Grants for Hispanics' Businesses

Investing in Hispanic businesses supports a growing workforce.

A community thrives from solid businesses providing jobs and services and paying taxes. Grant initiatives are reaching out to the Hispanic community, specifically, to make sure all business owners have a shot at financial help.

Grant types

Federal grants, such as the Community Block Development Grant, partner private businesses with cities on development projects. Some states have offices, such as the Tennessee Business Enterprise Resource Office, that guide new businesses though a start-up. Local city halls offer more information.

Significance

Between 2002 and 2007, Hispanic ownership of non-farm U.S. businesses jumped 43.5 percent to 2.3 million. Hispanics own 8.3 percent of all non-farm businesses in the United States and account for 1.6 percent of total employment. Investing in Hispanic-owned businesses means investing in the jobs of a significant portion of America.

Availability

Grants for private, for-profit businesses are rare. Organizations such as the Small Business Association, can more easily help a business secure loans, plan for the future and offer advice.

References

• Community Development Block Grant home page
• US Census Bureau: Survey of Business Owners
• Small Business Association home page