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SECURING FUNDING TO START AN INDIGENOUS BUISINESS
Involves tapping into both federal programs and Native-led philanthropic organizations. Key options include the First Nations Development Institute for community-focused projects, NDN Collective for Indigenous-led initiatives, and local Native CDFIs that provide highly accessible microloans and grants.
Exploring these top resources can help secure the necessary support to start your business:
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Federal & Government Programs: The U.S. Department of the Interior (BIA) offers targeted business planning and capacity-building assistance on or near tribal lands through Indian Affairs Starting a Business. Additionally, federal contracting preferences like the SBA 8(a) Business Development Program can help disadvantaged small businesses secure recurring government revenue.
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Indigenous-Led Organizations: Organizations like the First Nations Development Institute offer various grant cycles supporting grassroots projects, natural resource management, and economic development. The NDN Collective provides catalytic funding and community self-determination grants.
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Native CDFIs (Community Development Financial Institutions): For specialized, culturally competent financing, Native CDFIs are often the best starting point. Find your closest local institution using the CDFI Fund Locator. They provide non-traditional income loans, microloans, and business grants.
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State-Specific Grants: Depending on your state, there may be unique localized programs. For example, if you are located in Montana, enrolled members of the eight federally recognized tribes can apply for the Montana Indian Equity Fund.
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Regional Resources: For localized community development grants, it is also highly beneficial to check with your specific Tribal Nation's government, as many offer dedicated small business development funds or financial support for tribal members.
MEMBERS AFFILLIATIONS (TO NAME A FEW):
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SUFFOLK COUNTY ALLIANCE OF CHAMBERS
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LONG ISLAND AFRICAN AMERICAN CHAMBER OF COMMERCE
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RIVERHEAD CHAMBER OF COMMERCE
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SUFFOLK COUNTY AFRICAN AMERICAN ADVISORY BOARD
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SUFFOLK COUNTY NATIVE AMERICAN ADVISORY BOARD
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HEMPSTEAD CHAMBER OF COMMERCE
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HISPANIC CHAMBER OF COMMERCE
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MULTICULTURAL SOLIDARITY
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NATIONAL COALITION OF 100 BLACK WOMEN
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NATIONAL COALITION OF 100 BLACK MEN
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THE AFRICAN AMERICAN SMALL BUSINESS FOUNDATION, INC.
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BLACK PUBLIC RELATIONS SOCIETY NEW YORK, INC
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LONG ISLAND ASSOCIATION (LIA)
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NAACP
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LION'S CLUB INTERNATIONAL
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HAUPPAUGE INDUSTRIAL ASSOCIATION (HIA)
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WOMEN'S CHAMBER OF COMMERCE
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PROFESSIONAL WOMEN IN CONSTRUCTION
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RSCD AFRICAN AMERICAN EXPERIENCE
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ELEANOR LEGACY
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RIVERHEAD FREE LIBRARY
Nick Felix, Ms, MBA
Co-Director
Justin A. Winter, Sr., MSE
Co-Director
SECURING FUNDING TO START A BLACK BUSINESS
AAECF BIPOC Wall Street is committed to helping new and emerging Black-owned businesses gain access to the resources, guidance, and financial opportunities needed to build sustainable enterprises. We recognize that many talented entrepreneurs face challenges securing startup capital, navigating funding opportunities, and gaining access to networks that support long-term growth.
Through education, mentorship, business development support, and strategic partnerships with financial institutions, investors, community organizations, and economic development resources, AAECF BIPOC Wall Street works to bridge the funding gap for entrepreneurs who are ready to turn ideas into thriving businesses.
Our mission is to create pathways for aspiring business owners to access capital, develop strong business plans, strengthen financial literacy, and connect with opportunities that promote stability, job creation, and economic empowerment.
By investing in Black entrepreneurs and small businesses, we help strengthen communities, encourage innovation, and build a more inclusive economic future where businesses of all sizes have the opportunity to succeed.
1. Grants & Non-Repayable Funding
Long Island Association L.O.C.A.L. Small Business Grant Program
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Supports small businesses located in Nassau and Suffolk Counties.
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Provides grants designed to help businesses expand, innovate, and strengthen operations.
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The program has partnered with organizations including the Long Island African American Chamber of Commerce to broaden access.
Corporate & Foundation Grants
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Corporate-sponsored opportunities from companies supporting entrepreneurship, community development, and minority-owned businesses.
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Potential sources include:
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Banks
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Technology companies
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Utility companies
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Local foundations
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Community investment programs
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2. Microloans & Community Lending
Long Island Small Business Assistance Corporation (LISBAC)
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Provides microloans and financial literacy support primarily for start-ups, minority-owned businesses, women-owned businesses, and veteran-owned businesses on Long Island.
