What are some business grants for women?
Although the number of female entrepreneurs is on the rise, we still face more challenges than men in income distribution and business ownership. Women are underrepresented in business and continue to earn less than men for the same work across the globe. Moreover, business owners face many obstacles, and gender-related ones make it more difficult for women to reach entrepreneurial success. The good news is there are business grants provided exclusively for women. In this article, we will review some of them.
#GIRLBOSS Foundation Grant
This is one of the most recent initiatives targeting female entrepreneurs who work in creative areas. As such, the Girlboss Foundation awards two grants of $15,000 a year. The winners also get exposure on social media channels and the Girlboss website. To apply, you need to send in samples of your work and present a sound business plan and information on how the grant will help your business.
Cartier Women’s Initiative Awards
Cartier Women chooses 21 applicants and offers them personalized entrepreneurship coaching before the Initiative Awards week. The finalists also get a scholarship to attend the INSEAD Executive Social Entrepreneurship Program and media exposure. Each of the 7 laureates ultimately selected gets a prize of $100,000 and one-on-one mentoring. The other 14 finalists get $30,000 awards.
To apply, your business must be in its early stages and for-profit. Moreover, successful applicants must be women who are fluent in English and holding main leadership positions. You will also need to set aside a few hours a week to take part in the Cartier program from January to April. In addition, there is a one-week workshop to attend at the beginning of May.
AAUW Community Action Grants
The AAUW or American Association of University Women offers female entrepreneurs grants for community-based projects. These continue for one or two years. The focus of this financing is more on education than on the business. However, you can apply as long as your business idea is connected to promoting equality and education for girls and women. This is one of the longest-running financing initiatives for women, launched back in 1972.
To apply, you need to be a citizen or permanent resident of the US. In addition, female achievements in STEM initiatives receive special consideration. Applicants representing non-profit organizations need to be based in the US.
Amber Grants for Women
This is one of the smaller grants on our list, but since every dollar counts towards success, we found it fitting to include. It is a monthly grant in the amount of $500, and a WomensNet panel of judges picks the winners. Candidates can apply through the Amber Grants for Women website. You will need to provide some information about your business and how the money will help you fulfill your objectives.
This grant was launched back in 1998 when a budding entrepreneur called Amber passed away before she could realize her business dreams. Subsequently, it was named after her and helps women reach their goals.
Eileen Fisher Women-Owned Business Grant
You have probably heard of this grant before. The Eileen Fisher Business Grant offers $100,000 in annual grants and has been helping non-profit companies owned by women expand since 1994. However, only companies beyond the startup phase can apply. The program focuses on environmental and social impact.
In order to apply and qualify for funding, your company must be a 501(c)(3) organization recognized by the IRS. You must also present financial statements to prove it has been running for at least one full year. The leadership of your business should reflect a specific target group. More specifically, your company must prove it serves a demographic connected to the grant’s initiatives.
Eileen Fisher is a brand of women’s clothing. It makes a minimum of $10,000 available to up to 10 businesswomen. Businesses that do not have a female executive leader or which promote the views of a religion or political party are not eligible for this grant.
There are many other business grants available to women apart from these. We wish you luck in all your endeavors!