If you are a female entrepreneur, raising capital can be sometimes challenging. In a bid to help female entrepreneurs to succeed, the USA government, most private organizations give small business grants for women. Grants are free money that you do not have any commitment to pay back, unlike small business loans and credit cards. In the course of this article, we will be reviewing the 10 best grants for small businesswomen. Without further mouthing, let us delve in.
Grants.gov is a database that consists of federally sponsored grants, including grants for small businesses. Grants.gov is a grant offer that is open for male and female business owners. As a female entrepreneur, you can go to the grants.gov official website, and see if you are eligible. It is the good starting point for businesswomen who are looking for federal grant resources.
2. National Association For The Self-Employed (NASE) Growth Grants
If you are a female NASE member, you can be awarded money for boosting your USA-based business. It is important to note that you have to pay $120 per year for membership. The NASE specializes in offering networking and mentorship resources, business products, and discounts. It is important to note that they offer nearly $1 million to its members since its founding in 2006. In your application, you need to state how the grant will improve your business, and also include a resume and business plan.
3. Amber Grant
Amber grant is a type of grant offer that is available to women only. It was established in a bid to honor a young woman that died before she was able to fulfill her entrepreneurial dreams. The application fee for the Amber grant is $15. With the Amber Grant, a small businesswoman can access up to $10,000. A winner of their contest is also eligible to get $25,000.
4. IdeaCafe Grant
This is an interesting grant that is available for both men and women. As a lady, if you own a business in the USA, or intend to start one, you can get a grant that can ease the financial burden. The application has no fuss to it, as the application procedure comes with no costs. If your application for the grant is a success, you will get a $1,000 micro-grant. IdeaCafe grant made our list because the majority of the winners are women entrepreneurs.
5. Cartier Women’s Initiative Award
This grant is not just limited to female entrepreneurs in the USA. It is an award that is given to 21 female businesswomen each year. It is important to note that in this grant offer, the first prize winner would get $100,000, while the second place and others will get $30,000.
This is a women-only grant offer that is available for small business women across industries. This website offers scholarships and grants for women. To apply, you need to make use of the database to identify good opportunities and then follow the instructions on the site.
7. SoGal Startup Grant
It is a grant available to women powered by SoGal Foundation. The grant is in partnership with Winky Lux, twelveNYC, Twillio, Bluemercury, and other sponsors. The grant offer gives the women recipients mentorship and help in navigating the fundraising process. To be eligible for this grant, you need to self-identify as a black woman or non-binary entrepreneur. You also need to have a legally registered small business.
8. Tory Burch Foundation
This is a Fellows Program from the Tory Burch foundation that gives a fellowship of virtual education and networking opportunities. This foundation has packages for small business women alongside a $5,000 grant. The winners of the grant are also invited to the Tory Burch office for networking opportunities and workshops.
As a small businesswoman, you need to be making at least $75,000 in revenues and be functional in the USA.
9. Open Meadows Foundation
This is women backed project that is targeted to promote gender, racial and economic injustice. If your business is eligible it will be granted a $2,000 as a micro-grant. It is important to note that Open Meadows Foundation grant is eligible to businesses that have made a profit of at least $75,000.
10. DreamBig Awards
This is a grant that is hosted by the US chamber of commerce. The winner of the contest gets a $25,000 cash prize. The categories for the small business grant cash prizes include; Woman-owned business achievement award, emerging business achievement award, LGBTQ-owned business achievement award, and others. To be eligible for this grant, your business needs to have at least 250 employees, and make revenue less than $20 million for the past two years.