The first year of business ownership is often the most challenging. Lack of funding and resources often contributes to hardships for new entrepreneurs. And underrepresented groups like women and minorities often don’t have the ability to get traditional business funding. But a new grant program from beauty brand Caress aims to help women of color during their first year of business ownership. Read about the opportunity and other small business grants below.
Caress Business Grant Awarding Up to $5,000 to Women of Color
Women’s beauty brand Caress is one of the founding partners of the iFundWomen of Color grant program. The company is now hosting its 2022 Dreams To Reality Fund to support businesses founded by women of color. The program will provide 150 grants to entrepreneurs who launched businesses in the last year. Each grant is worth between $1,000 and $5,000. Recipients will also receive one-on-one intensive coaching scholarships. And additional resources are available on the IFundWomen of Color online platform. Applications are available through March 4.
Roast Magazine Small Business Grant
Roast magazine offers a grant for small coffee businesses. Companies with at least two years in the coffee industry and 100 employees or less are welcome to apply. The program prioritizes applicants that aim to support employees, develop sustainable practices, innovate new solutions, and work toward equity and diversity. The winner will receive a $5,000 cash grant, along with features in Roast and Daily Coffee News. There’s a written and video component to the application; the deadline to apply is March 4.
Mississippi Power Minority-Owned Small Business Grant Program
The Jones County Chamber of Commerce and Mississippi Power are launching a Minority-Owned Small Business Grant Program. Chamber members in good standing can apply for grants of up to $3,000 for any project or improvement. Applicants must be a member of the Jones County Chamber of Commerce and a current Mississippi Power customer with fewer than 50 employees. Businesses must also be at least 51 percent minority-owned to be considered. The application deadline is March 25.
Manchester Small Business Grant and Program Assistance
Manchester, New Hampshire created this grant initiative in 2020 to support businesses suffering during the pandemic. The first round provided funds to 53 local businesses. And the latest round, which is funded through the American Rescue Plan Act offers up to $10,000 each. Funds can be used for various fixed business costs like rent, utilities, and payroll. Funds can also cover pandemic-related changes, like setting up an e-commerce storefront or outdoor space.
Kendall County COVID-19 Relief Program
The Kendall County Board recently approved about half the funding for its COVID-19 Relief Program. There’s still about $1 million left in funds. And the County Board is considering allocating more funds to the program. Grants may cover 25 percent of lost revenues between 2019 and 2020, up to $25,000. Applicants must demonstrate pandemic-related loss of revenue, have fewer than 50 employees, and be active since 2019. The deadline to apply is February 23.
Somers COVID-19 Small Business and Nonprofit Organization Grant Program
Somers, Connecticut recently created a grant program using American Rescue Plan Act funds. The program aims to help small businesses and nonprofits financially harmed by the pandemic. Businesses and organizations with fewer than 25 employees can apply for grants of up to $10,000. However, town officials may reduce the amount of some awards in order to help more businesses if there’s a high demand. The application deadline is March 31.
This article, “Caress Supports Female Entrepreneurs Through Their First Year of Business with New Grant Program” was first published on Small Business Trends