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Get Yo’ Money! 2024 Grants, Loan Programs For Small-Business Owners

Navigate through the listed programs to find 2024 grants and loans specific to the needs of your small business.

Securing financial resources can be a daunting task for enterprises of all sizes.

While grants offer funding without the obligation of repayment, loans require businesses to adhere to stringent terms and pay back the borrowed amount with interest. The key distinction, as highlighted by the U.S. Chamber of Commerce, is that grants are awarded based on eligibility criteria, with the funds designated for specific purposes, whereas loans are more readily accessible, but come with the lender’s expectation of timely repayment.

Regardless of the funding source, entrepreneurs across various sectors can explore diverse opportunities to fuel their growth and expansion. Entrepreneurs can even seek funding through exciting collaborations like the previous Black Girl Ventures and TikTok partnership covered by BLACK ENTERPRISE in February. The Innovate Together Grant Program closed applications last month and called all entrepreneurs, founders, small-business owners, and creators to participate in a $1 million initiative to “redefine success by fostering innovative collaborations, amplifying brand reach and building lasting legacies.”

Find the right funding for your small business from the following list of options compiled by CO—.

Black and Minority-owned Business Grants

U.S. Department of Commerce Minority Business Development Agency (MBDA)

8(a) Business Development Program

Amazon’s Black Business Accelerator Program

  • Supports Black Amazon store sellers
  • Offers financial support, mentorship, business advice, and promotional support
  • Free imaging services
  • Cash grant opportunities
  • Advertising credits
  • Startup funding

Black Ambition Prize

  • Competition for Black and Hispanic innovators
  • Awards range from $15,000 to $1,000,000
  • Access to capital, coaching, and community
  • Early-stage ventures in consumer products, healthcare, media, entertainment, technology and AI
  • Apply through May 6, 2024

The National Black Business Pitch

  • Pitch competition to connect Black-owned businesses with corps seeking to diversify supply chain
  • 30 finalists pitch to corporate procurement and supplier diversity professionals
  • Cash prizes up to $10,000
  • Submit applications by June 3

SheaMoisture Grant Programs

  • Supports small Black-owned businesses
  • Business development support
  • $100,000 grants through “The Next Black Millionaires” program
  • $10,000 grants through Community Impact Grant for U.S. Black-owned businesses operating for at least one year

The Wish Local Empowerment Program

  • Assists Black-owned businesses with 20 or fewer employees
  • Financial assistance between $500 to $2,000
  • Recipients must average annual revenue under $1 million
  • Flexibility in fund allocation
  • Recipients join Wish Local for access to its consumer base and partnerships

The Minnesota Emerging Entrepreneur Loan Program (ELP)

  • Grants for businesses in Minnesota owned by minorities, low-income individuals, women, veterans, and persons with disabilities
  • Provides grant funds to nonprofit lenders to offer loans to startup and expanding businesses
  • Helps create jobs for minority and low-income individuals
  • Strengthens minority-owned enterprises
  • Boosts economic growth in disadvantaged areas
  • Must apply through certified nonprofit lenders
  • DEED assists in lender identification
  • Loans are subject to DEED’s approval

Research and Technology Grants

The Blueprint Medtech Small Business Translator Grant

  • Small businesses developing medical devices for nervous system disorders
  • Supports making prototype devices, safety testing, and clinical studies for FDA approval
  • NIH helps plan and monitor research
  • Funding and access to regulations, patents, and manufacturing experts
  • Apply by June 20

Innovation Corps at NIH Program for NIH and CDC Translational Research

  • Small businesses working on medical projects supported by previous grants
  • Accelerate development and commercialization of new medical technologies
  • 8-week entrepreneurial program
  • Course program to learn more about their technology’s potential impact on customers and partners
  • Covers program expenses and travel costs
  • Apply by April 30

National Institute of Health Grants

  • Funding COVID-19 research
  • Small businesses that develop and research biomedical technology
  • Multiple grants
  • Application deadlines throughout 2024 and beyond

Small Business Innovation Research Program (SBIR)

  • Grants aid federal research and development for commercialization
  • Awards-based program
  • Supports scientific excellence and technological innovation
  • Must operate a for-profit company

National Institute on Disability, Independent Living, and Rehabilitation Research’s SBIR Program

  • Funding for technology and research advancement for the improvement of the lives of those with disabilities
  • Aids national social/economic benefits
  • Provides ten grants totaling $1 million
  • Find available grants through the Administration for Community Living

Small Business Technology Transfer Program (STTR)

  • Funds research in the R&D arena
  • Must have a formal collaboration with a research institution
  • Must operate a for-profit company
  • Meet other requirements to qualify

