In 2024, startups led by Black founders in the U.S. received just 0.4% of the total funding, the smallest share in recent years and a drop of more than two-thirds compared to three years earlier. While overall startup funding grew to $314 billion, only $730 million went to Black founders!
In this guide, we’ll explore:
How Black women entrepreneurs can access specialized grants of $10,000+ through targeted programs
17 specialized funding opportunities for Black entrepreneurs, from corporate grants to pitch competitions
Real success stories from founders who secured grants to grow their businesses by 75%+
PS., Teams using AI-powered grant writing tools like Grantboost can handle their entire monthly grant workload in the time it used to take to complete just one application. Stick around to learn how they’re doing it 😉
Ready? Let’s go.
For individuals and teams looking to secure more funding with less effort. Streamline your grant-writing process, stay organized, and achieve better results with proven templates and AI-driven support.
| Grant Name | Amount | Deadline | Eligibility | Focus Area |
|---|---|---|---|---|
| Black Ambition Prize | Up to $1M | May 2, 2025 | Teams with Black/Hispanic founders | Tech, AI, Healthcare, Media, Consumer |
| Google for Startups Black Founders Fund | Up to $100K + $120K Cloud credits | Q2 2025 (TBA) | Black-led startups with traction | Technology-focused ventures |
| NAACP Powershift Grant | $25,000 | Nov 1, 2025 | Black entrepreneurs | All sectors |
| Comcast RISE | $5,000 + resources | May 31, 2025 | Small businesses in select cities | All sectors |
| NBMBAA Scale-Up Pitch | $50K (1st), $10K (2nd), $7.5K (3rd) | TBA for 2025 | Black founders with equal ownership | Early-stage concepts |
| Tory Burch Fellows | $5,000 + 0% loans | Nov 1, 2025 | Women-owned businesses (51%+) | 1-5 year businesses |
| SoGal Black Founder Grant | $5K-$10K | Rolling | Black women/nonbinary entrepreneurs | Scalable ventures seeking investment |
| Amber Grant | $10K monthly + $25K annual | Monthly (30th) | 50%+ women-owned businesses | All sectors |
| HerRise Micro-Grant | $1,000 monthly | Last day of month | 51%+ women of color-owned | Under $1M revenue |
| Lenovo Evolve Small AI | $25K + $10K tech solutions | Feb 17, 2025 | Small businesses in select cities | AI implementation |
Black entrepreneurs face systemic barriers when seeking capital for their businesses. In 2023, Black founders in the US received only 0.48% of total venture capital funding, amounting to approximately $661 million out of a total $136 billion.
This funding disparity stems from historical inequities, limited access to networks, and systemic biases in traditional funding models. The result is a significant opportunity gap that prevents many promising Black-owned businesses from reaching their full potential.
However, the landscape is gradually changing. Following social movements in 2020, many corporations, foundations, and government agencies have launched initiatives specifically designed to support Black entrepreneurs. These targeted grant programs aim to provide not just funding, but also mentorship, resources, and networking opportunities essential for business success.
Funding Amount: $5,000 grants plus marketing and technology resources
Eligibility: Small businesses located in Boston, MA; Grand Rapids, MI; Nashville, TN; Seattle, WA; or South Valley, UT
Application Deadline: Opens May 1, 2025; closes May 31, 2025
How to Apply: Comcast RISE website
Comcast RISE will award approximately 500 winners with a comprehensive package including a $5,000 cash grant, business consultation services, educational resources, creative production, media schedule, and a technology makeover.
The program specifically targets small businesses in selected geographic areas, making it ideal for entrepreneurs in those regions looking for both financial support and business development resources.
Funding Amount: The exact funding amount for 2025 has not been specified yet. In previous years, the fund provided up to $150,000 in equity-free cash awards, along with Google Cloud credits and mentorship.
Eligibility: Black-led startups with demonstrated traction and growth potential
Application Deadline: Applications typically open in Q2 (check website for 2025 dates)
How to Apply: Google for Startups website
Google’s Black Founders Fund provides non-dilutive cash awards to Black-led startups that have demonstrated traction in their markets.
Recipients also receive Google Cloud credits, advertising support, and hands-on assistance from Google experts across product, design, and technical challenges.
Application Tip: Emphasize how your startup leverages technology to drive innovation, as this is a key factor in Google’s selection process.
