Sky’s the Limit Friends & Family Fund: $2,500 Business Grant for Underrepresented Entrepreneurs

Grant Overview

Monthly startup grants + mentorship for entrepreneurs who face barriers to traditional funding

Sky’s the Limit throws the traditional grant application process out the window. This business grant operates on community power, where fellow entrepreneurs boost your pitch until one emerges victorious each month. Unlike emergency hardship funds, this program builds long-term business sustainability through mentorship connections, peer collaboration, and strategic capital injection for underrepresented founders.

The Friends & Family Fund bridges a critical gap that many entrepreneurs face. While some business owners can tap relatives or wealthy connections for startup capital, Sky’s the Limit recognizes this privilege isn’t universal. Their monthly business grant competition creates an alternative family – a community of 45,000+ entrepreneurs and mentors who collectively decide which ventures deserve backing.

Donor: Sky’s the Limit

Focus: business grant, startup funding, entrepreneur grants, minority business funding, women entrepreneurs, BIPOC entrepreneurs, LGBTQ+ entrepreneurs, mentorship, community support, early-stage funding

Region: United States, Canada, United Kingdom

Eligibility:
– Must be from an underrepresented group (women, BIPOC, LGBTQ+, veterans, disabled individuals, formerly incarcerated, refugees, immigrants, low-income background)
– Have a business idea or existing business
– Based in the United States, Canada, or United Kingdom
– Complete a profile on Sky’s the Limit platform
– Submit a funding pitch with video and budget details
– Participate in community activities and seek mentorship

Benefits:
– Financial Award: $2,500 startup grant (or £2,000 in the UK)
– One-on-one mentorship with business experts
– Access to business tools and resources
– Community networking opportunities
– Free business workshops and events
– Pitch practice and feedback sessions
– LinkedIn badge for winners

Deadline: Monthly rolling deadline with live pitch events on the 2nd Thursday of each month

Finding business grant funding as an underrepresented entrepreneur feels like searching for a needle in a haystack sometimes. The statistics are actually pretty depressing when you look at them. Black-founded startups received less than 0.5% of all venture funding in 2023. Women founders got just 2.3% of VC dollars. And when you drill down to Black women? We’re talking 0.1%. That’s not a typo – point one percent. It’s why programs like this business grant from Sky’s the Limit matter so much. Minority entrepreneurs face these challenges every single day, and honestly? It’s exhausting.

Why This Business Grant Hits Different

Most business grants I’ve researched follow the same boring pattern – long applications, confusing requirements, and then you wait 6 months only to get a rejection email. Sky’s the Limit decided to flip that script completely. Their Friends & Family Fund works on this community-driven model where entrepreneurs submit pitches and then the actual community gets to boost the ones they believe in. It’s like Shark Tank but without the mean billionaires making you cry on national television. The top two most-boosted pitches automatically go to the live pitch event, plus they pick a “wildcard” finalist because sometimes the best ideas don’t get the most boosts right away.

Smart, right? Small business funding opportunities rarely think this creatively about their selection process.

And get this – it happens every single month. Not once a year. Not twice a year. Every. Single. Month. That consistency matters when you’re running a startup and cash flow is tighter than your jeans after Thanksgiving dinner.

I’ve talked to entrepreneurs who’ve applied for traditional grants and had to wait 8-10 months just to hear back, by which point their business opportunity might have completely evaporated. With this business grant, if you don’t win in January, you can immediately start prepping for February. No long waiting periods, no wondering if you should just give up already. Startup grants that operate on this kind of frequent cycle are practically nonexistent elsewhere.

The Numbers Don’t Lie (And They’re Pretty Impressive)

Sky’s the Limit has built something genuinely impressive here. We’re talking over 80,000 underrepresented entrepreneurs who’ve signed up for their platform across all industries – fashion, food, beauty, tech, consulting, you name it. The diversity stats tell the real story: 70% identify as women, 60% as Black, 80% as people of color, and 90% report low income.

These aren’t just numbers on a page – they represent thousands of people who’ve been systematically locked out of traditional funding sources but are now getting a real shot at building something meaningful. Women entrepreneurs particularly benefit from this kind of targeted support.

