A few weeks back, we shared “4 Small Business Grants for Women” on our blog. As we wrote then, “Having enough capital is key to running a successful small business. Finding capital is difficult, often more so for women.” So, here are more grant opportunities, courtesy of Nerd Wallet’s Rieva Lesonsky.
37 Angels – While not a traditional grant program, 37 Angels can be a great funding solution for startups looking for investment. While they don’t only invest in women-owned businesses, 37 Angels is actively trying to close the gender gap in startup investing. According to their website, about one-third of their portfolio is women founders.
After submitting an application through their website, you may have the opportunity to pitch their network of investors (an event that happens every two months). You’ll receive a funding decision in four weeks and can receive an investment of up to $200,000. In addition to funds, 37 Angels also provides education and ongoing support.
The Halstead Grant – The Halstead Grant started in 2006 as a small business grant for women entrepreneurs specifically in the jewelry industry. The grant is awarded to emerging jewelry designers in the United States—specifically geared toward businesses under five years old.. Those that apply should be prepared to answer a series of questions about their business goals and strategies. Winners are awarded a $7,500 cash grant, $1,000 toward Halstead jewelry supplies, and publicity within the jewelry industry. The good news is that even those applicants who don’t win will receive general feedback on their business plans from the judges.
IdeaCafe Grant– The IdeaCafe Grant awards a $1,000 micro-grant to one small business owner each year. The application deadline is in January, so apply early. Although the funding isn’t technically a small business grant for women only, the vast majority of the winners have been female entrepreneurs. This is a great grant to apply to if you’re a relatively new startup looking for funding. This grant is also available for those that have an idea for a business but haven’t actively started building it yet.
State and Local Small Business Grants for Women – The grants we’ve mentioned above are open to businesses nationwide, but there might also be state and local options. When starting or expanding your business, make an appointment with your local Small Business Development Center (SBDC) or SCORE office. These organizations are plugged into the local financing community and will be able to guide you if there are any small business grants for women in your area from local corporations, philanthropic, or economic development organizations.
Not all of these grants may be right for your business, but we hope you’ll find at least one that suits your needs. Finding funding can be a daunting task, but do your research and you should find something. As a proud woman-owned business, we at VersaTel Solutions love sharing ways to make companies more successful. And our team of business experts is available to help you with your bookkeeping, administrative, and HR needs. Reach out to us, and we’ll find a package that’s right for you.