Small business grants for women have increased year over year in the US. Every business woman aims to make a profit, but can you earn a profit without starting capital? As an entrepreneur, raising a starting capital to start a business is unquestionably a big part of the process. To empower women as business owners to succeed as entrepreneurs, some private organizations, non-profits, and governments provide small business grants for women.
Grants are free money that you receive, and you don’t have to pay them back. The non-repayment feature is a massive clause, unlike other small business loans and credit cards. Because grants are free, they became very competitive. When looking to win a grant, the important thing is to know where to look and understand the benefits available. With this, you can quickly proceed with your business plan. To further ease you in your search, we have a list of some small business grants for women and some open for men.
Grants.gov Small Business Grants
With over a dozen federal government agencies, Grants.gov is the best place to start looking for sponsored grants for women. The fact that all government grants are open to males and females makes it overly competitive. With an extensive database of current grants, you may need to sort through to find grants that are specifically for small business owners.
To apply for grants, visit the official government grants website, grants.gov, and check out the grants section to see which grants you are eligible for. Even though there are no specific small business grants for women, the website is a great place to start for women looking to win a government grant to improve their business.
Allies for Community Business Grants
Allies is a Chicago-based non-profit community lender. They provide loans, grants, free coaching or mentoring, financial aid, and more to businesses. The support is for small businesses focusing on Veteran, Black, Latino, female entrepreneurs, and LGTBQ, among others. The program is also available for business owners in Chicago and Cook county.
They partnered with several private and public organizations to provide grants for small businesses. With over $360M in grants to over 20,000 small businesses, you can say it is a great place to search for a grant. Their official website provides updates on grants and instructions on how to apply.
Illinois Hispanic Chamber of Commerce
With over $88.1m in financial resources, including contracts awarded, business loans and grants, and revenue growth, the Illinois Hispanic Chamber of Commerce prides itself as a promoter of economic growth by empowering entrepreneurs.
Based in Chicago but serving the entire state, it provides services such as a business development center, startup incubator, procurement and certification assistance for free coaching, Latino firms, and more. Illinois Hispanic chambers of commerce provide several aids to business owners, including grants and loans. Visit their official website for more on how to apply.
Cook County Small Business Grants
The last on our list is Cook County’s Assistance Program. Considering the impact COVID-19 had on the business world in general, Cook County Small Business Assistance Program set out to provide financial help for businesses affected by the COVID-19 pandemic.
The program also offers a free Advising program aside from the fact that they provide Grants, interest-free loans, and other funding sources. Although the program is solely for small businesses, BIPOC businesses can submit their application as well. Visit the Cook County Small Business Assistance Program’s website to learn more on how to apply.