Financing and Grant Programs for Women Entrepreneurs

The 8 million women-owned businesses in the United States are a significant economic force: They employ more than 23 million workers and have an annual economic impact of nearly $3 trillion. Yet they continue to struggle for their share of financing. Fortunately, a number of financing and grant programs are available, some specifically focused on helping women-owned businesses succeed.

Some women entrepreneurs don’t know where to seek financing beyond their business bank. In an era where bank financing is especially difficult to come by, business owners need other options:

• Grants.gov: Managed by the U.S. Department of Health and Human Services, Grants.gov is a good place to start your search for financing and grant programs for women-owned businesses. The site offers discretionary grants from 26 different federal grant-making agencies, including the Department of Commerce, the Department of Agriculture, the Department of Energy, and the Small Business Administration.
• U.S. Small Business Administration: The SBA offers a variety of different business loans to all types of small businesses, including women-owned businesses. Start on the SBA’s Business Loans, Grants, and Financing page, which provides a guide to the various types of federal government financing programs.
• SBA’s Office of Women's Business Ownership: This specialized division of the SBA oversees a network of Women’s Business Centers nationwide. Each WBC provides not only business training, counseling, and resources to help women start and grow successful businesses but also financing and grant programs for women entrepreneurs.
• The Women’s Funding Network: This organization promotes the development and growth of organizations that fund women’s initiatives worldwide, including women entrepreneurial endeavors. It helps foster strategic alliances among women, donors, communities, and institutions. Members of the Women’s Funding Network include women’s foundations, public charities, and community foundations. All share a commitment to creating lasting social change by unleashing the power and potential of women at all levels of society. The organization optimizes the impact and success of women’s funds, acting as a global champion for investment in all types of women’s initiatives.
• Springboard Enterprises: Dedicated to helping women entrepreneurs find equity capital for growth, Springboard Enterprises showcases women-owned businesses at venture forums nationwide. The nonprofit also provides education and support to women entrepreneurs seeking equity financing and has assisted more than 400 women-led businesses in raising more than $5 billion through its programs and initiatives.
• American Association of University Women: The AAUW is one of the world’s largest private sources of funding for graduate women, including women entrepreneurs. It offers five different types of fellowships and grants, including Community Action Grants, made on a project basis to help women entrepreneurs implement new projects and initiatives, and Career Development Grants, made to women who can present a compelling case about the value of pursuing their entrepreneurial plans and how the grant will help them do this.
• WomanOwned.com: This website is devoted to providing tools and information to help women entrepreneurs in every aspect of running a business, including financing. WomanOwned.com also includes a section with resources to help avoid the many scams designed to take advantage of women business owners seeking financing.