Minority Business – Minority Owned Business

This is the complete list of grants for a small business person

11.800 DOC minority business Enterprise Centers
14.132 HUD Mortgage Insurance_Purchase of Sales-Type Cooperative Housing Units
14.155 HUD Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects
14.197 HUD Multifamily Assisted Housing Reform and Affordability Act
59.007 SBA 7(j) Technical Assistance
59.012 SBA Small Business Loans
59.026 SBA Service Corps of Retired Executives Association
59.041 SBA Certified Development Company Loans (504 Loans)
59.043 SBA Women’s Business Ownership Assistance
59.046 SBA Microloan Program
59.050 SBA Microenterprise Development Grants
81.036 DOE Inventions and Innovations
81.105 DOE National Industrial Competitiveness through Energy, Environment, and Economics

You would think that Grant 11.800 DOC Minority Business Enterprise Centers is what you need. But if you read through what the grant says, it is not to help a minority start a business, but for anyone willing to start a Minority Business Enterprise Centers that would help minorities start their business through counseling, etc http://12.46.245.173/pls/portal30/CATALOG.PROGRAM_TEXT_RPT.SHOW?p_arg_names=prog_nbr&p_arg_values=11.800

OBJECTIVES
To provide electronic and one-on-one business development services for a nominal fee to minority firms and individuals interested in entering, expanding or improving their efforts in the marketplace. MBDA’s funded Minority Business Enterprise Center operators provide a wide range of services to clients, from initial consultations to the identification and resolution of specific business problems.

http://12.46.245.173/pls/portal30/CATALOG.PROGRAM_TEXT_RPT.SHOW?p_arg_names=prog_nbr&p_arg_values=11.800

Whatever race you may be, it is hard to find grants to start a business. Unlike the myths that some perpetuate, federal government and even private foundations hardly give grant money for a for-profit business.

Loans – there are loan programs for minorities but not grants.

Nonetheless, you can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.grants.gov – these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support a for-profit venture.

Even if you buy books on "how to get grants" or list that supposedly has information on grants — all of them are mere rehash of what CFDA has, albeit packaged differently. But still the info is the same – hardly any grants for starting a for profit business.

Even SBA does NOT give out grants. From the SBA website http://www.sba.gov/expanding/grants.html…

"The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. (See http://www.sba.gov/financing for more information) While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments."

Here is a listing of federal grants for small businesses. See if there is any available for individuals for starting a business — THERE’S NONE.
http://12.46.245.173/pls/portal30/CATALOG.BROWSE_BENEF_RPT.show

Most of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT – Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program

Grants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women’s Business Ownership Assistance that are given to those who will create women’s business center that will train women entrepreneurs

For private grants, you may want to check the Foundation Center’s Foundation Grants for Individuals Online. It’s a subscription based website ($9.95 per month) but their opening blurb only says that the database is ideal for "students, artists, academic researchers, libraries and financial aid offices." Entrepreneurs are apparently not one of them, so I take it they also don’t have listings of private foundations who give grants to would-be entrepreneurs.

This entry was posted on Thursday, December 24th, 2009 at 10:16 pm and is filed under minority business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.