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

Last Updated on August 23, 2023 by Hannah Stevens

This is a list of South Carolina loans and free grant programs that give priority to women and minority owned businesses. There are available funds, free counseling or mentoring services for Black, Latino, LGBTQ+ community, veteran, women owned businesses, and other disadvantaged or minority groups. Every day, week and month, programs are offered to small to mid-sized minority and women owned businesses in South Carolina. These include those in Charleston, Greenville, Columbia, and other cities.

Corporations, the state of South Carolina or the federal government, credit unions, banks, and various lenders offer small business assistance. There are also 0% interest loans or forgivable loans. Grant programs can also offer funds for veteran, Latino or women owned businesses required in order to grow or succeed. Not only financial assistance is provided, but there is also other assistance, including legal support, help with marketing/advertising, management training, mentoring, tax advice, and more for MWBE, veterans, and BIPOC (Black, Indigenous, People of Color) owned businesses.

Every entrepreneur, owner of small to mid-sized businesses, or start-up companies in South Carolina can apply. However, each one of these lenders or organizations has dedicated a sum of funding and support for minority and women owned companies. Therefore, there are funds allocated for Black, Asians and Latinos, veterans, and other minority owned businesses. Find out more below.

Loans And Free Grants For Minority Or Women Businesses In South Carolina

This list is up to date. However, there is usually a limited time window to apply. So, it is highly recommended that any interested minority owned or managed company, or a woman owned business, apply immediately. The funding is always favorable, therefore, the assistance runs out quickly.

Year Round Financial Assistance, Free Grant, Business Coaching, and Loan Programs

Aiken Business Coalition Entrepreneurship Program 

This program assists small businesses in growing and/or getting started. The Aiken County Branch of the National Association for the Advancement of Colored Peoples (NAACP), and other local businesses, offer the ABCE. They also provide information about grants and loans, and support for Bookkeeping & Recordkeeping, Credit Essentials, branding, and more.

This is quite similar to one of the free grants and loans for minority and women owned businesses in Tennessee, the Entrepreneurship Powered Innovation Center (Epicenter).

The Minority Business Enterprise Advisory

This organization in Charleston focuses on minority and grants for women owned businesses. They offer information about how to apply for financial assistance, including SBA loans or government grants, mentoring resources, business plan development workshops, and more.

This is quite similar to one of the free grants and loans for minority and women owned businesses in Rhode Island, the Providence Minority and Women Owned Business Enterprise.

Minority Business Accelerator

The program is available in Charleston, Columbia, and Greenville, SC. This multifaceted program was launched in partnership with Interise StreetWise “MBA.” They provide BIPOC, MWBE, and veteran owned businesses free coaching, referrals to financing (both grants and loans), training, and other assistance.

Women’s Business Center of Columbia SC 

They offer several programs. There is information about applying for microloans and free government grants, networking events, coaching, use of a business center, and more. Moreover, they assist women owned businesses (Black, Latino, Asian, etc.) or any race.