In a world where women receive a mere 10% of venture capital, grants are a critical source of business funding for female founders and entrepreneurs.
Grants can be even better than traditional bank loans or credit cards. They’re practically free money that you don’t need to pay back.
But with the benefit of grants for small businesses comes the expected competition for them. Even before COVID-19, competition for small companies was fierce. However, if you keep track of all the funding opportunities available, do your research, and understand your business inside and out, you’ll have a higher chance of securing funding.
We’ve taken the time to identify the 16 best small business grants for women. If you’re seeking funding, follow this guide to make the most of your applications. We’ve also included several extensive databases that provide additional resources and grant options.
Since Covid-19, the small business funding landscape has changed dramatically. That’s why it’s critical to educate yourself on the available options. This section covers grants with recurring monthly due dates, approaching due dates, and grant opportunities with no due dates.
The Amber Grant provides 12 opportunities a year for women entrepreneurs to fund their dreams. The foundation was started in 1998 to honour Amber’s legacy, who passed at the age of 19 without realizing her dream of becoming an entrepreneur. Every month, a different project is selected for a $2,000 grant. Each of these businesses is also eligible to receive the $25,000 annual grant. The application fee is a reasonable $15, and women can easily apply online each month.
Eligibility:
Deadline:
At the end of every month.
The National Association for the Self-Employed (NASE) is a nonprofit trade organization dedicated to helping small businesses. All grant applicants must be a NASE member. There are currently five memberships you can choose from that include unique resources, discounts on business tools and software, and access to experts. Starting at just $11.95, you can access the monthly $4,000 growth grant to support your business’s growth needs.
Eligibility:
Deadline: Rolling applications.
After experiencing challenges in growing her business and securing funding in 2009, Tory Burch founded the Fellows Program to help women-owned small businesses. Only 50 women entrepreneurs will be selected to join the year-long program. The program’s initiatives include access to educational resources and workshops from Goldman Sachs, networking opportunities within an invaluable community of founders through a premier online networking platform, and a $5000 grant.
Eligibility:
Deadline: Usually around November 12 every year
Eileen Fisher is probably best known for her contributions to the world of fashion, but did you know about her passion for supporting women-owned businesses? Every year, through the program, the company gives out ten grants with a maximum of $10,000 per grant to women-owned businesses that have moved past the startup stage. Applicants can come from multiple industries, but they have to make a positive difference in the environment. You can find out more about the guidelines for the Eileen Fisher Women-Owned Business Grant and the status of the program here.
The Girlboss Foundation Grant was founded by the original Nasty Gal herself, Sophia Amoruso, back in 2014. The program was popular for female entrepreneurs focusing on creative businesses in music, fashion, design, and the arts. That’s because grant recipients received $15,000 toward their business and added exposure on the Girlboss platform. Since 2014, the program has given out $130,000 worth of grants.
Currently, there are no updates on the website for the grant. The last funded round was in 2019. However, you can still access valuable resources when you sign up for Girlboss’s Network and newsletter.
Eligibility:
37 Angels is a venture capital fund that strives to close the gender gap in startup funding. Seeking VC funding is an excellent option for growing companies with revenue between $50K-500K. Applicants can apply any time through Gust. Securing VC funding is hard, and it’s no different for 37 Angels. Only 8 out of 500 applicants every two months will get the opportunity to pitch in-person for a chance to receive funding from $50K-$200K. You can learn more about the process here.
Eligibility:
While these aren’t necessarily small business grants for women, they can still provide valuable funding sources for startups looking to get an influx of cash.
Small Business Administration (SBA) Loans are specifically developed for small businesses of all shapes and sizes in the United States.
Canada also offers a number of government-funded loans and capital investments for small businesses, including support for rural SMEs. For women they offer several specialized loan options, including::
There are still plenty of alternative financing options around for those who are having a difficult time qualifying for an SBA or Canadian Loan or don’t have time to wait for grants to become available. Women entrepreneurs can get funding through online invoice financing by getting their invoices paid in days.
Cash flow is the number reason why most startups fail. One of the best sources for cash flow is unlocking cash tied up in account receivables.
Eligibility:
Deadline: None. Get a funding decision in one day.
Unlike grants, you’ll have to pay back the funding you receive from Union Bank.
Union Bank is committed to empowering woman-, minority- and veteran-owned businesses.
The program offers many options, including secured or unsecured amounts of up to $2.5 million dollars with fixed or variable rates.
Eligibility:
Deadline: None.
This grant for female entrepreneurs in the jewelry industry has been around for 13 years. The grant is designed for businesses less than three years old. This qualification makes it perfect for startups!
Winners get a $7,500 grant and another $1,000 they can use on Halstead supplies. Even better, all applicants can still receive advice on their business plans to continue developing as entrepreneurs.
Eligibility:
Deadline: August 1st each year.
The FedEx Small Business Grant is available to small business owners, men and women. Still, this is an excellent opportunity for women-owned businesses focusing on innovation, sustainability, and products serving niche and underserved markets.
Three winners of the 2022 Grand prize received $50,000, but that’s not all. They also received $4,000 in FedEx Office print and business services. This can go a long way to cutting down monthly expenses and reaching more customers.
Seven Silver prize winners received $20,000 and $1,500 in FedEx services.
Deadline: February 10-28, 2022
This Candian-specific grant program by Communitech helps women-identifying and/or non-binary-founders to grow their business rapidly. Participants receive coaching from business experts to design a highly-customized growth plan, with the finalists receiving a cash prize of $50,000 from the Federal Economic Development Agency of Southern Ontario.
Eligibility:
Deadline: Applications are currently closed.
