Grant Money for Minorities

The Census Bureau of the Department of Commerce released a report that shows that businesses owned by minorities grew four times faster than U.S. businesses overall. There has been a growth of about 0.7 million businesses, from 2.1 million to 2.8 million, since 1992. In part, the increase in government grant money for minorities accounts for this growth.

Individuals that fit the criteria and belong to a minority can access this grant money. The funds are available for any number of purposes that will facilitate the development of minorities. The reasons can be educational, benefiting a minority community, etc.

Grant money for minorities can be used for programs or projects such as scholarships, seed money, or research. A program or project has to have a plan of action with a specific goal, usually community centered. Grantors prefer to have their dollars used toward innovative, effective programs or projects. A program approaching the advancement of minorities in a unique and effective manner stands a good chance of successfully accessing grant money.

If, however, the program you want funded is modeled on similar projects that have been successful, it is probable that it would be looked on favorably. In cases such as this, grant money for minorities would likely be allocated for it.

Congress allocates grant money in the federal budget each year. They determine what agency gets how much money during the budget process. Grant money is made available once the federal budget has been approved.

The Minority Business Opportunity Committee (MBOC) falls under the jurisdiction of the Department of Commerce. Grant money for minorities is used to assist new businesses owned by minorities as well as assist existing minority businesses. Any level of government or quasi governmental entities; accredited post secondary institutions; American Indian Tribes; as well as both nonprofit and for profit organizations can apply for this grant money.

A panel assesses the applications and the results of the assessments determine what projects will be the recipients of the grant money. The evaluation includes, but is not limited to, such aspects such as the experience and capability of the staff members, techniques and methodologies applied to various parts of the project, innovation, creativity, resources and total costs. MBDA notices can be viewed on the MBDA website, in the Federal Register, and on government websites.