The United States Hispanic Chamber of Commerce (USHCC) recently unveiled the BGE Energizing Small Business Fund and the MasterCard Catalyst Fund — two new major funds targeting diverse small business owners with capital. Applications for both are open through the end of March.

The BGE Energizing Small Business Fund (Maryland)

The first round of funding in 2023 for Maryland-based small businesses through the BGE Energizing Small Business program is now open.

As part of BGE's Comprehensive Energy Infrastructure Investment and Customer Assistance Plan, designed to help the state's economic recovery from the pandemic, eligible businesses in BGE's service area can apply for BGE Energizing Small Business grants up to $20,000.

The grants prioritizes businesses operated by historically underrepresented groups that demonstrate a commitment to growth and prosperity in 2023.

To be eligible, qualifying companies must take into account the following requirements:

• Have between one and 25 employees
• Have less than $7 million in annual revenue
• Present a demonstrated need for support with a solid plan for moving forward and be in (or on track to be in) good standing with the State of Maryland

The deadline to submit an application is Friday, March 24, 2023 at 6:00 p.m. ET.

For more information, click here.

It’s time for YOU to own your adventure.

Designed to grow WITH your small business, the #HelloAliceSmallBusinessMastercard is ready to support you wherever your journey takes you.

Adventure awaits! Visit https://t.co/QIiZ2ghkaf to learn more.

*Terms and conditions apply. pic.twitter.com/V2ratkwrf5

— Hello Alice (@HelloAlice) March 17, 2023

The Mastercard Catalyst Fund

In partnership with the Global Entrepreneurship Network (GEN) and Hello Alice, Mastercard launched The Catalyst Fund to provide $175,000 in grants to Black entrepreneurs to help them succeed.

Emphasizing its goal of empowering small businesses in the U.S. by bringing together financial service providers, small business support organizations, and technology platforms, Mastercard seeks to equip small businesses with digital tools to strengthen their resilience and growth.

To be eligible, applicants must be a for-profit business majority-owned (greater than 51%) by Black-identifying businessperson(s) based in Atlanta, Birmingham, Dayton, Los Angeles, New Orleans, New York City, St. Louis and/or Washington D.C.

Applications are open until Friday, March 31, 2023 at 6:00 p.m. ET.

Learn more here.

“If you have questions or want guidance applying for the below grants or other funding opportunities, our bilingual business advisors can help. Make an appointment for a free, 30-minute consultation with one of our business experts,” said the USHCC.