Small Business Digital Readiness Program

  • Supports small businesses seeking to advance in digital space
  • Digital readiness program
  • Free online curriculum includes expert coaching, peer networking, and other resources
  • $10,000 grant eligibility for participants registered in two courses
  • Rolling opportunity

The AI Innovation Grant

  • Funds artificial intelligence-based development
  • Open to U.S.-owned businesses
  • $10,000 grant
  • Apply by March 15

America’s Seed Fund

  • Provides funding for technology development
  • U.S.-based startups and small businesses
  • Up to $2 million in funding
  • Sponsored by the National Science Foundation
  • Submit project pitches on a rolling basis

Casper Accelerate Grant Program

Comcast Innovation Fund

  • Technology and research funding for Internet advancement
  • Areas of interest in open-source development, general and targeted research
  • Applications accepted until 2024 funds run out

The Emerging Technology Fund (ETF)

  • Assists growing companies in Massachusetts
  • Supports technology companies with need for acquisition, expansion, working capital, or equipment purchases
  • Must reflect strong management, technical advancements, market demand, and solid financial records
  • Loans up to $4,000,000

Businesses Affected by COVID-19 or Natural Disaster

Rebuild The Block

  • Grant program for Black entrepreneurs
  • Helps recipients connect with community members on a larger scale
  • Applicants must have been affected by COVID-19 or other destruction
  • 90 applicants per three-month cycle
  • Apply on grant page

Employee Retention Credit

  • Aids businesses impacted by COVID-19
  • Stimulus program via CARES Act
  • Refundable tax credit
  • Apply via IRS website

GoFundMe Small Business Relief Fund

  • Funding for small businesses impacted by COVID-19, backed by GoFundMe and other corporations
  • $500 grant
  • Must have raised $500 minimum via GoFundMe
  • Confirm business through online form

2024 Inclusive Beauty Fund

  • U.S.-based beauty businesses impacted by COVID-19
  • Offers one-time $10,000 grants
  • Professional mentorship and business development from L’Oréal executives
  • Applications due March 29 at 6:00 p.m. EST

Small Business Readiness for Resiliency Program

Etsy Emergency Relief Fund

  • Supports Etsy business owners who have been registered for at least one year
  • Grant up to $2,500
  • Funding partnership with CERF+ nonprofit
  • Businesses must have been affected by a natural disaster
  • Rolling application

Women-owned Business Grants

Women-Owned Small Business (WOSB) Federal Contracting Program

  • Access to credit and capital
  • SBA program Includes training, counseling, and federal contracts
  • Program through the Office of Women’s Business Ownership

Amber Grant Foundation

  • Awards a series of grants throughout the year to women entrepreneurs
  • $10,000 Monthly Amber Grant
  • $25,000 Annual Amber Grants
  • $10,000 each quarter for The Startup Grant and The Non-Profit Grant
  • $10,000 Business Category Grants
  • Applications open based on category

Cartier Women’s Initiative

  • Funds women entrepreneurs worldwide with a focus on social and environmental sustainability
  • Regional award
  • Diversity, equity, and inclusion award (open to all genders)
  • Science and technology pioneer award
  • Includes financial support, coaching, and peer learning opportunities

Galaxy Grants

  • Offers resources for women and minority business owners
  • $2,750 Galaxy Grant Giveaway
  • Opportunity for a grant for one friend of the winner
  • Sponsored by Hidden Star, a 501(c)(3) organization
  • 30-second entry process
  • Apply by March 31

HerRise MicroGrant

  • Funds U.S. businesses majority-owned by women of color
  • Focus on innovative community solutions
  • Applications reviewed monthly
  • Ineligible applicants include nonprofits, franchises, direct sellers, authorized resellers, and independent consultants

IFundWomen Universal Grant Application

The Kitty Fund

  • Awards $25,000 to 25 small business owners who are mothers
  • Must be U.S.-based and have annual revenues under $5M
  • Employment must be between two and 50 people
  • Register online


RTC Women in Tech Fund

SheaMoisture “Brown Girl Jane” Grant

LGBTQ+ Businesses

Foundation for a Just Society Grants

StartOut Scholarship Program

Veteran-led Businesses

Service-Disabled Veteran-Owned Small Business Program

Hivers and Strivers Investment Program

  • Provides capital for projects by veteran-owned and veteran-led businesses
  • Funding from $250,000 to $1 million
  • Submit business ideas on a rolling basis
  • Ineligible applicants include businesses reliant on government contracts

Warrior Rising

Other General Grants and Programs