Small Business Grants for Women

Small Business Grants for Women

Small business grants for women are essential resources, bridging financial gaps and empowering entrepreneurs. These grants offer crucial funding and support, fostering innovation and economic empowerment for women-led businesses.

Amber Grant

• Grant Overview: Established in honor of Amber Wigdahl, offering monthly ($10,000) and year-end grants ($25,000) for women-owned businesses in various categories.
• Eligibility: Women-owned businesses in different sectors.
• Application Process: Apply online through a single application considered for all eligible grants.
• Selection Criteria: Monthly review with winners announced by the 23rd of the following month.

SoGal Startup Grant

• Grant Overview: Aims to support Black women entrepreneurs, providing cash awards of either $5,000 or $10,000, along with professional guidance.
• Eligibility: Black women or nonbinary entrepreneurs with a plan for seeking investor capital and potential for scaling to a billion-dollar business.
• Application Process: Online application, demonstrating business idea and growth potential.

FedEx Small Business Grant Contest

• Grant Overview: Supports U.S.-based small businesses impacted by Covid-19, offering a grand prize of $50,000 and additional FedEx Office credits (up to $7,500) for business printing services.
• Eligibility: U.S.-based small businesses earning under $5 million in annual sales.
• Application Process: Create a FedEx account, submit application by February 28, 2022, with voting and winner announcements in subsequent months.

Cartier Women’s Initiative Award

• Grant Overview: Empowers female entrepreneurs globally, providing awards across 10 regions with grant amounts up to $100,000 for first-place winners.
• Eligibility: Woman-owned or women-led businesses in early stages of development, with a sustainable impact mission and revenue generation.
• Application Process: Download application online, demonstrating business impact and alignment with UN’s Sustainable Development Goals.

GrantsforWomen.org

• Grant Overview: An online platform helping women business owners find various grant and scholarship opportunities.
• Eligibility: Varies based on specific grant programs discovered through the platform.
• Application Process: Follow individual grant program instructions found on GrantsforWomen.org.

Eileen Fisher Women-owned Business Grant

• Grant Overview: Awards $200,000 in grant funding annually to eligible women-owned businesses, focusing on environmental and climate change initiatives.
• Eligibility: Women-owned businesses promoting sustainable economy, climate change adaptation, and female participation.
• Application Process: Online application when the program is active, with specific criteria related to business services and eligibility requirements.

Tory Burch Foundation

• Grant Overview: Supports women-owned businesses through business education grants, access to capital, workshops, peer-to-peer networks, and the Women of Color Grant Program.
• Eligibility: Women entrepreneurs owning at least 51% stake in their business.
• Application Process: Online application through the foundation’s website, selection based on annual Fellows program.

The Halstead Grant

• Grant Overview: Specifically for silver jewelry makers, providing a start-up grant of $7,500, along with smaller cash grants for semi-finalists.
• Eligibility: Silver jewelry artists, women and men, in need of financial support for their business.
• Application Process: Download application online, answer 15 business-related questions, and submit along with design portfolio images by August 1 deadline.

The Girlboss Foundation Grant

• Grant Overview: Awards grants to creative female entrepreneurs in arts, design, music, or fashion industries, offering $15,000 in funding and marketing-related benefits.
• Eligibility: Women-owned businesses in creative fields.
• Application Process: Application details available on the Girlboss Foundation website; semi-annual grants are awarded.

National Association for the Self-Employed Growth Grants

• Grant Overview: NASE offers cash grants of $4,000 to small business owners, supporting expenses like advertising, hiring, and business expansion.
• Eligibility: NASE members (specific membership types qualify for immediate or 90-day delayed application).
• Application Process: Apply through NASE membership, grants reviewed quarterly.

Federal Business Grants for Women:

Grants.gov

• Grant Overview: Federal government grants for women and men, searchable database for various grant opportunities.
• Application Process: Sign up for a Grants.gov Workspace account, complete individual grant applications available through the database.

Small Business Innovation Research and Small Business Technology Transfer Programs

• Grant Overview: Grants designed to help small businesses partner with research institutions to develop technology products.
• Application Process: Contact government agencies with open funding calls for projects aligning with business ideas.

Program for Investors in Microentrepreneurs (PRIME)

• Grant Overview: Grants for community-based organizations fostering growth for small businesses, particularly from disadvantaged communities.
• Application Process: Organizations receiving grants invest in their communities, benefiting local businesses. Contact recipient organizations listed on the SBA’s website for access to grant funding.

How Can Women Select the Best Business Grant?

For women entrepreneurs, selecting the right small business grant is crucial. This guide outlines key steps, including researching grants and crafting strong proposals, to help women secure the ideal funding for their ventures.

Determine Your Business Needs

Identify your specific business requirements, such as funding for expansion, technology, or operational costs. Understanding your needs will guide your search for suitable grants.

Research Government and Corporate Grants

Explore government and corporate grants in your region or industry. Understand the differences between them, including eligibility criteria and application processes. 

Review Eligibility Criteria Carefully

Examine the eligibility criteria of potential grants. Focus on grants that align with your business type and objectives. Avoid wasting time on applications for which you do not qualify.

Prepare a Strong Grant Proposal

Craft a compelling proposal outlining your business idea, its impact, and how the grant will be utilized. Clearly state your goals and the benefits the grant provider will gain by supporting your venture.

Submit Applications on Time

Adhere to application deadlines and submit all required documents accurately and promptly. Late or incomplete submissions may lead to disqualification, regardless of the quality of your proposal.

What Are the Alternatives to Small-business Grants?

Small business grants offer vital funding for entrepreneurs, particularly women-owned businesses. Exploring alternative options, including loans, crowdfunding, and microloans, enhances financial opportunities and business growth.

Small-Business Loans for Women

Finding the right small-business loan is essential for funding women-owned businesses. Entrepreneurs can explore diverse options such as SBA loans, online term loans, lines of credit, and microloans. These loans are tailored to meet the unique needs of women entrepreneurs, providing them with the necessary capital to grow their businesses.

Crowdfunding for Business

In the digital age, crowdfunding has emerged as a powerful tool for raising funds and promoting products or services. Women entrepreneurs can tap into the vast online community to showcase their business ideas and gather financial support from interested backers. Crowdfunding platforms offer a platform for showcasing creativity and innovation while securing financial backing from a global audience.

Small-Business Credit Cards

Small-business credit cards provide entrepreneurs with a convenient and flexible way to manage their finances. By comparing different credit card options, women-owned businesses can find cards that suit their specific needs. These cards not only facilitate everyday business purchases but also offer rewards programs, enabling entrepreneurs to earn benefits while managing their expenses effectively.

SBA Microloans

For new or very small businesses, SBA microloans present a viable funding option. These government-backed loans are offered through nonprofit financial institutions, providing entrepreneurs with accessible capital to kick-start their ventures. SBA microloans are particularly beneficial for businesses that require a modest amount of funding to initiate operations or expand their reach.