13 Best Small Business Grants for Women for 2023
This article is part of a larger series on Business Financing.
Many organizations issue grants geared toward women-owned businesses. Since grants do not need to be repaid, it is an excellent source of funding if you can get it. Different types of grants have varying terms, eligibility, and selection criteria. The grants we’ve selected cater to a wide range of businesses, such as startups and lower-revenue companies, and include individual grants. The availability and methodology of how grant winners are selected are dependent on the specific grant.
Best Small Business Grants for Women at a Glance
Maximum Grant Amount | Time in Business Required | Revenue Requirement | Eligible Industries | |
|---|---|---|---|---|
 | $25,000 | None | None | Women-owned businesses |
 | $4,000 | None | None | No restrictions |
 | $10,000 | Not stated | Not stated | No restrictions |
 | $5,000 | 1 to 5 years | $75,000 annually | For-profit businesses |
 | $100,000 | 1 to 5 years | None | For-profit businesses |
 | Varies | Less than 5 years | None | Silver jewelry artists |
Organization Name | Issues Grants? | Resources Provided | Provider Link |
|---|---|---|---|
 | No, but has angel funding | Angel investments for women-owned businesses | |
 | ✕ | Federal agency that provides training, mentoring, and other resources to minority business enterprises | |
 | ✕ | Counseling and training to women-owned businesses | |
 | ✕ | Directory of organizations that issue grants, educational content on how to get a grant | |
 | ✓ | List of available grants updated throughout the year | |
 | ✓ | List of grants and fellowship opportunities year-round | |
 | ✓ | Directory of available federal grants and resources for understanding how grants work and how to apply |
Amber Grant
| |
Grant Terms | |
Funding Amount |
|
Application Deadline & Selection Timeline |
|
Number of Grants Available |
|
Selection Criteria | Winners selected based on business plan |
Application Fee | $15 |
Eligibility Criteria | |
Qualifying Industries | Women-owned businesses |
Time in Business | None |
Revenue | None |
The Amber Grant issues several $10,000 grants throughout the year. Monthly Amber grants have a single winner selected for the full amount of $10,000, with four additional finalists each receiving $1,000. An additional monthly grant of $10,000 is available for a specific business category as well as a quarterly winner for a non-profit and startup company.
Winners will also be considered for one of two $25,000 grants at the end of each year. The first $25,000 grant goes to one of the winners of the monthly business category, while the other goes to one of the winners of the monthly Amber Grant.
To be eligible for the Amber Grant, your business must be at least 50% women-owned and be based out of the United States or Canada, with the grant applicant being at least 18 years of age or older. There are no stated restrictions for your company’s industry.
Applications are accepted on a rolling basis throughout the year. Since grants are issued monthly, you can re-apply if you are not selected as a winner. However, the company recommends only doing so if something significant has changed with your business model. Note that applications using the same email within a three-month timeframe will not be accepted.
National Association for the Self-Employed (NASE)
| |
Grant Terms | |
Funding Amount | Up to $4,000 |
Application Deadline & Selection Timeline | None (applications accepted year-round) |
Number of Grants Available | Winners selected monthly |
Selection Criteria | Winners selected based upon need, business plan, intended use, and potential impact |
Application Fee | As low as $12 monthly for three months, or $120 annually (membership fee) |
Eligibility Criteria | |
Qualifying Industries | No restrictions |
Time in Business | None |
Revenue | None |
The NASE offers a Growth Grant of up to $4,000. If you are selected as a winner, funds can be used for a variety of business purposes, such as marketing, advertising, hiring, expansion of facilities, and more.
Grants are awarded based on a variety of factors. You’ll need to have a business plan that identifies why you need additional funding, how you’ll use it, and how the grant proceeds are expected to impact your business.
Applications are accepted on a rolling basis throughout the year. The date of your completed grant application will determine when it will be reviewed. The NASE states that applications are reviewed four times each year, beginning the month following the end of the quarter.
To apply for this grant, you must be a member of the NASE. The price for a standard membership is $120 annually, although discounted prices are available for veterans and students. Monthly membership plans are also available for as low as $12 per month but carry the requirement to wait 90 days before you are eligible to apply for a grant.
SoGal Black Founder Startup Grant
| |
Grant Terms | |
Funding Amount | Up to $10,000 |
Application Deadline & Selection Timeline | None (applications accepted year-round) |
Number of Grants Available | Winners selected monthly |
Selection Criteria | Varies |
Application Fee | None |
Eligibility Criteria | |
Qualifying Industries | No restrictions |
Time in Business | Not stated |
Revenue | Not stated |
To be eligible for the SoGal Black Founder Startup Grant, you must self-identify as a Black woman or Black nonbinary entrepreneur. You must also already have a registered business and plans to seek financing for continued future growth.
The SoGal Foundation offers grants of $5,000 and $10,000. Winners will also receive additional assistance in the form of ongoing mentorship with the SoGal Foundation and SoGal Ventures teams.
To be considered for the grant, you’ll need to provide a business plan and financial documents. You’ll need to explain what your future plans are and how you plan on achieving them. Commonly requested financial documents may include tax returns, profit and loss statements, and projections for income and expenses.
