Starting and running your own business can be a costly process. If you identify as a woman, you can find a variety of women’s small business grants in the market that may be able to assist you with funding. In this article, you will learn the type of grants for women-owned businesses, including where to locate them, how to apply for them, and how to benefit from them.
Grants are available from government agencies, NGOs, and private organizations to small-business entrepreneurs.
Grants are free funds that do not need to be repaid. Some grants are intended exclusively for female or female-identifying entrepreneurs, while others are open to all small-business owners who meet certain criteria.
There are numerous grants and funding resources available to assist female entrepreneurs. The majority are supported by private foundations or corporations.
Here are 10 grants and funding options available to women-owned small businesses.
Every month, the Amber Grant Foundation gives a $10,000 grant to a woman-owned business. Womensnet.com built it in remembrance of Amber Wigdahl, a lady who died before realizing her business goals.
Each year, one of the 12 grant winners receives an additional $25,000 at the end of the year.
The foundation’s advisory council selects the winners, who are women with distinctive and remarkable stories.
The application is simple: you must write an explanation of your firm, clarify how you intend to use the grant funds, and pay a $15 application fee.
The application deadline is at the end of each month, so you can apply at any time of year.
Every year, this fund gives two tiers of prizes to 21 female entrepreneurs around the world. Seven finalists will receive $100,000 in addition to professional mentoring sessions, while 14 applications will receive $30,000 each.
The Cartier award is intended for female company owners whose companies are in their initial one to three years of operation.
The company must generate income, but it does not have to be profitable.
The US Chamber of Commerce sponsors the Dream Big Awards, which recognize the top American small businesses, as well as the Woman-Owned Business Achievement Award. The grand prize is $25,000 in cash.
The following are the business eligibility requirements:
- For-profit company that has been in operation for at least one year and is predominantly based in the United States.
- Have less than 250 employees or annual gross revenue of less than $20 million.
Each year, Eileen Fisher, a women’s clothing retailer, gives up to ten women business entrepreneurs a total of $100,000.
The grants recognize women who use their small companies to make a significant difference in society and the environment.
The following are the eligibility requirements:
- The business has been in business for more than three years.
- Annual sales for the company are less than $1 million.
- At least 51% ownership and leadership by women.
- Environmental or social change-oriented businesses.
This grant is awarded twice a year to female and female-identifying entrepreneurs working in design, fashion, music, and the arts. Each winner receives $15,000 in project cash as well as digital exposure on Girlboss’ website and other media outlets.
The fund is intended for women working in the fashion, music, art, and design industries.
Applicants are evaluated by a committee based on their originality and innovation, business acumen, career objectives, and financial necessity.
The Halstead Grant is intended for female entrepreneurs in the jewelry sector in the United States. The initiative is aimed primarily at enterprises that are less than three years old.
Winners get a $7,500 cash grant, $1,000 in Halstead jewelry supplies, and industry awareness.
Applicants must respond to a series of questions about their business objectives and strategy. The grant’s judges provide input on all applicants’ business plans.
IFundWomen connects women-owned small businesses with grants, mentors, and investor opportunities. It has a grant pool worth over $8 million.
You can apply directly to the program or use the website to find applications for a number of grants.
The SoGal Foundation awards grants of $5,000 and $10,000 to black women and nonbinary entrepreneurs. The awards are distributed on a rolling basis.
The following are the eligibility requirements:
- Plan to seek investor funding to assist your business to grow.
- Have a scalable solution or idea that aspires to be the next $1 billion company.
- Have a legally registered business.
Stacy’s Pita Chips established the Stacy’s Rise Project, an annual funding and mentorship program for women in business.
Ten finalists will each receive a $10,000 grant as well as business mentoring.
Small enterprises that qualify must meet the following requirements:
- Annual sales of at least $25,000 but no more than $1 million.
- Take part in a virtual mentoring program.
- At the time of entry, you must not be a part of an accelerator program.
The Tory Burch Foundation provides a year-long fellowship as well as a $5,000 award to women-owned small companies. The following are the business eligibility requirements:
- Women own the majority of the businesses.
- For-profit with a minimum revenue of $75,000
- Operating in the United States
These are the most important women’s small business grants that you can find to fund your entrepreneurship. There is more information on each official website, so you can take a look to see if it fits you and your business.
Don’t waste time and money without knowing if you qualify for any of these funding options.