Are you an American single mother looking to apply for a grant to launch your own small business? Look no further, as this post contains the top small business grants for single mothers and women generally.
There are already over 13 million women-owned enterprises in the US, supporting over 10 million jobs and bringing in a whopping $1.8 trillion in income annually.
They’re prospering annually; according to research, in 2022, profits growth for women-owned businesses increased by 27% compared to 22% for male-owned businesses.
Globally, women are thriving, and their businesses are contributing to economic expansion in a variety of ways.
Still, a lot of women experience prejudice at work. There are many challenges that women confront that their male colleagues do not, such as sexual harassment, hiring and firing conflicts, and the persistent gender wage discrepancy.
Funding is one such barrier. According to a 2020 survey, female entrepreneurs’ average loan amount was 33% smaller than that of male founders.
In this article, we did look at the list of small business grants for single mothers and mom’s generally. If you are a woman and have an existing small business you wish to scale, or if you are yet to start at all, this is a huge opportunity for you. Read all on Small business grants for single mothers and mom’s.
Small Business Grants For Single Mothers
1. Grants.gov
Grant.gov offers a wide selection of government grants, with more than 2,000 US government grants available. This is the prudent place to begin your search.
You will need to create an account on the System for Award Management (SAM) and provide your DUNS number, EIN, or SSN in order to apply for a grant through this site.
2. Small Business Administration (SBA)
You’ve probably heard of the SBA if you’ve already established a small business.
Its goal is to assist small company owners by providing them with more access to funding sources such as loans and grants.
Take a look at their Local Women’s Business Center, which focuses on increasing access to financing, if you’re searching for a grant specifically for women.
3. Girlboss Foundation
A new program called the Girlboss Foundation Grant provides $15,000 annually to two women-led firms in order to assist innovative female entrepreneurs.
The winners will receive prominence on the #GirlBoss social media channels in addition to the prize money.
4. The Amber Grant
Many women in business find the Amber Grant Foundation to be an appealing alternative because to its simple application process and alluring prize money.
One of the twelve monthly grant winners receives a $25,000 end-of-year grant from the foundation in addition to monthly payments of $4000.
5. GrantsforWomen.org
This is an excellent resource for learning about all the funding opportunities, grants, and scholarships available to women-owned companies.
Their list of small company awards is updated often, so you may evaluate your possibilities and select the ones you wish to apply for.
6. The Cartier Women’s Initiative
The Cartier Women’s Initiative Awards present grants to 21 businesswomen annually.
Smaller enterprises that are one to three years old are the target audience. The rewards are appealing: seven finalists will get professional coaching sessions and $100,000. Each of the remaining winners will get $30,000.
7. Fast Pitch Competition
Every year, early-stage, women-owned firms with significant growth potential are invited to participate in the Women Founders Network Fast Pitch Competition.
The company must be headquartered in the United States, have no more than $750k in outside capital, and have a female founder, co-founder, or CEO. The top five finalists compete to earn over $100,000 in professional services and over $55,000 in cash awards by pitching their businesses to angel and venture capital investors.
8. The Universal Grant Application Database of IFundWomen
A grant marketplace called IFundWomen focuses on providing capital and mentoring to women-owned enterprises. Entrepreneurs may apply for funds through its universal grant application with only one application, and their firm will be paired with funding from several enterprise partners. Entrepreneurs will be notified and invited to apply when a match is established. This is a fantastic resource for enterprises seeking money from a variety of sources, since past grant partners have included organizations like Visa, Neutrogena, and American Express.
9. Grant Halstead
An annual prize for business people wishing to enter the silver jewelry market is the Halstead Grant. The winner gets $1,000 in jewelry products in addition to a $7,500 startup prize. In addition, five semi-finalists and finalists will get $250 or $500 and assistance in advertising their enterprises.
Small enterprises owned by men and women are both eligible for this subsidy. The entrepreneur must submit a design portfolio and respond to fifteen questions about business in order to apply. Annual applications must be submitted by August 1st.
