What are the top available grants for minority-owned businesses

1. What are the top available grants for minority-owned businesses?

2. INTRODUCTION Minority-owned businesses make for the backbones of the USA’s economy. Over the past decade, minority-owned businesses have made about 4.7 million jobs. Today, there are over 4 million minority- owned businesses in America with sales that have totaled nearly $700 million. Despite the growing importance of minority-owned businesses, they still have to face a combination of obstacles, especially, when it comes to business funding or financing. Minority- owned businesses are always less likely to be sanctioned loans than majority-owned ones. And, even if a minority-owned business manages to get funding from any lenders, they are usually smaller on average, i.e. $149,000 Vs $310,000.

3. What factors qualify as a minority-owned business? The federal agencies and many other corporations consider this an ideal practice to do business with minority-owned firms; therefore, they typically reserve a percentage of the budget to function with licensed and practiced MBEs (Minority Business Enterprises). Here’re the criteria for MBEs to have received grants. U.S. citizenship A minimum of 51% of U.S. businesses are owned and operated by the minority. If it’s a publicly-traded company, a minimum of 51% of the stock is run by minority group members. The company has to be a profitable enterprise, located in the U.S. or trust territories Daily operations and management should be practiced by the minority ownership member(s) Minority business owners often face challenges while setting off or expanding a small-scale business, including gaining access to inexpensive small-business loans. Financial assistance and business grants help bridge the financing gap. Here are the top small-business grants for minority-owned businesses. America's Got Grant also has compiled a list of the most feasible minority-owned business grants:

4. 1. Grants.gov Grants.gov enables prospective minority-owned businesses to find and accordingly apply for financing opportunities. Grants.gov consists of information on over 1,000 grant programs across multiple federal grant-development agencies, including the Department of Commerce and the U.S. Small Business Administration. To avail of federal grants, the business applicant must obtain a DUNS number from Dun and Bradsheet for the business; register to do business with the U.S. government using its System Award management, and have an account created at Grants.gov. The USDA Rural Business Development Grant Program The USDA grant is for the development and expansion of minority-owned businesses in rural regions. To qualify and apply for this grant, the minority-owned business must have 50 or fewer new staff, less than $1 million in gross revenue, and be located in an eligible rural territory National Association for the Self-Employed This is a non-profit trade associated, dealing in educational resources and grants for minority businesses. To apply for this grant of up to $4,000, one has to become an active member of this association, provide a valid and thorough explanation of how the fund is going to be utilized, prove that the grant is going to be supportive of the business’ growth and also provide supporting documentation. Register with America's Got Grant to gain access to the latest grant opportunities for minority businesses. There is a research team adding new grant opportunities on a daily basis. In addition, America's Got Grant provides resources on grant creation and the smartest approach to winning one.

5. CONTACT INFORMATION https://www.americasgotgrants.com/

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