The United States government offers grants to minorities interested in starting their own businesses. The grants help minority-owned startups overcome financial obstacles, such as trouble getting approved for business loans. Such grants provide minority business owners with money that never has to be paid back. Some state and local governments and private organizations also offer startup grants for minority owners.
Register on the federal government’s Grants website, Grants.gov. If you want to apply for government grants, registration is required. You must provide basic background information such as your name, address and Social Security Number.
Write a grant proposal. Clearly state who you are, why you are seeking a grant, the type of business you want to start and how much you are asking for in grant funds. Identify yourself as a minority. Explain any hardships you have overcome. You should also highlight how receiving the grant will benefit the community. Include letters of support from local organizations. It may be a good idea to include a project budget to show the grant writers the actual expenses and how you plan to use the grant money.
Search for grants with application criteria that you meet. You can apply for minority grants and small business grants. There are various grants on the government’s website sorted by category. You can use keywords to filter the search. You may even want to narrow the grant based specifically on your ethnicity or type of business. Also search your state government’s website for grants, as well as research private organizations near you. For example, Operation HOPE is an organization in Southern California that has provided millions of dollars to minority business owners.
Submit your application. Complete the necessary steps to finish the application. Attach your grant proposal along with the application. Check the deadline to make sure your application is submitted in time.
Wait for a response. The response time may be slow, depending on the number of applications received for a particular grant. You will be contacted if your application is approved or if further information is required.