Do you want to break the glass ceiling and become a successful female entrepreneur?
There are many factors that you should consider financing for one.
Women used to have a difficult time starting businesses, but that seems to be the case no more.
In the past, some businesswomen had great ideas, but they failed to get a business up and running due to financial constraints. In most instances, men were the only people who would get loans and start successful businesses.
But today the business landscape has changed, and women are now taking over. They are now able to access grants aimed specifically at them. There are also many online lenders out there, like Camino Financial, that approve loans no matter what your gender is. and small business loans for women
Grants for female entrepreneurs
If you’re in the market for a grant that can help you grow your business, you’re in luck. There are many institutions out there that want to see you and your entrepreneurial endeavors thrive. We’re sharing with you our top 3 favorites.
1. InnovateHER challenge
This grant basically offers American entrepreneurs an opportunity to launch innovative products and services that help women and families.
The InnovateHER challenge grant is normally sponsored by the SBA and takes place annually, it awards attractive grants to women who want to start businesses. If you have created products that help women, you should try competing for this grant.
Unlike other SBA programs, you will not be submitting your application directly to SBA. Here, local competitions are usually hosted by universities, economic development organizations, SBA resource partners and other economic organizations across the country.
The local winners usually become semi-finalists and then they go through a process to find 10 finalists. These are the ones that will eventually attend the National InnovateHER.
The first prize is for $40k; the second prize, $20k; and the third one, $10k.
2. Girlboss Foundation Grant
This foundation was created in 2014. Ever since then, it has awarded over $110,000 in grants to female entrepreneurs in different fields, such as music, design, art and fashion industries.
The Girlboss Grant was founded by a serial entrepreneur known as Sophia Amoruso. This grant is usually awarded on a quarterly basis with the aim of empowering women who own businesses.
The foundation awards 3 grants per quarter depending on the number of submissions and amounts requested. The applicants are usually chosen by a committee, led by Sophia Amoruso, and other staff members who work for this foundation.
The submission are reviewed and judged based on creativity, clarity of plan, financial need and innovation.
3. The Amber Grants
The Amber Grant Foundation was started 20 years ago in honor of a young woman who died at the age of 19 before achieving her dream of becoming a renowned entrepreneur.
Every month, a grant of $1,000 is awarded to an applicant selected by WomensNet judges.
Then, one of the 12 monthly winners is able to get a $10,000 Amber grant at the end of the year.
It is easy to get one of these grants because you just need to tell the story of your business or your entrepreneurial dream and then the judges will value your ideas. If you can work on your narrative well and have an entrepreneurial spirit, you can be sure that you have a good opportunity to get this grant.
Being a female entrepreneur just became easier than ever
Grant money is free and does not cost you any interest or equity. This makes it ideal for women who want to start businesses and don’t have the financial resources to do so.
A grant can make a great difference because you will get the capital that you need to start your business immediately or grow your existing one.
You can still get a business loan if you fail to get these grants, so don’t worry, there are a lot of options out there for you.
Consider applying for one of these grants today, fulfilling your dreams is just a step away.