Securing funding is often one of the biggest challenges for entrepreneurs, especially for women who face unique obstacles in the business world.
Fortunately, there are numerous grants available specifically designed to support women in business. These grants can provide vital resources to help launch new ventures, expand existing businesses, or fund innovative projects.
What is a grant?
“Grants are non-repayable funds or products that a grant funder awards to an applicant of their choice. A grant seeker may be a nonprofit, a business, or sometimes an individual.”1
Unlike loans, grants do not need to be repaid. Businesses or individuals apply for grants by submitting a proposal that explains their project and how the funds will be used. If approved, the grant provides financial support to help the recipient achieve their goals.
Types of small business grants
There are different types of small business grants, each designed for a specific purpose. For example, government grants may focus on specific industries like tech or agriculture, while private and corporate grants may be geared toward women entrepreneurs, minority-owned businesses, or innovative startups.
Each type of grant has its own award amount, application process, eligibility criteria, and specific requirements for how the funds can be used. Small business owners should thoroughly research and ensure that any grant they apply for is a good match for their specific needs and business goals.
Small business grants for women
There are many grants available for small business owners, but finding the right ones can be overwhelming. To help you get started, we’ve curated a list of some grant opportunities specifically for women entrepreneurs.
These options can give you a strong foundation as you explore funding for your business!
1. Amber Grant
WomensNet awards three Amber Grants valued at $10,000 each month to women-owned businesses. One grant is designed for a startup, the second is for general small businesses, and the last is industry-specific, with the industry rotating monthly. October’s grant is for Creative Arts, and November’s is for STEM. Each monthly grant winner is then eligible to receive one of three larger annual grants of $25,000 each.
2. BMO Celebrating Women Grant
Presented as a collaboration between BMO Bank and Deloitte, the BMO Celebrating Women Grant Program is open to small businesses that are at least 51% women-owned and are located in one of 24 states. Fifteen female entrepreneurs receive $10,000 grants.
3. HerRise Microgrant
The Yva Jourdan Foundation is the nonprofit arm of HerSuiteSpot, an organization that supports women of color entrepreneurs with business coaching and training. HerRise Microgrants are awarded monthly through the foundation. Each grant is valued at $1,000 and is awarded monthly. Eligible businesses must be at least 51% woman-of-color owned with a minimum of $1 million in gross revenue.
4. Galaxy Grant
Hidden Star, a nonprofit organization, presents the Galaxy Grant valued at $2,750. The grant is open to women and minority small business owners.
5. Giving Joy Grants
Giving Joy awards microgrants between $250 and $500 to be used by business women to launch a business or nonprofit, or expand an existing charity or business. There are two application windows: Jan. 1 – April 30 and June 1 – Sept. 30, 2024
6. EmpowHER Grants
Female small business owners who are at least 22-years-old and launched their business within the past three years are eligible for an EmpowHER grant from Boundless Futures Foundation. The grant funds are awarded as reimbursement for business-related expenses up to $25,000. Applications are accepted quarterly.
7. Her Village Grant
Nonprofits that support women entrepreneurs are encouraged to apply for the Her Village Grant by the Boundless Futures Foundation. Grant awards range from $5,000 to $30,000
8. High Five Grant for Moms
Calling all moms! Open to women caregivers with children of all ages, first-time expecting moms, stepmoms and foster moms. The Mama Ladder organization has an annual small-business grant specifically for the moms. The High Five Grant offers a tiered approach to the winners: the winning business receives a $10,000 grant, the runner-up receives a $5,000 grant and the third-place finalist gets $2,500. Five additional businesses receive $1,000 honorable mention grants.
9. Brown Girl Jane x SheaMoisture Grant
SheaMoisture and Brown Girl Jane offer grants between $10,000 and $25,000. Eligible businesses will be Black and women-owned beauty or wellness businesses.
10. Women of Color Grant Program
The Women of Color Grant Program is organized by the Fearless Foundation and the Tory Burch Foundation. Each year, the program awards $10,000 and $20,000 grants to 75 businesses owned by women of color.
11. Tory Burch Foundation Fellowship
The Tory Burch Foundation offers an annual year-long fellowship program for 50 women business owners. The fellowship provides networking opportunities and educational resources, access to 0%-interest Kiva loans and a $5,000 business education grant to each participant.
12. Enthuse Foundation Pitch Competition
Female entrepreneurs pitch their businesses at an in-person event when applying for the Enthuse Foundation’s Annual Pitch Competition. The top winner receives a $15,000 grant and the runner-up gets $10,000 cash.
13. Fund Her Future
Women business owners nationwide who operate a business that’s at least 51% women-owned are eligible to apply for Fund Her Future, a grant program from Block Advisors by H&R Block. The top winner receives a $50,000 grant, while four additional small businesses get $12,500 each. Winners also receive free small business services, including bookkeeping, payroll and tax support for a full year.
14. She’s Connected by AT&T
She’s Connected by AT&T is open to women-owned small businesses that have fewer than 51 employees. The grand prize winner receives a $50,000 grant and a year of free AT&T service alongside a new device. Four runner-up businesses will receive $5,000 microgrants. Applications for this year’s cycle closed in July 2024.
The bottom line
Grants can help provide women a chance to start or grow their businesses by giving them access to funds that don’t need to be paid back. This funding can help cover important costs like equipment, marketing, or training, making it easier for women to turn their ideas into reality or take their businesses to the next level.