Building sustainable businesses, especially during a pandemic, is never easy. According to the National Bureau of Economic Research, 41 percent of Black businesses shuttered their doors between February and April 2020. While the Small Business Administration has provided support in the form of the Payment Protection Program, more support is needed. The grants below carry more than just a monetary value; many also come with business development and guidance — important tools to scale and grow a business effectively.
Amazon Black Business Accelerator
To be successful, Black businesses need to identify ways to become sustainable. The Amazon Black Business Accelerator helps Black business owners achieve sustainable growth and equity as sellers on the Amazon platform. The program provides financial assistance and grant opportunities through a partnership with Hello Alice. The program also provides access to business guidance and mentorship opportunities and marketing support. Businesses interested in participating in this program can get more information here.
Comcast RISE Marketing and Technology Services
Businesses are able to become sustainable when they have access to investments that make them feel empowered. Comcast RISE is a multi-year program providing marketing, media, technology and creative services to minority small business owners. The application deadline for Comcast RISE is Jan. 15. Businesses can apply here.
The National Association for the Self-Employed Growth Grants
Self-employed business owners need additional funding to run and grow their businesses. The National Association for the Self Employed awards grants worth up to $4,000 each. NASE also provides tools and resources for Black-owned and other minority businesses. To be eligible, applicants must be a member of NASE. You’ll also need to explain how the funds will be used in your business and how the grant will support your business operations. Applications received from Jan. 1 to March 31 will be awarded in April 2022. Interested in getting funds as a self-employed business owner? Get more information on the organization’s website.
Founders First Capital Partners
For businesses to grow, they need capital and access to resources. Founders First Capital Partners’ revenue-based funding and services will help accelerate a business’ sales growth. Throughout 2022, Founders First will award four grants totaling more than $25,000 to small businesses committed to diversity and that also have achieved revenues between $1 to $5 million. The first round of grants will be open to businesses in New Jersey and Philadelphia. The application deadline is Jan. 22, 2022. Eligible business owners can apply here.
SoGal Foundation Black Founder Startup
The SoGal Foundation is partnering with a team of businesses to launch the Black Founder Startup Grant. Grants between $5,000 to $10,000 will be awarded to support business growth efforts. In addition, grant recipients will have lifetime access to the SoGal Foundation and SoGal Venture teams. Black women and Black nonbinary entrepreneurs are eligible for this grant program. Applicants must have a registered business and possess a scalable business or idea that will be able to seek investor financing. The organization’s grant program accepts applications on a rolling cycle and awards are provided at the end of each month. Visit SoGal’s website for an application.