Skip to main content

Original text


Powered by Google TranslateTranslate
Powered by Google TranslateTranslate
Local Funding Sources for Minority Owned Businesses
>
August 18, 2022
Rating
¡Apoye a la comunidad empresarial de San Juan Metro!

Grant & Funding Options

LISC-Lowe's Rural Relief Small Business Grants Program

  • Rural
  • Upcoming Round: January 26 - February 2, 2021

Requirements:

  1. Small businesses located in rural communities
  2. A population of 50,000 or less

National Association for the Self-Employed (NASE) Growth Grant

  • Up to $4000
  • Completed applications received in January, February, and March will be reviewed in April

Requirements:

  1. Be a member in good standing
  2. Demonstrate a business need that could be fulfilled by the grant
  3. Provide a detailed explanation of how you will use the grant proceeds
  4. Show how the grant will improve your business growth and success
  5. Offer supporting documentation such as a resume and business plan

USDA: Water & Waste Disposal Loan & Grant Program

This program provides funding for clean and reliable drinking water systems, sanitary sewage disposal, sanitary solid waste disposal, and stormwater drainage to households and businesses in eligible rural areas.

  • Rural areas or towns with a population of 10,000 or less, tribal lands in rural areas, or colonials
  • Loan term: 40-year payback period; Fixed interest rates

Requirements:

  1. Must be in the field of water or waste disposal in an eligible area
  2. Funds may be used to finance the acquisition, construction, or improvement of:
    1. Drinking water sourcing, treatment, storage, and distribution
    2. Sewer collection, transmission, treatment, and disposal
    3. Solid waste collection, disposal, and closure
    4. Storm water collection, transmission, and disposal

National Minority Supplier Development Council (NMSDC) Business Consortium Fund

  • Minimum: $100,000

Requirements:

  1. 3 years of business operations
  2. A business relationship with at least one NMSDC corporate member
  3. Positive future business prospects
  4. The capacity to repay the loan as articulated in a statement of financial condition
  5. Earnings and cash flow history
  6. Earnings and cash flow forecast
  7. Management experience
  8. Available collateral

Small Business Administration Microloans

Microloans are available through certain nonprofit, community-based organizations that are experienced in lending and business management assistance. Individual requirements will vary.
To apply for a Microloan, work with an SBA-approved intermediary in your area. SBA-approved lenders make all credit decisions and set all terms for your microloan. To find an authorized microlender near you,  contact your local  SBA District Office.
The maximum repayment term allowed for an SBA microloan is six years
Interest rates: Generally, between 8 and 13 percent

  • Each intermediary lender has its own lending and credit requirements
  • Up to $50,000
  • On average: $13,000

Requirements:
Each intermediary lender has its own lending and credit requirements. Generally, intermediaries require some type of collateral as well as the personal guarantee of the business owner.

The Halstead Grant

  • A cash grant of $7,500 plus $1,000 toward Halstead jewelry supplies
  • August 1st, 2021

Requirements:
Women entrepreneurs specifically in the jewelry industry.

SHARE THIS ARTICLE
CONNECT
300 Preston Avenue
}
Charlottesville, VA 22902
(434) 295-6712

Copyright © 2024 SCORE Association, SCORE.org

Funded, in part, through a Cooperative Agreement with the U.S. Small Business Administration. All opinions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA.

In partnership with
Jump back to top