Grants for Women Owning Businesses
- A grant is funding that is available to a person, student or business to fund a project, event, facility or business. The individuals who supply grants vary, and the process for qualifying for a grant depends on that individual or organization. If the money is used for the intended purpose of the organization or individual that supplied the grant, the money does not typically have to be paid back. To qualify for a grant, an individual must meet criteria requirements and show need.
- Women's-Finance.com is a non-profit organization that provides funding and grants to women who want to begin a business or grow a business they already have begun. The organization has a grant specifically for new businesses, and the amount ranges from $100 to $5,000. The organization does not have a preference on the type of business the women must have and encourages all female business owners to apply. This also includes business such as marketing companies and service-oriented businesses.
- There are government grants available for women entrepreneurs. The grants can range from $100 to hundreds of thousand of dollars. Obtaining a government grant requires lots of research and a solid business proposal. The government grants may be applied for in the state, city or township where the woman lives and must be used for that same demographic.
- The Small Business Administration (SBA) has grants available for women. The SBA requires women seeking grants to furnish accurate business plans. SBA lenders approve the business plans and distribute the grants to those business owners who show a need, have flourishing business proposals and meet other SBA guidelines. The SBA is doing more to level the playing field for women because the SBA feels women have more obstacles to overcome when starting and maintaining a business.
- A private grant called the Amber Grant was established in 1998 for women. The grant keeps alive the memory of Amber Wigdahl, who was killed in 1981 when she was only 19 years of age. The grant carries the purpose of providing a female entrepreneur the opportunity to fulfill the dream of owning and operating a business, something Wigdahl was not fortunate enough to do.