Top 5 business grants for minorities and the essential facts
Minorities face more challenges when they wish to start a business or want to expand it. They need access to affordable small business loans, and business grants for minorities may help to bridge the financial gap in the process. The government of USA gives away millions of dollars to the people for various purposes. You may not be aware that you qualify for $20000 under the small business grant being a minority which need not be paid back. The government offers grants for single parents, minorities and women. Although anyone may apply for the grant, it does not mean you are eligible for the fund or you qualify for the fund. Here you will find the names of best business grants solely reserved for the minorities.
The cash you may get from the grants program may be utilized for various purposes like getting out of the debt, funding a new business, clearing mortgage or paying for the child’s education. Business grants, however, are solely meant for business purpose. It is easy to obtain business grants for minorities. When the financial institutions do not lend you money, you may always apply for government business grants. The applicant first needs to find out if he qualifies for business grant or not.
Grants.gov: the leading website for grant seekers
Are you willing to apply for the federal funding opportunity? Why not use Grants.gov, the leading government website that allows one to apply for the government grants. You will get information on several grants programs here. The programs of nearly 26 federal agencies are mentioned here. Before you apply for federal grant, get the DUNS number for your business. You need to create an account with Grants.gov to get started. You have to register with federal government to do business.
NASE or National Association for Self Employed
The National Association for Self Employed is the non-profit trade organization which offers educational resources and various grants for the budding entrepreneurs and small business. Through the Growth Grants Program, you may apply for the grant financing, and thus fund your small business. Each grant is worth around $4000. Thus, NASE is a great resource if you are a minority business owner and need funding.
The USDA Rural Business Enterprise Grant Program
Business grants for minorities are a fabulous way to expand and finance a business. If you want to expand your business, apply for funds under USDA Rural Business Enterprise Grant Program. This grant is solely reserved for business expansion in the rural areas and mainly the small businesses. The amount may range from $10000 and $50000 and may be utilized for any of the business purposes.
FedEx Small Business Grant Contest
This is one of the nationwide contests held to award grants and financial help to the budding businesses. Grant is offered in the form of prize and cash money.
Office of Minority Health Grant Programs
OMH or Office of Minority Health Grant Program is solely meant for businesses who just want to eliminate the various health disparities between ethnic minority population and the racial minority population. You may visit the official website of OMH to find information on the grants.
There are many other business grants for minorities besides the above-mentioned ones.