How to Apply for Women- and Minority-Owned Business Grants

Grants for women-owned and  minority-owned businesses are funded primarily by the private sector.
Grants for women-owned and minority-owned businesses are funded primarily by the private sector. (Image: Jupiterimages/Goodshoot/Getty Images)

While most grants to women- or minority-owned businesses come from nonprofits and educational institutions, the U.S. government offers two resources -- the Small Business Administration and the Minority Business Development Agency -- to help you research grants in both the public and private sectors. In general, private organizations offer grant programs with much narrower target groups, those whose missions are consistent with their own. The key to winning grants is to select an organization closely aligned with your business goals and write a grant application to showcase why your business would help the funder as much as it would help you.

Contact organizations devoted to helping businesses owned by women or minorities for assistance in locating specific grant programs that will focus on your area of business. The Small Business Administration has local offices and runs the Office of Women's Business Ownership. The Minority Business Development Agency is another government-sponsored organization that offers help locating specific resources.

Select grant-making programs that match your business or professional goals. Research the organization's background and grant-awarding history to see what programs it has funded in the past so you can be sure your business meets the requirements. Read news releases about the organization and the businesses that have received grants from it.

Download all necessary forms and instructions for writing your grant application. Collect required information and contact the organization if you need additional help or instructions. If you're new to the process, grant-making organizations often are willing to offer assistance.

Write your grant proposal. Include all specific information required by the funder, and emphasize why your business meets its goals and can carry out its mission. This is where your prior research will pay off. Address all specific questions or requirements to prove your business is minority- or women-owned and include professional biographies for members of your executive team.

Include your business model and plan, providing a detailed explanation of how you intend to use the grant money. Attach any additional required material and follow the directions for submitting the application to the organization. If required, include a cover letter or introduction.

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