Black-Owned Small Businesses 

Programs for Black - Owned Businesses

  • Black Girl Ventures: The Black Girl Ventures offers guidance to Black/Brown women entrepreneurs in securing social and financial capital, there main focus is through the Black Girl Ventures Pitch a competition used to find funding and network. Check the BGV here

  • Small Disadvantaged Business Certification: Small businesses can register to federal contracts as a Small Disadvantaged Businesses. Eligibility applies for disadvantaged owners who are socially and economically disadvantaged. Criteria for this program can be found through the SBA

  • Black Chamber of Commerce of Wichita: The Wichita Regional Chamber of Commerce office offers marketing services and networking events for Black-Owned Businesses, as well as offering updates of funding and programs offered to minority entrepreneurs. 

 

  • Local Assistance:  Talk with your city/county to find more programs or funding in your local area 

Funding Options 

7(a) Loans: SBA loan program that offers funding for small businesses for short or long-term capital, expenses, and could be used for real estate in a business purchase. Funding amounts are provided up to $5 million.

504 Loans: Long-term funding made for small businesses at a fixed rate up to $5 million. This program is allowed for the purchase or construction of existing buildings/land, long-term machinery or equipment and new facilities. 504 loans can be found through Certified Development Companies (CDCs) via the SBA.

Capital Access Center (CAC): The CAC, part of the Kansas SBDC, is a consulting service to small business owners needing Capital (Loans, Lines of Credit, etc) or that have "Ask a Banker" type of questions that they would feel more comfortable asking the experienced staff at the CAC vs asking their own bank.

8(a) Business Development Program: Federal program done to provide contracting and assistance for Small Disadvantaged Businesses and gives access to business development through training, consulting, marketing, and technical assistance. 

SBA Mentor-Protege Program (MPP):  The SBA program that allows small businesses to partner (protege) with an experienced business (mentor) to guide proteges through business development. Check for eligibility

HUBZones Program: Federal program to aid small businesses located in historically underutilized business zones. If eligible, small businesses are able to set-aside contracts made specifically for HUBZone business, as well as a 10% price evaluation preference to contract competitions. 

Check for eligibility

Other Resources 

  • ​​Minority Business Development Agency: The MBDA helps provide customized business development and industry focused services to provide greater access to capital, contracts, and markets.

  • Start Small Think Big program: Start Small Think Big is a non-profit that aids small businesses through legal, financial, and marketing services. Start Small Think Big reaches out to all types of small businesses from minority-owned to veterans.  

Recommended Videos

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From our Capital Access Center, the Streamlined Business Plan for Raising Funds is a 5-page document that covers the major items needed to complement Financial Projections when working with a Lender.  You can find the Streamlined Business Plan Template & other helpful Loan resource tools at https://www.capitalaccesscenter.com/forms

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Courtesy of Kansas SBDC                                          

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Courtesy of Kansas SBDC at Pittsburg State        

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Funded in part through a Cooperative Agreement with the U.S. Small Business Administration.