Female entrepreneurs are denied on business loan applications more frequently than men and also often end up with lower loan amounts and higher interest rates. This disparity makes it less surprising that there is a $1.7 trillion worldwide financing gap for female founders.
Despite this gap, businesses owned and controlled by women make an incredible impact on the United States economy. According to the 2024 Impact of Women-Owned Businesses Report, women entrepreneurs generate $2.7 trillion and represent 39.1% of all business owners, employing over 12 million people.
There are several grants available that were specifically created to help female entrepreneurs access capital and other opportunities like coaching, mentoring and education.
We’ve created a roundup of grants that are currently (or soon will be) open to applications that are meant specifically for women in entrepreneurship.
VistaPrint and Female Founder World have teamed up to launch the Female Founder World Grant, which offers a $15,000 cash grant to businesses in the United States. This grant can be used for marketing, manufacturing or research and development, and grantees must demonstrate how the funds will be used.
Requirements:
- Grantees must be engaged with the Female Founder World community and sign up with full business details.
- Annual revenue must be at least $40,000 and no greater than $1 million.
- Applicants must have fewer than 10 employees.
- They must have a demonstrated product-market fit.
- They must sell a physical product or good.
Deadline: Applications close September 17, 2024.
This grant was created by Mama Ladder International to offer funding opportunities for moms who are entrepreneurs. The goal of the grant is to help more moms hit the $1 million revenue mark in their companies. The grant is open to all women caregivers, regardless of their child’s age, and provides funds up to $10,000.
Requirements:
- Grantees must be a mom; parents of adult children, expectant mothers, stepmoms and foster moms are also eligible for a grant.
- Applicants must own at least 50% of a for-profit or service-based business.
- Annual revenue must be between $10,000 and $500,000.
- The business must be located in the U.S. or Canada.
Deadline: The application period for fall 2024 grants is September 1–30.
Through its partnership with Hidden Star, Galaxy Grants offers $4,250 in funding for women and minority entrepreneurs. The application is a very short form, and the company also has an online community with a free or paid membership option that gives users access to an online forum and information about other grants.
Requirements:
There are no requirements other than that the grantee must be a woman or minority.
Deadline: The deadline for the current grant application is September 30.
The EmpowHER grant offers up to $25,000 to female social entrepreneurs whose business model directly addresses a social issue. These social issues are defined as poverty and hunger, sustainability and the environment and strong communities. The businesses must be in their early stage, and there are quarterly opportunities to apply for the grant.
Requirements:
- This grant is open for female entrepreneurs ages 22 or older.
- Businesses must be registered for-profit entities operating in the United States.
- The business must address a social issue through its business model.
- Businesses must not be more than three years old.
Deadline: The application is open for the first two months of every quarter:
- Q1: January–March
- Q2: April–June
- Q3: July–September
- Q4: October–December
These grants by WomensNet are always open for applications. Each month, Amber Grants award $10,000 to women-owned businesses in any category and $10,000 to women-owned businesses that are still in the ideation phase. There is also a monthly grant for a business category. The company also awards three $25,000 grants annually to one of the winners of the $10,000 grant.
Requirements:
Other than the requirements for startup grants or business type grants, these grants are open to any woman-owned business, including nonprofits.
Deadline: Since these grants are awarded monthly, applications are always open. There is a $15 application fee.
Women of color entrepreneurs across diverse fields can apply for the $1,000 HerRise MicroGrant from the Yva Jordan Foundation, the nonprofit arm of HerSuiteSpot. Like the AmberGrants, this grant is open to applications every month and can be used to fund coaching, capital and community so that women of color can scale their businesses.
Requirements:
- Companies must be 51% owned by women of color.
- Businesses must be registered in the U.S.
- They must have less than $1 million in gross revenue.
Deadline: There is rolling admission for grants. Applications close on the last day of each month.
Photo courtesy of Dragana Gordic/Shutterstock
