If I could develop the perfect product, I’d start a business.
It’d probably have to do with food. Ideas include low-carb chocolate that actually tastes good, organic Slurpees or a wine-and-cheese package — you know, already paired.
However, I don’t have the money for that. Nor do I know anything about the food industry, but that’s not the point.
But maybe you have the time — and the perfect business plan — but just need some money to push you along?
Or do you have a business you’re struggling to get off the ground? Resisting a high-interest loan or giving part of the power to an investor?
Applying for a business grant might be your perfect solution.
Many grants cater to various demographics, and because I’m all about empowering women, I compiled a list of six grants for women-owned businesses.
5 Small Business Grants for Women
If you’re a woman who has a business or wants to start one, take a gander at these grants.
If the application window isn’t open yet, set a reminder. You’ll want to give yourself plenty of time to craft the perfect application and gain a competitive edge.
1. #Girlboss Foundation Grant
Awarded biannually to female entrepreneurs chasing their creative dreams — including design, fashion, music and the arts — the #Girlboss Foundation Grant honors forward-planning.
If selected, you’ll win $15,000 and business exposure through #girlboss channels.
Apply now to be eligible for this spring’s award. It’s free to apply, and you just need to enter the basics: name, contact information, a description of your project, the amount of money you need and an end goal.
2. The Amber Grant
Each month, The Amber Grant‘s panel of judges grants a winner $2,000. Then, at the end of the year, one of the 12 monthly winners is eligible to win an additional $25,000.
The nice thing about this grant is you don’t have to use corporate language or fancy synonyms. Judges look for passionate and heartfelt ideas and businesses — from dog walkers to scientific investors.
Again, the application is straightforward: name, company and other basics. You just type a few sentences about your business, what you’d do with the money and any other comments you think will help set you apart.
Note: there is a $15 application fee, but it’s totally worth it if you win.
3. Halstead Grant
This yearly Halstead Grant is offered only to women in the jewelry-making business. The application deadline is Aug. 1.
The winner receives $7,500 and a $1,000 shopping gift card to Halstead, which sells wholesale jewelry supplies.
Other perks include a trophy (best part, probably) and a trip to the company’s Arizona headquarters.
The application is straightforward — basic information plus short- and long-answer questions.
4. Idea Café Small Business Grants
OK, so this isn’t solely for women-owned businesses, but the majority of the Idea Cafe’ Small Business Grant’s winners have been women, so it’s worth mentioning.
For example, Flour and Salt Bakery owner Brittany Buonocore received the grant in 2016. She owns a small bakery in Hamilton, New York.
This $1,000 grant is for anyone who creatively solves an everyday problem. It’s not an astounding amount of money, but it’s a great start, so keep an eye open for when the newest application is posted.
5. InnovateHER Challenge Award
The InnovateHER Challenge Award for woman-owned (or even man-owned!) businesses and is awarded to those producing innovative products and service that impact and empower women and families.
Past winners include an app to find babysitters, a program that delivers fresh ingredients to your door or a Bluetooth that looks like a designer bracelet.
And there’s a whole lot of cash at stake — $70,000. First place gets $40,000, second place wins $20,000 and third place takes home $10,000.
Dates for the next challenge haven’t been posted yet, but there are no entry fees, so don’t hesitate to apply.
If you’re hesitant to jump right in, look for your local U.S. Small Business Administration-sponsored Women’s Business Center. There, you can speak with a mentor about a variety of topics.
Best of luck, ladies!
Carson Kohler (@CarsonKohler) is a former staff writer at The Penny Hoarder. Deputy Editor Tiffany Wendeln Connors updated this post for 2022.
[email protected] (Carson Kohler)