What really blows my mind is that they’ve got 11,000+ entrepreneurs actively being mentored through their platform. Think about that for a second. Eleven thousand people getting guidance, support, and connections they wouldn’t otherwise have access to. Research shows entrepreneurs with mentors are 5 times more likely to successfully launch and grow their businesses. Five times! That’s not a small advantage – that’s the difference between success and failure for most early-stage ventures. Black owned businesses especially need this kind of mentorship network to overcome systemic barriers.

Real Success Stories From Real People

I could throw more statistics at you, but honestly? The success stories tell you everything you need to know about why this business grant matters. Take Kaitlyn Maycumber, founder of KB Brows & Lashes. She said, “Thank you! Last year I could not have imagined where I’m at today. Every single goal I wrote down I’ve accomplished, and I could not have done that without the encouragement, support, and guidance I received through Sky’s the Limit.”

That’s not just about money – that’s about someone believing in her and giving her the tools to succeed. Small business grants that provide this level of holistic support are rare indeed.

Or Joshua Funches from National Youth Bike Council who put it simply: “Sky’s the Limit works. The access to connections and the way the program is set up are incredible. I wouldn’t know that Claudia [my volunteer mentor] exists without Sky’s the Limit.”

Then there’s Kerry Miller from Custom Eyes By Kerry: “Sky’s the Limit has helped me with business tools and support. I have more to learn yet, and there are even more resources I haven’t even gotten a chance to look at yet. I met an amazing mentor, Matt Manzi, and I am so grateful for his help!” Notice a pattern here? It’s never just about the cash. It’s about the community, the resources, the mentorship – the whole ecosystem that Sky’s the Limit has built around their business grant program. United States business grants rarely provide this comprehensive support system.

How The Heck Do You Actually Apply?

Okay, so you’re probably wondering how to get in on this business grant action. The process is surprisingly straightforward compared to most grant applications I’ve seen. First, you create a complete profile on the Sky’s the Limit platform. And I mean complete – don’t just throw up a profile picture and call it a day. The more detailed your profile, the better they can match you with mentors and resources that actually make sense for your business. Think of it like dating for your business – the more specific you are about what you’re looking for, the better your matches will be. Startup funding opportunities often have complicated applications, but this one keeps it simple.

Once your profile is solid, you submit a funding pitch. This isn’t just a written application – you need to include a video presentation, budget details, and a clear explanation of how exactly this business grant would help your business move forward. Be specific here. Don’t just say “I need money for marketing.” Say “I need $500 for Facebook ads targeting women aged 25-35 in the Chicago area who are interested in sustainable fashion.”

See the difference? Specificity shows you’ve thought this through. Grant money goes to entrepreneurs who can clearly articulate their plans.

After submission, your pitch goes live on the platform where community members can boost it daily (each person can boost a particular pitch once per day). This boosting period usually lasts about a month, and during this time, you should be actively engaging with the community – helping other entrepreneurs, attending events, basically being a good digital citizen.

The top two most-boosted pitches advance to the live pitch event, along with one wildcard selection from the Sky’s the Limit team. Business grants with this kind of community involvement create a more democratic selection process.

The Live Pitch: Where Magic Happens

The live pitch event happens every 2nd Thursday of the month, and it’s where the final three entrepreneurs present their business ideas to a panel. Votes are collected through MentiMeter (which is basically like a real-time polling system), and they announce the winner right there during the event. The first-place winner gets the $2,500 business grant plus a LinkedIn badge (which might not sound like much but actually carries some weight in professional circles). Second and third place each get $100 Visa gift cards – not life-changing money, but still a nice recognition of your effort. Entrepreneur grants rarely offer this kind of live feedback opportunity.

Now, I know what some of you are thinking – “I hate public speaking! There’s no way I can do a live pitch!” And honestly? That’s valid. Public speaking consistently ranks as people’s number one fear, even above death. But Sky’s the Limit gets this, which is why they provide resources like pitch video guides, budget templates, and examples of successful pitches to help you prepare. They even host monthly pitch practice events where you can get feedback and refine your presentation in a supportive environment before the actual competition. North America grants that provide this level of preparation support are few and far between.

Frequently Asked Questions (Because I Know You’re Wondering)

Q: Can I apply for this business grant more than once?
A: You can only win the Friends & Family Fund once, but don’t worry – there are other special funding opportunities throughout the year that you might be eligible for. Sky’s the Limit is always rolling out new programs for their members.

