business owners

Securing financial resources could be a difficult task for businesses of all sizes.

While grants offer financing with no obligation to repay, loans require corporations to comply with strict conditions and repay the quantity borrowed with interest. The key distinction, because the U.S. Chamber of Commerce emphasized, is that subsidies are awarded on the premise of eligibility criteriawith funds allocated for specific purposes, while loans are more easily available, but require the lender to expect timely repayment.

Regardless of the funding source, entrepreneurs across sectors can explore quite a lot of opportunities to fuel their growth and expansion. Entrepreneurs may even seek funding through exciting collaborations, similar to the previous partnership Black Girl Ventures and TikTok covered BLACK ENTERPRISES in February. Applications for the Innovate Together grant program closed last month, calling on all entrepreneurs, founders, small business owners and creators to take part in the $1 million initiative that goals to “redefine success by fostering innovative collaboration, expanding reach branding and building a lasting legacy.”

Find the proper financing for your small business from the next list of options compiled by .

Black and Minority Owned Business Grants

U.S. Department of Commerce Minority Business Development Agency (MBDA)

8(a) Business Development Program

Amazon’s Black Business Accelerator Program

• Supports Black Amazon sellers
• Offers financial supportmentoring, business consulting and promotional support
• Free imaging services
• Cash grant opportunities
• Advertising credits
• Start-up financing

Black Ambition Award

• A contest for black and Latino innovators
• Prizes range from $15,000 to $1,000,000
• Access to capital, coaching and community
• Early-stage ventures in consumer products, healthcare, media, entertainment, technology and artificial intelligence
• Applications by May 6, 2024

National Black Business Showcase

• Submit a contest to connect Black-owned businesses to the corps striving to diversify the provision chain
• The 30 finalists reach out to corporate procurement and supplier diversity professionals
• Cash prizes as much as $10,000
• Applications might be submitted until June 3

SheaMoisture Grant Programs

• Supports Black-owned small businesses
• Business development support
• $100,000 grants through The Next Black Millionaires program.
• $10,000 Community Impact Grants for Black-owned U.S. businesses operating for no less than one 12 months

Wish Local Empowerment Program

• Supports Black-owned businesses employing 20 or fewer employees
• Financial aid starting from $500 to $2,000
• Recipients will need to have a mean annual revenue of lower than $1 million
• Flexibility within the allocation of funds
• Recipients join Wish Local to realize access to a database of consumers and partners

Minnesota Emerging Entrepreneur Loan Program (ELP)

• Grants to Minnesota businesses owned by minorities, low-income people, women, veterans and other people with disabilities
• Provides grant funds for nonprofit lenders to supply loans to start-up and growing businesses
• Helps create jobs for minorities and low-income people
• Strengthens minority-owned businesses
• It stimulates economic growth in disadvantaged areas
• You must apply through certified nonprofit lenders
• DEED helps discover the lender
• Loans are subject to DEED approval

Research and technology grants

Blueprint Medtech Translator Grant for Small Businesses

• Small corporations developing medical devices for nervous system disorders
• Supports device prototyping, safety testing, and clinical trials for FDA approval
• NIH helps plan and monitor research
• Funding and access to regulations, patents and manufacturing experts
• Applications by June 20

Innovation Corps within the NIH and CDC Translational Research Program

• Small corporations working on medical projects supported by previous grants
• Accelerate your development and commercialization of latest medical technologies
• 8-week entrepreneurship program
• Course syllabus to learn more in regards to the potential impact of their technology on customers and partners
• Covers program and travel costs
• Applications by April 30

National Institutes of Health Grants

• Funding research on COVID-19
• Small corporations developing and researching biomedical technology
• Many grants
• Application deadlines throughout 2024 and beyond

Small Business Innovation Research Program (SBIR)

• Subsidies support federal research and development for commercialization
• Rewards-based program
• It supports scientific excellence and technological innovation
• Must run a for-profit business

National Institute on Disability, Independent Living and Rehabilitation Research SBIR Program

• Financing the event of technologies and research to enhance the lives of individuals with disabilities
• Supports national social/economic advantages
• Provides ten grants totaling $1 million
• Find available grants through the Administration for Social Life

Small Business Technology Transfer Program (STTR)

• It funds research in the world of ​​R&D
• Must have formal collaboration with a research institution
• Must run a for-profit business
• Meet other requirements qualify