Grant applications can be submitted online. There are no deadlines, and winners are selected monthly.
Tory Burch Foundation Fellows
| |
Grant Terms | |
Funding Amount | $5,000 |
Application Deadline & Selection Timeline |
|
Number of Grants Available | 50 |
Selection Criteria | Based upon your business plan |
Application Fee | $0 |
Eligibility Criteria | |
Qualifying Industries | No restrictions, but must be a for-profit business |
Time in Business | None, but 1 to 5 years is preferred |
Revenue | None, but $75,000 annually is preferred |
If you’re looking to get funding for business-related education, the Tory Burch Foundation grant could be right for you. Grant winners can use funds for education-related expenses such as books, executive coaching, workshops, and conferences.
To be eligible, applicants must be a woman entrepreneur with a majority ownership interest of 51% or more in the company. You must also be at least 21 years of age and run a for-profit business. Eligible companies should have one to five years’ time in business and generate at least $75,000 in annual revenue.
Up to 50 winners are selected each year. In addition to the grant of $5,000, businesses also get additional education-related perks. This includes one year of digital education, access to a network of advisors, the opportunity to participate in a mentorship event, and a paid three-day trip consisting of workshops and networking opportunities.
Applications for this grant typically open in September each year, with an application deadline of November. You can visit the Tory Burch Foundation website to apply.
Cartier Women’s Initiative
| |
Grant Terms | |
Funding Amount | Up to $100,000 |
Application Deadline & Selection Timeline |
|
Number of Grants Available |
|
Selection Criteria | Varies based on category of grant |
Application Fee | None listed |
Eligibility Criteria | |
Qualifying Industries | For-profit businesses |
Time in Business | Typically 1 to 5 years |
Revenue | None |
Winners of the Cartier Women’s Initiative grant can get up to $100,000 in funding. Grants are awarded for several different categories, including regional awards, science and technology, and diversity, equity and inclusion awards.
For each category, up to $100,000 in grants can be awarded. Third-place winners receive $30,000, second-place winners receive $60,000, and first-place winners receive the full $100,000 grant.
In addition to the monetary award, winners will also receive additional business-related training and support. This includes workshops, executive coaching, and access to subject matter experts for guidance and mentorship.
To apply, you can visit the Cartier Women’s Initiative grant website. Online application instructions are provided along with guidance on how to save, edit, and submit your application.
Halstead Grant
 | |
Grant Terms | |
Funding Amount |
|
Application Deadline & Selection Timeline | Typically August of each year |
Number of Grants Available |
|
Selection Criteria | Business plan and design of jewelry products |
Application Fee | None |
Eligibility Criteria | |
Qualifying Industries | Silver jewelry artists |
Time in Business | Less than five years |
Revenue | None |
The Halstead Grant is a good option if you are a jewelry entrepreneur. Eligible applicants must have less than five years’ time in business, which is typically measured from the time you began selling jewelry for income.
The grant is awarded annually, with the grand prize winner receiving $7,500 cash and a $1,000 Halstead gift card and finalists getting $1,000 cash and a $250 Halstead gift card. The selection criterion is based on both the design component of your jewelry business and the business planning aspect. Halstead states that each carries an equal amount of weight in the evaluation process.
In prior years, the organization had an annual deadline of August 1, but this can change from one year to the next. Since the terms and eligibility criteria can change each year, we recommend you check for any changes if you plan on re-applying for the grant in subsequent years.
To apply, you can download the application on the Halstead website and then mail it in. Applications must be postmarked by the deadline to be considered on time. Halstead recommends setting aside one to three months to complete the application.
Resources for women-owned business grants: In addition to the best women-owned business grants listed above, the following is a list of websites with additional resources. These include tips for how to get a grant and listings for additional grants and scholarships.
37 Angels
37 Angels can provide angel investments to women-owned businesses. Funding comes from businesses that apply to be a part of the company’s network. It can be an attractive option for angel investors, as the company states it has a high-performing portfolio with an internal rate of return (IRR) greater than 20%. Businesses that become a member of 37 Angels are expected to make at least one $25,000 investment in a company each year. Head to 37 Angels’ website for more information.
Minority Business Development Agency (MBDA)
The MBDA is a federal agency designed to help grow minority business enterprises. It does not issue grants directly but provides resources designed to improve the economic health of business owners. Some examples include providing assistance with securing capital, brainstorming marketing ideas, reviewing business strategies, and identifying strategic partners. To learn more, visit Minority Business Development Agency’s website.
SBA Women’s Business Centers
The Small Business Administration (SBA) has a partnership with the Office of Women’s Business Ownership to provide affordable counseling, training, and other resources to women entrepreneurs. Resources include access to credit, capital, and federal contracts. Women’s Business Centers are available nationwide, and you can use SBA’s location finder to see the center closest to you.
GrantsforWomen.org
GrantsforWomen does not provide grants directly; however, it offers information and educational content on different types of grants and how to get one. You’ll also find a number of blog posts covering a variety of topics surrounding grants. Additional resources include a directory of other organizations that provide grant funding and scholarships for women-owned businesses. You can visit GrantforWomen’s website to view its resources.
