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Grants for Women-Owned Businesses
If you run or manage a women-owned business, you are actively contributing to this tremendously vital economy. You also know that securing financial resources is a must for businesses aiming to launch, expand, or sustain their operations. At American Funding Group, we assist businesses across the US to qualify for and obtain these valuable grants, supporting innovation, growth, and success.
What Is A business Grant?
A small-business grant is an award, usually financial, given by one entity (typically a company, foundation, or government) to a company to facilitate a goal or incentivize performance. Grants are essentially gifts that usually do not have to be paid back. Small-business grants are targeted for a variety of purposes, from starting a company or helping it run more efficiently to aiding its expansion. The five main grant types for small businesses are: federal, state or regional, corporate, specialty, and startup. Each type targets different business needs and stages of development. Business grants for women are financial awards provided by government agencies, private organizations, or foundations specifically designed to support and empower female entrepreneurs by offering funds that do not need to be repaid, helping them start, grow, and sustain their businesses.
Women-Owned Businesses Statistics
Women-owned businesses fuel the economy, representing 39.1% of all businesses – over 14 million – employing 12.2 million workers, and generating $2.7 trillion in revenue. According to the 2024 Wells Fargo Impact of Women-Owned Business Report, in partnership with Ventureneer, CoreWoman, and Women Impacting Public Policy (WIPP), the number of women-owned businesses between 2019 and 2023 increased at nearly double the rate of those owned by men; and from 2022 to 2023, the rate of growth increased to 4.5 times.
This growth is particularly evident in sectors like transportation, education, and finance. Women entrepreneurs, especially women of color, have seen significant revenue increases, demonstrating resilience and innovation.
The annual State of Women-Owned Businesses Report, commissioned by American Express, recently found that:
The number of women-owned businesses increased 21%, while all businesses increased only 9%.Total employment by women-owned businesses rose 8%, while for all businesses the increase was far lower at 1.8%.Total revenue for women-owned businesses also rose slightly above all businesses: 21% compared to 20% respectively.
Additionally, the report shines a light on the growth in the number of women who are operating side gigs or hustles. The Amex report calls these women “sidepreneurs” and says they’ve grown at a rate that is nearly twice as fast as the overall growth in female entrepreneurship: 39% compared to 21%, respectively.
Much of that growth comes from minority women, where sidepreneurship is two times higher than all businesses: 65% compared to 32%, respectively. While the number of women-owned businesses grew 21% from 2014 to 2019, firms owned by women of color grew 43% and African American women-owned firms grew even faster, at 50%.
If you are a female entrepreneur, your innovation, resilience, and determination are driving forces behind economic growth and societal progress.
What is A Woman-Owned Business Enterprise (WBE)?
WBENC Certification validates that a business is at least 51 percent owned, controlled, operated, and managed by a woman or women. This means one or more women must have unrestricted control of the business, a demonstrated management of day-to-day operations, and a proportionate investment of capital or expertise.
While certification as a Women Business Enterprise (WBE) can enhance eligibility for certain grants, contracts, and funding opportunities, it is not always a strict requirement. Many grants specifically targeted at women-owned businesses do require WBE certification to ensure that the funding goes to businesses genuinely owned and operated by women.
However, there are plenty of grants and funding programs available that do not require WBE certification. These programs may simply require proof that the business is majority-owned by women, such as business registration documents or financial statements. Additionally, there are various grants available from private organizations, non-profits, and industry-specific groups that support women entrepreneurs without requiring formal certification.
Benefits Of Grants for Women-Owned Businesses
Grants for women-owned businesses offer numerous benefits that can greatly contribute to the growth and success of your enterprise.
Here are some key benefits of business grants:
No Repayment Required: Unlike loans, grants do not need to be repaid. This means businesses can utilize the funds without worrying about interest rates or debt accumulation, freeing them to focus on growth and development.
Access to Capital: Grants provide essential capital that can be used for various purposes, including marketing, hiring, purchasing equipment, and expanding facilities. This type of financial boost can be a game-changer for small businesses looking to scale.
