Starting a business is hard enough – but starting a business as a woman can be even harder. Not only do you have to worry about the same challenges as any other small-business owner, but you also have to deal with the unique hurdles that come with being a female entrepreneur. One of the biggest challenges for women in business is securing funding. This can be especially difficult if you’re not sure where to look for help. In this post, we will discuss some of the best options for small-business grants for women. We’ll also provide tips on how to apply for these grants and what to expect once you receive them!
Places Where You Can Find Small-Business Grants For Women
The Small Business Administration (SBA)
- The SBA is a government agency that helps small businesses grow and succeed.
- It provides loans, counseling, and training to small businesses across the United States.
- The agency’s goal is to help small businesses create jobs and spur economic growth.
- To be eligible, you need to meet criteria that include the size requirements, being for-profit, having a reasonable likelihood of success, and being U.S. based.
Small Business Innovation Research (SBIR) program
- The SBIR program is a competitive, multi-phase program.
- It provides small businesses with the opportunity to pursue federal research and development funds.
- This program is designed to stimulate technological innovation in the private sector and to strengthen the role of small businesses in meeting Federal research and development needs.
- To be eligible, businesses must have less than 500 employees, they must be for-profit, and must be run by citizens of the United States or legal permanent residents.
Minority Business Development Agency (MBDA)
- The MBDA is a government agency that helps minority-owned businesses grow and succeed.
- It provides counseling, training, and access to capital to help entrepreneurs start and expand their businesses.
- The agency also works to promote minority business ownership and economic development in communities across the country.
- To be eligible for this program, businesses must have 500 or fewer employees and must be at least 51% owned by a minority group.
Small Business Development Center (SBDC)
- The SBDC is a company that helps small businesses grow and succeed.
- They offer a variety of services, including business counseling, training, and resources to help companies succeed.
- SBDC is committed to helping small businesses succeed and grow.
- Eligibility criteria include being for-profit, independently owned and operated, and having 500 or fewer employees.
Women-Owned Small Business (WOSB)
- As a woman, you know the challenges of trying to get your business off the ground.
- These programs can provide the financial and practical support you need to succeed.
- So if you’re a woman with a brilliant business idea, don’t give up on your dream. Some people and organizations want to help you make it a reality.
- To be eligible, at least 51% should be unconditionally owned by one or more women who are U.S. citizens, and whose management and daily business operations reflect this ownership.
The Women’s Business Center (WBC)
- At the Women’s Business Center (WBC), we provide comprehensive training and support services to help women start and grow their businesses.
- Our focus is on helping women succeed in business, whether they are just starting or are established entrepreneurs.
- We offer everything from one-on-one counseling to group workshops and can help women with all aspects of starting and running a business.
- To be eligible for the Women’s Business Center (WBC), businesses must be under 50% women-owned, controlled, and operated.
Amber Grants
- The Amber Grants support women who are passionate about making a difference.
- These grants provide opportunities for women to pursue their dreams and embark on new journeys.
- The journey may be professional, personal, or creative—it’s up to the woman to decide.
- With the support of the Amber Grants, women can make a real impact in the world.
- Eligibility for an Amber Grant begins with being a woman over the age of 18 who owns her own business.
Eileen Fisher Women’s Initiative
- A holistic approach to supporting women of all ages in their personal and professional lives.
- From educational resources to financial assistance, the Eileen Fisher Women’s Initiative is committed to helping women grow and thrive.
- The initiative provides a variety of programs and services designed to empower women and help them reach their full potential.
- Through its work, the Eileen Fisher Women’s Initiative is making a difference in the lives of women around the world.
- To be eligible, women must be under the age of 30 and have a high school diploma or GED.
Steps to Fill The Application
Once you’ve found a few small-business grant programs that you’re eligible for, it’s time to start the application process.
- The first step is to gather all of the required information and documents.
- This can vary depending on the program, but common items that you’ll need include business tax returns, financial statements, and a business plan.
- Once you have all of the necessary information, you can begin filling out the application.
- Be sure to answer all questions truthfully and completely – if any part of your application is found to be inaccurate, it could jeopardize your chances of receiving funding.
- After you submit your application, the waiting game begins.
- The review process can take weeks or even months, so it’s important to be patient.
- If your application is approved, you’ll receive a notification from the grant program.
- Once you’ve been notified, you’ll need to provide additional information and documents to complete the funding process.
- This can include things like proof of business insurance, contracts, or permits.
Receiving a small-business grant is a great way to get the funding you need to start or grow your business. But it’s important to remember that this money isn’t “free”. You will be required to repay the grant if you fail to meet the terms of the agreement. Before you apply for any small-business grants, make sure you understand the requirements and are confident that you can meet them. With a little research and preparation, you can find the perfect grant program to help you get your business off the ground!
Conclusion
If you’re a woman entrepreneur looking for funding, small-business grants can be a great option. The best way to find the right grant for your business is to do your research and apply early! Applying for a small-business grant can seem daunting, but our tips will help make the process easier. Good luck!
