Hopefully this site provides a little inspiration for anyone that is interested in STEM studies and/or careers. I also hope that it inspires people to think with an entrepreneurial mindset. For those individuals that maybe thinking of starting their own business, or may have already started one, future funding may be needed. A financial grant can be very helpful during that time. There is a good amount of information regarding how to obtain grants on-line. There is also a considerable amount of information and opportunities out there for minority business owners, or anyone who wishes to start a business.
Applying for Federal Grants
Grants.gov provides a secure and reliable source to apply for federal grants. The federal governments site makes it faster, easier and more cost effective for grant applicants to electronically interact with federal grant-making agencies. These grants are typically geared toward business owners or established businesses. USA.gov is another government website that can also provide detailed information regarding government grants. In addition, sba.gov also has plenty of useful information.
Local Organizations are There to Help
Obtaining a federal grants can be a little competitive and even intimidating to some. The good thing is that you can always search for grants through your local community organizations. There are often community organizations that may be in your area that have received government funds which are designated to be allocated to local small businesses. One place to inquire would be your local Chamber of Commerce.
Reputable Private Organizations
Listed below are a few private organizations and programs available for minority business owners. Any one of them could be used to help your STEM business. When applying for these grants make sure you meet the qualifications and pay attention to the deadlines.
Amber Grant: This grant offers one $2,000 grant each month to a woman-owned business. Monthly winners are then eligible for a competition to receive the foundation’s $25,000 annual grant.
FedEx Small Business Grant Contest is set up to build small business innovation. There are roughly 10 grants ranging from $15,000 to $50,000 awarded every year to product-focused small businesses.
First Nations Development Institute is a nonprofit group that aims to help Native Americans, Alaska Natives, and Native Hawaiians. Their grants provide both financial and technical resources to tribes and Native nonprofit organizations to support asset-based development efforts.
Minority Business Development Agency: MBDA is an agency of the United States Department of Commerce that helps minority owned businesses or minorities wanting to become small business owners.
National Association for the Self Employed: NASE offers small business grants of up to $4,000.
National Black MBA Association Scale-Up Pitch Challenge: National Black MBA Association launched the Scale-Up Pitch Challenge in 2017 which works to satisfy the mission of the Association to help create and support wealth building opportunities for its members, with previous winners experiencing great success with investors due to exposure and funding provided through this challenge. The winning team will be awarded a $50,000 Grand Prize, with additional to prizes for 2nd place and 3rd place as well as a People’s Choice Award.
National LGBT Chamber of Commerce: NGLCC is a national advocacy organization aimed at expanding opportunities for LGBT-owned businesses.
National Minority Supplier Development Council: The National Minority Supplier Development Council advances business opportunities for certified minority business enterprises and connects them to corporate members.
Operation Hope Small-Business Empowerment Program: Operation HOPE is a for-purpose organization working to disrupt poverty and empower inclusion for low and moderate-income youth and adults.
SBA 8(a) Business Development Program: This program is geared toward socially- or economically-disadvantaged individuals that own at least 51% of their business.
Small Business Innovation Research and Small Business Technology Transfer Programs: The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, also known as America’s Seed Fund, are one of the largest sources of early-stage capital for technology commercialization in the United States.
Tribal Energy Development Capacity Grant Program: The TEDC grant gives tribes the ability to develop or enhance their business and regulatory environment for energy resource development.
The Dare to Dream Grant Program: The Dare to Dream Grant Program encourages students to move through the business creation process by offering business development seminars and up to $10,000 in funding.
The DOT Disadvantaged Business Enterprise Program: The Dept of Transportation’s Disadvantaged Business Enterprise (DBE) program is intended to ensure nondiscrimination in the award and administration of DOT-assisted contracts in the Department’s highway, transit, airport, and highway safety financial assistance programs.
The Eileen Fisher Grant Program: This grant program provides support to women taking action for environmental justice
USDA Community Connect Grants: This program helps fund broadband deployment into rural communities where it is not yet economically viable for private sector providers to deliver service.
USDA Rural Business Enterprise Grant Program: This program is designed to provide technical assistance and training for small rural businesses. Small means that the business has fewer than 50 new workers and less than $1 million in gross revenue.
USDA Water & Waste Disposal Loan & Grant Program: This program provides funding for clean and reliable drinking water systems, sanitary sewage disposal, sanitary solid waste disposal, and storm water drainage to households and businesses in eligible rural areas.
USDA Value Added Produce Grant: The VAPG program helps agricultural producers enter into value-added activities related to the processing and marketing of new products. The program offers small business grants up to $250,000.
Additional Resources Shared by Our Readers
Suppliedshop.com highlights a great article with a detailed list of 18 small business grants for minorities.
Score.org represents the nation’s largest network of volunteer business experts. Click the link to check out their list of startup resources.
If you are looking for ways to help support minority owned small businesses, checkout Finimpact.com for some great resources.
freegrantsforveterans.org These grants are given away for free, and they could help low income veterans with bills, mortgage, rent, housing, college, and medications .
For great comprehensive list of funding options for minority-owned business owners checkout the following link: https://en.downloadastro.com/magazine/funding-black-owned-businesses/
Our friends at SimplifyLLC provide an independent publication dedicated to offering free resource guides for small business owners. Check out their comprehensive guide to starting a Limited Liability Company (LLC) in the US. https://www.simplifyllc.com/llc-formation/