Q: Do I have to pay back the $2,500?
A: Nope! This is a grant, not a loan. The money doesn’t need to be repaid, but you do need to spend it on business-related expenses. They’ll ask you to sign a grant agreement, but that’s just standard paperwork to make sure everyone’s on the same page.

Q: What if public speaking terrifies me?
A: You’re definitely not alone in that! The live pitch can be intimidating, but Sky’s the Limit provides tons of support to help you prepare. Plus, the community is incredibly supportive – they want to see you succeed, not judge you.

Q: How long until I get the money if I win?
A: Winners typically receive funds within 2-4 weeks after winning, once all the grant agreement paperwork is signed. It’s not instant, but it’s faster than many other grant programs I’ve researched.

Q: Can established businesses apply or is this just for startups?
A: Early-stage established businesses are welcome to apply! The focus is on entrepreneurs who still need that initial push to get to the next level, whether they’re just starting out or have been operating for a little while.

Q: What happens to my pitch if I don’t win?
A: If you don’t win, your pitch gets unpublished but you keep all your boosts. You can refine it based on feedback and resubmit for the next round. Many entrepreneurs don’t win on their first try but succeed after making improvements.

Q: How competitive is this business grant really?
A: Competition varies each month, but entrepreneurs who actively participate in the community tend to have better chances. It’s not just about having the best business idea – it’s about being engaged and helping others too.

Timeline: What to Expect When You’re Expecting (Grant Money)

Understanding the timeline is crucial if you’re serious about this business grant opportunity. The program runs like clockwork each month, which is actually pretty refreshing in the chaotic world of entrepreneurship:

– Pitch Submission: You can submit anytime during the month – no strict cutoff dates to stress about
– Boosting Period: Roughly one month for the community to boost your pitch (this is when you should be super active on the platform)
– Finalist Notification: First week of the following month – they’ll email you if you made it to the top 3
– Live Pitch Event: 2nd Thursday of each month – mark your calendar!
– Winner Announcement: Right there during the live event – no agonizing wait
– Fund Disbursement: Typically within 2-4 weeks after winning (once paperwork is complete)

This predictable schedule means you can plan your business activities around the grant opportunities. If you miss one month’s deadline, no big deal – just start preparing for the next cycle immediately. Consistency is key in business, and Sky’s the Limit has built that consistency right into their business grant program. Black business grants with this kind of regular schedule are incredibly valuable for planning purposes.

The Bigger Picture: Fixing What’s Broken in Entrepreneurial Funding

Let’s get real for a minute about why this business grant program exists in the first place. The entrepreneurial funding landscape is messed up – like, seriously messed up. Startups owned by people of color are 20 percentage points less likely than white-owned startups to fund themselves through traditional means. Women founders get only 2.3% of all venture capital funding. And these disparities get even worse when you look at entrepreneurs who belong to multiple underrepresented groups. Minority business grants like this one are trying to close those gaps.

Sky’s the Limit didn’t create their Friends & Family Fund in a vacuum. They recognized that talent and entrepreneurial potential are evenly distributed across all communities, but opportunity and access to resources definitely are not. By focusing specifically on underrepresented entrepreneurs, they’re helping to level a playing field that’s been uneven for generations. This isn’t about handouts – it’s about correcting systemic barriers that have prevented entire communities from participating fully in the entrepreneurial economy. Startup funding opportunities that acknowledge these systemic issues are still relatively rare.

What Winning Actually Looks Like (Beyond the Money)

I’ve been researching business grants for years, and I can tell you that the $2,500 financial award, while helpful, isn’t even the most valuable part of winning the Friends & Family Fund. The real value comes from everything else that comes with it – the mentorship, the community connections, the visibility, and the confidence boost that comes from having your business idea validated by experts and peers. Business grants that provide this comprehensive support package are worth their weight in gold.

Many winners report that the connections they make through the program end up being more valuable than the grant money itself. I’ve heard stories of winners connecting with mentors who introduce them to investors, or community members who become their first paying customers, or fellow entrepreneurs who become long-term business partners. The money helps get things started, but the relationships and networks built through the program often end up being what sustains the business long-term. Entrepreneur funding opportunities that understand this relational aspect of business building are the ones that create lasting impact.

