Business Resources
May 2024 Grants & Resources For Black-Owned Beauty Brands
Level up your business with these free grants and resources.
Each month, Sadiaa Black Beauty Guide updates our list of funding opportunities for beauty entrepreneurs and brand owners to which can apply, pitch or submit. What better way to kick off the New Year than with a new round-up of grants and resources for your business?
Scroll through to get into opportunities you can apply or tap in to help you level up your business for 2024.
Black Ambition Prize & Black Ambition HBCU Prize
Founded in 2020 by Pharrell Williams, this groundbreaking opportunity provides funding, resources, and mentorship from top industry leaders to help Black & Hispanic entrepreneurs.
The HBCU Prize will award a $250K grand prize to a current or former student from historically Black universities and colleges to develop seed or early-stage ideas. At least nine additional teams will receive smaller prizes starting at $15,000. The General Prize competition will award an early-stage company with up to $1 million, along with mentorship, pitch coaching, and design support.
The businesses have to have at least one founding member in a senior role who identifies as Black/African/African American and/or Hispanic/Latino/a/Latinx. In addition, the entrepreneurs must work within AI, media and entertainment, tech, healthcare, and consumer products and services.
Deadline: May 8, 2024 at 6pm PT
Apply here: blackambitionprize.com
Creators’ Momentum Business Accelerator
Accion Opportunity Fund has launched the Creators’ Momentum Business Accelerator, in partnership with Etsy’s Uplift Fund, to provide 100 entrepreneurs within the creative economy (Including hair, beauty, cosmetics and personal care products/services) access to grant capital and education. Selected applicants will participate in a virtual eight-week program with self-paced online courses, seminars, networking opportunities, and $5K grant upon completion.
Deadline: May 13, 2024 at 5pm ET
Apply here: aofund.org
2024 BMO Celebrating Women Grant
The BMO Celebrating Women Grant Program, in collaboration with Deloitte, will award 15 women-owned businesses with a $10K grant to take their businesses to the next level. Any type of business growth will be considered whether expanding into a new market or creating a new product/service. Must be at least 51% owned or controlled by women or by individuals who self-identify as women and be a for-profit business
Deadline: May 14, 2024 at 8pm ET
Apply here: bmo.com
Cécred x BeyGOOD Salon Business Grant (Atlanta, Chicago, Houston, Los Angeles, and New Jersey)
Beyoncé’s BeyGOOD and Cécred have teamed with the National Minority Supplier Development Council (NMSDC) to provide $10K grants to 25 hairstylists. This grant is open to salon owners and operators, booth renters, and, even, work-from-home hairstylists. You just need to be licensed for at least two years per regulations in your state. Qualified hairstylists must be based in one of five key markets: Atlanta, Chicago, Houston, Los Angeles, and New Jersey. One hairstylist from each market will be selected every other month, beginning in April, throughout 2024. .
Upcoming Deadlines: May 20, 2024; July 20, 2024; September 20, 204; and November 20, 2024.
Apply here: nmsdc.org
Bank of America’s Supplier Diversity Small & Diverse Business Scholarship
The Supplier Diversity Small & Diverse Business Scholarship is designed to provide qualified certified small and diverse business owners with financial support to receive training and educational programs they need to improve their business operations and/or competitiveness in their market. Sponsored by Bank of America, the program will award up to 30 one-time $10K grants.
Deadline: May 23, 2024
Apply here: Scholarship America
Fund Her Future
Block Advisors by H&R Block is providing $100K in grants to five woman-owned businesses, along with small business services such as small business taxes, bookkeeping, payroll, and business structure analysis. One grand prize winner will receive a 50K grant, with remaining finalists received $12.5K each.
Deadline: May 26, 2024
Apply here: blockadvisors.com
Comcast RISE
Comcast RISE is back and now open to all small businesses. The latest grant round will award 500 recipients with a grant package that includes business consultation services, educational resources, a monetary grant, creative production, media schedule, and a technology makeover. The grant is open to businesses in the following five cities:
- Atlanta, GA
- Houston, TX
- Jacksonville, FL
- Richmond, VA
- Southern Colorado
Businesses must have established operations for a minimum of three years, be independently owned and operated, and generating revenue for the last 12 months.
Deadline: May 31, 2024 @ 11:59PM ET
Apply here: Comcast.com
The Goldman Sachs 10,000 Small Businesses (Houston)
In the Houston area? Apply to Goldman Sachs’ Fall 2024 cohort to receive business education and support services. The 12-week program in-person program runs September to December 2024 and includes best in-class curriculum, one-one-one advising, networking opportunities, and access to business capital. Past participants have shown significant revenue growth and job creation, outperforming the broader economy.
