Business grants for women: where to find them and how to apply

For a business to be successful, it’s critical to be able to raise capital. However, it can sometimes be challenging as a woman business owner to qualify for a loan at a comparable rate to your male counterparts. The good news is that there are specific business grants available for women that can help you grow your business.[1] While these grants can be quite competitive, they can also help you get your own slice of the pie and access the funding you need. 

So are you up for the challenge? 

Read on for a breakdown of the types of grants and financial resources provided as well as eligibility requirements.

What are grants for women?

With more women becoming entrepreneurs, there’s an increasing need for funding.[1]

Business grants for women provide the necessary financial assistance that help women start or expand their business or nonprofit organization and compete in the market. These grants can help create more opportunities for women, allowing them to overcome challenges rooted in historical inequalities. Because even though women make up 51% of the population, they are often considered a minority and frequently face gender discrimination.

Here’s a snapshot of several organizations that provide funding year-round to help give women a much-needed boost for their business. 

10 grants for female business owners

Amber Grant

In 1998, WomensNet founded the Amber Grant to honor Amber Wigdahl, a 19-year-old young woman who passed away before turning her business dreams into reality. 

Now every month, WomensNet awards $30,000 in Amber Grants to women-owned businesses. To help recognize the diversity of businesses, they also expand grant-giving to startups as well as companies in underrepresented categories (e.g., sustainability, food and beverage, health and fitness, skilled trades). 

Plus, the application is simple to complete and makes individuals instantly eligible for all grants related to their business.[2]

EmpowHER Grant

The Boundless Future Foundation offers this grant to female entrepreneurs who are at least 22 years old and operate a business focused on a social issue. To be eligible, businesses must have been established within the last three years. Applicants can also request up to $25,000 in business support. If selected, grant recipients receive funding remitted as reimbursement for business-related expenses.[3]

IFundWomen Grant

IFundWomen is a funding marketplace available for those with women-owned businesses. It offers support through expert coaching, networking and access to capital. During the application process, they match the partner’s grant criteria with applications within the database.1

Giving Joy Gran

Women 18 or older can apply for Giving Joy Grants, which award recipients microgrants between $250 and $500. Winners have the option to put the money toward their business launch, charity organization or nonprofit.[1]

Women of Color Grant

Available for for-profit businesses owned by women of color, this grant is offered by the Tory Burch Foundation and the Fearless Foundation. Grantees can earn grants of $10,000 to $20,000 to put toward their business growth.[4]

StartHER Gran

The StartHER Grant is offered by Texas Woman’s University Center for Women Entrepreneurs, and it awards Texas-based business owners $5,000. Their goal is to help current and aspiring women business owners expand and take on new, innovative projects.[5]

She’s Connected Grant

Women-owned businesses with fewer than 51 employees are eligible for the She’s Connected Grant by AT&T. Winners receive $50,000 in funding along with a new mobile device and a year of free AT&T service. Meanwhile, the 4 runner-up businesses are awarded with $5,000 in microgrants.[1]

Papaya Grant

Sponsored by Papaya Reusables, a sustainable paper towel company, the Papaya Grant awards one female entrepreneur $10,000. It’s open to U.S.-based, women-owned small businesses.[6]

Small Business, Big Dreams Grant

Presented by BankUnited, the contest is open to women business owners located in Florida and New York. Only for-profit businesses with 20 or fewer full-time employees and less than $3 million in revenue are eligible. Grant winners can earn $15,000, second-place recipients receive $5,000, and third place takes home $2,500.[1]

Her Village Grant

As an additional program offered by the Boundless Future Foundation, the Her Village Grant is available for nonprofit organizations that support female entrepreneurs. If selected, applicants are rewarded $5,000 to $30,000 in funding.[1]

How to apply for a grant

Confirm eligibility

Be sure to check eligibility requirements before you begin the application process because this could help save you time in the long run. Eligibility could depend on revenue, business size, the gender of the owners and the types of company activities.[7]

Gather documentation

Organizing your documentation prior to applying could help ease and streamline the process. Make sure you have all required information on hand including your:

• Bank statements
• Tax returns
• Business plan
• Business revenue history
• Employer identification number (EIN)
• Data universal numbering system (DUNS) number
• Organizational chart

Check application processes and deadlines

Applying early could be beneficial. Most grant programs have a limited pool of money to disperse and will stop considering applicants once they reach their capacity for the year. Check deadlines ahead of time and always keep these top of mind when deciding on where you’d like to apply. 

Grant application tips

Business grants are an attractive source of funding for small businesses, so they can be very competitive. However, by following some simple tips, you can help make your application stand out.[7] 

Explain how you’ll use the grant.

In this instance, the more details you provide, the better. Clearly and thoroughly share how you plan to use the grant to help grow your business. This should be laid out in your business plan. 

Read the grant objectives.

By stating the grant objectives in your application, you can help get noticed. It will show that you understand what’s involved and you put in the time to research. 

Check any funding match requirements.

In some cases, you’ll be obligated to match the sponsor’s funds. So as a smart first step, confirm that you have the means to do so before you apply. 

Spend time developing your business plan.

Here, quality is key. Make sure your plan is well-written, polished and detailed. You should also know it front to back so you’re able to answer any follow-up questions. 

Funding alternatives to small-business grants

Small business grants may not be your best option. Applying can be a difficult process, and you may not qualify initially. Or, you may just want to explore other avenues to fund your business. 

Here are some alternative routes you could take instead: 

Crowdfunding for business: Help open new doors by promoting your business idea online and asking people to invest. Use channels such as social media or crowdfunding websites. This is especially helpful for product launches. Learn more ways you can help draw in investors. 

Microfinancing: This is a smaller version of a traditional bank loan. Plus, microloans typically get processed and approved faster. 

Venture Capital and Angel Investment

These companies or individual lenders are exclusive to startups and small businesses. Getting funding requires a growth or exit plan. Fortunately though, interest rates are typically pretty low.[8]

Once you have selected a grant that seems suitable for your business, take the time to read the eligibility requirements and rules before applying. Be thorough and make sure to keep your end goal in mind throughout the process. This is your opportunity to help get your business off the ground. 

For additional business tips and resources, visit the Nationwide Business Solutions Center.