Government Loans For Minority Small Business
If you qualify for a grant, you get the money free of repayment terms or interest rates. These are the top small business grants for women and
SBA microloans: The SBA offers microloans of up to $50,000 through nonprofit organizations. Interest rates range from 8% to 13%, and there's a maximum repayment term of six years, according to theSBA. The Opportunity Fund is one partner, and 90% of its borrowers are minority business owners, according to the company.
Business grants for your minority-owned business will get you access to freefinancing. Minority business owners face challenges when starting or expanding a small business, including access to affordable small-business loans. Business grants and financial assistance can help bridge the funding gap.
The grants offered by the government are typically used to perform research or to develop specific products that will benefit a goal of a particular government agency. The governmentdoes offer many great programs that can help all small business owners with many aspects ofbusiness outside of funding.
Grants.gov is the source to find and apply for federal grants
SBA's Financial Assistance Guide describes SBA loan programs, including
businesses each year receive such grant funding from various government agencies
for growth or startup business funding, here are the top 10 small and minority business
In fact, hundreds of black and minority-owned businesses each year receive such startup businessfunding from various government agencies
The FedEx Small Business Grant Contest is a nationwide competition that will award $50,000 in
Small business grants developed for minority-owned businesses can
Government funding opportunities like those found on Grants.
One of the biggest small-business loan guarantors is the government's Small Business Administration (SBA). There, small businesses can
Accion provides loans to minority-owned businesses in various industries
The National African American Small Business Loan Fund is a program
provides a governmentguarantee to lenders for their loans to businesses
To help you identify what government financing programs may be available to help you start or expand your business, check out the “Access Financing” Wizard
Several government agencies at the local, state, or federal level offer certification
Small Business Grants for Minority Entrepreneurs.
To get started, view our list of 100+ small business grants
However, in most cases, the federal government just determines eligibility but doles out