Funding Resources
Some private organizations and businesses have created national grant programs for women small-business owners. Here are two to look into:
The Amber Grant Foundation awards $500 to a different women-owned business every month. At the end of each year, one of the 12 grant winners is awarded an additional $2,000. The application is relatively simple: Explain what your business is, describe what you’d do with the grant money and pay a $7 application fee. The foundation’s advisory board chooses the winners, looking for women with passion and a good story.
Eileen Fisher, a women’s clothing retailer, awards $100,000 to up to 10 women business owners each year. To be eligible, women must make up at least 51% of your business’s ownership and leadership, your business must have been in operation for at least three years, it must not exceed $1 million in annual revenue, and it must be focused on environmental or social change.
TWO OTHER GOOD POSSIBILITIES FOR funding
These options aren’t specifically for women, but they’re good small-business grants to consider:
FedEx awards up to $25,000 a piece to 10 small businesses annually. The application requires an explanation of your business, how you’d use the money, photos of your business and — this part is optional — a short video explaining your business. You don’t need a FedEx account to apply.
Chase Bank gives $150,000 to 20 small businesses each year through its Mission Main Street Grants program. To be eligible, you must have been in business at least two years and have fewer than 100 employees, and the application includes answering five essay questions.