10. Fast Break For Small Businesses
Two $10,000 grants are given out twice a year as part of the LegalZoom, NBA, WNBA, and NBA G League’s Fast Break for Small Businesses grant program, which is run by the Accion Opportunity Fund. Above and beyond the monetary prize, the winners receive $500 worth of LegalZoom services.
Entrepreneurs who wish to be informed when applications open can register on the LegalZoom website. The program’s goal is to provide small businesses with the capital they require to expand and prosper. The program is a fantastic chance for entrepreneurs searching for capital and tools to grow their company, and it is available to companies of all shapes and sizes.
It’s crucial to remember that grant availability might fluctuate; therefore, it’s critical to regularly look for and apply for grants. Furthermore, a lot of grants have deadlines, so it’s critical to be aware of these and make plans accordingly.
11. The Red Backpack Fund
The creator of Spanx, Sara Blakely, is a supporter of the Red Backpack Fund. Her charity has made it its mission to promote and assist women who choose to become entrepreneurs.
In the wake of COVID-19, the foundation gave $5 million to encourage female entrepreneurs, and it partnered with GlobalGiving to launch the Red Backpack Fund. To lessen the effects of the crisis, GlobalGiving is giving at least 1,000 grants, each worth $5,000, to American women entrepreneurs who are also business owners.
12. FedEx Small Business Grant
With a total prize fund of over $300,000, the FedEx Small Business Grant offers up to $50,000 to ten small firms annually.
Although the prize money is appealing, it’s not the only perk for winners; they also get considerable financing to utilize FedEx Office’s print and business services, which is really helpful if you’re just starting off!
13. Cartier Women’s Initiative Award
An annual project, the Cartier Women’s project Award program seeks to assist women-owned enterprises in their early stages that prioritize the advancement of social, economic, and environmental conditions. Businesses in nine distinct global areas are given three awards each.
A grant of $100,000 is given to the winning company; second place gets $60,000; and third place gets $30,000. Additionally, winners have access to executive coaching and a range of training sessions.
14. Small Business Innovation Research and Technology Transfer programs
These two competitive programs, which offer grants to small firms that support government research and development, are facilitated by the Small Business Administration (SBA). Opportunities for business grants are posted on the websites of eleven government departments, such as the Departments of Agriculture, Defense, and Health and Human Services.
Entrepreneurs can visit the SBIR website to check out available grants. The company must fulfill other eligibility conditions and function as a for-profit organization with no more than 500 employees in order to be eligible.
Companies can apply for a $150,000 grant through the Small Business Innovation Research program to set goals for research and development. Up to $1 million in funding may be awarded over a two-year period.
Eligible businesses can receive up to $250,000 for the Small Business Technology Transfer program during the starting phase and an extra $750,000 if research findings are encouraging.
15. Office Of Women’s Business Ownership (OWBO)
Through initiatives managed by SBA district offices, the Office of Women’s Business Ownership (OWBO), a division of the Small Business Administration (SBA), supports female entrepreneurs.
These initiatives include federal contracts, company advice and training, as well as financing and credit availability. Women’s Business Centers (WBCs), which seek to level the playing field for all female entrepreneurs are supervised by the OWBO. Companies that receive support from WBCs are far more likely to succeed than those that do not receive the same level of assistance.
16. National Association for the Self-Employed (NASE) Growth Grants
The National group for the Self-Employed (NASE), a nonprofit trade group, is offering this funding program. The organization gives small enterprises development subsidies of $4,000 each month, which they may spend for employing staff, marketing, and other company requirements. The company must have been a valid NASE member for at least three months in order to apply for this grant.
Final Thoughts
Notwithstanding the challenges, women in business are experiencing success after success.
Additionally, a wealth of research indicates that female company executives place a high priority on diversity, community service, and social responsibility, which might result in a future where everyone is treated more fairly and sustainably.
Grants are frequently the catalyst that helps women-owned enterprises get off to the strong start they deserve. Choosing a grant is a safer choice than taking out a loan because it’s practically free money that comes with no interest or repayment obligations.
Even though getting a grant might be difficult, it will benefit your company. Make sure your application meets the requirements of the sponsor, invest some time researching various grant choices, and submit as soon as you can to increase your chances!
