Small Business
Financial Resources
Which financial resource is right for me?
There are several types of funding options available to meet your small and medium business's needs. Each type has specific characteristics that are important to understand. Multiple funding types may be suitable for you.
Disclaimer: the recommendations are not exhaustive and do NOT guarantee approval.
Get additional assistance by filling out our request form here or contact us at our call center directly 844-333-8249.
Crowdfunding
Crowdfunding may be right for your business if the business has a large, supportive network willing to contribute to its success.
Grants
Grants are typically a no regret funding option, especially for businesses that are struggling financially, as the money does not need to be paid back.
Investment
Investors provide capital for a business usually in exchange for convertible debt or ownership equity.
Loans
Loans allow a business the flexibility to cover their expenses or make necessary investments, while paying back the money over time, typically with some interest.
Narrow your search
Backing the Bar $10k Grant from the NAACP and Bacardi
The NAACP and Bacardi are teaming up to give 10 small business owners $10k grants to support in accelerating their business for the future. If you’re an entrepreneur with a liquor license or real liquor license aspirations, and you need financial, educational, or mentorship support, apply to the Backing the Bar Grant Program today!
Eligibility:
To be eligible, small businesses must:
- An entrepreneur who is the leading executive (i.e. Founder and/or President, CEO, CFO, COO, or any such other similar title) of a business that meets the below business criteria;
- A legal resident of one of the fifty United States, the District of Columbia, or Puerto Rico;
- Eighteen (18) years of age or older (19 in AL and NE).
- Be a for-profit business located and registered in one of the fifty United States, the District of Columbia, or Puerto Rico;
- Hold a liquor license or are currently seeking a liquor license.
- Preference will be given to Black Entrepreneurs
Terms:
Max Amount:
Program deadline:
Application deadline:
Accepting applications until May 24, 2024 at 6PM
Learn More
Entrepreneurs of Color Fund
The purpose of the Entrepreneurs of Color Fund (EOCF) is to support the growth and development of Detroit-based businesses owned and operated by people of color.
Eligibility:
Terms:
The EOCF specifically seeks to help small businesses with growth potential and management insight that might lack sufficient collateral or owner equity to qualify for financing from mainstream lenders. Businesses may use the capital to expand, finance equipment, address short-term cash flow needs and provide contractor lines of credit. Loans may range from $5,000 to $300,000.
Max Amount:
$300,000
Program deadline:
Application deadline:
Rolling