Small business startup grants for single moms-The last 20 years witnessed a swift growth of women owned businesses in US and has been ranked as the “fastest growing sector in the small business community.” The country presently has more than 9.1 million businesses headed by women that generate more than $1.4 trillion revenues.
To boost and enhance this budding resource channel, the government, state, business organizations and recognized associations have initiated several funding sources, assistance programs and grants that back the women force to accomplish their entrepreneurial goals and dreams. Start applying and commence your independent venture now!
Some Important Federal Grants Options for Women Owned Small Businesses Are
Small Business Administration
SBA is a storehouse of loans, grant and funding for single mothers for small businesses, especially those owned by women. With its branches in several states, SBA offers assistance to women in allocating funds for starting, developing and growing of the business. The Office of Women’s Business Owners (OWBO) helps launch new businesses, expand and compete with other ventures in the market. Moreover, it offers financing opportunities, helps prepare business credit report, penning down business plan, provides ideas, counseling and valuable recommendations for the business. The 4 important segments for which it offers support are:
Women's Funding Network
It is one of the largest philanthropic foundations that help in empowering women and aid with monetary assistance for the commencement of a business. Women’s Funding Network is a growing community having 160 women’s funds and foundation and aims to curtail poverty and help women fulfill their dreams. The organization helps in raising money for commencing women owned businesses.
The Eileen Fisher Business Grant Program for Women Entrepreneurs
This program offers grant amount of $15,500 to women entrepreneurs based on the concept, business and applications submitted. It needs to be a for-profit business or partially profit and partially nonprofit business. An attractive business plan and expansion scheme is needed for attaining the grant program. Some important criteria to note are:
- Business needs to 100% women owned
- It must be run by at least 50% women
- It must be at least at 3 years old or at start-up stage
American Association of University Women (AAUW)
It’s a nonprofit organization that boosts women to excel in every sphere, advocacy, careers, education, and research, business etc. The organization assists female entrepreneurs attain higher degrees, commence independent ventures and compete in the global market. Being one the highest funding sources, AAUW has awarded almost $3.5 to $4 million to graduate women for project undertakings, fellowships, community action programs etc.
The organization offers the platform for international business plan competition for women entrepreneurs to help, support and promote their for-profit business undertakings. It assists businesses that are at the initial stage and creates an international network for success. There are three phases of selection procedure and it begins from November and continues to next year March.
Enthusiastic women entrepreneurs can receive business related information and aid to advance their ventures with countless government information on federal acquisition. Moreover, it enables in attaining direct business access to government networks.
Research about your business needs and start applying today for the grants for women owned small businesses. For more information on business grants read through Business Loans and Grants for Women.
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