Funding Amount: The prize is tiered, with the grand prize being $1 million. Additional teams may receive funding ranging from $20,000 to $100,000, depending on their stage and needs.
Eligibility: Businesses with at least one founding team member who is Black or Hispanic/Latino
Application Deadline: February 24, 2025 - May 2, 2025
How to Apply: Black Ambition Prize website
The Black Ambition Prize supports businesses with founding team members from underrepresented backgrounds. The competition focuses on ventures in consumer products/services, media & entertainment, healthcare, tech, or AI.
Teams must include at least two members, with at least one founder from a traditionally overlooked background. The program includes not just substantial funding but also mentorship and networking opportunities through a structured program running from application to the final demo day in November 2025.
Funding Amount: $25,000
Eligibility: Rising and established Black entrepreneurs and businesses
Application Deadline: Applications open October 24, 2025; close November 1, 2025
How to Apply: NAACP Powershift Entrepreneur Grant website
This grant empowers Black entrepreneurs with funding and resources. Winners receive not only financial support but also mentorship from Shark Tank’s Daymond John and the opportunity to join him during the Black Entrepreneurs broadcast event in Atlanta.
Selected applicants will be notified for final interviews by November 15, with winners needing to be available for the announcement event from November 20-22, 2025.
Funding Amount: $5,000 and $10,000 grants
Eligibility: Black women or Black nonbinary entrepreneurs with legally registered businesses, seeking investor financing, and offering scalable solutions
Application Deadline: Rolling basis
How to Apply: SoGal Foundation website
The SoGal Foundation focuses on closing the diversity gap in entrepreneurship and venture capital. Their Black Founder Startup Grant provides both funding and access to SoGal’s extensive network of investors, mentors, and fellow entrepreneurs.
To qualify, you must self-identify as a Black woman or nonbinary entrepreneur (including multiracial individuals), have a legally registered business, plan to seek investor financing, and have a scalable solution with high growth potential.
Funding Amount: $5,000 education grant plus access to 0% interest loans
Eligibility: Women entrepreneurs who own the largest or equal stake (at least 51%) in their business, operating for 1-5 years, preferably generating at least $75,000 in revenue
Application Deadline: September 24, 2025 - November 1, 2025 (applications are closed for now, but it’s a recurring annual program)
How to Apply: Tory Burch Foundation website
While not exclusively for Black founders, the Tory Burch Foundation Fellows Program has been a significant source of funding and resources for women of color in business.
Each year, the foundation selects 50 women entrepreneurs for a yearlong fellowship that includes a $5,000 education grant, access to no-interest loans through Kiva, workshops, coaching sessions, and networking opportunities.
The program culminates with an in-person experience where fellows can present their companies and connect with industry leaders.
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Funding Amount: $50,000 (first place), $10,000 (second place), $7,500 (third place), plus a $1,000 People’s Choice Award
Eligibility: At least one founder must be Black and maintain at least equal ownership stake; at least one team member must be an active NBMBAA member
Application Deadline: The application deadline for the 2025 Scale-Up Pitch Challenge is August 4, 2025.
How to Apply: NBMBAA Scale-Up Pitch Challenge website
This annual pitch competition offers Black entrepreneurs the chance to showcase their businesses to investors and industry leaders.
Beyond the substantial cash prizes, participants benefit from visibility, networking opportunities, and valuable feedback from experienced judges. The competition is designed for early-stage ideas or concepts, and all submissions must be the original work of the individual or team pitching.
Funding Amount: $10,000 (first place), $6,000 (second place), and $2,000 (third place)
Eligibility: Revenue-generating businesses that are majority (51%) women-owned and in good standing
Application Deadline: The application deadline for the Austin pitch competition is April 26, 2025.
How to Apply: Black Girl Ventures website
Black Girl Ventures uses a unique crowdfunded pitch competition model to provide capital to Black and Brown women entrepreneurs. Their events create a supportive community atmosphere where founders can showcase their businesses and receive both funding and valuable connections. Only seven founders are selected for each pitch competition, so make your application stand out by clearly demonstrating your business traction and community impact.
Funding Amount: Varies (check website for 2025 details)
Eligibility: Underrepresented founders, including Black entrepreneurs
Application Deadline: Check back in 2025 for new announcements
How to Apply: Backstage Capital website
Although not currently accepting new applications, Backstage Capital has announced they will have new funding opportunities in 2025.