Economic Development: Grants aim to stimulate local economies by supporting businesses that create jobs and contribute to community well-being. By securing a grant, your woman-owned business can actively participate in regional development initiatives, contributing to the growth and prosperity of your community.
Recognition and Credibility: Receiving a grant can positively impact your business's reputation, signaling to customers, employers, and partners that the company is credible and worthy of support.
Types of Women-Owned Businesses That Can Qualify for Grants
Woman-owned businesses have access to a wide range of grant opportunities, for various industries and business types. At American Funding Group, we help businesses across all sectors navigate the grant application process. Here are some examples of businesses that can qualify for grants:
Construction Firms: Construction firms are essential for building and maintaining infrastructure, and they can qualify for various grants. The number of women in the construction industry is growing. According to BuilderTrend.com, between 2015 and 2019, the number of women-owned construction firms rose by 32%. With the help of business grants, women-owned construction businesses can work more efficiently, keep their workers safer, and use environmentally friendly practices. Grants help them stay competitive and continue to contribute to the state's growth.
Trucking Companies: Women-owned trucking companies are making notable strides in the industry. According to the Women In Trucking Association (WIT), women currently make up over 10% of professional truck drivers, an increase of more than 30% from 2018. Additionally, women hold 31.6% of C-suite positions and 36.9% of supervisory roles in transportation companies, highlighting their growing influence in leadership within the industry. With the help of business grants, women-owned trucking businesses can fund initiatives such as fleet expansion, technology upgrades, driver training programs, and more.
Restaurants: Women-owned restaurants have seen significant growth, with many women entering the industry and starting their own businesses, especially in the past decade. Currently, over 45% of US restaurants are owned by women. Women-owned restaurants are eligible for a variety of business grants, ranging from local to nationwide. These funds can be allocated towards initiatives like menu innovation, marketing efforts, equipment upgrades, and staff training programs.
Healthcare, childcare and social assistance: Women-owned businesses in the healthcare and social assistance industry are making significant contributions to the economy. In 2023, women owned 1,588,000 healthcare and social assistance companies, accounting for 11.3% of all women-owned businesses. Business grants can cover the costs of leasing new office space, purchasing medical equipment, and marketing the new locations to attract clients. A woman-owned home healthcare agency could use grant funds to open new branches in underserved areas, increasing access to essential healthcare services for more patients.
Small Business Grant Options For Women: Receive Free Money For Your Business
Our database contains hundreds of grant opportunities for women-owned businesses. Below are just some of the many grants available to female business owners:
Connecticut businesses that are at least 51% women-owned may be eligible for this Equity Match Grant offered by the Women's Business Development Council.
Southern California Job Creators Grant
Small businesses located in Los Angeles, Orange County, Riverside, San Bernardino, Imperial or San Diego counties may be eligible for this grant from Founders First CDC. Ten small businesses will receive $5,000 grants.
Organized by the Tory Burch Foundation and the Fearless Foundation, the Women of Color Grant Program awards $10,000 or $20,000 grants to 75 businesses owned by women of color annually.
A collaboration with the Fifteen Percent Pledge, the Dream Makers Founders Grant offers $25,000 grants to five female small-business owners. To be eligible, your business must employ between two and 10 people, generate revenue between $100,000 and $1 million and be at least 51% female owned.
Since 2006, the Cartier Women’s Initiative has granted more than $9 million to early-stage, for-profit, women-owned businesses that make a positive impact around the world.
National Association for the Self-Employed (NASE) Growth Grant
This organization awards Growth Grants to four member businesses each quarter worth $4,000 each. Grant funds can be used for marketing, advertising, hiring employees or expanding facilities — anything that helps your business grow
If you’re a maker of silver jewelry, you may be interested in applying for the Halstead Grant. Founded in 2006, the Halstead Grant gives new silver jewelry artists—women and men alike—the opportunity to apply to receive a $7,500 start-up grant plus other benefits they can use to grow their business.
Economic Development Administration
Every state and many cities have economic development resources focused on promoting strong local economies. These resources can provide assistance to local businesses, such as help with accessing state and federal funding. For example, the California Governor's Office of Business and Economic Development helps small businesses apply for federal and state grants.
