Rejected for a loan? Access $1M prizes, 0% equity funding, and Google-backed mentorship. Here are 11 elite resources built to scale Black-owned businesses.
Black entrepreneurs play an important role in the U.S. economy, with over 194,585 Black or African American–owned employer businesses, generating about $211.8 billion in annual receipts. However, they often face systemic barriers, such as limited access to capital and higher borrowing costs. Despite these challenges, numerous resources are available to support Black business owners. [1]
While every entrepreneur encounters challenges when starting and growing their business, for Black-owned businesses, those challenges are compounded by institutional racial barriers.
A study by the Kauffman Foundation noted that Black entrepreneurs start with about one-third of the capital compared to their white counterparts. [2]
Also a Forbes study found that minority business owners often face higher borrowing costs, smaller loans, and more loan rejections. Because of these and other barriers, only 4.3% of America's 22.2 million business owners are Black. [3] [4]
Fortunately, many programs, including grants, microloans, and mentorship programs, provide funding, education, and business development support for entrepreneurs of color. Here are some of the best small business resources for Black business owners.
Resources to Help Your Business Get the Funding it Needs
Accessing the right kind of capital at the right time is a bonus. Here are the top programs focusing on black-owned business investing opportunities and grants.
1. Accion
Accion is a global nonprofit microlending program that targets low- to moderate-income business owners who have trouble accessing capital through traditional channels. This can make Accion a great option for small business loans. Accion offers loans from $200 to $600,000 in all 50 states throughout the U.S. To apply, you can access the application for small business loans right on Accion's site. [5]
2. Grants.gov
Grants.gov offers entrepreneurs a single database to learn about and apply for federal grant opportunities from more than 20 agencies. These agencies award more than $500 billion annually to businesses of all shapes and sizes. This means that no matter the background or type of company you have, there's a good chance you'll find an opportunity available through this portal. [6]
3. Founders First Capital Partners
The Founders First Capital Partners offers a slightly different take on funding with "revenue-based investment" for service-based companies led by minority, veteran, or women founders. The organization offers entrepreneurs a flexible payback model, meaning payments are determined from cash flow instead of a set amount each month. This can be a huge advantage for entrepreneurs just starting out. On top of investments, the firm also has business accelerator programs and serves as a learning platform that can help business owners sharpen their skills. [7]
4. Backstage Capital
This venture capital fund invests in underrepresented founders, like women, people of color, and the LGBTQ community. To date, Backstage Capital has invested in more than 150+ companies. Its Entrepreneur Investment applications are assessed on a rolling basis. Companies at any stage and from any industry are encouraged to apply, but the organization recommends that applicants be prepared to prove and defend their value proposition to gain a competitive edge. [8]
5. The Local Initiatives Support Corporation (LISC)
This nonprofit organization aims to revitalize communities by supporting minority-owned businesses across the country through its Small Business Relief grant program. To date, LISC has provided over 4,000 entrepreneurs with grants totaling over $62 million during the COVID-19 pandemic alone. Businesses can learn more about how to qualify for the program by visiting LISC's website. [9] [10]
6. Black Ambition Prize
The Black Ambition Prize was founded by Pharrell Williams. It is a non-profit program that helps Black and Hispanic entrepreneurs grow their companies. It works as a competition that awards prizes ranging from $15,000 to $1 million.
This program is great for businesses in technology, healthcare, media, or consumer products. If you win, you don't just get cash; you also join the "Black Ambition Network." This gives you access to professional business coaching and connects you with investors who can help you scale. To apply, your business must be a for-profit company with at least one founder who is Black, Hispanic, or Latino. [11]
Resources To Help Your Business Grow
7. Minority Business Development Agency
The Minority Business Development Agency (MBDA) is the only government agency solely dedicated to the growth of minority businesses. A part of the U.S. Department of Commerce, the MBDA supports Black-owned businesses by guiding them through their questions on funding, contracts, and more. MBDA Business Centers are located in U.S. cities with a large presence of minority-owned businesses. [12] [13]
8. National Minority Supplier Development Council
The National Minority Supplier Development Council (NMSDC) connects business owners with the opportunities and partnerships they need to thrive. Today, the NMSDC helps more than 12,000 minority-owned businesses by matching them with large corporations that are looking to increase their supplier diversity. The NMSDC website has more information on how to begin the certification process to join. [14]
9. National Urban League
The National Urban League is a civil rights and urban advocacy organization that currently services more than 300 communities across the country. While the organization offers a wide variety of services to help those in need, they also focus on helping entrepreneurs of color who run their businesses as a sole proprietor.
