As a woman, it can often be intimidating to be a business owner and attempt to compete with other companies in the industry. When you need funding to further your success, there are a few business grants for women in 2021 to consider applying for, whether you're a new or seasoned business owner.
The Amber Grant honors a young woman who passed away at the age of 19 before she was able to pursue her business goals and dreams. By applying for the grant, you can attempt to receive $10,000, which is awarded to female business owners on a monthly basis. One woman also receives $25,000 annually. It's one of the best grants for female small business owners
because the only requirement is that you're the business owner of a for-profit organization.
The Eileen Fisher Grant
The Eileen Fisher Grant awards $100,000 to 10 female business owners who are specifically focused on social or environmental change. There are a few requirements to be aware of before applying, which includes 501(c)(3) non-profit organization or having a fiscal sponsor and providing direct services. You must also focus on engaging women in the sustainable economy, encouraging women to assist in decisions to be made, and training women in climate change adaptation.
Prepare to provide thorough financial statements for one full year. The program also needs to be managed by a female.
The Red Backpack Fund
The Red Backpack Fund is sponsored by the creator of Spanx, Sara Blakely. The grant is created to give 1,000 women who have been directly affected by COVID-19 $5,000. Applicants must be at least 18-years-old, have annual revenues less than $5 million, and have at least one paid employee but less than 50 staff members. The business needs to be incorporated as a legal entity and should be capable of proving that the pandemic has caused hardship on the business.
The Ms Foundation for Women Grant
Those who are looking for project-specific and gender grants can apply for The Ms Foundation for Women Grant. This type of grant provides grants to state, tribal, and national non-profit organizations. You must have a non-profit organization that is based in the U.S., Puerto Rico, and U.S. territories.
Female Founders Veteran Small Business Award
Female business owners who are veterans can benefit from this grant because it awards three women $25,000. You can get the chance to pitch your idea to different investors. You must be at least 21-years-old, own at least 51% of the business entity, and have a low income or a lack of finances to grow your business when it's new or is starting out.
Becoming more aware and educated on the top small business grants for women in the new year can allow you to find different resources available when you need to fund your business. Whether you're just getting started or your business suffered from hardship due to COVID-19, you can apply for different grants to stay afloat and get through tough times.