Federal and State Grants for Minority-Owned Small Businesses
Minority-owned small businesses play a crucial role in driving innovation, creating jobs, and fostering economic growth in communities across the United States. To support the success and sustainability of minority entrepreneurs, various federal and state government agencies offer grants specifically tailored to meet the unique needs of minority-owned small businesses. Here is a guide to navigating the landscape of federal and state grants for minority entrepreneurs:
Federal Grant Opportunities for Minority-Owned Small Businesses
- Minority Business Development Agency (MBDA) Grants:
The MBDA, an agency of the U.S. Department of Commerce, provides grants to support minority-owned businesses’ growth and competitiveness. These grants focus on capacity building, market expansion, access to capital, and securing federal contracts. - Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR):
Managed by the U.S. Small Business Administration (SBA), these programs offer grants to small businesses—including minority-owned businesses—that are engaged in research and development of