Small Business Digital Readiness Program

• Supports small businesses who need to develop within the digital space
• Digital Readiness Program
• The free online curriculum includes expert coaching, networking and other resources
• $10,000 grant eligibility for participants registered in two courses
• Walkable

Artificial intelligence innovation grant

• It funds development based on artificial intelligence
• Open to US-based corporations
• $10,000 grant
• Applications by March 15

American Seed Fund

• Provides financing for technology development
• Startups and small businesses based within the USA
• Funding as much as $2 million
• Sponsored by the National Science Foundation
• Submit project proposals repeatedly

Casper Accelerate Grant Program

Comcast Innovation Fund

• Financing technology and research for the event of the Internet
• Areas of interest in open source development, general and focused research
• Apps accepted until funds exhaust in 2024

Emerging Technology Fund (ETF)

• Helps growing businesses in Massachusetts
• Supports technology corporations with the necessity for acquisitions, expansion, working capital or equipment purchases
• It must reflect strong management, technical progress, market demand and solid financial performance
• Loans as much as $4,000,000

Companies affected by Covid-19 or a natural disaster

Rebuild the block

• Grant program for black entrepreneurs
• It helps audiences connect with community members on a bigger scale
• Applicants will need to have been affected by Covid-19 or other devastation
• 90 candidates in a three-month cycle
• Apply on the grants website

Retention loan for employees

• Helps corporations affected by Covid-19
• CARES Act stimulus program
• Refundable tax credit
• Apply through the IRS website

GoFundMe Small Business Relief Fund

• Funding for small businesses impacted by Covid-19, supported by GoFundMe and other corporations
• Donation of $500
• You must raise no less than $500 via GoFundMe
• Confirm your activity via the web form

Integration Beauty Fund 2024

• US-based cosmetics corporations affected by the Covid-19 pandemic
• Offers one-time grants of $10,000
• Professional mentoring and business development from L’Oréal management
• Entries are due March 29 at 6:00 PM EST

Small Business Resilience Readiness Program

Etsy Emergency Relief Fund

• Supports Etsy business owners who’ve been registered for no less than one 12 months
• Grant as much as $2,500
• Financial partnership with the non-profit organization CERF+
• Companies will need to have been affected by a natural disaster
• Rolled application

Women-led business grants

Federal Women-Owned Small Businesses (WOSB) Contracting Program.

• Access to credit and capital
• SBA program Includes trainingconsulting and federal contracts
• Program through the Office of Women’s Business Ownership

Amber Grant Foundation

• It awards quite a few scholarships all 12 months round for women entrepreneurs
• $10,000 monthly amber grant
• Amber grants price $25,000 per 12 months
• $10,000 each quarter for a startup grant and a non-profit grant
• $10,000 business category grants
• Apps open depending on the category

Cartier Women’s Initiative

• Funding for women entrepreneurs around the globe with particular emphasis on social and environmental sustainability
• Regional award
• Diversity, Equality and Inclusion Award (open to all genders)
• Science and Technology Pioneer Award
• It includes financial support, coaching and peer learning opportunities

Galaxy Grants

• Offers resources for women and minority business owners
• $2,750 Galaxy Grants distributed
• Possibility to receive a grant for one friend of the winner
• Sponsored by Hidden Star, a 501(c)(3) organization.
• 30-second entry process
• Applications by March 31

HerRise MicroGrant

• It funds American corporations which are majority-owned by women of color
• Focus on revolutionary social solutions
• Apps reviewed monthly
• Ineligible applicants include non-profit organizations, franchises, direct sellers, authorized resellers and independent consultants

IFundWomen universal grant application

Cat Fund

• Awarding $25,000 to 25 small business owners who’re moms
• Must be based within the US and have annual revenues of lower than $5 million
• Employment must range from two to 50 people
• Register online

#MomsMeanBusiness

RTC Women in Tech Fund

Shea Moisture Grant “Brown Girl Jane.”

LGBTQ+ corporations

Just Society Foundation Grants

StartOut scholarship program

Veteran-led businesses

Disabled Veteran-Owned Small Businesses Program

Hivers and Strivers investment program

• Provides capital for projects led by veteran-owned and operated businesses
• Funding from $250,000 to $1 million
• Submit business ideas on an ongoing basis
• Ineligible applicants include businesses depending on government contracts

Rise of the Warrior

Other general grants and programs