Grants for minority women deliver funds that female entrepreneurs can utilize to start or expand the business. Though there are fewer grants available, particularly for minority women, however, they exist.
Raising capital is one of the most difficult aspects of being an entrepreneur, where women specifically face even more challenges. Firstly, they have limited access to funding, and secondly, they have to balance family and business life. Most industries are still dominated by men, making it hard for women entrepreneurs to build trust and earn respect. To reduce the barriers and close the gap, various government and private organizations offer minority women grants and loans.
Grants for Minority Women – Where to Find these Grants?
The grants world is not static; therefore, a grant seeker must regularly discover opportunities. Grants are divided between federal, state or municipal, and private programs. Begin with local opportunities as they have less competition and offer the chance to widen the network, growing your presence. You can expand the results by applying annually for other grants with greater opportunities as it eventually improves your application skills.
If you are searching for public or private funding, here are some good places to start your search:
If you intend to apply for federal grants, start your search for the grant opportunities at the biggest database of U.S. government grants. To apply for these grants, you need to obtain a DUNS number, supply the EIN or SSN, and then get registered on the System for Award Management (SAM). For more information, visit https://www.grants.gov/
The U.S. Small Business Administration (SBA)
The SBA is a U.S. federal government agency helping entrepreneurs and small business owners succeed. SBA helps small businesses by improving their access to funding, providing grants, and low-interest small business loans.
For more information, visit https://www.sba.gov/, and underfunding programs section, click on SBA associated awards in the grants sub-heading. You can find there more about grants that your business might be eligible for.
Local Women’s Business Center
SBA supports minority women with small businesses through its support of a national center of women’s business centers. It offers business plan development, business development training, business mentoring and networking opportunities, and access to funding.
To find SBA-supported Women’s Business Center (WBC) near you, use the SBA’s lookup tool. Visit https://www.sba.gov/, click on local assistance and find help nearby.
It can be worth checking out for the Small Business Innovation Research (SBIR) program if your business involves technology somehow. This program offers grants for small businesses pursuing valuable research and development. For the current funding opportunities, check out the Solicitations Listing page.
Grantsforwomen.org/ keeps an updated list of small business grants. This website is worth checking out to find grants for minority women.
Grants for Minority Women – Winning Grant Money
While numerous grant opportunities exist, obtaining grants is difficult as they are competitive, and it requires effort to submit an impressive application. The application process of each program is different, where some require financial information and other details while others can be loosely managed. If your application gets denied the first time while applying for grants for minority women, consult with a professional grant writer. Check out the list of grants aimed specifically at for-profit businesses owned and run by women.
Ms. Foundation Grants
The Ms. Foundation for Women identifies and supports organizations that address pivotal issues such as reproductive health, fighting gender-based violence and affordable child care with living-wage jobs. The grants are paired with networking, skill-building, and other strategic opportunities that advance solutions to build social movements. For more information, visit https://forwomen.org/ and then click on grants in the navigation bar.
Women Founders Network
Every year, a Fast Pitch Competition is hosted by the Women Founders Network, a community of highly motivated women. Female entrepreneurs can apply for the opportunity to pitch investors to win cash prizes. It also provides female founders with access to capital, visibility, and mentor-ship. For more information, visit https://www.womenfoundersnetwork.com/
The Amber Grant for Women
WomensNet awards several women business grants throughout the year. Each month, $10,000 grants are awarded to the Amber Grant for Women by WomensNet. Each winner is further eligible for an additional $25,000 awarded at the end of the year. For more information, visit https://ambergrantsforwomen.com/
The Cartier Women’s Initiative Awards
The Cartier Women’s Initiative Awards under regional awards offer seven grants of $100,000 each and fourteen grants of $30,000 each. It is a super-competitive program that offers awards to women entrepreneurs heading business with the potential to grow significantly. For more information, visit https://www.cartierwomensinitiative.com/, and in the side menu bar, you will see how to apply, click on it to apply for regional awards.
The grants for minority women are offered to empower female entrepreneurs, helping them achieve their goals. These grants support efforts led by women, girls, or anyone who has been identified as such, that address social, racial, and economic injustice.