Every entrepreneur needs to raise the capital of his/her business. Many incredibly successful female entrepreneurs remain unnoticed and usually earn less than their male counterparts. Some government agencies and private organizations are offering small business grants to women entrepreneurs. These grants are free financing, opposite to business credit cards and business loans that are to be paid back. Small business grants are competitive and require an effort to win them.
How to Find Small Business Grants for Women?
There are some steps to identify perfect grants for your business:
Research: You can check online about the grants provided by the government on Grants.gov, which are suitable for your business. You can attend conferences and seminars in the industry to learn about the benefits.
Eligibility: One can apply for grants by considering the rules related to the age of your business, education level, demographic and other factors.
Time Limit: You must make time out of your schedule to submit applications for suitable business grants and must keep a regular check.
Top Small Business Grants for Women Entrepreneurs
Grants.gov
However, it is a platform to look for federally sponsored grants which are the government grants for female and male entrepreneurs. It provides a database of the grants provided explicitly for small business owners. If you are searching for such grants, visit the official website to check your eligibility.
● To apply, you need to obtain a DUNS number, a unique nine-digit identification number. You must register through the System Award Management website to do business with the U.S. Government and create an account on Grants.gov.
● The potential benefits provided may vary according to the types of grants and government agencies that participate.
Eileen Fisher Women-Owned Business Grant Program
This is one of the best grant programs for women in business and it provides small business grants for women entrepreneurs who are making positive social and environmental differences. This program was launched by a fashion designer named Eileen Fisher in 2004. Almost ten female entrepreneurs are awarded up to $100,000 in total by the company.
● To apply: Your business must be registered under IRS with a financial statement with one full year of your work. However, your business will not be eligible if you are promoting any political party or have a religious background, do not have a woman as an executive leader, etc. Your business must have completed three years and must not earn profits more than $1 million annually.
● The potential benefit of this program is that it injects up to $10,000 to the small business grants for women entrepreneurs to assist them financially.
Amber Grant
Womensnet.com launched this program in 1998 in honor of a woman named Amber. This program is suitable for female entrepreneurs running small and local businesses. The one-woman entrepreneur is selected for an award of $2,000 each month.
● The female business owners can apply for the program under Amber Grants for Women’s website. Hence, A panel chooses the winners from WomensNet. You are required to tell your story and pay a little amount of $5 as the application fee. Awards for the grant are given monthly; therefore, you can apply for the grant at any time of the year.
● Likewise, the potential benefits of the program injects $2,000 in women-owned businesses every month. If selected, you will be provided with $25,000 at the end of the year.
