Women may make up 51 percent of the US population, but female business owners still have a hard time getting funds to start or expand their businesses. However, there are grants that are awarded solely to women starting small businesses. Grants, unlike business loans, do not need to be repaid. Each organization that awards grants typically has a committee that develops the requirements women owned businesses must meet to qualify for a grant.
Women's Financial Fund
Women’s Financial Fund awards grants to women who are starting a business, as well as women that are already in business. The new business grants are available to various types of new businesses, including service oriented businesses and network marketing companies. The amount of the new business grants range from $100 to $5000 per recipient.
A woman that applies for this grant must be a United States resident, over the age of 18 and must pay an application fee of $15 to Women’s Financial Fund in order to be eligible to receive a business grant. This grant is not based on the income of the applicant.
The Amber Grant
Women starting their own small business can apply for the Amber Grant. This grant was established to help women pursue their entrepreneurial dreams in business. The Amber Grant was established by Melody Wigdahl, in the memory of her sister Amber Wigdahl, who passed away in at the age of 19 in 1981. Amber was unable to achieve her dreams, so the grant is available to help those women in business that still have that chance. The intent of the Amber Grant is to help women in business upgrade their office equipment, pay to maintain the business website or other small business needs. The Amber Grant is a financial award ranging from $500 to $1,000. All types of women owned small businesses are encouraged to apply, including home based and online businesses.
Corporate Business Grants
Women starting businesses are eligible to receive corporate business grants awarded by corporations who want to give back to the community in which they serve. Companies appoint committees or organizations to review applications and determine which women owned small business should receive the corporate business grants. Some of the companies that award corporate grants to women in business include Verizon, Toyota, Kelloggs, General Electric, Microsoft and more.