Black professionals in the work space have always been subject to fighting for basic rights like equal pay. Not until the recent deaths of innocent Black Americans such as Breonna Taylor, George Floyd, Ahmaud Arbery and Elijah McClain did the world pause to hear the concerns from the Black Lives Matter – concerns that have always been here and another reminder that our community faces injustices daily.

The result looks like it could be the beginning of an economic change for an otherwise generally disadvantaged demographic. When companies chimed in on the Black Lives Matter conversation, claiming solidarity and support, initiatives like Sharon Chuter’s Pull Up or Shut Up campaign rose to hold them to their word, encouraging population parity among corporate and leadership roles. The #MyBlackReceipt movement encouraged $15 million spent with Black-owned businesses in just 16 days. Small, Black-owned businesses, particularly in the fashion industry, are seeing unprecedented amounts of visibility on social media, among other efforts moving the needle forward.

In addition to these traumatic events, studies have confirmed that Black-owned businesses were financially hit harder than others by the coronavirus pandemic, leading some brands and organizations to announce initiatives that would help fund Black-owned businesses. While some were dedicated to fashion and arts, others were non-industry specific. Some of these opportunities have come and gone, and the funding companies have awarded or are preparing to award winners, but there are still financial opportunities available for Black entrepreneurs in fashion and other small businesses.

Ahead, here’s 10 grants small businesses can apply to today for financial support.

1. Hello Alice’s Business for All Grant pledged $250,000 to small businesses. 15 business owners will be chosen, with the highest grant winner receiving $50,000. Hello Alice awarded $10,000 each to 65 Black business owners, recognizing that Black businesses have been disproportionately affected by COVID-19. The organization continues to take applications for both general Business for All grants, and COVID-19 Business for All grants.
2. Harlem’s Fashion Row held a virtual event, ICON 360, to raise funds for financial relief for designers of color, dedicating 100% ticket sales to the initiative. Additionally, Vogue and the Council Fashion Designers of America’s A Common Thread donated $1 million to the cause. Harlem’s Fashion Row is continuing to take donations to support the cause.
3. Lingerie brand, Thirdlove, announced their efforts to support the minority community as The TL Effect, an ongoing initiative that will focus on a new consumer-focused woman and POC-led company quarterly. Support for the early-stage start up company will be provided in the form of raising brand awareness, dedicating space in their San Francisco headquarters to the company’s needs, grants and mentoring.
4. The SBA 8(a) Business Development program is targeted to small-businesses that are at least 51% opened by U.S. citizens who are “economically and socially disadvantaged.” Program benefits include management and marketing assistance, the opportunity to firm joint ventures with established businesses, the opportunity to compete for federal contracting, and more.
5. FedEx’s Small Business Grant selects at least 10 winners yearly, awarding up to $25,000 each. This year, the initiative awarded more than $250,000 across 12 businesses.

The article “10 Financial Grants Black Fashion Entrepreneurs Should Know About Now” on ESSENCE highlights crucial grant opportunities that can help Black fashion entrepreneurs secure funding to grow their businesses.

For detailed information on these grants, you can read the full article on ESSENCE.