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

Last Updated on August 7, 2022 by Danielle McDonald

Texas offers free grant programs and low-cost or interest free loans to assist minority and grants for women owned businesses. Resources are also available for both small and medium-sized businesses as well as start-ups. Below are more details on how you can apply for funds in your area. Every lender, agency, government program, or non-profit allocates some of the grants, loans, or assistance programs to women and minority owned or managed companies.

Funds are available to assist minority and women owned businesses in creating or retaining jobs, or paying for approved business expenses. Moreover, many agencies offer additional support aside from loans and free grants. These additional support may include mentoring, advice for creating online businesses, free legal assistance, and information about other local or national business development programs.

Financial counseling and financial assistance are mostly available for minorities (Black, Latinos, Asians, LGBTQ, etc.), women, or veteran owned businesses in Texas. However, there are also assistance for businesses regardless of race or gender. Support is available in the form of grants or loans, whether in Dallas, Houston, El Paso, San Antonio, or any other city or town in Texas.

Find Grants or Loans for Minority and Women in Texas

Below is an up to date list of resources. This includes grants, loans, workshops, free counseling, and other resources from banks, non-profits, government agencies, and corporations throughout Texas. Regardless if people need financial assistance to start or grow a business, or free business advice, help is provided for MWBE and BIPOC businesses. Below are more details about how to apply.

Ongoing and Year Round Resources

Texas offers a number of loans, grants, mentoring, and other veteran and MWBE services which are available year-round. Read more about the details below according to category, city, and region. Additionally, you may continue to scroll down to find more monetary financial assistance programs.

Statewide Texas MWBE financial aid programs

Kiva Microloans 

These microloans are available all over the state. Although funding is subject to change, qualified businesses can receive up to $15,000 to start a business, or grow or save their existing business. It is a peer-to-peer funding source where donors from all over the world help finance the loan. They are also focused on disadvantaged businesses in Texas. These include immigrants, minorities (Black, Latino, etc.), LGBTQ+, women, and others.

Bayou Microfund

This is one of the Kiva local groups. Bayou Microfund supports Houston and Harris County, Texas. They provide assistance to the unbanked as well as others. Click the link above to learn more. 

Impact Ventures

Impact Ventures covers Dallas, Texas, and they offer interest-free Kiva loans. Click the link above to continue reading about the program. 

Startup Waco

Startup Waco is a regional non-profit. They offer free mentoring, assistance for sole-proprietors, and other loans and funds. Click the link above to find out more about their assistance programs.

Legacy Institute for Financial Education

They provide Kiva loans in Lufkin, Texas. They also offer credit builder loans, financial education, LIFE Tech classes, and much more. Click the link to read more.

Gardner Capital

Gardner Capital is working in conjunction with Kiva to provide 0% APR loans for BIPOC businesses in the Dallas and Houston area. The loans available are peer to peer, crowdfunding type programs, which assist small businesses raise the capital they need. Furthermore, Kiva is a non-profit organization that offers interest-free loans to start-ups and owners of small businesses around the world. Click the link above to find out more.

Texas Women’s Foundation (TXWF)

This foundation is all about empowerment of women, including business owners. They provide leadership classes, information on job training, entrepreneurship assistance, and other services. The non-profit also offers a variety of grants programs to assist women in starting or growing a business, or addressing other needs. Click the link above to learn more about the non-profit TXWF.

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

Austin region and surrounding counties MWBE programs

Just Community

Just Community is a non-profit providing assistance for small businesses in Austin and Travis County. Venture capitalists founded the non-profit to provide microloans for small businesses. This includes borrowers with bad or limited credit. Moreover, the majority of financial assistance is allocated for women owned businesses, including Black women and Latina businesses. They also finance businesses owned by Austin residents with low income. Individuals and corporations help Just support minority and women owned businesses. Click the link above to learn more.

Dallas/Fort Worth and nearby area grants, loans, and business assistance programs

Dallas BUILDS

Dallas BUILDS, or also known as the Broadening Urban Investment to Leverage Dallas, helps existing small businesses, start-ups, charities, and nonprofits. There are hundreds of companies that help run and finance it. This program assists women, veterans, and people of color who own businesses to get the resources they require. These include financial assistance or free grants, workspaces, educational or training support, and much more. Additionally, this is a completely free service. Click the link above to apply.

Texas Woman’s University Center for Women Entrepreneurs & Stoke Incubator Program

The Texas Woman’s University Center for Women Entrepreneurs & Stoke Incubator Program assists women owned businesses in Denton, Texas. A variety of services are available, including co-working space, mentoring, coaching, information on grants, and more. Moreover, it is designed to assist women owned businesses in starting and growing their businesses. Click the link above to continue reading.

CDFI Friendly Fort Worth

CDFI Friendly Fort Worth provides support to underserved business, and even non-profit organizations, especially those in low income areas in Fort Worth. They can get access to capital, low-cost loans, and other support. Different Community Development CDFIs, banks, and corporations are working in conjunction to offer financial aid, low-cost or interest free loans, counseling, and more. The underserved include people of color, veterans, LGBTQ+, women, and others minority owned businesses. Click the link above to find out more.

This is quite similar to one of the free grants and loans for minority and women owned businesses in Tennessee, the Nashville Business Incubation Center.

Impact Ventures

Impact Ventures assists businesses located in Northern Texas including Dallas, Plano, Frisco, and the rest of the state. They offer funds for minority and women owned businesses, and other disadvantaged businesses (LGBTQ Veteran, Immigrant, and so on). The also operates free coaching, mentoring, business development, and other assistance. Click the link above to find out more.

El Paso Texas MWBE grants, interest free loans and business resources

ACCELERATE El Paso 

ACCELERATE El Paso is a conjunction of several non-profits, such as Drexel University and Aspen Institute’s Latinos and Society. They provide information about financial aid, and grants for minority businesses. This includes grants for technology or government loans. Furthermore, ACCELERATE El Paso encourages local shopping, digital skills development and other business support. You click the link to read more.

Houston area MWBE grants, loans, and programs for small businesses

Chamber of Latino Entrepreneurs of Houston (CELH)

The Camara de Empresarios Latinos de Houston Foundation is also known as Chamber of Latino Houston (CELH). It is a Houston-based foundation that focuses on existing businesses within Houston and Harris County. The organization includes restaurants, grocery stores, marketing, retail, and many more. They are used as a resource to raise capital, or provide financial aid, such as loans or grants. Click the link above for more details.

Houston Business Ecosystem Alliance for Minorities & Women

The BEAMW (or Business Ecosystem Alliance for Minorities & Women) focuses on assisting entrepreneurs, start-ups, and small businesses in Harris County. They help with networking, microloans applications, credit building activities, loans or financing for owners with bad credit, and finding free government grants. Furthermore, it is a network that aims to support MWBE start and/or growth. Click the link above to find out more about this government-affiliated non-profit.

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