Private-Sector Loan and Grant Opportunities

This resource provides an extensive, aggregate, but not necessarily comprehensive, list of funding sources that may be available to small business owners. Of note, the list flags where a grant program may be targeted at specific historically disadvantaged groups including e.g. Black, Immigrant, Person of Color, or Woman owned businesses.

This information should not be considered comprehensive. This information should not be construed as an endorsement of any specific financial program.

To apply for assistance for your small business, click here.

Small, Minority and Women-Owned Business Account – Video Lottery Terminal Fund (VLT)

Provides funds obtained through video lottery terminals (slots) to assist small, minority, and women owned businesses located in targeted areas surrounding six Maryland casinos

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Eligibility

50% of VLT allocations will be deployed to small, minority and women-owned businesses within certain targeted areas of the six casinos. The other 50% will be available businesses throughout Maryland.

Target Geography

SoGal Black Founders Startup Grant

SoGal Foundation has teamed up with Winky Lux, bluemercury, twelveNYC and Lively to make a small step towards progress by providing at least (3) $10K and (6) $5K cash grants to Black women or nonbinary entrepreneurs. Awardees will also receive tactical help navigating the fundraising environment at large so that they will have a more equitable opportunity at scaling the next billion dollar idea. They will also receive lifetime “ask-me-anything” access to the SoGal Foundation and SoGal Ventures teams. We know this is a small start, and we are hopeful that it will grow. We believe in a brighter future where the next world changing business does not go unrealized because of systemic discrimination. If this sounds like you, send a quick email to sogal@iamsogal.com with your name, the name of your business, and your business website. There is no need to include any additional information, as it will not be reviewed. Grantees will be chosen at random. Applications are rolling.

Eligibility

To qualify, you should: self-identify as a Black woman or Black nonbinary entrepreneur; have a legally registered business; plan to seek investor financing in order to scale, now or in the future; have a scalable, highimpact solution or idea with the ambition to be the next billion dollar business

Target Geography

SouthEastern Connecticut Enterprise Region (seCTer)

seCTer's small business lending program can help small to medium-sized businesses expand, upgrade machinery and equipment, and/or relocate to our region. This program helps businesses grow, including businesses that are part of our thriving arts and cultural ecosystem. seCTer provides loans to businesses that are not quite bank ready, providing them the capital to grow and succeed.

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Target Geography

StartHer Microfund

StartHER challenges the biases in venture capital and provides access to the elusive ‘friends and family’ round. For many founders, raising money from friends and family isn’t an option because their existing networks don’t have resources to offer such funds. StartHER aims to give everyone a fair chance by re-shaping funding dynamics, providing access to professional networks and ultimately, becoming home to the new faces of entrepreneurship.

If you’re an early stage, pre-seed business that strives to make a positive impact on society, healthcare or the environment, we want to hear from you. Provides funding up to $50,000.

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Eligibility

What we’re looking for

  • A mission that has an impact on our society and/or planet;
  • Founders who are underrepresented in the venture capital market;
  • Companies that are pre-seed
Target Geography

State Trade Expansion Program (STEP)

STEP grant from the SBA runs from October 2019 through September 2020. Through this grant, Department of Economic and Community Development (DECD) has created an Export General Assistance Fund (GAF) to increase the number of eligible small businesses (ESBCs) that export, increase the value of exports by ESBCs and increase the number of ESBCs exploring significant new trade opportunities

All applications are due no later than September 15, 2022

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Eligibility

Operate a registered business in Connecticut to manufacture, assemble and/or distribute a product, or provide an exportable service;Meets the criteria established in Section 503 of the Trade Facilitation and Trade Enforcement Act of 2015 that’s defines the term ‘eligible small business concern,’ as a business concern that: (i) is organized or incorporated in the United States;(ii) Is operating in the United States;(iii) meets: (a) the applicable industry-based small business size standard established under section 3 of the Small Business Act;or the alternate size standard applicable to the program under section 7(a) of the Small Business Act and the loan programs under title V of the Small Business Investment Act of 1958 (15 U.S.C. 695 et seq.);(iv) has been in business for not less than 1 year;and (v) has access to sufficient resources to bear the costs associated with trade, including the costs of packing, shipping, freight forwarding, and customs brokers;Seeks to export goods or services of U.S. origin or have at least 51% U.S. Content;Not presently debarred, suspended, proposed for disbarment, declared ineligible, or voluntarily excluded from participation in this transaction by any Federal department or agency

Target Geography