If you need outside financing because you are starting a business, you always need to be aware of the numerous small business loans out there. As a wise person, you don’t need to be on loan when you can secure a grant to succeed your business. However, you need to know that grants for both genders can be hard to secure. It is not there for anyone to take off. If you are seeking business financing, you need small business loans and business credit cards for women. For the small business grants, the competition is fierce. Moreover, it consumes a lot of effort and time to complete these transactions. However, the payoff can be worth if you are up for the challenge.
Let us look at the following 10 places women entrepreneurs and business ladies can secure business grants.
Small Business Federal Grants for Women
For the small-business workers, you need to be aware of the grants offered by the federal government. They are used for certain development, and research project or any business propelled in the rural areas. Remember that these grants are not there to cover all your startup cost or daily expenses. Moreover, all of them are up for grabs from the opposite gender as well.
Grants.gov is one of the largest databases of all grants that can be offered by the government. In this location or website, you can search for the federally-sponsored grants. When you are logged in to the page, ensure you filter the information on the left side of the page to get what you need on the image processed by the site.
- InnovateHER Challenge
The United States Small-Business Association hosts a wide range of competitions in business. The organization, moreover, hosts one of the largest annual business competitions with a remarkable product and service that will affect the lives of many women positively. To participate in some of these challenges, you must first enter a local challenge to win the prospective grants. In this capability, you will advance to the national level of business for the semi-final round. The top three finalists in the national level will win $10,000, $20,000, and $40,000 respectively.
- Small Business Technology Transfer and Small Business Innovation Research Programs
Both of these two competitive programs are SBA facilities based in the United States. They also work towards the provision of grants for small businesses that are working towards bringing a great contribution to the federal development and research. More than 11 federal agencies and departments including the Defense, Agricultural, Human Services, health, and other services offer grant opportunities. You need to log into their websites to apply for these grants. You can also search their grant opportunities at the SBIR website.
Local and State Small-business Grants
Because the small business grants from the federal government are limited are competitive and limited in many ways, you need to secure a chance to look for grants at the municipal and state levels. To get a pinpoint of some of these grants, you need to carry out your independent research. However, here are some of the places you can secure these opportunities.
- Women’s Business centers
The United States SBA program sponsors more than 100 business centers belonging to women countrywide. This program is also designed to offer help to the women entrepreneurs with access to capital and business development. Some of the most prominent companies in this industry, including the California Capital Management Company, issue capital to directly to women. Other corporations also assist women in securing grants from other sources in the correct way.
Many states and cities in the United States have economic activities and economic development agencies that aim at the promotion of the local economy of the city or state. While the agencies might not offer the same small business grants for women, they might help you secure the best chances of getting steering your choice to a certain fruitful direction.
- Small Business Development Centers
There are more than 100 SBA-sponsored centered located in all parts of the country. In most cases, these facilities are housed in universities and colleges. The SDBC offers a one-on-one, free business consultation session to any potential entrepreneur and business protective owner seeking grants or any business information at their locations nationwide. You need to schedule a consultation session with your local SDBC advisor. The advisor will also inform you about the grants as well as business financing options left for you to exploit in your locality.
Private small business grants for women
Some private businesses and organizations have developed a national grant program for women entrepreneurs and small business owners nationally. Let us look at some of them below.
- Amber Grant
The Amber Grant Foundation is one of the largest private organization that offers grants to women entrepreneurs and prospective small business owners with good business ideas. The award issues more than $500 to different businesses owned by women every month. At the end of the year, the organization issues a $2,000 grant for their winners every year. Their application process is not as difficult as the federal counterparts that can offer a larger amount for the same business. All you need to do is to offer an explanation of your business and describe the nature of the business you are venturing. You also need to pay a $7 application fee for consideration. The winners are chosen by the organization’s advisory board. They also look for the women with a good story and passion.
The Eileen Fisher, a women retailer in the clothing and fashion industry, issues more than $100,000 as grant awards to more than 10 women business owners in the industry annually. To qualify for this grant application process, women must prove to own more than 51 percent of the total investment in their various small businesses. You also need to prove that you have a valid business that has operated for more than three years. You also need to prove that your business secures more than $1 million in revenue every month. Moreover, you also need to prove that your business is focused on social or environmental challenge.
Two other Good Grant Possibilities to Try
These options are not meant for only the women. However, they are some of the best possibilities for small grants as consideration.
- FedEx Small Business Grant
You can receive more than $25,000 in total value when applying for the FedEx grant. This grant offers the same amount of money to more than 10 businesses every year that offer explicit work in the business world. You don’t need to show them how you will use the money as it is an optional value. All you need to show them is a short video that gives a quick recap of your business nature in the industry. To apply for this loan, you don’t need a FedEx account.
You can also secure a $150,000 grant offered by Chase Bank to more than 20 businesses that have applied and satisfied the Mission Main Street Grants Board of Councilors for eligibility. To be eligible for this grant by Chase Bank, you must prove to the members that you have been in the same business for a minimum of two years and had less than 100 employees. You also need to answer a few questions to be eligible for the loan.