The National Urban League's centers, which are located across 12 major cities like Atlanta, Chicago, Houston, and Los Angeles, provide counseling, mentorship, and training services for entrepreneurs in need of an extra push to get their business up and running on the right foot. The National Urban League lists the contact information for their 12 centers on their website. [15]
10. US Black Chambers
The U.S. Black Chambers (USBC) supports more than 130 African American chambers of commerce and business organizations throughout the U.S. At the local level, African American chambers promote and advocate for Black-owned businesses. Meanwhile, the USBC works at the national level to highlight and support Black-owned companies with a business directory, educational webinars, and informative content like podcasts to guide and inspire Black entrepreneurs through their business journey. [16]
11. Google for Startups: Black Founders Fund
Instead of just a network, this is a massive support system that has provided over $25 million in funding to Black-led startups. The fund is a top resource for tech entrepreneurs who need "non-dilutive" capital (meaning you don't give up any ownership of your company)
If you are selected, you don't just get a check. You get:
- Direct Funding: Grants to help you hire and build.
- Google Credits: Free access to Google Cloud and Ads to scale your business.
- Expert Mentorship: 1-on-1 sessions with Google engineers and business experts to solve your specific technical or growth problems. [17]
The Bottom Line
Getting started, and staying afloat, is a challenge for any business. But for Black-owned businesses, systemic racism amplifies those challenges.
Still, Black entrepreneurs continue to start small businesses at an ever-increasing rate, adding vitality to the national economy while empowering the communities they're in. While there undoubtedly remains room for improvement, tapping into the vast, nationwide-network of support and resources can help Black entrepreneurs turn their dreams, talents, and ideas into a thriving small business.
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FAQ’s
How to support a Black-owned business?
The best way is to vote with your wallet! Shop with them consistently and share your positive experiences on social media. Word-of-mouth and online reviews are powerful marketing tools that help these businesses grow and reach new customers in your community
What companies support Black people?
Many major brands have dedicated programs, such as Amazon’s Black Business Accelerator, Google for Startups, and Goldman Sachs’ Black in Business. These companies provide more than just funding; they offer technical tools, retail space, and professional education to help Black entrepreneurs scale.
What organization supports Black rights?
The NAACP and the National Urban League are two of the most established organizations. They fight for civil rights while also providing economic programs, like job training and business mentorship, to ensure Black communities have the resources to thrive both legally and financially.
What is the best funding option for a new Black-owned startup?
There is no one best option for every startup. For many new founders, the smartest first step is often a mix of personal savings, small business grants, and low-risk loans from trusted nonprofit or community lenders. If the company is scalable and growth-focused, accelerator programs or founder funds may also help. The right choice depends on your business model, revenue stage, and whether you can take on repayment
What government programs support Black-owned businesses?
The main federal resource is the Minority Business Development Agency, part of the U.S. Department of Commerce. MBDA helps minority-owned businesses access capital, contracts, export support, and business assistance through its network of centers and programs. Black-owned businesses may also find grant opportunities through Grants.gov, which lists federal funding opportunities from many agencies, though not every listing will fit every business.
What grants are available for Black-owned businesses?
In 2026, top options include the NAACP Powershift Entrepreneur Grant ($25,000) and the Black Ambition Prize (up to $1 million). You can also find federal opportunities on Grants.gov or local community grants through organizations like LISC.
Bibliography
- United States Census Bureau. Census Bureau Releases New Data on Minority. Accessed on 11 March, 2026.
- Ewing Marion Kauffman Foundation.Startup Financing Trends by Race. Accessed on 11 March, 2026.
- Forbes. Minority-Owned Businesses Come Up Short in Access to Capital. Accessed on 11 March, 2026.
- Brookings. Five-star reviews, one-star profit. Accessed on 11 March, 2026.
- Accion Opportunity Fund. Business loans for small businesses like yours. Accessed on 11 March, 2026.
- Grants.gov.Home page. Accessed on 11 March, 2026.
- Founders First Capital Partners. Our Solutions. Accessed on 11 March, 2026.
- Backstage Capital. Less than 10% of all venture capital deals go to Women. Accessed on 11 March, 2026.
- Local Initiatives Support Corporation.Grants to Small Businesses. Accessed on 11 March, 2026.
- Local Initiatives Support Corporation. Grant Information & FAQ. Accessed on 11 March, 2026.
- Black Ambition. Congratulations 2025 Prize Winners. Accessed on 11 March, 2026.
- MBDA. Empowering Minority Business Enterprises. Accessed on 11 March, 2026.
- MBDA. Minority Business Enterprise Resources. Accessed on 11 March, 2026.
- NMSDC. The National Network for Buyers and Trusted Supplier Certification. Accessed on 11 March, 2026.
- National Urban League. Empowering Communities. Changing Lives. Accessed on 11 March, 2026.
- U.S. Black Chambers, Inc. Power the legacy fund the future title. Accessed on 11 March, 2026.
- Google for Startups. Black Founders Fund. Accessed on 11 March, 2026.