Now that you’ve got your financial situation in control and know how much you’ll require to start a small business. You should be ready to help and support. There are a lot of business support loans you can apply for. These can be a small business loan or even a business credit card. Just like any loan or credit card you’ll have to pay back the money that you’ve borrowed. This will also include unfair interest rates. In this blog, I’ll be giving you all the options you have when looking for small business grants for women.
Grants for women
The other option you can explore is a small business grant. There are not many options out there when it comes to business grants. There are small family foundations and government programs available and some of these grants are especially targeted at women. Applying for these grants can take up a lot of time and effort. If you’re able to put in the time and process these applications. These grants could really give you a lot of hard cash for your business.
National grants funded by foundations, nonprofits, and corporations
One of the leading small business grants for women on the market is the Amber Grant Foundation. The website offers you “how-to tips” as well as reports of the best opportunities available to women across the county. Not only do they offer advice. In addition, they also run small funding competitions that award $500 to different small businesses run by women each month.
National grants for women
When applying to win the award the application process is simple. You’ll be asked for your contact information as well as two simple questions. The two questions you’ll be asked will be to tell us about your business? and if awarded the grant what will you use it for?. From the 12 women awarded grants each year one will be in for the chance to win an extra $1000 grant.
The women’s clothing company Eileen Fisher has been finding the women-owned business grant for 13 years. Each year the company awards a total of $120,000 in grants to 12 recipients. In order to apply for a grant, the business must be majority women-owned and have a financial record for 3years. The revenue for the business should not exceed $1million a year prior to your application. It should be also be founded on “creating environmental and social change.” in order to apply.
If you have a non-profit organization that focuses on AAUW’s broader mission of promoting education. And equality for women and girls on a community level. And a business solely focused on women then you can apply for The American Association of Univerity Women grant. The grant offers between $2,000 to $10,000 one and two-year community action grants. If you wish to apply you must apply between August 1st and January 15th. Your application will be reviewed by the Grant committee once a year. However, you’ll be notified if successful by April the 1st.
Grant opportunities by state
There are many large corporations that manage grant-making programs. The requirements will vary depending on the company. The most common requirement would be for the company to benefit in the state that the corporation’s headquarters is located.
A good example of a larger corporation that offers business grants to women would be Zions Bank. The bank offers a $3,000 smart women grant which comprises six categories. These catergories include small businesses to entrepreneurs. A business “whose proposal promotes the empowerment of women or directly benefits women or low-income populations in Utah and Idaho” will only be considered.
Read: Grants for Single Mothers Going Back to College
Federal small business grants for women
Since 2011 the SBIR and SBTT programs have been open to all varieties of applicants. The main goal of the program has been to encourage women-owned small businesses and economically disadvantaged women-owned businesses. In addition, some contracts are set aside just for women business owners that fall under these two catergories.
These grants are some of the only grants available to small businesses that are offered by the government. However, these grants are focused on research and development which includes high-tech innovations. Although these grants are not offered by the U.S. Small Business Administration. However, they are the coordinating agency for the federal Small Business Innovation Research and Small Business Technology Transfer programs.
In Conclusion
When you’re looking to research business grants in your state googling the phrase “Small business grants for women” is a great way to start. You’ll be able to find local and regional opportunities. Another way to find grants is by contacting your local U.S small business women’s business center. These business centers are run by business owners and entrepreneurs. These business owners are consultants providing counseling on topics such as Grant funding.
If you visit Grants.gov you’ll be able to search for federal grant opportunities for both women-owned businesses and others. The website offers grants by 26 federal grant agencies. They also offer FAQs from other business owners that may answer a number of your own questions. The website is quite overwhelming with a lot of information so it’s important you search for the right page. The site is also a home for application registration and can be a great way for you to start.
