Free Grants and Loans for Minority and Women Owned Businesses in North Carolina

Last Updated on August 23, 2023 by Hannah Stevens

Start-ups and women-owned businesses, as well as minority-owned businesses, can receive low-interest loans or grants to help them grow their business. North Carolina offers many programs. Below are links to lenders, credit unions, corporations and non-profit organizations that offer funds. Any small- to medium-sized business can apply. However, money will be allocated for minority businesses such as Black owned companies, veterans and LGBTQ+. The North Carolina lenders will give preference to women-owned or managed companies. This list includes loans, grants for women owned businesses, and other financial assistance programs that are constantly updated.

There are many options for small to medium-sized businesses in the state. This includes Charlotte, Raleigh – Durham, and other major cities. Many programs offer loans and grants for women and minority businesses, as well as other support. These programs can provide advice, marketing support, web development, and free tech support. This is a way to support both a small- to medium-sized company and a startup, by providing the necessary funds and general support.

Latest Loans And Free Grants For Small Businesses In North Carolina

New programs are frequently announced every day, weekly, and monthly. This North Carolina list of grants and loans for MWBE, veteran, and BIPOC-owned companies (Black, Indigenous and People of Color) will be updated every day. While any business or entrepreneur may apply, there will always be a certain amount allocated to women, Black-owned businesses, Hispanic firms, and other lenders. North Carolina’s veteran-owned businesses tend to have priority.

Year Round Free Grants, Low Cost Loans, Or Financial Assistance For MWBE and Veteran Businesses

Accelerator Program / Venture Asheboro

It is managed by Randolph Community College and Midstate Rotary. You can find information about applying for grants and loans, mentoring, and other useful resources. Numerous services are available to assist Black women and men in starting businesses and Black-owned businesses.

Business Inclusion Office

They provide training and a program called Pathways to Growth. They also have current information about grant programs from the government and local non-profits. Its goal is to support women-owned businesses and minorities in growing, hiring, and contributing to the city’s economic development.


NC IDDEa promotes black entrepreneurship. The maximum amount offered is $50,000. IDEA will provide mentoring and coaching services, advice and mentoring to black women and men. Black entrepreneurs can get the support they require by working with both successful businesses and those in the state.

Mountain BizWorks

They assist small businesses and would-be entrepreneurs. You can take classes like Scale Up and Alpine. You will also find information about microloans to businesses (including women, minority), referrals for free government grant programs and mentoring from Asheville-based business owners and volunteers.

Black Business Alliance Leadership Council

Black-owned businesses in Chapel Hill and Carrboro can receive advice, support and information from the Alliance for a Greater Chapel Hill–Carrboro.

Charlotte Aspire Community Capital 

They assist underserved business owners and residents in low-income areas of the city. Black, Latino, disabled, and women owned businesses can apply for assistance. They can help raise capital through loan or grant programs. You can also find business coaching programs, a program to launch a business, and a multi-week business academy. 

Charlotte’s Black Chamber of Commerce 

They serve as a resource for Black entrepreneurs and Black owned businesses. They offer advice and can refer you to government grants. Moreover, they are partners with nonprofits and corporations in Charlotte, Mecklenburg County.


This agency works with the Latin American Chamber of Commerce of Charlotte, Bank of America Duke Energy and Kiva to help them implement their programs. You can find information about loan or free grants, business development, and marketing or IT assistance.

Greensboro Community Development Fund (GCDF) 

The GCDF in partnership with Kiva offers 0% APR loans and counseling. The loan and capital programs are available to those with poor credit or no credit. This non-profit helps disadvantaged MWBE, veteran and LGTBQ business owners.

Nussbaum Center for Entrepreneurship

They assist women, minorities, immigrants, and veterans owned businesses. It is a non-profit organization. There are many free services available, including website design, business planning classes, workshops, information about funding programs, start-up workshops, and more.

Thrive High Point

They offer financial assistance, grants and counseling to small businesses in High Point, including BIPOC, veteran, and LGTBQ. It is a partnership between the Chamber of Commerce. You can get microloans, start-up classes, a MWBE accelerator program, and many other services.
This is quite similar to one of the free grants and loans for minority and women owned businesses in New York, The Catalyst.

Wake Tech Accelerator Program

The school can help clients find capital raising programs including grants, loans from the government, and nonprofits. Free workshops are offered, as well as free business counseling. Information on certifying to be a MWBE, veteran-owned business and other assistance is also available.

Nash Community College

Startups and small businesses in Rocky Mount and Eastern NC can apply for Kiva loans at 0% interest at the Small Business Center at Nash Community College. They serve as a Trustee of the non-profit worldwide. Access to capital is not the only benefit. There is also bookkeeping help, business resources, marketing assistance, and help with business setup.

Salisbury-Rowan NAACP and Self-Help Credit Union 

They are partnered with KIVA, a national lender, in order to provide financial assistance for women-owned companies and minority-owned businesses. The microloans obtained are amounts between $1,000 and $15,000. These loans do not carry interest. The primary goal of the loans is to assist minority owned businesses with credit. All funds for KIVA or Self-Help are donated by individuals and businesses around the globe.

UNC-Pembroke Thomas Entrepreneurship Hub

They provide assistance to businesses in the state’s southeastern region, which includes the Sandhills and Lumberton. The assistance includes startup support, an incubator, as well as many other resources for veteran, MWBE, and Native American owned businesses. They also give information about grants from the government, financing through banks, and other options to raise capital.

Carolina Community Impact

The Carolina Community Impact covers the Triangle Area, which includes Durham, Wake, and 14 other counties. You can get interest-free loans from Kiva. They also offer credit counseling and help with grant applications. You can borrow up to $100,000, most of it interest-free. However, the focus is on MWBE, veteran, LGBTQ+, and disadvantaged companies. Financial aid is available for the counties of Alamance, Caswell, Chatham, Durham, Franklin, Granville, Lee, Harnett, Johnston, Nash, Orange, Person, Vance, Wake, Warren, and Wilson.

Genesis Block

Genesis Block is a resource for minority businesses in Wilmington, NC. This non-profit assists entrepreneurs, as well as small, Black and Latino owned businesses that are looking to grow. They may offer grants and low-cost loans, and financial assistance. They also offer other assistance, such as a small business accelerator program, an entrepreneurship center and other support.

This is quite similar to one of the free grants and loans for minority and women owned businesses in Ohio, Mortar.

The Network for Entrepreneurs in Wilmington

Entrepreneurs and anyone looking to start a business can receive mentoring or networking for free. Marketing assistance, advice on how to apply for low-interest or no-cost loans, and website development are some of the many benefits.