Common Mistakes to Avoid (Because I Want You to Win)

Look, I’ll be straight with you – applying for business grants can be frustrating, and most people make the same mistakes over and over again. After analyzing dozens of successful and unsuccessful grant applications, I’ve noticed some clear patterns that separate winners from everyone else. First, don’t treat your pitch like a dry business document. Tell a story! People connect with stories, not bullet points. Explain why you started this business, what problem you’re solving, and why you’re the person to solve it. Grant funding committees hear hundreds of generic pitches – make yours memorable.

Second, be ridiculously specific about how you’ll use the money. “I need $2,500 for my business” is weak. “I need $2,500 to purchase inventory of my signature organic skincare line, which will allow me to fulfill 50 orders at $50 profit each, generating $2,500 in revenue within 60 days” – that’s strong. Show them you’ve thought through the math and that their investment will actually move the needle for your business. Small business grants go to entrepreneurs who demonstrate clear thinking about resource allocation.

Third, and this is huge – participate in the community before, during, and after your application. I’ve seen too many entrepreneurs create a profile, submit a pitch, and then disappear until the results are announced. That’s not how this works. The people who win are typically the ones who are actively helping others, attending events, and building relationships within the Sky’s the Limit ecosystem. It’s called a “community” for a reason – you get what you give. Veteran entrepreneurs often excel at this community-building aspect.

Honestly, putting together a winning grant application takes significant time and effort. If you’re serious about this business grant opportunity and want to maximize your chances of success, that’s where we come in at Grantaura. Our expert grant writers have helped hundreds of entrepreneurs secure funding by crafting compelling pitches that stand out from the competition. A little professional guidance on your grant proposal can make all the difference between winning and missing out. CLICK HERE to get the GRANT PROPOSAL WRITING help you need to secure this business grant.

Check Your Eligibility

This interactive eligibility tool will help you determine if you qualify for the Sky’s the Limit Friends & Family Fund business grant. Simply click “Let’s start” and answer a few questions about your background and business idea. If you’re eligible, you’ll be guided to an assessment form where our experts can review your application and provide personalized feedback to improve your chances of winning this valuable business grant.

16 More Business Grant Opportunities For Underrepresented Entrepreneurs

1. Secretsos™ Small Business Grants USA $2500 Funding: Quarterly $2500 business grants for underserved entrepreneurs in the USA with no business plan required and complete spending flexibility.
2. BizConnect Small Business Funding: $5K Grant + Mentorship: Get $5000 in small business funding plus expert mentorship through BizConnect, designed for distressed businesses needing support.
3. amika Rooted In Growth Startup Grant: $50,000 for Hair Brand Founders: Four underrepresented hair care entrepreneurs will receive substantial funding plus industry mentorship and major beauty channel exposure through this competitive business grant program.
4. Hey Helen Grant: $5,000 Women-Owned Business Funding: Mission-driven female founders can access cash grants designed specifically for proven, impactful ventures with clear social or environmental benefits.
5. Galaxy Grant: $2,450 for Women & Minority Entrepreneurs: Monthly business grant opportunities targeting women and minority-owned businesses with additional luxury prize incentives beyond traditional cash awards.
6. She’s Connected by AT&T: $50,000 Business Grant: National contest combining substantial funding with media exposure and high-level mentorship for established small business owners seeking growth capital.
7. Michigan Women Entrepreneurs: $10K Olga Loizon Grants: Regional business grant program honoring a successful restaurateur by supporting women entrepreneurs throughout Michigan with significant development funding.
8. Square Cornerstone Grant: $10K Business: Apply for Square’s $10K business grants with expert mentorship, perfect for small business owners using Square payment processing.
9. $100K Poker Power Grant Money For Small Business 2025: Revolutionary $100K grant money for small business owners through Poker Power x IFW competition with mentorship and coaching included.
10. ZenBusiness Grant Program: Empower your small business with ZenBusiness’s $5K Grant, available to U.S. entrepreneurs who used ZenBusiness services in the last 3-6 months.
11. Home For Dreams: $25K Black Business Grants: Parachute’s Home for Dreams gives $25000 in Black business grants plus 6 months mentorship through an application-based program.
12. Startups Grants: Comprehensive collection of grant opportunities specifically designed for startups at various stages, from idea to growth phase.
13. Women Entrepreneurs Grants: Specialized grant opportunities designed for women entrepreneurs, addressing the unique funding challenges faced by women in business.
14. Minority Entrepreneurs Grants: Curated selection of specialized grant opportunities for minority entrepreneurs, vetted by experts to ensure relevance and accessibility.
15. Black Owned Businesses Grants: Dedicated funding opportunities for Black entrepreneurs and business owners, addressing systemic barriers to capital access.
16. Business & Enterprise Grants: Comprehensive grant opportunities for businesses of all sizes, from startups to established enterprises seeking growth capital.

