Women of color are among the fastest-growing groups of entrepreneurs in the United States. Yet, they continue to face persistent disparities in access to business funding. Despite this growth, women of color encounter significant barriers when it comes to raising capital, whether through venture capital, traditional bank loans, or other forms of business financing.
Recent data highlights the starkness of these gaps. In 2022, startups founded by women received just 1.9% of all U.S. venture capital, with a mere 0.1% going to Black and Latina women founders, according to Mckinsey & Company. Even as SBA-backed lending to women and minority entrepreneurs has doubled since 2020, only 16% of Black business owners and 19% of Hispanic owners were fully approved for bank financing in recent surveys, compared to 35% of white business owners, according to Bankrate.
This article spotlights seven current grants for small businesses that can provide financial support as well as visibility, mentorship, and the chance to connect with broader entrepreneurial networks. It also provides a piece of advice to keep in mind while crafting and submitting your proposal. Previously, I have covered how to stand out on the application for these opportunities, so if you are ready, you can apply today.
How To Stand Out When Applying For Grants
For many founders, particularly women of color, grants provide a vital alternative to loans or venture capital. However, high competition means only the strongest applications move forward.
Successful applicants go beyond eligibility to craft a clear plan for how every dollar will be used and explain why their business is worth investing in. One common mistake is offering vague descriptions, such as “funds will help us grow.” Instead, specify how the grant will support hiring, product development, or expansion, and tie each use of funds to tangible outcomes.
Finally, paying close attention to the language in each grant application is crucial to succeeding. So let’s explore the small business grants open right now:
7 Grants For Small Businesses To Apply
Amber Grant
The Amber Grant launched by WomensNet, this grant program awards $10,000 each month to a woman-owned business, with an additional $25,000 annual grant offered to one of the monthly recipients. What sets the Amber Grant apart is its focus on the founder’s story. Judges are looking for authenticity, passion, and the drive behind the business, not just financial projections or business jargon.
Applicants are encouraged to describe what motivates them, the challenges they have faced, and how grant funds would be used to accelerate growth or impact. Unlike many grant programs that require a detailed business plan or supporting documents, the Amber Grant application process is straightforward. The online form requests basic information, including the business name and website, followed by open-ended questions about your business journey and future plans. There is a $15 application fee, and applicants must be based in the U.S. or Canada.
American Express® Backing Small Businesses Grant
The American Express® Backing Small Businesses grant program is designed to strengthen locally significant small businesses across the United States, especially those operating in historic downtowns, main streets, and core commercial districts. This initiative provides $10,000 grants to support projects that foster sustainable growth, improve resilience, and deliver meaningful impact within local communities.
For the 2025 cycle, up to 500 small business owners will be selected (including 100 recipients from Disaster Recovery Grants) with 400 additional $10,000 grants available in this round. Of those, 25 businesses will be considered for $30,000 Enhancement Grants to further support transformative projects. Applications are open until July 31, 2025, and all funded projects must be completed by the end of the calendar year. Applicants are required to submit a feasible project proposal and a final report. They must not have received a grant from this program in a previous cycle.
Eligibility is targeted to independently owned, brick-and-mortar businesses with 20 or fewer full-time employees that have operated since at least January 1, 2024, and are located within historic main streets or central business corridors, not in home-based settings or malls. Grant funds can be used for accessibility upgrades, equipment, inventory, marketing, technology, sustainability initiatives, community events, and more (but not for payroll or debt repayment). The selection committee evaluates applications based on project feasibility, business need, potential impact, and community involvement.
National Black MBA Association Scale-Up Pitch Challenge
The Scale-Up Pitch Challenge, presented by the National Black MBA Association (NBMBAA), aims to empower early-stage startups led by Black founders, offering a platform to pitch, access business consulting services, and connect with a powerful network of professionals. Finalists are invited to compete at the annual NBMBAA Conference & Career Fair, where they present their ideas before a panel of investors and business leaders, with cash prizes awarded to the top pitches.
To be eligible, teams must include at least one Black founder with an equal stake in the business, and one team member must be an active NBMBAA member. The competition is open to U.S. residents age 18 and over, and welcomes concepts and businesses in the early stages of development. Each pitch must be the original work of the individual or team and include disclosures of any previous funding. While food, beverage, and supplement businesses are not eligible, the competition is open to businesses and concepts in the initial or early stages of development across other sectors. Applications must be received by August 4, 2025, and the top three finalists will advance to present live at the conference.
Entrepreneurs are required to submit a presentation and may showcase prototypes or samples during their pitch. In the semifinals, teams have three minutes to present; finalists receive five minutes for their pitch and six additional minutes for Q&A with judges. Pitches are evaluated on product or service, value proposition, target audience, market size, and competitive differentiation. Beyond cash awards, all competitors gain access to free business consulting, mentoring, and partnership opportunities.
