Last Updated on August 7, 2022 by Danielle McDonald
Small to medium sized minority and women owned businesses in the state of Georgie can receive financial assistance in the form of either grants, or low interest or forgivable loans. Below you will find information about government programs, lenders, charities, corporations, and other places available to get financial assistance in Georgia. Find out where and how you can receive free consultations for businesses, grants, mentoring programs, loans, and other assistance.
All businesses are eligible to apply. However, every assistance program and agency committed to assist disadvantaged businesses in Georgia. This explicitly includes minorities (Black, Latino, Asian, immigrants, etc.), veterans, LGBTQ+, and women. Free grants from the government or non-profit organizations can be combined with any form of assistance, including financial advice, budgeting, counseling, technical assistance, and more. Moreover, businesses that has received loans can also get other support.
You can find small business financial assistance programs throughout Georgia, including Atlanta, Augusta and Savannah. Everything is available from low cost loans to grants, capital, or funds for certain operating expenses, with a priority for MWBE and BIPOC businesses in the state.
Grants and Loans for Women or Minority Owned Small Businesses in the State of Georgia
This list of programs is up to date. Anyone can apply, as already noted. However, funds and support will be primarily focused on Black, Latino, veteran, and grants for women owned businesses among other disadvantaged companies.
Free Financial and Business Coaching Assistance Programs
Village Micro Fund
The Village Micro Fund assists Black and Brown owned businesses in the Atlanta area. The Fund is also a Kiva Trustee, which means that microloans can be granted at zero interest rates. Furthermore, you can find business education workshops, loans to start or grow small businesses, a “Fellowship Program,” and a lot more. They are also focused on serving the community that is least served. You can click the link above to find out more about the non-profit organization.
Women’s Entrepreneurship Initiative (WEI)
Women-owned businesses in the Atlanta metropolitan area (and every county around the city) can receive assistance from the Women’s Entrepreneurship Initiative (WEI). They assist women in starting and/or launching a business, as well as everything that is involved in making this happen. They can also refer you to government and charitable grant programs, low-cost loans, business plan development, mentoring, education and many other services. Women of all ages, races, ethnicities, etc. are eligible for assistance. Find out more about the center and the assistance programs available through the link above.
The United Way of Greater Atlanta
They work with other lenders (including Wells Fargo), and non-profits like Invest Atlanta, to help small business owners. However, the primary focus is on minority, veteran, Black, and women owned businesses, as well as diverse businesses. The United Way facilitates microloans, and helps businesses pay rent, get capital, provides financial assistance, and training services. You may click the link above to read more about grants, Invest in Atlanta financial assistance programs, and get other assistance.
Greater Augusta Black Chamber of Commerce Foundation
They will occasionally provide free grants and training to assist Black males and/or females in starting a business. However, they offer services all year to members. They are also able to help minority business owners network, provide mentorships, refer to non-profits, and offer a variety of other services. Click the link above to find out more.
This is similar to the Illinois Department of Commerce and Economic Opportunity. which is one of the Free Grants and Loans for Minority and Women Owned Businesses in Illinois.
Newton Macon assists underserved (Black, Women Veteran, LGBTQ+, etc.) businesses in Macon and central Georgia. They are a small, CDFI lender offering not only capital to small businesses that often have limited access to funds, but they also coordinate other assistance. The also offer website and business plan development, mentoring, networking, and a variety of program. Click the link above to find out more about their services and loans.
Another option for the Macon area is the non-profit NewTown Macon’s Godsey Initiatives Fund. They also help women of color owned small businesses to start and/or grow through a variety of programs.
This is quite similar to the Black Business Loan Program which is one of the Free Grants and Loans for Minority and Women Owned Businesses in Florida.