Founded by Arlan Hamilton, Backstage Capital has made it their mission to invest in underrepresented founders, including Black, LGBTQ+, and women entrepreneurs. Their accelerator program typically provides funding, mentorship, and connections to a larger pool of investors.
Funding Amount: Monthly awards of $10,000 plus annual $25,000 grants
Eligibility: Businesses that are at least 50% women-owned, located in the U.S. or Canada
Application Deadline: The application deadline for the April 2025 Amber Grant is April 30, 2025
How to Apply: Amber Grant website
The Amber Grant Foundation has been supporting women entrepreneurs since 1998. Each month, they award three $10,000 grants, and monthly winners become eligible for one of three $25,000 year-end grants.
The application process is refreshingly simple…just answer two questions about yourself and your business dreams, and pay a $15 application fee. Winners are announced by the 23rd of the month following application.
Funding Amount: $1,000 monthly micro-grants
Eligibility: Businesses that are 51% owned by women of color, registered in the U.S., with less than $1 million in gross revenue
Application Deadline: Last day of each month at 11:59 PM
How to Apply: HerRise website
These monthly micro-grants provide timely support for specific business needs. The application process is streamlined—simply share your business story through their online form by the last day of the month.
Winners are announced at the following month’s HerSuiteSpot First Friday Mixer, though attendance is not required to win. While the grant amount is modest, the monthly frequency makes this an accessible opportunity for busy entrepreneurs.
Funding Amount: $5,000
Eligibility: Black entrepreneurs making history in their communities
Application Deadline: Annual program
How to Apply: Citi Trends Grant website
In celebration of Black History Month, Citi Trends offers grants for Black entrepreneurs who are making a difference in their communities. The application process focuses on your business impact story and how you’re creating positive change locally.
Funding Amount: $5,000 plus ZenBusiness services
Eligibility: U.S.-based businesses formed within the past 3 to 6 months
Application Deadline: Applications are accepted from January 1 through December 31, 2025 (reviewed quarterly)
How to Apply: ZenBusiness $5K Grant Program website
This grant targets very early-stage businesses, making it perfect for entrepreneurs who have recently formalized their business structure. In addition to the cash grant, recipients receive select ZenBusiness services to help improve business operations and compliance.
Funding Amount: $500 - $2,000
Eligibility: Black-owned businesses with fewer than 20 employees and annual revenue under $1 million
Application Deadline: Rolling
How to Apply: Wish Local Empowerment Program website
This program offers smaller grants that can help with specific business needs like inventory purchases, marketing campaigns, or equipment upgrades. The rolling application process means you can apply when it makes the most sense for your business timeline.
Funding Amount: $1,000
Eligibility: Small business owners
Application Deadline: Rolling
How to Apply: Hustler’s Microgrant website
This monthly grant supports passionate entrepreneurs in their small business ventures. The application process is straightforward and focuses on your business story and how the grant would impact your growth.
Funding Amount: $25,000 plus $10,000 in custom tech solutions
Eligibility: Small businesses located in Atlanta, Chicago, Dallas, Houston, Los Angeles, Miami, San Diego, Toronto, Washington DC, or Vancouver
Application Deadline: February 17, 2025
How to Apply: Evolve Small AI Grant website
This grant supports small businesses with both funding and technology solutions. It’s specifically designed to help businesses advance their operations through AI implementation, making it ideal for tech-forward entrepreneurs.
Funding Amount: Up to $10,000
Eligibility: Black business owners
Application Deadline: June 9, 2025
How to Apply: National Black Business Pitch website
This annual competition selects finalists to pitch their businesses in front of a virtual audience, with three winners receiving prizes of up to $10,000. The competitive format provides not only potential funding but also valuable pitching experience and visibility.
For individuals and teams looking to secure more funding with less effort. Streamline your grant-writing process, stay organized, and achieve better results with proven templates and AI-driven support.
Read Next: How Long Does It Take to Get a Grant? Your Essential Timeline Guide
Showcase Your Unique Perspective: “Growing up in Atlanta’s West End shaped how I approach fintech solutions for underbanked communities because I’ve lived the problem I’m solving.” Connect personal stories to business strengths.
