Women Entrepreneurs Should Know About These Business Grants
As difficult as it is to startup and succeed in business, women are at a greater disadvantage. Loan market data shows female entrepreneurs are 5% more likely to not be approved for traditional business loans.
This even applies when they look for government-supported Small Business Administration loans. That means women entrepreneurs should know about these business grants.
FedEx Small Business Grant
Through previous grant competitions, FedEx has proven again and again to be gender-neutral in its grant funding. In order to distribute its grant, FedEx has a public voting system that selects the winner of a $75,000 grant. The winning company also receives free exposure via FedEx's extensive media outlets.
The Eileen-Fisher Women-Owned Business Grant
Any female-owned business in need of working capital can apply for The Eileen-Fisher Women-Owned Business Grant. Annually, the grant awards five women up to $120,000. Besides being female-owned, the company has to promote environmental and social change, has to have been in operation no less than three years and not have earned over $1 million in profits.
Girlboss Foundation
As Lantern Credit, an online marketplace, attests, "Whatever your dream, a small business grant for women can help you realize it." Girlboss believes the same. Founded by Sophia Amoruso (of the Nexflix series Girlboss and behind retailer Nasty Girl), the foundation gives grants to women in music, design, fashion or any of the art fields.
Amber Grants
Suitable for female entrepreneurs hoping to build a small, local business, the Amber Grants are given out once a month. That's $10,000, and at the end of the calendar year, one of those entrepreneurs can win an additional $25,000. Applying consists solely of presenting the purpose of your business.
Small Business Innovation Research
The Small Business Innovation Research is a foundation supporting cutting-edge thinking with a $150,000 grant. It can be used to research and develop marketplace needs. If your goals prove to be tenable, you might receive additional funding of up to $1 million over a two year period.
Ms. Foundation for Women
The Ms. Foundation has several funding opportunities for the businesswoman furthering the societal advancement of females. Goals such as advocating for reproductive health, preventing domestic violence or promoting affordable childcare makes a company eligible. The Ms. Foundation also offers mentorships, networking and training.
37 Angels
Many hopeful entrepreneurs who happen to be female can be disillusioned by the obstacles the business world puts in their way. The organization 37 Angles consists of female investors ready to help women-run small businesses. They help grantees stay afloat with grants of up to $150,000.
If you want to research more funding opportunities, check out GrantsforWomen.org. It's a database chronicling grants designed specifically for women. The site covers a range of available grants and not all are for business owners. You can also do a little digging around and you're bound to find more grants for women to start a business.
In an ever-evolving economy, getting fresh capital with almost no strings attached will help you survive during the roughest business quarters.
