The beauty industry is full of heavy competition. But it’s still possible for independent brands to break into the space, especially with help from small business grants. One major brand just launched a new funding round specifically aimed at small beauty businesses. Read about this opportunity and more below.
L’Oreal 2024 Inclusive Beauty Fund
L’Oréal USA recently announced its 2024 Inclusive Beauty Fund, a grant program that supports entrepreneurs in the beauty industry. This year, the company is teaming up with the NAACP’s Economic Empowerment Fund, Hispanic Federation, and GlobalGiving to provide 40 grants to eligible beauty businesses. The program originally launched in 2021 to support beauty entrepreneurs that were negatively impacted by the economic fallout of COVID-19. In addition to the grants, recipients also receive professional mentorship and other types of support from L’Oreal and its partners. The NAACP and Hispanic Federation, respectively. The NAACP and Hispanic Federation are administering the application process, with each awarding 20 one-time grants of $10,000. The application process is open now, and winners will be announced in April 2024.
Dairy Business Innovation Alliance Dairy Builder Business Grants
The Dairy Business Innovation Alliance is now accepting applications for its 2024 Dairy Builder Business Grants. The program is open to small- to medium-sized dairy farmers, manufacturers, and processors across several Midwest states, including Illinois and Indiana. Eligible businesses can apply for reimbursement grants of up to $100,000. Farms can use these funds to optimize their operations, create new products, or enhance export programs. The deadline to apply for funding is April 4.
San Antonio Construction Mitigation Grants
The City Council in San Antonio, Texas, recently agreed to provide another $1.4 million in grant funds to small businesses that have lost money due to disruptive local construction projects. However, they are still working out the details before the program officially starts accepting applications. The city expects the grants to range from $10,000 to $35,000 and would be available to businesses that employ 500 people or less. However, one of the elements still being discussed is adding income criteria to make sure money goes to businesses that aren’t owned by those who already have the means to overcome these financial challenges. In addition, the city expects to prioritize businesses located in the areas that have been impacted by construction projects with the longest duration, like those on Alamo Street and Broadway.
Atlanta Russell Innovation Center Comcast NBCUniversal Grant
Comcast NBCUniversal recently awarded a $1 million grant to Atlanta’s Russell Innovation Center for Entrepreneurs. The center plans to use these funds to improve its digital programming platform and create new initiatives. The Russell Innovation Center for Entrepreneurs offers a variety of programs aimed at promoting local Black entrepreneurship. This is just the latest in a long line of financial support from large corporate sponsors, including Walmart, Wells Fargo and PayPal. Thanks to these contributions, the center has raised nearly $44 million to meet its capital campaign goal.
Cherokee Nation Rural Business Grant
The Cherokee Nation recently received a $500,000 Rural Business Grant from the U.S. Department of Agriculture to support Cherokee citizen-owned businesses through small business loans and financing options. The Cherokee Nation has received more than $1.6 million from USDA Rural Development programs since 2022. They’ve used these funds to support various programs, including the Women, Infants and Children program and the Farm and Food Workers Relief program.
St. Clair County Emerge Fund/Entrepreneurial Grant
St. Clair County, Michigan is currently accepting applications for its Emerge Fund/Entrepreneurial Grant. The program targets startups and businesses that have been open for less than two years, have ten or fewer employees, and have under $1 million in revenue. Eligible businesses can apply for up to $5,000. Eligible businesses can apply by March 22.
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