Skip $10,000 Summer Grants
Skip’s $10,000 Summer Grants program provides a funding opportunity for entrepreneurs and small business owners across the United States. Now in its second round for 2025, the program is awarding over $1 million in grants this year, including $500,000 in exclusive merit-based grants for Skip Plus members. With $10,000 grants available, Skip is supporting founders at all stages, from startup to growth, with an emphasis on business merit and accessibility rather than size or sector.
Skip, founded in 2017, was created to help entrepreneurs and small business owners “skip” bureaucratic hurdles and access critical resources. Today, the company is dedicated to empowering small business owners through funding, information, and support.
Eligibility is open to any U.S.-based entrepreneur or small business owner age 18 or older, regardless of industry or business stage, but you must be an active Skip Plus member to apply. The application requires answering a brief set of questions, with a recommendation to have an up-to-date website and business plan. Applications close July 30 at 11:59 p.m. ET, with finalists notified by August 15 and the winner announced by the end of August. For those seeking a sizable, fast-moving grant this summer, Skip offers a streamlined process and broad eligibility, making it a standout option for business owners nationwide.
AT&T Small Business Contest
The AT&T Small Business Contest is a national competition designed to help small business owners accelerate growth through funding, exposure, and technology support. With a grand prize of $50,000, a year of AT&T service with a new device, and the chance to be featured in an AT&T content series, this initiative is as much about elevating brand visibility as it is about financial support. Finalists also gain access to mentorship from past She-is-Connected talent or AT&T corporate leaders, expanding their professional networks and know-how.
Eligibility is open to legal U.S. residents who are sole or majority owners of a small business with 50 or fewer full- or part-time employees. The contest entry period runs from June 9 to September 30, 2025. To participate, business owners (or individuals nominating a business) must submit essays detailing the business’s mission, vision, community impact, and how the Connecting-Changes-Everything ethos aligns with their work. Only one entry per business is allowed, and finalists are selected based on alignment, the strength of their business story, and community impact.
High Five Grants For Moms
The High Five Grants For Moms program is a unique, community-driven grant designed specifically for mom entrepreneurs looking to grow their businesses. Applications are open annually from September 1 to September 30, 2025, with a focus on both the applicant’s story and their “why” for building a business as a mother. The application includes a request for a social media post sharing the high five “why,” tagging the title sponsor and using #highfivegrant, to celebrate and spotlight the journey of mom founders.
Every application is carefully reviewed by a panel of experienced entrepreneurs who support mom-owned businesses. From the pool of applicants, eight finalists are chosen and announced in early October. The contest then turns to a public voting phase, where the broader community can cast a vote for their favorite mom-founded business. This approach not only offers funding but also fosters greater visibility and a sense of solidarity among women entrepreneurs.
On October 20, the program announces its grand prize winner, but every finalist receives a grant check to invest in their business. The High Five Grants For Moms initiative is about more than cash; it is about encouragement, visibility, and growing a support network that helps women juggle business and family. If you are a mom entrepreneur ready to share your story and rally community support, this grant provides a platform and resources to help you thrive.
Prose Emerging Entrepreneurs Grant
The Prose Emerging Entrepreneurs Grant, presented in partnership with Ellis Brooklyn, is designed to empower Asian American, Native Hawaiian, and Pacific Islander (AANHPI) founders who are building the next wave of innovative businesses. The program offers a $10,000 grant to one promising entrepreneur, providing both capital and a spotlight to help fuel business growth and visibility. In recognition of AANHPI Heritage Month, this initiative focuses on supporting historically underrepresented founders at a pivotal stage in their entrepreneurial journey.
Applicants must identify as Asian American, Native Hawaiian, or Pacific Islander and be actively growing a business. The application process is both thorough and founder-friendly, taking approximately 30 to 60 minutes to complete, with the ability to save progress and return before submitting. Candidates are asked to provide written answers to several questions, upload photos, and share a brief statement that reflects their individuality and business vision. There is also an optional opportunity to submit a three-minute video to help judges connect more personally with the founder’s story.
The deadline for submissions is August 1, 2025. What makes this grant unique is its focus on storytelling, authenticity, and community celebration, rather than rigid metrics or financial data alone. The partnership with Ellis Brooklyn further elevates the winner by connecting them with two purpose-driven, founder-led brands dedicated to inclusivity and innovation. For AANHPI entrepreneurs ready to take the next step, this grant offers not only funding but the recognition and encouragement needed to advance their business and inspire others in the community.