Capital One Supporting Black-Owned Businesses with $10,000 Grants

annual Small Business Grant Contest

Some big businesses are stepping up to support local, independent brands with small business grant opportunities. This week, FedEx opened up applications for its tenth annual Small Business Grant Contest. And Capital One unveiled a new grant program for Black-owned businesses. Read about these small business grants and more current opportunities below.

FedEx Small Business Grant Contest

FedEx hosts an annual contest to award grant funding to deserving small businesses. This is the tenth year for the contest. This year, the initial application period goes from February 10-28. Businesses with 100 employees or fewer are eligible to apply. The application process requires signing up for a FedEx account, writing a company bio, and uploading photos and videos. After that, a top 100 businesses will be selected. And a public voting period will determine the ultimate winners. A grand prize of $50,000 will go to three winners. And seven first place winners will receive $20,000, along with other prizes. All of the top 100 businesses will receive mentoring and professional consultations. Additionally, the tenth anniversary of FedEx’s grant program features more opportunities for businesses in certain niches. Winners in specific categories like Young Entrepreneur, Sustainability Focused, Healthcare, Veteran-Owned, and Minority-Owned may receive $10,000 and FedEx vouchers.

Capital One Business Grant Program for Black-Owned Businesses

Capital One, in partnership with the Association for Enterprise Opportunity, is launching the new Capital One Business grant program. The program offers $10,000 grants for Black-owned businesses, along with a free resource hub that includes insights and actionable advice from successful entrepreneurs. The Capital One Business Grant program will officially launch on March 10. You can sign up for updates on the Association for Enterprise Opportunity’s website.

Atlanta Resurgence Grants

The city of Atlanta recently announced a $10.4 million grant program to support the city’s small businesses. The program is funded through the American Rescue Plan. Resurgence Grants may be for up to $40,000 and can reimburse eligible businesses and nonprofits for expenses dating back to March 3, 3021. The application period opens March 1. And the deadline to apply is April 29.

New Jersey Economic Development Authority Small Business Improvement Grant

The New Jersey Economic Development Authority just opened a new round of grant funding to support businesses affected by the pandemic. The $15 million Small Business Improvement Grant Program is part of the organization’s Main Street Recovery Program. The overall goal is to improve local business resiliency and create opportunities for growth. Grants may be for between $5,000 and $50,000. And businesses may even request matching reimbursement funds for select projects already completed. However, businesses must meet location and wage requirements to remain eligible.

North Carolina Child Care Stabilization Grant

North Carolina launched its Child Care Stabilization Grant program last year. And the program is still accepting applications from the state’s child care centers to support struggling businesses and maintain a healthy workforce. Since the program’s launch, the North Carolina Department of Health and Human Services has awarded $335,859,284 to 3,961 child care businesses. And more than 90 percent of eligible child care programs that have applied have received funding. Applications are still available online and accepted on a rolling basis.

Image: Depositphotos

More in: 9 Comments ▼

Annie Pilon Annie Pilon is a Senior Staff Writer for Small Business Trends, covering feature stories, community news and in-depth, expert-based guides. She has a bachelor’s degree from Columbia College Chicago in Journalism and Marketing Communications.

9 Reactions
  1. Hi where can I apply for these small business grants from FedEx, CapOne and are there any for Florida. I qualify.

  2. Thanks for the information now I’ll make sure to avoid doing business with Capital One. This whole “black businesses” and “people of color” and all the other nonsense surrounding it is pathetic at best. How about stop acting as if black is special and deserves anything more than any other person simply because they had some ancestors from Africa.

    • Aww… you’re upset that black people/people of color are getting just a taste of that white privilege you get every single day. 🖤

  3. Oh wow! you approved R. Jennings racist comment, but not mine. Got it!!

  4. It’s fine…. I’ve contacted the website about R. Jennings racist comment that was approved by you. I’ll also share this with the NAACP and see what they think about this. Screenshot saved!

    • It’s really so sad that racist comment got published. It really goes to show that the person/people that is in charge of this printing is just as ignorant. How do we really understand the thought process of animals mix with humans.

  5. I love when little men with no depth hidden make racial comments that don’t hold any weight. Ignorance comes from lack of education. The mind is a terrible thing to waste!!

  6. How can I apply or receive information about these Grants/ Loans