Grantaura maintains the most comprehensive database of active business grant opportunities, updated daily with new funding announcements. Our platform helps entrepreneurs identify relevant opportunities, assess eligibility requirements, and track application deadlines across hundreds of programs simultaneously.

Terms

• Business Grant: Free money given to businesses that doesn’t need repayment, usually from governments or organizations supporting specific causes. This business grant from Sky’s the Limit focuses on helping underrepresented entrepreneurs who traditionally struggle to access funding.
• Underrepresented Entrepreneurs: Business owners from groups historically marginalized in business funding – including women, BIPOC, LGBTQ+ folks, veterans, disabled persons, formerly incarcerated individuals, and those from low-income backgrounds. This business grant specifically targets these groups who face systemic barriers.
• Startup Funding: The initial money needed to launch a business, often the hardest capital to secure. The Friends & Family Fund provides crucial startup funding through its monthly business grant program, giving entrepreneurs that vital first push.
• Pitch: A presentation of your business idea to potential funders. In this business grant program, entrepreneurs submit video pitches showing their passion and explaining how the funding would help their business grow.
• Boost: How community members show support for pitches on Sky’s the Limit’s platform. Similar to voting, boosting helps determine which business grant applications advance to the final round.
• Mentorship: Guidance from experienced professionals to help less experienced entrepreneurs navigate business challenges. This business grant program includes one-on-one mentorship as a core component.
• Community Funding: A model where financial support comes from or is influenced by a community rather than traditional institutions. This business grant uses community boosting to help select winners.
• Eligibility Criteria: The specific requirements applicants must meet to qualify for a business grant. For this program, criteria include location, underrepresented status, and business stage.
• Grant Agreement: A legal document outlining the terms of receiving a business grant. Winners must sign this before receiving funds from Sky’s the Limit.
• Business Milestones: Important achievements in a business’s development. This business grant program helps entrepreneurs set and reach key milestones through mentorship.
• Seed Capital: The initial funding used to start a business. The $2,500 business grant provides essential seed capital for early-stage ventures.
• Entrepreneurial Ecosystem: The network of support systems helping entrepreneurs succeed. Sky’s the Limit creates a supportive ecosystem through this business grant program.
• Voting Period: The timeframe when community members can boost pitches for the business grant. This typically lasts about a month for each funding round.
• Wildcard Selection: A third finalist chosen by the Sky’s the Limit team for the live pitch event, ensuring deserving business grant applicants aren’t overlooked.
• Business Plan: A document outlining business goals and strategies. While not always required for this business grant, having one strengthens applications significantly.
• Financial Statements: Documents showing a business’s financial performance. These may be requested as part of the business grant application process.
• Grant Writing: The process of preparing grant applications. Professional grant writing services, like those offered by Grantaura, can improve chances of winning this business grant.
• Social Capital: The networks and relationships that enable cooperation within groups. This business grant program helps build social capital through community connections.
• Business Incubation: Services supporting early-stage businesses. While not a formal incubator, this business grant program provides similar support through mentorship.
• Entrepreneurial Mindset: The attitudes and behaviors of successful entrepreneurs. This business grant program seeks applicants with this mindset.

Author

Imran Ahmad founded Grantaura after witnessing too many brilliant entrepreneurs struggle with funding access despite having world-changing ideas. His work in grant funding since 2021 has connected over 300 clients with capital opportunities, maintaining a 4.9-star rating through personalized guidance that goes beyond generic application advice. Imran’s approach to business grant success combines strategic application development with practical mentorship, recognizing that entrepreneurs need both funding access and business development support to transform ideas into sustainable ventures. Through Grantaura’s comprehensive platform, Imran continues expanding funding access for entrepreneurs who might otherwise lack the network connections that traditional business ownership requires.