Deadline: June 4, 2024
Apply here: houston10ksb.com
2024 BGV Pitch Competition (NYC)
The Black Girl Ventures Pitch Competition is now in four cities across the country. The program provides coaching for entrepreneurs to participate in a live crowdfunded pitch competitio in one of four cities (Austin, Chicago, New York City, and Los Angeles). Grant winners will receive up to $15K in funding, along with membership to the BGV Connect Incubator. You don’t need to have experience pitching, nor do you need to have a pitch deck already created.
Upcoming Deadlines: June 14 (Chicago), October 9 (NYC), and November 6 (Los Angeles)
Apply here: blackgirlventures.org
ZenBusiness $5K Grant Program
The ZenBusiness 2024 Small Business Grant Program is awarding up to 40 small business clients a $5K grant, Growth Center access for 30 days (including live coaching and website tools), ZenBusiness Money Pro access for 30 days (providing tools to manage your clients, cashflow, and taxes all in one place), and ZenBusiness Banking free for the first month (so you can separate your business and personal finances).
To qualify, eligible small businesses must have used formation services within the last three to six months.
Deadline: December 31, 2024
Apply here: zenbusiness.com
ONGOING DEADLINES
Wish Local Empowerment Grant
U.S.-based Black-owned businesses with a brick-and-mortar shop can apply for microgrants ranging from $500-$2000. Must have 20 or fewer employees and under $1M average revenue.
Deadline: Ongoing.
Apply here: wish.com
$25K Business Owner Down Payment Grant (Atlanta, Charlotte, Chicago, Dallas, and Los Angeles)
Bank of America is offering a non-repayable grant for up to $25K for SBA owner-occupied commercial estate loans with businesses located in Atlanta, Charlotte, Chicago, Dallas, and Los Angeles. You must be a woman or minority-owned business.
Deadline: Until funds run out.
Apply here: promotions.bankofamerica.com
Amazon Black Business Accelerator
If you’ve got a shop on Amazon (or are thinking about starting one), then this grant program is for you. Accepted businesses get access to mentorship along with FREE imaging services for up to 50 products, $500 credit for start-up and operational costs, and up to $3,000 in advertising credits. Select sellers will also be able to apply for additional cash grant opportunities.
Deadline: None, but don’t wait!
Apply here: sell.amazon.com
Amazon Amplify
The Amazon Black Business Accelerator also offers Black-owned businesses access to its Amplify program. The business education program offers a cohort learning experience, including a dedicated Customer Success manager, a network of industry experts and business consultants, and peer group mentorship.
Deadline: None, but don’t wait!
Apply here: sell.amazon.com
Etsy Disaster Relief Grant Application
The Etsy Fund at CERF+ provides disaster relief grants of up to $2000 to U.S.-based Etsy sellers on a rolling basis based on available funds. Sellers are eligible to apply for a disaster emergency relief grant within one year of experiencing a natural disaster. Must be an active seller on Etsy for at least one year with an Etsy account in good standing.
Deadline: Ongoing.
Apply here: advocacy.etsy.com
The Fearless Fund
The Fearless Fund considers investments in early-stage, high-growth ventures led by women of color, with established C-corporations or LLCs on the path to incorporation.
Deadline: Ongoing
Apply here: fearless.fund
Furzy Hairstylist and Barber Grant
Looking for more online visibility? Beauty professionals, aka hair salon or barbershop owners, stylists, braiders, or barbers, are invited to apply for Furzy’s grant program offerings 3 months of free expert SEO services to help attract more clients.
Deadline: Ongoing.
Apply here: furzymarketing.com
Business Funding
Many small businesses are underserved by traditional lenders, with Black business owners continuing to have a higher rejection rate than White business owners. We’ve connected with a service that offers financing and term loans to businesses that have been in operation for at least four months with $8K-$10K monthly revenue. They even help with repairing credit.
Deadline: None
Learn more: wardfreedompath.com
S.P.U.R. Pathways
Shared Purpose, Unlimited Reach (S.P.U.R.) Pathways is a multiyear, multifaceted funding program in partnership with Momentus Capital to provide financial support to diverse-owned and underrepresented growth-stage businesses. The program is currently offering loans or investments of $20K and above, along with access to an advisory network for strategic growth advice such as business strategy and planning, financial reporting, daily operating challenges, opportunity evaluation, and other personalized services.
Deadline: Ongoing.
Apply here: macys.com
Start Small, Think Big
The nonprofit has established partnerships to offer free legal, finance, and marketing resources and small business support to BIPOC entrepreneurs, women, LGBTQIA+ entrepreneurs, immigrants, veterans, entrepreneurs with disabilities, low-income entrepreneurs, and formerly incarcerated entrepreneurs.
Must be currently operational and have at least $500 in sales within the past three months. Applicant must also have a household income under 750% of federal poverty guidelines.
Apply here: startsmallthinkbig.org
Minority Business Circle
Here’s another digital platform dedicated to empowering and connecting minority-owned small businesses, providing access to curated funding partners, resources, and virtual events.
Sign up here: minoritybusinesscircle.com
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