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The Small Business Administration has information on loans and grants for small businesses provided by the CARES Act. You may be eligible even if you operate as a sole proprietor.
Administered through the SBA, the 8(a) Business Development Program helps to provide a level playing field for small businesses owned by socially and economically disadvantaged people or entities. The government limits competition for certain contracts to businesses that participate in the 8(a) Business Development program.
Shea Moisture has stated that they will be using their Community Commerce Fund to aid women of color entrepreneurs and owners of minority-owned businesses that have been affected by COVID-19. They have vowed to set aside $1 million. The grant and supportive measures will highlight the power of small businesses and how they help communities, while also minimizing the financial disruptions many are experiencing from the global outbreak. Shea Moisture plans to collaborate with WeBuyBlack, the largest marketplace for Black-owned businesses, to award relief funds throughout the month of April.
The National Association for the Self Employed offers growth grants. You DO have to be a member to apply. Small business grants are useful for financing a particular small business need. Past recipients used their growth grants for computers, farm equipment, to hire part-time help, marketing materials, website creation and more. What does your business need?
Grants and loans are available for minority owned businesses.