Align with the Grant’s Mission: If applying to Black Girl Ventures, emphasize how your business promotes economic advancement for Black women specifically, using their language like “creating access to social and financial capital.”
Develop a Detailed Implementation Plan: “Month 1: Hire two developers ($15K), Month 2-3: Complete beta testing with 50 users, Month 4: Launch v1.0.” Precise timeline with dollar amounts.
Demonstrate Community Impact: “Our program will train 75 South Chicago residents in coding by 2026, with projected salary increases of $25K+ per graduate.” Specific numbers matter.
Prepare Strong Financial Documentation: Include 3-year projections with conservative, moderate and aggressive scenarios. Show grant funds directly tied to growth metrics like “customer acquisition cost decreasing from $82 to $38.”
Grantboost is an innovative AI-powered grant writing tool designed to streamline and simplify the grant application process for nonprofits and professionals.
AI-Powered Proposal Generation: Automatically creates tailored grant proposals based on your organization’s details and specific funding opportunities.
User-Friendly Survey Input: Quickly get started by completing a simple survey that outlines your team, mission, and funding goals.
Customizable Proposal Drafts: AI generates proposal drafts aligned with industry best practices, with easy options to edit and customize them to reflect your organization’s voice.
| Without Grantboost | With Grantboost |
|---|---|
| Manual and time-consuming grant writing process | AI-powered automation speeds up proposal creation, reducing time and effort significantly |
| Vague, one-size-fits-all proposals | Customizable, tailored proposals that align with your organization’s specific voice and needs |
| Struggling to match grant criteria effectively | AI-driven analysis that tailors responses to directly address each grant’s unique requirements |
| Unclear if proposals will resonate with funders | Data-backed insights to refine proposals and boost success rates |
| Rushed, last-minute submissions | Streamlined, organized workflow, giving ample time for review and refinement |
Grammarly: Ensures your writing is clear, professional, and error-free
Canva: Creates professional visuals for your application
Asana or Trello: Helps manage application timelines and tasks
Google Workspace: Facilitates collaboration on application documents
Read Next: Best AI Grant Writing Tools (2025)
Major corporations are expanding their diversity initiatives with multi-year commitments to support Black-owned businesses. Companies like Apple, JPMorgan Chase, and Google have announced significant funding programs that will continue through 2025 and beyond.
Future grant programs are likely to emphasize long-term business sustainability rather than just startup funding. Look for more programs that combine capital with education, mentorship, and ongoing support to ensure funded businesses thrive.
As technology continues to drive economic growth, more funding opportunities are emerging specifically for Black founders in tech. Programs like Black & Brown Founders and Black Tech Nation Ventures are expanding their support for tech entrepreneurs.
Recent federal initiatives aim to increase access to capital for underrepresented founders. The Biden administration’s focus on racial equity in economic policy may lead to expanded SBA programs and new funding opportunities through various federal agencies.
The landscape for Black founder funding is gradually improving, with more organizations recognizing both the historical funding gap and the tremendous opportunity in supporting diverse entrepreneurs.
While applying for grants requires time and effort, the potential rewards—both financial and in terms of connections and visibility—make it well worth pursuing.
By leveraging tools like Grantboost to streamline the application process, you can apply for more opportunities and increase your chances of securing the funding your business needs to thrive.
Are you ready to take your grant applications to the next level? Start your free Grantboost trial today and see how our AI-powered platform can help you create compelling grant applications in a fraction of the time.
For individuals and teams looking to secure more funding with less effort. Streamline your grant-writing process, stay organized, and achieve better results with proven templates and AI-driven support.
Most grant applications require:
Business registration documents
EIN or Tax ID number
Financial statements (profit & loss, balance sheet)
Business plan or executive summary
Proof of ownership (showing 51%+ Black ownership)
Personal and business bank statements
Detailed budget for grant funds usage
Business owner biography or resume
Yes, you can and should apply for multiple grants simultaneously to increase your chances of securing funding. However, make sure to customize each application to address the specific requirements and objectives of each grant program.
BTW, Grantboost can help you with that by analyzing grant details and automatically generating customized proposals for each one, so you can efficiently apply to multiple grants without starting from scratch each time.
Some grants specifically target early-stage businesses, while others require at least 6-12 months of operation.
Focus on both quantitative metrics (jobs created, people served, revenue generated) and qualitative outcomes (community benefits, problem-solving, representation).