Free Grants and Loans for Minority and Women Owned Businesses in Colorado
Last Updated on June 9, 2022 by Danielle McDonald
There are loans and free grants for veterans, women, LGBTQ+, or other minority owned businesses in Colorado. Local and national banks, non-profit organizations, and other lenders offer funding for small to mid-sized businesses and entrepreneurs. There are also minority business loans, funds to assist women owned businesses grow, or grants to start-up a company. Below are details on how you can get grants or loans in Colorado.
Lenders are available throughout the state. Lenders offer most grants and loan programs in Denver, Boulder, or El Paso, Colorado. However, there are usually options in all cities and counties. Moreover, there are different application requirements. Some lenders, financial aid, or government grant programs need minimum credit scores or business revenue targets, while others do not. For more information, you will need to contact and/or apply.
Some lenders or other providers in Colorado offer funds for MWBE, and Black, Indigenous, and People of Color (BIPOC) businesses. They also offer free advice or mentoring services as part of their financing packages. These are also benefits of using the programs below. Additionally, there are also always new loans and grant programs available. However, the list below is up to date.
Loans and Free Grants for Minority or Women Owned Small Businesses in Colorado
This list contains current funding sources. You may find grants, loans, mentoring services, and other small business programs for women and minorities in Colorado.
All Year Resources
The Aurora Colorado NAACP runs an Economic Development Center. It is primarily focused on assisting people of color, but anyone can utilize it. They offer different free sources for small businesses and entrepreneurs. Find out about local and national grants, sign up for mentoring, how to use office equipment, use the center to network, and utilize other programs. Click the link above to learn more about the non-profit organization.
The Colorado Lending Source is a Kiva-sponsored Trustee. Their B-Side Capital program offers a variety of loan products, including Angel Investing, Equity raises, partnership, and more. However, one program that they offer is the 0% interest-rate KIVA loan. This can be used to help small businesses grow and start, with a focus on MWBE, veteran, and immigrant owned companies. Click the link above to find out more about The Lending Source. This is similar to the KIVA loans that were available as one of the Free Grants and Loans for Minority and Women Owned Businesses in California.
The Women’s Business Center at Mi Casa Resource Center assists businesses in the Denver area that are owned by low-income people, and/or those who need to access capital. They are also focused on Latino owners, minorities, and women, particularly those living in low-income areas. They offer business plan development, licensing and permitting assistance, interest-free loans (in partnership with Kiva), free use of the resource center, and more. Click the link above to continue with the Women Center programs.
This is similar to the Miami MBDA, which is one of the Free Grants and Loans for Minority and Women Owned Businesses in Florida.
Prairie Rose Development Corporation is a non-profit start-up and small business lender which assists across Colorado. The funding is provided in partnership with Kiva, and qualified applicants can borrow up to $15,000 at 0% interest rates. Additionally, they offer support for underserved small business owners, such as people of color, women, LGBTQ+, and disabled (among others). You can also get financial assistance, mentoring, and free loans. Click the link above to apply.