As women entrepreneurs, securing funding for your small business can be challenging, especially if you belong to a minority group. Thankfully, there are various grants designed to provide financial support to female entrepreneurs. In this article, we will discuss the top five small business minority grants for women entrepreneurs.
1. National Association for the Self-Employed (NASE) Growth Grants
The NASE Growth Grants program provides funding of up to $4,000 to female entrepreneurs looking to expand their business. This grant is open to NASE members who have been in business for at least six months and can demonstrate the impact the grant will have on their business growth.
2. Amber Grant
The Amber Grant, launched in 1998, awards a monthly $4,000 grant to a female entrepreneur. At the end of each year, one of the monthly grant winners receives an additional $25,000. The grant looks to support promising businesses started by a woman and is open to both new and existing businesses.
3. Eileen Fisher Women-Owned Business Grant
The Eileen Fisher Women-Owned Business Grant program awards grants to up to ten women-owned businesses that are beyond the start-up phase. Every year, five businesses receive $10,000, while the other five receive $5,000. This grant is open to businesses with less than $1 million in annual revenue and is awarded based on the applicant’s commitment to environmental and social change.
4. InnovateHER Challenge
The InnovateHER Challenge is an annual business competition hosted by the US Small Business Administration (SBA) that awards a total of $70,000 in prize money to female entrepreneurs with innovative products or services that make a measurable impact on women and families’ lives. The local round winners receive $10,000, while the national winner receives $40,000.
5. Grants.gov
Grants.gov is a government-funded website that allows you to search and apply for federal grants for small businesses. The website lists various grant opportunities from different government departments, including the Department of Commerce, the Department of Energy, and the Department of Agriculture. Female entrepreneurs can use the website to find available grant programs that they can apply for.
In conclusion, these five grant programs are just a few of the numerous grants available for female entrepreneurs. When seeking grants, it is essential to research and understand each program’s eligibility requirements, application procedures, and funding objectives. By applying for these grants, female entrepreneurs can access the financial support they need to take their businesses to new heights.
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