IFundWomen
With IFundWomen, you can get funding and get coaching for your business. Funding options include crowdfunding, grants, and working capital loans. Funding is provided by a number of partners, including Visa, Unilever, Diageo, Adidas, and American Express. If you head to IFundWomen’s website, you’ll see a list of available grants, which is regularly updated throughout the year.
American Association of University Women (AAUW)
The AAUW issues a number of grants throughout the year. A list of current funding opportunities can be found on its website and awards typically range from $2,000 to $50,000. Eligibility criteria vary but many of the fellowship and grant opportunities begin accepting applications on August 1 of each year with deadlines of either November or December. To view the most updated information, go to AAUW’s website.
Grants.gov
The website Grants.gov is a useful tool to find all available federal grant opportunities. In addition to providing a list of available grants, it offers resources for how you can apply and how to determine your eligibility. It also provides educational content for understanding how grants work. Head to grants.gov for the directory of available federal grants and resources.
Tips for Getting a Grant
Getting a grant can be difficult. Grants are often highly competitive and may require a significant amount of documentation. At times, it may also be difficult to find one you are eligible for. To help simplify the process, here are some tips you can follow.
1. Prepare a business plan.
It’s common for grant applications to require a business plan, especially if you are a startup. Having this prepared ahead of time will save you time and allow you to focus on other aspects of the grant application.
A business plan summarizes multiple aspects of your business. This frequently includes a description of your company’s products or services, competitive advantages, financial projections, marketing strategies, and industry competitors. For assistance, see our guide on how to write a business plan.
2. Collect financial documents ahead of time.
Similar to the business plan, many grant applications will require an overview of your business finances, and having these documents collected early can save you a significant amount of time. Items frequently requested can include tax returns, profit and loss statements, balance sheets, and business bank statements.
3. Look for grants regularly.
Grant opportunities are often updated regularly. Many of the websites we listed above provide weekly and even daily updates. If you don’t see any opportunities that you’re eligible for, we recommend checking back at least once a week.
Also, keep in mind that grant terms and schedules can vary from one year to the next. For example, an annual grant that was awarded less than 12 months ago could begin accepting applications early for the following year.
4. Follow the application instructions.
Even the strongest of grant applications may not win if application instructions are not followed. So while this may seem like an obvious tip, it’s a critical one that can cause an otherwise winning application to be disqualified.
Pros and Cons of Grants
| PROS | CONS |
|---|---|
| Most charge minimal fees, if any, to apply | Can be difficult to get due to limited availability of most grants |
| Require no repayment and have no interest charges | Eligibility criteria can be restrictive |
| Many companies provide resources on finding and applying for grants | Not the fastest way to get funding for your business |
Alternatives to Women-owned Business Grants
Competition for grants is high, so they can be difficult to get. It can also take time for funds from a grant to be disbursed. Here are some alternative funding sources which address some of these drawbacks:
- Small business grants: In addition to women-owned business grants, you can look at grants that have alternative eligibility criteria. Our list of the best small business grants has options for a wide variety of industries.
- Venture capital: In exchange for a percentage of ownership interest in your business, a venture capital firm may be willing to provide you with funding. Venture capital requires no monthly loan payments. Since the venture capital firm will have a vested interest in your success, it can also serve as an additional resource for advice and business planning. Learn more in our guide on venture capital.
- Angel funding: This is the process of raising funding from investors in exchange for equity in your company. It has many similarities to venture capital but is a less formal process. Our article on angel funding covers how it works and who it’s best for.
- Startup business loan: As a startup company, it can be difficult to get approved for a loan. However, there are providers that cater to newer businesses. See our recommendations for startup business loans.
- Rollover for business startups (ROBS): You can use a ROBS to get tax- and penalty-free access to your retirement accounts. This is not a loan so it can be easier to get funding with this, but you’ll typically need a balance of at least $50,000. To help you navigate the process of getting a ROBS, you can view our list of the leading ROBS providers.
Getting a loan for your business can be easier than a grant. However, you’ll still need to pick a loan that you’re eligible for and will also meet your business needs. Read our article on how to get a small business loan for guidance.
Frequently Asked Questions (FAQs)
Getting a small business grant can be difficult because there are typically far more applications than there are available grants. To increase your chances of getting a grant, you should apply for as many grants as you can and give yourself as much time as possible to complete each grant application.
With rare exceptions, there is usually no limit to how many times you can apply for a grant. Each individual grant will have its own set of terms and conditions that will indicate any such restrictions.
Your business plan should summarize various aspects of your business. You should include a description of your products, services, competitors, and marketing aspects. You can see our guide on how to write a business plan. Many small business grants require a business plan to understand various aspects of your business, so it’s important that you know how to write one to improve your chance of being selected as a grant recipient.
Bottom Line
A small business grant is a good source of funding to get. It is not a loan and requires no repayment. However, getting a grant is highly competitive. It can also take several months before grant recipients are selected and funds disbursed. If you cannot afford to wait, you should consider alternative sources of funding.