Long Island Development Corporation - LIDC
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Provides small business loans, economic development financing, and access-to-capital programs for entrepreneurs who may need alternatives to traditional bank lending.
3. Business Planning, Coaching & Funding Preparation
Stony Brook Small Business Development Center
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Offers no-cost counseling, business planning assistance, financial projections, and guidance on preparing for loans and grants.
Long Island SBDC Hosted by Farmingdale State College
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Provides entrepreneurs with business advising and resources to strengthen funding applications.
SCORE
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Volunteer mentors assist entrepreneurs with business plans, financial strategy, marketing, and growth planning.
4. Government-Backed Financing
U.S. Small Business Administration - Hauppauge
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Provides access to SBA-backed loan programs, lender connections, and small business development resources.
Potential programs:
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SBA Microloans
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SBA 7(a) Loans
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SBA Community Advantage Loans
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Veteran and underserved entrepreneur programs
5. Community Development & Economic Opportunity Funding
Community Development Long Island
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Supports economic opportunity, community development, and programs that strengthen underserved communities.
Suffolk County Economic Development
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Provides county-level economic development resources and business assistance connections.
FUNDING SOURCES FOR PEOPLE OF COLOR (BIPOC) Businesses & Organizations on Long Island
For Black, Indigenous, Hispanic, Asian, and other minority entrepreneurs and nonprofits on Long Island, funding can come from grants, minority business programs, loans, corporate sponsors, and community foundations.
1. Long Island Small Business Grants & Capital
L.O.C.A.L. Small Business Grant Program (Long Island Association Foundation)
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Supports small businesses in Nassau and Suffolk Counties
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Recent awards included $5,000 grants and larger growth awards
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Designed to help businesses expand, innovate, and strengthen local communities
Long Island Small Business Assistance Corporation (LISBAC)
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Provides financing assistance for:
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Minority-owned businesses
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Women-owned businesses
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Small businesses operating in Nassau and Suffolk County
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Offers small business loans and technical assistance to help companies grow
2. Minority Business Development & Contracting Opportunities
New York State Minority and Women-Owned Business Enterprise (MWBE) Program
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Helps certified minority-owned businesses compete for:
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State contracts
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Procurement opportunities
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Business development resources
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Benefits include:
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Increased visibility with government agencies
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Access to contracting opportunities
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Networking with corporations and municipalities
3. Black Business & Entrepreneur Support
Long Island African American Chamber of Commerce
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Supports Black-owned businesses through:
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Networking
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Business education
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Advocacy
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Connections to capital sources
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Potential support areas:
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Start-up funding preparation
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Business certifications
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Corporate partnerships
4. Community Foundation Grants (Nonprofits & Community Programs)
Long Island Community Foundation
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Provides grants to nonprofit organizations serving Long Island communities.
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Supports areas such as:
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Education
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Community development
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Social justice
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Economic opportunity
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Good fit for organizations working on:
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Cultural programs
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Youth development
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Violence prevention
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Workforce development
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Community empowerment
5. Federal & National Funding Sources
U.S. Small Business Administration (SBA)
Programs include:
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SBA loans
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Business counseling
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Government contracting assistance
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8(a) Business Development Program for eligible socially and economically disadvantaged businesses
Minority Business Development Agency (MBDA)
Provides:
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Business consulting
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Capital connections
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Contracting assistance
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Growth strategies for minority-owned companies
6. Corporate & Private Grants to Consider
Potential funders for BIPOC businesses and nonprofits:
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Bank of America Community Grants
Recommended Funding Strategy for a BIPOC Cultural Center, Business Incubator, or Community Initiative on Long Island
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Become MWBE certified (if eligible)
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Build a corporate sponsorship package ($5,000 / $10,000 / $25,000 / $50,000 levels)
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Apply to:
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Long Island Community Foundation
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Local business grant programs
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Bank community reinvestment programs
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Corporate diversity initiatives
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Partner with:
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Chambers of Commerce
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Colleges and universities
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Municipal governments
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Community organizations
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For an initiative such as AAECF, Inc. BIPOC Cultural Center & Museum / Economic Development Initiative, the strongest funding categories would likely be:
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Cultural preservation grants
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Community development grants
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Youth education funding
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Economic empowerment grants
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Corporate sponsorships
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Capital campaign contributions
I can also prepare a Long Island BIPOC Funding Directory with contact information, application links, and grant deadlines tailored for AAECF.