Small business growth fund: If you’re looking for funding for your small business, you’ve come to the right place. The Small Business Jobs Fund is a grant program that supports minority, women, and veteran owned small businesses.
The fund provides up to $20,000 in funding and complementary training and mentoring for entrepreneurs. These awards are not repaid and are available to small businesses of any size in the U.S. The fund is not available for nonprofit organizations.
You can also learn about the business purpose loans. What they are and how they work.
Small Business Growth Funds
Hello Alice
Hello Alice is a new online community for small businesses. Its goal is to provide entrepreneurs with the resources and connections they need to grow.
With over 513,963 members, Hello Alice has been able to raise nearly $21 million in funding since it launched in 2017. To qualify for this fund, small businesses must meet a few key criteria.
These requirements include:
- A commitment to their community and customers, and
- A plan for using the funding.
Hello Alice will provide business development resources and access to mentors. Small businesses can use the funds to:
- Upgrade their stores,
- Purchase new technology, or
- Hire new employees.
The company will also provide training and guided online learning content to help entrepreneurs grow their companies.
Virginia Small Business Growth Fund
Virginia has several programs for small businesses to access financing to expand their operations and reach new markets.
Some of these programs provide grants with:
- Zero interest rates and
- Require no fees.
Some programs target:
- Minority,
- Woman and
- Veteran owned small businesses.
Some programs are expanding their target markets and hiring business coaches to help 60 small businesses grow.
The Virginia Small Business Financing Authority is the Commonwealth of Virginia’s business finance arm, offering a variety of financial products and services to small businesses and communities.
This agency helps Virginia small businesses access financing through programs that support economic development and create jobs for citizens.
Camino Financial
The Camino Financial small business growth fund aims to help minority-owned businesses grow. It uses artificial intelligence and data to simplify the process of obtaining financing for small businesses.
By offering these loans and complementary business resources, it hopes to contribute to the $60 billion unmet capital needs in America.
The company focuses on lending to Latinx businesses based in the United States. With this funding, it will be able to expand its AI-driven business intelligence capabilities.
As of 2017, the U.S. Latinx economy is worth $2.3 trillion, making it the eighth largest economy in the world and the largest Hispanic one. Furthermore, Latinx-owned businesses are growing at twice the rate of non-Latinx-owned businesses.
Antares REACH Grant Program
The Antares REACH Grant Program is a new initiative that is aimed at leveling the playing field for entrepreneurs who are historically underrepresented in the business world.
The program will award $20,000 in grants to 40 small businesses. The program is partnered with Hello Alice, a multichannel platform dedicated to helping people of color start, grow, and run their own businesses.
The Antares REACH Grant Program funds small businesses that are entering their next growth stage, providing essential community services, and creating jobs. It will also give priority to historically underrepresented entrepreneurs.
This is especially important during Black History Month, when supporting Black-owned businesses is a great way to help create jobs and increase opportunities for financial freedom.
Power Forward Grant Program
The Boston Celtics and Vistaprint are partnering to create a multi-year grant program to empower small businesses in New England. The program includes $25,000 in grants to help small businesses start up or expand.
It also offers design and marketing assistance to help businesses promote their products and services. This program aims to empower local businesses, especially those owned by underrepresented communities.
To apply, applicants must be at least 18 years old and have a single small business. If an applicant owns more than one, they must complete the application for the largest business.
Once the application is submitted, if the applicant meets the requirements, the business will receive a grant. Eligibility is determined by the accuracy of the information submitted. In addition, awardees must certify their impact on the COVID-19 crisis.
Amber Grant Foundation
The Amber Grant Foundation is a nonprofit that helps women start and grow their small businesses. The foundation awards grants to women on a monthly basis.
The award money is small, but it can be very helpful for start-ups and expansions. It is also non-repayable, so it is a great way to get your business off the ground.
The StreetShares Foundation is another nonprofit that gives grants to women entrepreneurs. The foundation has helped more than 5,000 entrepreneurs get off the ground.
This nonprofit offers small business development and coaching programs as well as funding. It also helps veterans launch their own businesses through its Veteran Self-Employment Track program.
The program also helps veterans with marketing, finances, and business planning.
