There are grants available specifically for businesses considered a minority or disadvantaged entity. Operating a business as a black woman means your business is considered disadvantaged, and there are many agencies that will help you obtain funds. In order to apply for such funding, your business has to be at least 51-per cent minority-owned.
Write a professional business plan. If your writing skills are not stellar, it is a good idea to hire someone to help you write it. A well-written plan can be the key to successfully obtaining a grant.
Get your business Sec8(a) certified. This is a disadvantaged minority business certification that allows your business to receive grants specifically designed for a minority business owner. The application is available through the Small Business Association. Once submitted, your application will be reviewed to decide if your business qualifies. This certification makes it easier for your business to receive funding.
Obtain a DUNNS number. If you are applying for any type of federal funds, you will need this number, which the government uses to classify your business. This number is required by most federal organisations and is used to keep track of how government money is awarded.
Register your business at www.grants.gov. This site is a resource for locating and applying for any type of federal funds, including minority grants. You can submit your application directly to your potential funding source by using the Funding Opportunity Number (FON) of the agency. The FON is a number that agencies use to identify the type of grants they offer.