Grants and Resources for Minority-Owned Businesses: Complete Funding Guide

There are over 12 million minority-owned businesses in the United States, representing more than 35% of all American businesses. Yet according to Federal Reserve data published in 2025, minority-owned businesses remain significantly less likely to be fully approved for financing compared to white-owned counterparts.

The funding gap is real, but so are the solutions. Federal agencies, private foundations, and corporate programs have created billions of dollars in grants, loans, and resources specifically designed to help minority entrepreneurs overcome historic barriers to capital access. The challenge is not whether funding exists—it is knowing where to look and how to qualify.

This guide breaks down the major grant programs, certification pathways, and resources available to minority business owners across different communities.

Federal Programs: The Foundation of Minority Business Support

SBA 8(a) Business Development Program

The Small Business Administration's 8(a) program remains the flagship federal initiative for socially and economically disadvantaged entrepreneurs. Once certified, businesses can participate for up to nine years with access to:

• Set-aside and sole-source federal contracts
• Business development assistance and mentorship
• Management and technical guidance
• Specialized business training

Eligibility requirements:

• Business must be 51% owned and controlled by socially and economically disadvantaged individuals
• Owner's personal net worth must be $250,000 or less (with certain exclusions)
• Business must qualify as small under SBA size standards

To apply, create a profile at SBA Certify (certify.sba.gov) and follow the certification process. Approval typically takes 90 days or longer.

Minority Business Development Agency (MBDA)

The U.S. Department of Commerce operates the Minority Business Development Agency, which facilitated access to $1.5 billion in capital for minority business enterprises in fiscal year 2023. That same year, MBDA helped generate over $3.8 billion in contract awards and supported more than 19,000 jobs.

MBDA Business Centers operate in communities with significant minority populations, offering:

• One-on-one financial counseling
• Assistance identifying capital sources
• Help with loan and grant applications
• Strategic business consulting

Find your local MBDA Business Center at mbda.gov to schedule a consultation.

SBIR and STTR Research Grants

Minority entrepreneurs in technology, research, and innovation sectors should explore the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. These competitive grants fund research and development projects across 11 federal agencies, with awards ranging from $150,000 to over $1 million depending on the phase and agency.

Grants for Black-Owned Businesses

NAACP Powershift Entrepreneur Grant

The NAACP Powershift Entrepreneur Grant, developed in partnership with Medium Rare and The Shark Group, awards $25,000 to Black entrepreneurs along with business resources and mentorship. This annual program, now in its fourth year, specifically targets Black-owned businesses seeking growth capital.

1 Million Black Businesses (1MBB) Initiative

Since 2020, the 1 Million Black Businesses initiative has helped more than 459,000 Black-owned small businesses launch and grow. Run by nonprofit Operation HOPE with partner Shopify (which made a 10-year, $130 million pledge), 1MBB aims to help start and grow one million Black-owned businesses by 2030.

The Next Black Millionaire Grant

This substantial program offers $100,000 in funding plus business development services and retailer distribution support to Black-owned businesses in the United States.

Additional Programs

• Freed Fellowship: Monthly $500 grants for minority-owned businesses
• Kinetic Black Business Support Fund: Up to $2,500 for Black-owned businesses in Midwest and Northeast service areas (must have fewer than 25 employees)
• The Empower Program: Grants between $500 and $2,000 for Black-owned small businesses
• Power Forward Small Business Grant: $25,000 grants for Black-owned businesses across New England (partnership between Vistaprint and Boston Celtics Shamrock Foundation)

Grants for Hispanic and Latino-Owned Businesses

PepsiCo Juntos Crecemos

The PepsiCo Foundation Hispanic Business Program provides $10,000 grants to 150 Hispanic-owned food and beverage businesses in select cities across the United States. This targeted program supports entrepreneurs in the food industry specifically.

Creciendo Con TikTok Grants

This $200,000 grant fund provides $5,000 cash awards to 40 Latinx small business owners who have demonstrated entrepreneurial vision and community impact.

USHCC and Wells Fargo Partnership

The United States Hispanic Chamber of Commerce, in partnership with Wells Fargo, provides multiple grants ranging from $5,000 to $15,000 to qualified Hispanic business owners.

New Jersey CHPRD Grants

New Jersey's Center for Hispanic Policy, Research, and Development offers grants up to $60,000 to support Hispanic residents who have recently started businesses or those looking to establish new ventures.

Lending Resources

• Accion Opportunity Fund: Loans up to $250,000 with terms ranging from one to five years, specifically supporting Hispanic businesses including startups and those with less-than-perfect credit
• Kiva U.S.: Up to $15,000 in crowdfunded loans at 0% interest

In fiscal year 2025, the SBA approved more than 6,500 SBA 7(a) loans totaling over $2 billion specifically for Hispanic business owners.

Grants for Asian American and Pacific Islander (AAPI) Businesses

AAPISTRONG Small Business Grants

Through a partnership between Reimagine Main Street and National ACE, with support from Meta, AAPISTRONG provides 100 cash grants totaling $2 million to AAPI-owned small businesses. This is one of the largest dedicated funding pools for AAPI entrepreneurs.

Gold House Ventures

Gold House offers two grant opportunities for AAPI entrepreneurs:

• SAFE Gold House Ventures: Investment capital for AAPI entrepreneurs disrupting their industries
• Gold Futures Challenge: Awards to organizations and projects supporting API communities, with winners selected through public voting

FoundHer / Hawaii Foundher

This six-month accelerator program specifically serves Native Hawaiian, Pacific Islander, and Asian women entrepreneurs. The program has awarded $240,000 to ten companies, providing grant funding, flexible childcare stipends, workspace access, mentorship, and advisor networks.

