Free Grants and Loans for Minority and Women Owned Businesses in Kentucky

Last Updated on August 23, 2023 by Hannah Stevens

Financial assistance program is available to minority, veteran, female, and disabled business owners or entrepreneurs in Kentucky. There are many programs offered, including free grants, technical support, business coaching, and interest-free or low-cost loans. These resources are available for Black, Latino, women, veteran, disabled, and disadvantaged business owners in starting or growing their company. Below are links to programs and places near you where you can apply for the programs offered in the state of Kentucky.

Grants are from the state, the federal government, corporations, and charities (among other places) are available. Moreover, banks, non-profits, or other lenders offer loans. The goal of any loan is to encourage women and minorities to start or grow a business, regardless of where the funds are coming from. There is also financial support for veterans, MWBE, or BIPOC (Black, Indigenous, and People of Color) businesses. This often includes mentoring, legal assistance, website development, coaching, and more.

Most loans and grants for women owned businesses are available in the larger cities of Lexington, Louisville, and the surrounding areas. However, small and mid-sized businesses across the state may also apply. Financial assistance is available to all residents, regardless of their income. But, the focus is on Latino, Black veterans, women, and other disadvantaged companies.

Loans and Free Grants for Women or Minority Owned Businesses  in Kentucky

This page contains an up to date list of small business services, free grants, financial assistance programs, and loans. Every Kentucky entrepreneur, start-up, and small business owner can apply, regardless of ethnicity or gender. However, all of the programs and agencies have funds that are exclusively available for women, the disabled, and minorities, including Black owned businesses, and the disadvantaged.

Year Round Financial Aid programs, Grants, Business Coaching and More in Kentucky

Access Ventures

Access Ventures is located in Louisville, and they invest in minority, LGBTQ+, women, and disadvantaged businesses that are not eligible for mainstream lending programs. They are a good option for businesses who are unable to get financing or a loan from a bank.


Low income, women, and minority owned businesses in Bowling Green may contact POP-UP. This program is part of the Housing Authority of Bowling Green, and it works as a charity or non-profit. They assist the underserved and small businesses with bad or no credit. There are low-cost loans, financial assistance, coaching for businesses, networking events, and several other services.
This is quite similar to one of the free grants and loans for minority and women owned businesses in Kansas.

Innovation Alley

Innovation Alley offers year-round support for businesses in Covington. It is a combination of the Greater Cincinnati & Northern Kentucky African American Chamber of Commerce, City of Covington, and the Northern Kentucky University Collaborative for Economic Engagement. The KY Hub program offers free coaching, assistance with grant applications, accelerators for women of color owned businesses, and other tools.

Metropolitan Business Development Corporation (METCO)

The Metropolitan Business Development Corporation (METCO) provides very low-interest loans or information about free grants to small businesses in Jefferson County and Louisville. These funds are used as working capital, for paying rent and utilities, inventory, and other purposes. They also offer business accelerator programs for program participants, particularly women and minority owned companies. These include Midi and Business Accelerator Loans, Gap Financing, and more.

Seed Capital Kentucky

The Seed Capital Kentucky is also available to help businesses in Louisville. They offer assistance with financing, including information about 0% interest-free loans from Kiva. They assist farmers; minority, women and veteran owned small businesses. They also assist restaurants, grocery stores, and other “food focused” companies. There is assistance for business development, accounting, legal services, and other support. However, for financial assistance, Kiva Zip Loans can help.
This is similar to Fund 17, one of the free grants and loans for minority and women owned businesses in Louisiana.

Northern Kentucky University

Business accelerators from Northern Kentucky University can help businesses in the Northern Kentucky region, including those in Cincinnati) with a business accelerator. Fundnoire is a program that grants money to Black, Latino, minority, and BIPOC businesses. There are also mentoring, advice, coaching and other mentoring services, as well as grant programs, and business leadership classes.