Owning a business takes a lot of time, effort, and money. This is often more difficult for small business owners who happen to be women- discrimination may be present and opportunities may not always be equal. Fortunately, women entrepreneurs are now encouraged to open small businesses and are getting plenty of support from various grant-giving organizations. Registration as a Women Business Enterprise is one of the requirements to qualify for any grant offered by the government.
One of the most popular places to look for business grants for minority women and entrepreneurs is www.grants.gov. Federal agencies post their announcements for grant applications over this site, complete with all requirements for qualifications.
The Minority Business Development Agency is from the US Department of Commerce and specifically promotes small, minority-owned businesses. The agency awards up to $300,000 annually which can be renewed after the first project. They help businesses find better opportunities for growth and support these through research and development.
Aside from the federal government grants, private companies and agencies offer business grants for minority women and entrepreneurs. The National Minority Supplier Development Council is a private council that aims to support the growth of minority-owned businesses. Although it is on a membership basis, the council ensures that business owners get the opportunities they need to be matched with a sponsor.
The Girlboss Foundation is focused solely on women entrepreneurs since its inception in 2014. They choose winners twice a year and awards $15,000 worth of project funding and media mileage through the Girlboss platform and community as well as through local press.
The Eileen Fisher Women-Owned Business Grant Program is another agency that is focused solely on women entrepreneurs but whose businesses have a positive impact socially and environmentally. Founded by Eileen Fisher, a fashion designer, back in 2004, this agency now grants a total of $100,000 to 10 women-owned businesses that have moved beyond startup and have been running for at least 3 years.
The Cartier Women’s Initiative Grant is for businesses that are in the startup stages, operating from one to three years. While the business should be generating income, it need not be profitable to be qualified. Finalists win $100,000 and a one-to-one mentorship program as chosen by Cartier. This grant is not limited to the USA, but women from all over the globe can apply and get a chance to win.
The Amber Grant is founded by Womensnet.com to help women achieve their entrepreneurial dreams, because Amber, whose name bears the grant, passed away before she can see her dreams come true. The funding might not be a huge amount, but any amount can go a long way in business. Each month, a winner gets $2,000, and at the end of the year, $25,000 is awarded to one of the monthly winners.
The Open Meadows Foundation supports businesses that directly impact women and girls. The projects should promote gender, racial, and economic justice. The grant awards $2,000 to eligible projects but has limited finances. To qualify, the business must have less than $75,000 in resources.
Each of the above grant-giving bodies has specific application dates and requirements. Some have fees, while some application forms are for free. As with any agencies awarding grants, competition can be tough so it would be a big help to have someone who can walk you through the application process as well as submitting the requirements. New USA Grants has years of experience helping different individuals and businesses in applying for grants. They offer a money-back guarantee if the grant is not awarded to you, so you can be sure that they will be providing quality assistance as you apply for a business grant for minority women. Visit here for more details: https://www.newusagrants.com/minority-hispanic-grants