Asian Pacific American Chamber of Commerce

With support from General Motors, APACC provides one-year membership grants at the Bronze ($200) or Silver ($300) level to AAPI-owned small businesses, giving access to resources, programming, and networking opportunities.

Grants for Native American and Indigenous Businesses

Bureau of Indian Affairs (BIA) Programs

The BIA offers several grant programs for tribal and Native American-owned businesses:

• NABDI (Native American Business Development Institute): Annual grants between $25,000 and $75,000 for feasibility studies and business planning
• TEDC (Tribal Energy Development Capacity) Grant: Funding for tribes to develop energy businesses
• Indian Business Incubators Program: Funding to establish business incubators serving Native entrepreneurs
• Tribal Tourism Grant Program: Support for tourism feasibility studies under the NATIVE Act

First Nations Development Institute

Since 1993, First Nations has managed 4,113 grants totaling over $100.3 million to Native American projects and organizations across 45 states. Their grantmaking program provides both financial and technical resources for asset-based development efforts.

NDN Collective

This Indigenous-led organization offers grants for general operating support, leadership development, land purchase, construction, renovation, and equipment. Grants are available to Indigenous-led tribes, organizations, groups, projects, and individuals throughout the U.S. and territories.

State-Specific Programs

• Montana Indian Equity Fund: Up to $14,000 for enrolled members of Montana's eight federally recognized tribes
• New Mexico AIBE: Microgrants and pitch competitions for Native American-owned businesses
• Washington Native Business Center: Various grant opportunities for Indigenous business owners

Secretsos Native American Grant

This program provides $5,000 grants to Native American entrepreneurs. First quarter applications for 2026 open January 1, 2026.

General Minority Business Grants (Open to Multiple Communities)

Comcast RISE Investment Fund

Comcast RISE provides comprehensive support to minority and female entrepreneurs including:

• Business assessment and tactical planning
• Educational resources
• Marketing services
• Technology upgrades
• $5,000 grants for growth and sustainability

Democratizing the Friends and Family Round

This New York City-focused program awards $25,000 to 20 female founders of color, specifically addressing the early-stage funding gap that many women and women of color face.

NASE Growth Grants

Members of the National Association for the Self-Employed can apply for up to $4,000 to support business growth initiatives. Membership is required before applying.

Cultivate Small Business Grant

Deadline: February 2, 2026. Eligible food businesses must:

• Be located in a low-to-moderate income area
• Have operated for at least one year
• Generate $25,000 to $1 million in revenue
• Have 1-10 full-time employees

The program includes a 12-week virtual education program alongside funding.

Fast Break for Small Business

One of the largest grant programs available, Fast Break offers $10,000 grants plus up to $500 in LegalZoom products and services to small businesses that have been operating for at least three months.

Lowe's LISC Small Business Relief Grants

This $55 million program supports pandemic and disaster-affected businesses. Phase 1 directed 91% of funding to women and minority-owned businesses. Phase 2 targets rural communities with populations under 50,000.

Certification: Opening Doors to Opportunity

Why Certification Matters

Minority Business Enterprise (MBE) certification can unlock access to:

• Corporate supplier diversity programs
• Government contract set-asides
• Networking with certified business networks
• Preferential consideration in many grant programs

Key Certification Bodies

National Minority Supplier Development Council (NMSDC): The gold standard for MBE certification, recognized by major corporations nationwide. NMSDC certification connects minority businesses with corporate supply chain opportunities.

SBA 8(a) Certification: Specifically for federal contracting opportunities. Requires demonstration of social and economic disadvantage.

State and Local MBE Programs: Many states and municipalities have their own certification programs that unlock local contracting opportunities.

Certification Requirements

Generally, minority-owned business certification requires:

• At least 51% ownership by minority individuals
• Day-to-day operational control by minority owners
• U.S. citizenship or legal residency
• Independent business (not a subsidiary or affiliate of a larger company)

The SBA considers Asian Americans, African Americans, Native Americans, Hasidic Jews, Hispanic Americans, and Pacific Islanders as minorities for certification purposes.

Maximizing Your Grant Success

Prepare Your Financial Documentation

Grant applications consistently require:

• Business financial statements
• Tax returns (personal and business)
• Bank statements
• Revenue projections
• Proof of ownership structure

Having organized, accurate financial records significantly improves application success rates. Grant reviewers evaluate not just your business idea but your ability to manage funds responsibly.

Tell Your Story Effectively

Many grants evaluate community impact alongside business viability. Be prepared to articulate:

• How your business serves your community
• Jobs created or planned
• Economic impact in your area
• Your unique value proposition

Apply Broadly and Strategically

Most grant programs are highly competitive. Increase your odds by:

• Applying to multiple programs simultaneously
• Tracking deadlines in a calendar
• Tailoring each application to the specific program's priorities
• Following up appropriately after submission

Build Relationships with Support Organizations

MBDA Business Centers, local SBDCs (Small Business Development Centers), and minority business associations can provide application assistance, review your materials, and connect you with opportunities you might otherwise miss.

Keep Your Finances Grant-Ready

Grant applications require clean, organized financial records. Grant reviewers evaluate your financial management alongside your business concept. Disorganized records not only slow down applications but signal potential risk to funders.

Key practices for grant readiness:

• Maintain monthly bookkeeping consistently
• Separate business and personal finances completely
• Track all income sources and expenses by category
• Keep documentation for every transaction
• Generate accurate financial statements on demand

Beancount.io provides plain-text accounting that gives you complete transparency and control over your financial records. Every transaction is traceable, every report auditable—exactly what grant applications demand. With version-controlled records and AI-ready formatting, you can generate the financial documentation funders need to see. Get started for free and build the financial foundation that makes your minority-owned business grant-ready.