15 Grant Opportunities to Help Black-Owned Businesses Grow in 2025 | Family Finance

Black-owned businesses accounted for just 3% of U.S. employer firms in 2022, according to the Pew Research Center.

The good news? A growing number of organizations now offer grant programs that can help more Black-owned businesses enter and thrive in the American marketplace.

“With a background in nonprofit operations and now business development, I’ve seen firsthand how helpful the right resources can be – especially during economic shifts when diversified funding is critical,” Sonia Daniels, founder and CEO of S. Daniel Consulting, said in an email.

Daniels shared that she’s secured four business grants totaling about $10,000 and they’ve been pivotal in her company’s growth.

If you’re looking for help starting or growing your business, here are 15 grant opportunities worth checking out.

The Wish Local Empowerment Program is offering around 4,000 grants that range from $500 to $2,000 to eligible Wish Local small business partners. To qualify, you must be Black and own a brick-and-mortar store in the U.S. that averages under $1 million in annual revenue and has 20 or fewer employees.

The NAACP Powershift Entrepreneur Grant program aims to empower Black entrepreneurs and businesses through resources and funding. While a grant isn’t yet open for 2025, last year’s grant winners received $25,000, along with additional resources and tools.

Applications tend to open toward the end of the year, so keep an eye on this one around October.

Black Ambition offers a set of prizes to fund companies led by Black and Hispanic entrepreneurs. While not yet open for 2025, the organization provided up to 250 awards ranging from $15,000 to $1 million in 2024.

You can subscribe to Black Ambition’s newsletter to stay in the loop with upcoming opportunities.

The 1 Million Black Businesses (1MBB) initiative is on a mission to help one million Black businesses start, grow and scale by 2030. It’s on track, having already helped 459,000 businesses since 2020.

While the program doesn’t offer funds directly, it will help you identify your needs and provide you with free education, connections and coaching.

The National Black Business Pitch (NBBP) is a competition in which Black-owned businesses pitch corporations that are looking to expand and diversify their supply chains.

If you’re one of the three companies that win, you’ll get a cash prize of up to $10,000. If not, you still get exposure to potential clients and valuable pitching experience.

To qualify, businesses must be U.S.-based and Black-owned, founded or controlled.

The Lenovo Small Initiative is dedicated to helping minority-owned businesses. This year, it’s awarding 10 small businesses an AI-integration mentorship, a $10,000 customized AI technology package and $25,000.

To be eligible, your business must meet the following requirements:

Each month, the HerRise MicroGrant program provides $1,000 grants to women of color who are creating innovative solutions that impact their communities.

To be eligible, your business must be 51% woman-owned, registered in the U.S. and generating less than $1 million in gross revenue.

Hidden Star, a nonprofit, offers small business funding for women and minority entrepreneurs and is currently offering a $2,450 grant. You can apply in a minute or so at no cost.

Amazon offers the Black Business Accelerator program which provides Black-owned businesses with resources to sell on Amazon, including:

To be eligible, businesses must be based in the U.S. and at least 51% Black-owned. Additionally, you must have a physical product ready to sell, an Amazon Professional selling account and a Black-owned business certificate.

Cost to enter: Must have an Amazon Professional seller’s account

The Hustler’s MicroGrant is a $1,000 business grant for passionate entrepreneurs with big dreams who need support.

Created by Deja Vu Parker of WBLS and HerSuiteSpot, the program provides grants each month.

Start.Pivot.Grow is an organization dedicated to bringing economic opportunity to local businesses across the U.S.

It’s currently running a $2,500 quarterly microgrant program that can be used on utilities, commercial rent, inventory, professional development, software, marketing and bookkeeping services.

To qualify, you must have been in business for at least two years, have annual revenue of at least $50,000 and have no more than two employees, including the owner.

The Amber Grant program by WomensNet gives away at least $30,000 every month and $75,000 at the end of each year. To be eligible, your business must operate in the U.S. or Canada and be 50% or more women-owned.

Each month you apply, you’ll be entered to win the Amber Grant ($10,000), Startup Grant ($10,000) and Business Category Grant ($10,000). Then, all of the monthly winners are entered to win the end-of-the-year $25,000 grant.

EmpowHER grants are quarterly grants awarded to women who run businesses that make a social impact. Awards can go up to $25,000 and grantees also get access to financial, leadership, marketing and sector professionals.

To qualify, you must be a woman who is at least 22 and has a revenue-producing business no more than three years old. Additionally, your business must make a social impact.

The UPS Store is currently running a Small Biz Challenge in which you can compete for a share of $35,000, expert mentorship and a feature in Inc. magazine. If you make it to the final round, you’ll travel to the live competition event in Austin, Texas, to present in front of a celebrity host and guest judges.

To be eligible, you must own and operate an independent small business with no more than nine employees.

Small Biz Challenge 2025 entries are closed, but keep in mind this is an annual contest. Stay tuned for the online voting phase of Small Biz Challenge 2025 – which begins March 17 – for the opportunity to vote for one of the nine semifinalists to send them to the final round of the competition in Austin, Texas, this April.

Isiaa Jones, executive director of the Omni CRA in Miami, explained to a local television station that it tries to support the small businesses in its area. One of the ways it does that is through a program that provides small business microgrants of up to $35,000.

“We want to build the local economy that we do have, and there is support for small businesses at the state, local and federal level,” Jones said. You may find similar support from one or more organizations serving your city.