Small Business Grants For Women

Globally, 6.2% of women entrepreneurs own established businesses. That equals two-thirds the rate of men. Thus, women entrepreneurs often fall under the category of "necessity" entrepreneurs. 

Unlike their gender counterparts, business ownership rarely stems from satisfying entrepreneurial dreams. Instead, a young woman will form a startup when she cannot find quality work or needs employment. 

For many female entrepreneurs, forming a startup is the only viable solution. Their decision is often to fend off unemployment. Thus, if an income does not come to them, they become women business owners.

No matter the gender, raising capital or investors are challenges every executive faces. Fortunately, women-owned small businesses have access to free grants.

Small business grants are unlike small business loans. Entrepreneurs will not have to pay back the grant money. 

Grants are funds that local, state, or federal governments provide. Although, not all are government grants. Some grants and awards come from private corporations or foundations. Each helps small business owners launch and expand their businesses. 

Several grants are available to women-owned businesses, giving them less of a struggle. To be eligible, the company must meet the grant's criteria and requirements. Since not all awards are equal, female entrepreneurs first need to find the right one.

Related: Additional Small Business Grants

1. Amber Grant for Women

2. Cartier Women's Initiative Awards

3. Eileen Fisher Women-Owned Business Grant

With many grants available to women, they must apply for one that aligns with business goals. In doing so, the entrepreneur increases her chances of becoming the grant recipient. To help choose the grant that will be most helpful, here is a breakdown of the top small business grants for women.

Grant Amount(s): $10,000 to $35,000

Application Fee: $15 

The Amber Grant Foundation was set up in 1998 by WomensNet to honor the memory of Amber Wigdahl. At only 19-years-old, the aspiring entrepreneur died before carrying out her business dreams. This grant helps other women fulfill their business ambitions, making dreams come true.

The Amber Grant provides the recipient with a monthly $10,000 grant. The grant also offers other, smaller grants and a sizable grant. One of the 12-monthly recipients will receive extra grant money of $25,000 at the end of the year in December.

How to Apply:

Women can apply at the "Amber Grants for Women" website. The chosen winners come from the judging panel at WomensNet.

Applicants must meet the following criteria/eligibility requirements:

• Be a woman-owned business.
• Be in the United States or Canada.
• Submit a $15 application fee.
• Can tell the foundation about themselves and their small business dream.

Advantages of the Amber Grants for Women:

• It has a simple application process.
• No business type, industry, or operation rules to win this grant.
• Little paperwork to deal with when applying.
• The monthly winners can request loyal customers to vote for their business. The winner receives an extra $25,000 in annual money.

Disadvantages of the Amber Grants for Women:

• It is a popular women-owned business grant, making the application process highly competitive.
• Applicants must pay a fee to compete for this grant.

Grant Amount(s): $30,000 to $100,000

Application Fee: $0.00

The Cartier Women's Initiative Award encourages change for women. It helps empower women-owned businesses and their future. The award started in 2006 and is only for women entrepreneurs from across the globe. 

After reviewing applicants, the 21 finalists receive personalized business coaching before awards week. Each winner also gets media exposure and a scholarship to the INSEAD Social Entrepreneurship Executive Program.

From the pool of 21 finalists, only seven will get $100,000 each, along with one-on-one mentoring. The remaining 14 recipients will receive $30,000. 

How to Apply:

Visit the Cartier Women's Initiative Awards to apply for this grant. 

Applicants must meet the following criteria/eligibility requirements:

• Be a for-profit business and in its early stage of setup. (First one to five years of operation).
• Be a woman-run and women-operated business.
• Have women in a leadership position with a command of the English language.
• Meet at least one of the seventeen United Nations Sustainable Development Goals (SDGs).
• Be willing to dedicate 4 hours per week (virtually) for the duration of the fellowship program.
• Can commit to attending 1-week of in-person preparatory training.

Advantages of the Cartier Women's Initiative Awards:

• Perfect for newer women-owned businesses from all over the world.
• The women-owned business does not have to fit into a specific industry like many other grants.
• No application fee
• Award winners receive more than funding. (i.e., mentorship, etc.).
• It also offers another grant, the Science and Technology grant.

Disadvantages of the Cartier Women's Initiative Award:

• A popular and competitive grant.
• It has a time-consuming application process, requiring various materials for eligibility.
• Must commit to at least 5-hours of educational training.
• The award caps raised dilution funding to $2 million. This cap ensures businesses fall within a similar range of development.

Grant Amount(s): $10,000 to $40,000

Application Fee: $0.00

Over 30-years ago, the fashion designer, Eileen Fisher, started her company. Ms. Fisher's fashion empire produces upscale clothing for women made of sustainable materials.

The company has over sixty stores in the US, Canada, and the UK. Its clothing line is at major department stores and eileenfisher.com.

The founder, Eileen Fisher, is passionate about environmental-friendliness. Ms. Fisher supports the efforts to advance women in business around the world. Eileen Fisher recognizes and rewards other women-owned businesses. 

The chosen winners are women who share a similar mission as Eileen Fisher. Award winners are women-owned businesses that provide helpful services to their communities. Whether for economic justice or to make a positive social or environmental impact.

How to Apply:

A Social Consciousness team and internal employee committee conduct the annual selection process. To learn more, visit eileenfisher.com/environmental-justice-grant.

Applicants must meet the following criteria/eligibility requirements:

• Provide a direct service or resources.
• Be a 501(c)(3) certified nonprofit or a business with a fiscal sponsor.
• Can prove their company has a positive social or environmental impact. 

Examples:

• Train women or girls in climate advocacy, mitigation, and adaptation.
• Enhance the decision-making and participation of women or girls.
• Help women thrive in a sustainable organization or trade.

Advantages of the Eileen Fisher Women-Owned Business Grant:

• Rewards women-owned businesses that focus on providing opportunities and services for other women.
• No application fee
• Allows many contest winners, giving more women a chance to receive grant money.
• Women-owned businesses can apply each year for this grant. (Note: Exact dates are tentative and will vary each year.)

Disadvantages of the Eileen Fisher Women-Owned Business Grant:

• Women-owned business applicants must get 501(c)(3) status or a fiscal sponsor.
• Businesses that identify with a specific political party or religion are not eligible.

Small business grants for women offer free money to women, giving them the very support they need.