Small Business Development Centers (SBDCs) provide comprehensive support to small business owners and aspiring entrepreneurs through counseling, training, and technical assistance. SBDCs offer free, one-on-one business consulting, such as help with developing a business plan, researching markets and finding financing - including grants, business loans and crowdfunding.
The Office of Women's Business Ownership (OWBO) is an organization within the Small Business Administration (SBA) that helps women entrepreneurs through programs coordinated by SBA district offices. These programs include business training, counseling, federal contracts, and access to credit and capital.
The National Women's Business Council is a non-partisan federal advisory council serving as an independent source of advice and counsel to the President, Congress, and the U.S. Small Business Administration.
Federal Grants: Grants.gov catalogs federal grants and provides additional information for those interested in applying. Some grant providers require applicants to register on The System for Award Management (SAM). For research and development focused businesses, the Small Business Innovative Research and Small Business Technology Transfer Funding programs may be of interest.
Are you a woman entrepreneur ready to take your business to the next level? Now is the perfect time to seize the opportunities available to you! Countless grants are specifically designed to support women-owned businesses, providing the financial boost needed to innovate, expand, and thrive. From local Small Business Development Centers (SBDCs) to national and private grant programs, the resources are at your fingertips.
Requirements for Women Entrepreneurs Applying For Business Grants:
Applying for business grants as a woman entrepreneur involves several key requirements and steps to ensure your application is competitive. At American Funding Group, we have streamlined the requirements to create a straightforward application process for you:
» You must be a business owner in the United States
» You must have an active LLC, S-Corp, or S-Corp and an Employer Identification Number (EIN)
» You will be able to fill out one form with American Funding Group and answer 30+ questions to be paired with our best grant.
State-Specific Grants for Women Business Owners
Business grants are available for women entrepreneurs from every state. Some grants are county-specific, and aligned with the goals of local communities and economic development. Other grants are available regardless of the county or state in which your business is located. We have helped women entrepreneurs from all over the country apply for grants and obtain funding:
✓ Alabama
✓ Alaska
✓ Arizona
✓ Arkansas
✓ California
✓ Colorado
✓ Connecticut
✓ Delaware
✓ Florida
✓ Georgia
✓ Hawaii
✓ Idaho
✓ Illinois
✓ Indiana
✓ Iowa
✓ Kansas
✓ Kentucky
✓ Louisiana
✓ Maine
✓ Maryland
✓ Massachusetts
✓ Michigan
✓ Minnesota
✓ Mississippi
✓ Missouri
✓ Montana
✓ Nebraska
✓ Nevada
✓ New Hampshire
✓ New Jersey
✓ New Mexico
✓ New York
✓ North Carolina
✓ North Dakota
✓ Ohio
✓ Oklahoma
✓ Oregon
✓ Pennsylvania
✓ Rhode Island
✓ South Carolina
✓ South Dakota
✓ Tennessee
✓ Texas
✓ Utah
✓ Vermont
✓ Virginia
✓ Washington
✓ West Virginia
✓ Wisconsin
✓ Wyoming
American Funding Group Helps Women-Owned Businesses Obtain Grants and Funding
Understanding the world of grant applications can be overwhelming, especially for busy business owners juggling multiple responsibilities. At American Funding Group, we assist business owners in identifying and securing the grants they need. Here's how we support businesses through the process:
✓ You fill out a single application form on our website.
✓ Our system searches 7,000 grants
✓ Auto-apply for grants every month with our portal
✓ Grants are provided and distributed by private and federally-funded institutions listed on:
https://a4cb.org/services/grants
https://www.decaturedc.com/b2b
✓ The average approval rate for obtaining a grant is 30% to 40%.
✓ Once your grant is approved, it may take the grantor who approved it 30 to 90 days to distribute the funds to you.
Apply For Grant Funding Today
Grants offer women-owned businesses a valuable chance to secure the funding needed for growth and success. Whether you're starting a new venture, expanding an existing one, or a minority entrepreneur seeking specific support, numerous grant programs are available to help you reach your goals. At American Funding Group, we streamline the grant application process for you, so you can secure funding and take your business to the next level. Tap into your business's potential with American Funding Group and take the first step to apply for a business grant today.
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