Starting or growing a business takes money. Not vibes. Not vision boards. Money.
And if you’re a Black or minority entrepreneur, you already know the funding conversation feels complicated. Venture capital statistics aren’t encouraging. Traditional bank loans? Often a maze with a locked door at the end.
Grants matter.
Unlike loans, grants don’t need to be repaid. No interest. No equity. No investor hovering over your shoulder asking about “exit strategy” when you’re trying to hire your third employee. Grants are designed to close gaps and create opportunity where traditional systems haven’t.
Here’s what’s out there for 2026.
Why Grants Matter (Beyond the Obvious)
Black and minority founders consistently receive a smaller share of venture capital and face higher loan denial rates. This is data. Grants help level the playing field by offering non-dilutive capital, meaning you keep ownership and control.
For founders building generational wealth? This matters.
Grants also often come with something underrated: visibility, mentorship, and networks. Sometimes the check is helpful. Sometimes the access is life-changing.
Federal Programs Worth Knowing
SBIR & STTR Programs (Small Business Innovation Research / Small Business Technology Transfer)
If you’re building something technical, scientific, or deeply innovative, this is serious money. These programs collectively award billions annually to small businesses developing new technologies.
Award range: $50,000 to $1.75 million Who qualifies: U.S. small businesses (under 500 employees) focused on R&D Timeline: Rolling, varies by agency
This isn’t “I started a candle company last week” funding. This is “we’re developing breakthrough tech” funding.
Minority Business Development Agency (MBDA)
MBDA doesn’t usually hand you a check directly. What they do is help you get to the check. Their Business Centers across the country provide consulting, procurement support, and capital access guidance.
Translation: they help you compete smarter.
STEP Grants (State Trade Expansion Program)
Want to sell internationally? STEP helps cover trade shows, export marketing, and training.
Typical awards: $2,500 to $15,000
If your growth plan includes global customers, this is worth exploring.
Major Grants for Black Entrepreneurs
Black Ambition Prize
Founded by Pharrell Williams, Black Ambition isn’t small-ball funding.
Top prize: Up to $1,000,000 Also includes: HBCU track awards up to $100,000
Eligibility includes underrepresented founders (Black, Hispanic/Latinx, LGBTQ+, first-gen college grads, etc.) with less than $1M raised in dilutive funding.
But here’s the real value: mentorship, network, education. A full ecosystem.
Applications typically open early in the year and run about 10 weeks.
Nipsey Hussle Business Grant
Hosted during Invest Fest in partnership with The Marathon brand and Earn Your Leisure, this grant celebrates scalable businesses with real community impact.
Grand prize: $100,000
You submit an application plus an Instagram video. Finalists pitch live on stage in Atlanta.
High energy. High visibility. High stakes.
NAACP Programs
The NAACP has partnered on multiple grant initiatives supporting Black-owned businesses. Programs evolve year to year, so check their grants page for current opportunities.
One notable initiative has included $25,000 awards through their Powershift Entrepreneur Grant program.
The takeaway? They continue to collaborate with corporate partners to funnel capital toward Black founders.
Goldman Sachs One Million Black Women
This initiative committed billions in capital and philanthropic funding to impact Black women by 2030.
Highlights include:
12-week Black in Business education program Mentorship and advisor access Nonprofit impact grants
This is less “fill out form, get check” and more “enter structured growth pipeline.” Still valuable.
Fifteen Percent Pledge
Founded by Aurora James, this organization pushes retailers to allocate 15% shelf space to Black-owned brands. They also run multiple grant programs.
Awards have included:
$200,000 achievement awards $100,000 beauty grants $25,000 founder grants Live pitch competitions
Many programs require businesses to be at least 50% Black-owned and already generating revenue.
SheaMoisture Community Grants
SheaMoisture has committed millions to supporting Black-owned businesses, particularly in beauty and wellness.
Some programs award up to $100,000 and include business development and retail support.
If you’re in beauty, culture, or wellness, this brand consistently shows up with funding.
Corporate & Private Foundation Options
Amber Grant: $10,000 monthly awards for women entrepreneurs.
FedEx Small Business Grant Contest: Public voting competition with sizable awards.
Hello Alice: Frequent grants for underrepresented founders plus business tools.
Visa Small Business Grants: Periodic programs supporting diverse founders.
IFundWomen: Combines crowdfunding with grant competitions.
Verizon Small Business Recovery Fund: Often distributed via LISC, typically up to $10,000.
These rotate, so staying on mailing lists is essential.
Industry-Specific Opportunities
NASE Growth Grants (National Association for the Self-Employed)
Micro-grants up to $4,000, awarded quarterly.
Good for covering specific expenses: equipment, marketing, upgrades.
Hivers and Strivers
Technically not a grant. This is equity investment, but worth noting for minority military veterans building scalable startups.
They invest between $250,000 and $1M in veteran-led companies.
Grants for Specific Communities
Latinx founders explore LiftFund and regional Hispanic Chambers.
AAPI entrepreneurs look into Gold House and community-based funds.
Native American founders have access to federal and tribal programs via the Bureau of Indian Affairs and First Nations Development Institute.
Many opportunities are hyper-regional. Check your state’s economic development office, SBDC, and local chambers.
How to Improve Your Odds
Grants are competitive. Strategy matters.
Build your foundation first. Have your EIN, business bank account, financials, and clean website ready.
Tell a sharp story. Why you? Why now? Why does this funding create impact? Vague passion doesn’t win. Specific outcomes do.
Apply strategically. Ten thoughtful applications beat fifty rushed ones.
Treat rejection like reps at the gym. Part of the process.
Quick Application Checklist
Before hitting submit, make sure you have:
EIN Business bank account Updated business plan Financial statements Proof of ownership Clear use-of-funds plan Active website & social presence Ability to record a video pitch
Some grants (like the Nipsey Hussle competition) require you to show up on camera. Practice matters.
Don’t Rely on Grants Alone
Smart founders diversify.
Also consider:
CDFIs (community-focused lenders) Crowdfunding Pitch competitions Microloans Angel networks focused on diverse founders
Grants are one tool in the toolbox.
Final Word
The funding space for Black and minority entrepreneurs in 2026 is better than five years ago. Not perfect. But better. Corporations, foundations, and federal agencies are allocating real dollars toward diverse ownership.
From million-dollar prizes to $4,000 micro-grants, the range is wide. The key is consistency.
Apply. Refine. Apply again.
Funding rarely comes from a single swing. Build momentum.
And if you want a deeper, regularly updated list of opportunities beyond the ones mentioned here, explore a comprehensive database of 300+ active grants and funding programs designed for diverse founders.
Stay persistent. Stay strategic. Access to capital is part of building power.
*For more information find our database with over 300+ Grants here
