Starting a business as a woman can be a daunting task, especially when it comes to securing funding. However, there are many grants available specifically for female entrepreneurs that can help you get your business off the ground. Here are some of the top business grants available for women.
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Funding Women-Owned Businesses
According to a recent study by the National Association of Women Business Owners and American Express, women own 42% of businesses in the U.S. And more than 1,800 new businesses are being started every day. However, women-owned businesses are growing at only half the rate of those run by men, and even less so by minority-women owned businesses. This disparity in growth rates can be attributed to several factors. But, one main reason is that women struggle to access capital and other resources needed to help them succeed.
On average, women who do manage to secure a business loan tend to receive smaller sums than their male counterparts. Female owners also struggle to obtain credit — a necessary part of being a competitive business in any market. Some researchers believe that women may be more reluctant to take financial risks than men, and others think that women simply apply for fewer loans.
Fortunately, several lenders, corporations and organizations have acknowledged this disadvantage for female entrepreneurs and have developed grant funding specifically for female-owned entities. Here is a list of several small business grants and funding opportunities for women:
1. WomensNet Grants
WomensNet funds several women business grants throughout the year, including their monthly Amber Grant, as well as quarterly grants for non-profits, marketing grants, and more. NOTE: There is a standard $15 application fee to apply for any WomensNet Grant.
More Info: ambergrantsforwomen.com/all-grants
In addition to being a funding marketplace for women-owned businesses, iFundWomen also offers various grants available throughout the year. They offer immediate access to capital through a premium crowd-sourced fundraising experience, access to small business grants from corporate partners, expert business coaching on all the topics entrepreneurs need to know about, as well as a network of women business owners that sparks confidence, accelerates knowledge and ignites action.
More Info: ifundwomen.com/grants/apply-for-grants
3. NASE Growth Grants
The National Association for the Self-Employed (NASE) Growth Grants are a great option for women entrepreneurs who are looking to expand their businesses. The grant is meant to help cover the costs of marketing, advertising, and other business expenses. To be eligible, you must be a member of NASE and have been in business for at least six months.
Deadline: Rolling (Applications are reviewed each quarter)
More Info: nase.org/become-a-member/member-benefits/business-resources/growth-grants
Since 2000, GrantsforWomen.org has been a resourceful online tool for women all around the globe who are looking for grants and scholarships. Their mission is to empower, educate, and enable women to accomplish their goals in the easiest and fastest way possible. This website houses a list of grants, scholarships and funding opportunities as they become available.
More Info: grantsforwomen.org/p/grants-scholarships-for-women.html
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