Small Business Grants: A Powerful Funding Option for Women

Small business grants are a highly sought-after source of funding for women entrepreneurs. These grants provide a unique advantage over loans, as they don’t need to be repaid. This makes them a valuable tool for startups and existing businesses looking to expand their operations. The lack of repayment obligation removes a significant financial burden, allowing entrepreneurs to focus on building and growing their businesses.

Navigating the World of Small Business Grants

Women seeking funding have a variety of options to consider, including:

• Grants
• Loans
• Angel investors
• Venture capital firms
• Business partners who invest capital

While loans, investors, and business partners can provide capital, they often come with strings attached, like repayment obligations or relinquishing ownership equity. Small business grants, however, offer a path to funding without these constraints.

Key Advantages of Small Business Grants for Women

Small business grants hold several key advantages for women entrepreneurs:

• No Repayment Required: This allows women to invest the funds directly into their businesses without diverting resources towards debt repayment.
• Boosting Access to Capital: Grants help address the historical barriers women face in accessing business funding.
• Flexibility and Focus: Grants provide greater financial flexibility, enabling women to direct funds towards specific needs and priorities.
• Reduced Financial Risk: Grants minimize the financial risk associated with starting or expanding a business, allowing women to pursue their entrepreneurial dreams with greater confidence.

Finding and Applying for Small Business Grants

Several organizations and programs are dedicated to providing small business grants for women:

Featured Grant Programs:

The Accelerate(HER) Fund

This grant program, sponsored by Tiger Global Impact Ventures with Hello Alice and the Global Entrepreneurship Network, offers grants of up to $50,000 to support women entrepreneurs building breakthrough technologies or tech-enabled companies. The fund focuses on supporting women in the tech sector.

2023 WomensNet’s Grants

WomensNet offers various programs for women business owners throughout the year, totaling $450,000 in grants. The program includes:

• Monthly Amber Grant: $10,000 winner each month
• The Startup Grant: $10,000 winner every quarter
• $25,000 Annual Amber Grant: Two winners per year
• The Non-Profit Grant: $10,000 winner each quarter

Atomic Grants

Passion Collective awards $1,500 grants to women small business owners and entrepreneurs each quarter, providing valuable funding and one-on-one coaching.

Cartier Women’s Initiative Awards

This annual international program empowers women impact entrepreneurs to drive social and/or environmental change. Open to women-run and women-owned businesses from any country and sector, the program awards grants ranging from $30,000 to $100,000 for third to first place across categories like Regional, Science & Technology, and Diversity.

Enthuse Foundation Pitch Competition

Women entrepreneurs in the food, beverage, and consumer packaged goods industries can compete in this competition for a grand prize of $10,000 cash plus 20 hours of in-kind business services from Enthuse Marketing. Five finalists pitch their businesses live in New York City in front of industry experts.

Fearless Strivers Grant Contest

This program, sponsored by Mastercard, awards four $20,000 grants each year to Black women-owned businesses. In addition to funding, winners receive digital tools for online business growth and mentorship.

High Five Grant for Moms

This competition selects eight finalists in the fall, with the top three determined by public vote, pitches to sponsors, and a judging panel. The grand prize is $10,000, followed by $5,000 for the first runner-up, $2,500 for the second runner-up, and five honorable mentions of $1,000 each.

IFundWomen Universal Grant Application Database

This program offers women entrepreneurs access to a database of grant opportunities and provides guidance on utilizing crowdfunding to raise funds for their businesses.

The Kitty Fund Mother-Led Business Grant

This grant awards a total of $25,000 to 25 Mom-Preneurs, supporting women entrepreneurs who are also mothers.

Launch Program by Ladies Who Launch

This program offers women and non-binary small business owners a $10,000 grant, mentorship from industry experts, and six months of free education to support their entrepreneurial journeys.

Publish Her Business Impact Grant for Women of Color Business Owners

In partnership with BankCherokee, Publish Her awards a $5,000 grant to each woman of color who owns 100% of their business and is making a positive impact on people's lives. Applications are accepted from June to August, with 10 qualifiers chosen for a public vote in September to determine the winner.

She’s Connected by AT&T

This grant provides $20,000 plus a year of free AT&T service with a new device. Applications are typically accepted until the end of August.

Women Founders Network Fast Pitch Competition

The top 10 finalists in this competition pitch their businesses live, vying for $55,000 in cash grants and $100,000 in professional services.

Women of Color Grant Program

This program, in partnership with the Fearless Fund, awards 75 women of color-owned businesses grants of $10,000 and $20,000, along with access to education and a supportive community.

You Glow Girl Women Entrepreneur Grant

This grant awards a $10,000 cash prize, a one-year supply of Eat Me Guilt Free products, a physical health and wellness prize, and an intensive mentorship program.

Additional Grant Resources

For a more comprehensive list of grant opportunities for women, visit Grantsforwomen.org. Their directory features a wide range of organizations offering various grant programs.

Conclusion

Small business grants for women are a valuable tool for securing funding and achieving entrepreneurial goals. These grants offer a unique opportunity to access capital without the burden of repayment, allowing women to focus on building and growing their businesses.

By exploring the various grant opportunities available, women entrepreneurs can position themselves for success and contribute to the growing landscape of women-owned businesses.