Minority Business Loan Programs

If you are a woman or an ethnic minority, you may be entitled to funds earmarked for minority business development. Many businesses and government organizations allocate funds to lend to minority business owners.

The Minority Business Development Agency (MBDA) is the only federal agency created specifically to foster the establishment and growth of minority-owned businesses. MBDA provides funding for a network of Minority Business Development Centers (MBDCs), Native American Business Development Centers (NABDCs), and Business Resource Centers (BRCs) located throughout the country. The centers provide minority entrepreneurs with personalized assistance in writing business plans, marketing, management and technical assistance, and financial planning to secure adequate financing for business ventures.

If you need additional help putting together your loan application package, you can contact your local small business development corporation. These agencies often make loans to applicants who have been denied for regular bank loans. Learn more about What Lenders Look for Before Granting a Small Business Loan.