Grants for Minority-Owned Laundromats
A grant is an award of money from the federal government or a federal agency to an individual, business or agency to fund a project or for another purpose, such as running a business. A minority individual who owns a laundromat would be eligible to apply for grants offered to minority business owners.
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Types of Grants
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Most grants do not need to be repaid, but some grants are in the form of low or no-interest loans. Grants offered to minority individuals who own business are usually designed to assist with expansion, debt reduction or other business-related purposes.
Minority Defined
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The federal government considers American Indians, African Americans, Hispanics, disabled persons and women minorities. Some grants define minorities differently; grants aimed at minorities will identify the cultural groups it considers a minority.
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Finding Grants
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Grants for minority business owners can be found on the government's grant website. On this website users can search for grants by the type of award, eligible recipients and other information. Information on the requirements to apply for a grant are included on this website.
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References
- Photo Credit two dollar bill image by Joy Fera from Fotolia.com
