Secure The Bag: 10 Business Grants Black Women Entrepreneurs Need To Apply For Right Now – Essence

While the world catches up to what we already knew, Black women are quietly building the future of American business. 

Black women are the fastest-growing group of entrepreneurs in America, launching businesses at historic rates and transforming industries with innovative solutions and fresh perspectives. Yet, despite our undeniable impact on the economy, accessing capital remains one of the biggest hurdles we face. 

The numbers tell a stark story: less than 1% of venture capital funding reaches Black women founders, and traditional lending institutions continue to present barriers that often feel insurmountable.

But 2025 is about to hit different.

Major corporations, foundations, and organizations are stepping up with grant programs specifically designed to support Black women entrepreneurs. These aren’t just small-scale opportunities – we’re talking about serious funding that could transform your business, from monthly $10,000 injections to six-figure awards that could help you scale beyond your wildest dreams.

As we approach the end of the year, these are the grants you need to have on your radar, complete with deadlines and details to help you secure the bag.

Monthly and quick-win opportunities.

The Amber Grant for Women continues to be one of the most accessible opportunities out there, offering $10,000 every single month, plus a chance at their annual $25,000 award. The application process is refreshingly straightforward, making it perfect for entrepreneurs at any stage. 

For the beauty entrepreneurs out there, Beyoncé’s Cécred x BEYGood Fund is dropping another round of five $10,000 business grants this fall. If you’re a salon or barbershop owner in Atlanta, Chicago, Houston, Los Angeles, or New Jersey, mark your calendar – applications open November 1-20, 2024.

HerRise Micro-Grant program is proving that sometimes a smaller boost is all you need to level up. They’re awarding monthly $1,000 grants to women of color entrepreneurs. Past recipients have used these funds for everything from new computers to website creation. While there is a $10 application fee, the monthly opportunity makes it worth considering. 

Major growth opportunities.

The EmpowerHer Grant from Boundless Futures Foundation is offering serious support with up to $25,000 for entrepreneurs. What makes this opportunity unique is its reimbursement structure – ensuring the funds go directly to business expenses. They also offer their Her Village Grant of up to $30,000 for nonprofits supporting female entrepreneurs, with a deadline of November 1, 2024. 

Comcast RISE is bringing serious opportunities to select cities with their $10,000 grants. But what sets this program apart is the additional marketing and technology support services that come with the money. For businesses ready to scale, this combination of cash and practical support could be transformative. The program focuses on specific cities, with deadlines typically falling at the end of each quarter. 

Money and mentorship.

The Tory Burch Foundation Fellowship Program exemplifies the power of comprehensive support. Their $5,000 grant comes paired with a year of intensive mentorship and networking opportunities. Past fellows have credited the program not just for the funding, but for the doors it opened and the relationships it helped forge. With an annual November deadline, now is the time to prepare your application.

Amazon’s Black Business Accelerator takes the money-plus-mentorship model to the next level. Beyond financial assistance, participants receive strategic business guidance, mentorship, and marketing support specifically designed for Black entrepreneurs. The program’s focus on building sustainable equity through their platform makes it a unique opportunity for those ready to expand into e-commerce. 

McKinsey’s Next 1B program offers another powerful combination of funding and expertise. Designed for Black-owned brands with annual revenue between $250K and $5M, this program doesn’t just write a check – it provides access to one of the world’s leading consulting firms’ expertise and networks. For consumer product businesses ready to scale, this could be a game-changing opportunity. 

Tech and innovation opportunities.

For entrepreneurs in the tech and innovation space, the Small Business Innovation Research (SBIR) Program presents a pathway to substantial funding. These grants can reach into six figures, supporting businesses through various phases of research and development. While the application process is more intensive, the potential reward makes it worth the effort for qualified businesses. The program accepts applications quarterly, with several deadlines through December. 

IFundWomen’s Universal Grant Program deserves special attention for its consistent partnership with major brands to create new funding opportunities. Their rolling grant programs specifically prioritize women of color, and their platform provides invaluable resources for crafting winning applications.

Pitch competitions and educational resources.

Black Girl Ventures is flipping the script on traditional pitch competitions. Their innovative program doesn’t just offer funding up to $10,000 – they’ll coach you through the entire process, even if you’ve never created a pitch deck before. Currently focused on Los Angeles, Austin, Chicago, and NYC, their deadlines run from April 26 to November 6.

Bank of America’s Business Education Center for Entrepreneurs proves that sometimes the most valuable resource is knowledge. Their platform offers free webinars on crucial topics like accessing capital and building business credit – essential skills for any entrepreneur looking to scale. 

In a landscape where traditional funding remains elusive for Black women founders, these grants and programs represent more than just money – they’re opportunities to build generational wealth, scale our businesses, and create the kind of impact our communities need. Whether you’re seeking $1,000 to upgrade your equipment or $25,000 to transform your business model, there’s funding out there aligned with your vision.

Time is of the essence. As we approach the end of the year, deadlines are looming. Your business dreams are valid, and these organizations are ready to invest in your vision. The question isn’t whether you should apply – it’s which opportunity you’ll seize first.

Editor’s Note: This article will be updated regularly as new grant opportunities become available. Bookmark this page and check back often for the latest updates.