10 Small Business Grant For Women You Need To Know

Small Business Grant For Women:

Not many people or organizations will hands out strings-free cash so you can turn your side hustle into a fully-fledged small business like that. However, this article will outline some useful places to start in your search for grant.

Small Business Grant

We’ll focus on:

Just keep in mind that competition for grants is very high. Very few businesses actually end up winning a grant. But if you know where to look and understand the benefits available, you can put your best foot forward. It’s a great deal-with a catch.

What are Business Grants for Women?

When you start a small business, there’s one thing you need more than anything else: money. Business grants are here to give you free money to set up your business. Sounds good, right?

Business grants are different from business loans, because you don’t need to repay them. The downside is that it can be harder to qualify for a business grant than for a business loan. But if you’re a woman starting a new business, it’s easier to qualify for dedicated grants for women’s small business.

The 10 Best Small Business Grants for Women

1. Girlboss Foundation Grant

Relatively new, the #GIRLBOSS grant targets female entrepreneurs in creative fields. They award two $15,000 grants each year, which includes exposure on Girlboss’ website and social media channels.

How to Apply

Being a grant for creative entrepreneurs, the application consists of samples of your work. To show your business acumen, you’ll also need to provide a well-thought-out plan as to how to use the money, how it will help your business, etc.

2. Amber Grants for Women

The Amber Grant is a monthly $500 grant, with larger grant opportunities in some rare cases. While the dollars are not as big as the five-figure award you may be after, every dollar counts.

Women can apply at the Amber Grants for Women website, and winners are picked from a judging panel from WomensNet. The grant is designed to help women reach that same goal in her honor.

How to Apply

The application process for the Amber Grant is a bit more simple. They just ask for information about your business, what you would do if awarded the money, and ask you to speak from the heart.

3. FedEx Small Business Grant

While the FedEx Small Business Grant isn’t exclusively for women, the sponsoring company makes a point to fairly distribute awards between men and women. 10 winners total take home a price, up to $25,000 for first place.

This grant recognizes “incredible small businesses from across the country.” If you are a woman that runs such a business, make sure to apply!

How to Apply

Another simple application process, FedEx just asks for your business name, that you’ve been in business for more than 6 months, have less than 99 employees, and are not a franchise, direct seller, or non-profit.

You’ll then need to provide information about your business plan, business story, and what you would do with the grant.

4. Idea Cafe Grant

Idea Cafe offers grants of $1,000. The quick and easy grant application is highly competitive, but if you have a great business idea that is “ground-breaking or a simple, but yet creative solution to an everyday problem, [Idea Cafe] would like to hear about it.”

This one is not specific to women, like the FedEx grant, but is very friendly to women applicants. The last three winners are women, as a matter of fact.

How to Apply

Idea Cafe doesn’t require a purchase or even a complete business plan to enter. As long as you sign up as an Idea Cafe Regular, you can enter for their grant and many others they advertise on their site.

5. Nav Grant

While not exclusively for female entrepreneurs, the Nav Grant is a great opportunity for a growing business looking to take the next step. First prize winners take home $10,000, and there are multiple opportunities to apply each year.

How to Apply

Applications are accepted through Facebook and should demonstrate a real issue that your business is facing, and very specifically how you would use the money if your business was selected.

6. Open Meadows Foundation

Open Meadows Foundation grants are biannual awards of $2,000. The grant is awarded to smaller organizations with an operating budget of under $75,000 per year. Grants are specifically for women-led projects that benefit women and girls.

The foundation looks for projects that are designed and implemented by women and girls, and focus on building community. Those with limited financial access have the best odds of taking home the prize.

How to Apply

Being by filling out this cover sheet and emailing it into the Open Meadows Foundation, along with all requested information. From there, someone may be in touch with you.

7. The Halstead Grant

This women focused grant is also industry focused. The Halstead Grant is an annual grant awarded to an exceptional jewelry designed working in silver. For 2018, the winner takes home $7,500 and $1,000 in supplies, plus a trip to Halstead’s offices in Prescott, Arizona.

This grant is certainly not for everyone, but it is great for women working with silver jewelry. If that sounds like you, learn more and apply.

How to Apply

Begin by downloading an application here, submissions are due by August 1st.

8. Belle Capital

Belle Capital offers investments in early stage, women-led companies. Like 37 Angels, they want a return on their investment. The Belle Capital fund is targeted to invest in 10 to 15 high growth companies.

Like other venture capital firms, they want to participate and bring expertise to help grow your business. This is no handout.

How to Apply

Learn more at Belle Capital, including the strict investment criteria. They are looking for small businesses that can reach $20 million in revenue within five years. Some others on this list are good for small businesses, but this investment is just for the big girls. APPLY NOW

9. GrantsforWomen.org

New, smaller grant opportunities are always popping up, GrantsforWomen.org can help you find new opportunities for business or working capital help that may otherwise slip by unnoticed. While this database is not business-specific, you can put in the time to find business grants and possibly help your business get off the ground.

10. Eileen Fisher Women-Owned Business Grant Program

The Eileen Fisher Women-Owned Business Grant is one of the best-known women-focused grant programs around. Since 2004, this grant program has helped women-owned non-profit companies that are already beyond the business startups phase expand their business, with attention paid to social and environmental impact.

Eileen Fisher is a women’s clothing brand, and it awards $100,000 in annual grants. Up to 10 recipients get at least $10,000 injected into their business. Learn more at Eileen Fisher.

How to Apply

In order to qualify for this grant, your business must be an IRS-recognized 501(c)(3) organization with financial statements to demonstrate one full year of operations.

You must also serve a demographic related to the grant’s initiatives and executive leadership should reflect the target demographic.

Your business will not be eligible to apply if it promotes the views of a specific political party or religion, does not have a female executive leader, or a number of other specifications.

FAQS

1. What is a Small Business Grant?

A grant is money awarded to a grantee (person receiving a grant) to carry out the specific project or venture they planned to carry out in the grant proposal.

2. What is a Grant Proposal?

A grant proposal is a document that provides the potential grantor of funds with pertinent information regarding the business or venture. It includes highly detailed goals and objectives as well as timelines and methods for achieving them..

3. Are grants easy to obtain?

No! Anytime anyone gives anyone money without expecting repayment, it is not going to be easy. Grant proposals are highly detailed documents that require you to plan for many segments of your business including personnel, operations, and financial segments

4. What is the size of government grants?

This will depend on the specific grant. For a small business that needs a minute amount of money to continue, it can be a couple of hundred dollars. For scientific research to find a cure for a disease, it can be millions of dollars.

5. Do government grants have to be repaid?

Grants by definition do not have to be repaid, but because of this fact, grants are difficult to obtain and the grantor of the funds will continue to make sure that you comply with the requirements set forth in the grant.

6. How long does it take to get money from government grants?

A date will most likely be arranged for transfer of funds upon approval of the grant. However, the approval process can take anywhere from a few months to a year.

Bottom Line

 

Business Grant

It might seem like there aren’t a ton of small business grants available for women to start or grow a business, but the 10 above should give you a good head start.

Whichever grants you apply for, make sure you do careful research into the eligibility requirements and submit your application on time.

I hope this article was of earnest help. Learn more from our new related articles here.

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