That’s right. This is that Cartier. As in, the legendary jewelry brand. But Cartier does much more than create stunning jewelry and watches. The Cartier Women’s Initiative Award is given out once a year to 21 women entrepreneurs. Seven of the top finalists will be awarded USD $100,000, while the other 14 will receive $30,000 each. All finalists will get personalized business and financial coaching, workshops, and networking sessions.
Eligibility:
Deadline: The call for applications for the 2023 edition will open on Monday, May 16, 2022, and close on Thursday, June 30, 2022, 2 p.m. Central European Summer Time (CEST)
It’s important to remember the grants available right in your backyard. There are all kinds of grants offered by local and state organizations, along with other valuable resources. Be sure to talk to banks and other institutions near you to learn what might be around. You could be surprised by what you find.
For organizations in IT, Digital Health, and CleanTech with at least one female founder, you are likely eligible for a Belle Capital Grant. Belle Capital is a US-based angel investment firm supporting women business owners and founders.
Eligibility:
Deadline: There is no deadline, and you can apply here.
The Women Founders Network hosts a competition every year to help women business owners and entrepreneurs sharpen their pitches to angel and VC investors. While the competition offers up to $55,000 in cash, the real steal is the networking opportunity for female entrepreneurs looking to cement themselves in the business space. Ten lucky winners will get one-on-one coaching, a personal finance mentor, a virtual meet and greet with sponsors and investors, and potential cash investment from investors. All they have to do to get started is apply online.
Eligibility:
Deadline: In 2022, the deadline is between April 18 and June 1, 2022
As you might imagine, Women Who Tech is a nonprofit organization aiming to support women business owners and entrepreneurs in the tech space. Out of over 8000 women-led startups supported by Women Who Tech, 40% are led by women of colour, and 81% are still in business. And this organization just doesn’t have one grant-their grant program has had four:
Generally, these are split between a $15,000 Innovation Grant and a $5,000 Impact Grant. Applications are completed online, and specific grants open up at different times throughout the year.
Eligibility:
Deadline:
There are a variety of grants available for women entrepreneurs, and it’s often necessary to apply to several programs at once. At the same time, you may want to widen your net to cash grant programs that aren’t just specific to women business owners. You may also want to pursue mentorship programs or challenges related to your particular industry or business development needs.
Grant and program databases are the best way to narrow your search and keep track of current grant programs.
First launched in 2001, Grants for Women is an index of funding opportunities for women business owners. The website offers an A to Z directory for grants and scholarships for women.
They also provide summary information about the different types of grant money available, including government grants, private grants, and professional grants. In addition, there is a section on how to apply for grant programs.
Grants.gov is a massive government grant database that is geared toward providing information for business development funding. This website is the end-all, be-all of government grants, and it includes extensive information on eligibility, how to apply, a full-scale grant search, and other information.
However, this grant money isn’t just for women entrepreneurs. There are grants for just about any type of business under the sun, including government agencies, education organizations, public housing authorities, nonprofit organizations, and small businesses.
Rather than provide grant money opportunities, Challenge.gov is all about solving problems.
The United States Federal Government offers prizes for individuals who can help solve active challenges. But some of these challenges look similar to funding rounds, such as America’s Seed Fund Startup Expo Competition. Others may be focused on issues such as destigmatizing mental health or innovations in wildlife conservation. While it’s not officially a federal grant program, it’s an opportunity to be rewarded for innovation and hard work.
The Women’s Business Center is a national network of centers meant to help entrepreneurs. These business centers typically offer free or low-cost training, mentorship, and counselling for business development. Centers may also keep tabs on local grant opportunities and other relevant funding options. The Small Business Administration makes it easy to find your local chapter here.
Another immense database is the Canadian Business Grant Center. They not only have their own funding finder engine, but they also list recent grant recipients and offer some best practices for applying to funding opportunities.
Assume that the reader knows nothing about your business or industry. Reduce jargon or unnecessary vocabulary in your writing.
Assume that the reader knows nothing about your business or industry. Reduce jargon or unnecessary vocabulary in your writing.
Readers want to be inspired by your mission. If you haven’t already, watch this TedTalk by Simon Sinek.
If you’ve already created a business plan, chances are, you’ve come across these popular frameworks. Getting these frameworks accurate the first time is difficult. We suggest asking the right people to look over your business plan and matrix. Even if you don’t have to include a business plan in your grant proposal, you should still go through these exercises to better understand your business and environment.
Make sure your budget matches your proposal and timeline. It’s easy to be overly ambitious, but most grant applications fall flat when there is a misalignment in budget and goals.
Highlight your strengths! Emphasize your team talent, competitive advantage, customer loyalty, so on, and so forth.
Turn your goals into S.M.A.R.T goals—the more realistic and sound your proposal, the higher your chances of success.
Every sentence should be important and impactful. Most grant readers go through hundreds of applications a day. Make sure you stand out by focusing on what’s important.
Get feedback from people you trust or, better yet, ask grant editors or previous successful grant winners for review.
Shopify’s COVID-19 government relief program resources around the world: Government Relief Programs for Small Businesses Affected by COVID-19.
Government of Canada’s resource page: Funding for businesswomen
Ontario Business Grant’s comprehensive list: Female Entrepreneur Grants (2020): 18 Current Programs for Women-Owned Businesses
MieiIQ’s comprehensive blog post on funding opportunities for women: Small Business Loans and Grants for Women in Canada Blog
Intuit’s Canadian government funding resource: Where to Find Government Funding for Women Entrepreneurs
In a world where women receive a mere 10% of venture capital, grants are a critical source of business funding for female founders and entrepreneurs.
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