16 Small Business Grants for Women (and How to Apply)

According to the 2024 Wells Fargo Impact of Women-Owned Businesses report, 39.1% of all U.S. businesses are women-owned. Still, women entrepreneurs face more obstacles than men in getting financing to start or grow their businesses. These challenges are even greater for those who are part of a minority.

To help reduce the gap and level the playing field, some corporations and foundations offer small businesses grants for women. Unlike loans, these grants are not debt-based: Once you receive it, the money is yours—no need to pay it back. Plus, many organizations provide extra support like guidance and resources, aside from the financial funding. 

Applying for grants takes time and effort, and you'll face a lot of competition. But if your business is selected, you'll get a considerable financial boost that you don't have to repay. Ready for the challenge? Here are 20 small business grants for women:

16 small business grants for women to consider

There are a “wide range of state, local, private, and federal grants available for businesses owned or led by women,” says Megan Shepherd, personal finance expert at Finder. Here's a list of 16 free grants to start a business—or grow an already existing one:

1. Amber Grant

The Amber Grant, provided by WomensNet, offers three $10,000 grants each month to women-owned small businesses. One grant is for general small business, another for startups, and the third for a business in a specific field. The category for this third grant is predetermined and changes monthly. 

In June 2024, the category is Business Support Service, followed by Animal Service in July, and Hair Care and Skincare in August. You can visit their website to check the upcoming categories. At the end of the year, the three monthly grants winners are eligible to receive the Annual Amber Grant of $25,000. 

How to apply: Fill out and submit the application form on their website, and pay a $15 application fee. 

2. Cartier Women's Initiative 

Every year, Cartier Women's Initiative funds early-stage women-led and women-owned businesses. The program offers three grant opportunities and awards three winners in each one:

• Regional Awards: Business from nine regions across the world, including North America and Europe, receive three awards each. First-place winners get $100,000, second-places get $60,000, and third-places get $30,000.

• Diversity, Equity and Inclusion Award: Open to all genders, this program was created to encourage entrepreneurial solutions for underrepresented or underserved communities. The grants are the same as the regional awards grants.

• Science and Technology Pioneer Award: Open for women entrepreneurs from any country and sector, it's designed to recognize the impact of scientific and technological innovation led by women. The financial support is the same as the regional awards.

In addition to financial support, Cartier Women's Initiative offers human and social capital support. This includes 1:1 training, 1:1 advice sections, networking sections, and access to an online and offline community of experts and peers.

How to apply: The call for applications happens once a year, typically between May and July. Applicants must meet predetermined criteria for each thematic award. You can check more details at the awards section on the Cartier Women's Initiative website.

3. IFundWomen

IFundWomen is an online platform that connects business owners with partners like Unilever, Visa, and American Express. “It’s a marketplace where you can be matched with a wide variety of grants that you may meet eligibility for,” Shepherd says. “This can help cut down research time, stress and be sure you’re getting an eye on a large portion of what’s available to you.”

How to apply: Fill out the IFundWomen’s Universal Grant application. The grants criteria and awards amounts vary according to the opportunity.

4. Dream Makers Foundation Grant

If you’re searching for small business grants for Black women, you should know the Dream Makers Foundation Grant. This collaboration with the Fifteen Percent Pledge is designed to support women entrepreneurs—especially Black and BIPOC founders.

“This grant offers a larger amount of cash than some other grants at $25,000 to five separate women entrepreneurs,” Shepherd says. “It’s not the best for start-ups though, as you’ll need to make at least $100,000 in annual revenue to apply.”

How to apply: Your business must meet all the eligibility criteria, which includes being part of the Fifteen Percent Pledge's Business Equity Community, having two to 10 employees, selling a product or goods, and being based in the U.S. The full list of criteria is available on their website.

5. Women Founders Network Fast Pitch Competition

As the name suggests, “this grant brings a little competition to the game as women compete for $25,000 grants by pitching their company,” Shepherd says. The Fast Pitch Competition takes place once a year and features two categories: Tech/Tech-enabled and Consumer/CPG/Other Non-Tech. Both categories award a $25,000 cash grant to the first-place winner. 

Those 10 finalists also receive a list of benefits, including financial mentoring, free professional services awards, and 1:1 pitch coaching.

How to apply: Visit the Women Founders Network Fast Pitch Competition site to check the eligibility criteria for each category and fill out the application form. You must pay a $50 fee at the time of the submission. The competition happens annually and applications for the 2024 grants are accepted until May 31st.

6. Giving Joy Grants

If you're looking for a small incentive to start or boost your business, the Giving Joy Grants may be a good option for you. “This is a small dollar grant that’s great for women start-ups” Shepherd says. “It offers microgrants up to $500 that can be used to kick start your company idea.” Just keep in mind that, to qualify, your grant activities must also socially benefit your community.

How to apply: Women from anywhere in the world, aged 18 or older, are eligible to apply. Giving Joy offers two annual grant cycles: spring and fall. Applications for the fall round open on June 1st.  For more details, visit the Giving Joy Grants site.

7. Women of Color Grant Program

Another option for small business grants for Black women is the Women of Color Grant Program, organized by The Tory Burch Foundation. This program selects 75 women of color-owned businesses to receive grants ranging from $10,000 to $20,000, access to education resources, and community in partnership with The Fearless Foundation.

How to apply: Your business must be for-profit, formed under U.S. law, and currently operating within the United States. Read the full eligibility requirements at their website.

8. High-Five Grant for Moms

Offered by The Mama Ladder organization, the High-Five Grant is a small business grant opportunity specifically for mothers. It is designed to support women with children of all ages—including step-mothers, foster moms, and first-time expectant mothers.

The awards range from $2,500 to the third-place finalist to $10,000 for the top three winners—who are chosen by public vote after a panel of judges selects the finalists. Plus, there are $1,000 honorable mentions awards for five additional businesses.

How to apply: While applications are currently closed, you can access The Mama Ladder website's grants page for information on the next cycle of submissions.

9. HerRise Microgrant 

HerRise Microgrant is designed to provide financial support for women of color entrepreneurs who struggle to secure funding for their business. “This foundation gives $1,000 grants each month,” Shepherd says. “To be eligible, your business needs to be 51% owned by women of color and make less than $1 million annually.”

How to apply: Applications are accepted on a rolling basis through HerRise Microgrant website. To qualify for a specific month, you must apply by 11:59 pm on the last day of that month; your application will be considered for the subsequent month.

10. Publish Her Business Impact Grant (BIG)

Developed by Publish Her in partnership with BankCherokee, this program provides resources for women of color business owners or authors. “If your business is 100% owned by a woman of color, you may be eligible to win the $5,000 grant,” Shepherd says. “Your business has to make at least $50,000 annually and you’ll need to be in business for at least one year.”

How to apply: Check the Publish Her Business Impact Grant website to review the full eligibility criteria list, and stay updated through their social media to know when the next application window opens. 

11. FoundHer Accelerator Program

The FoundHer Accelerator Program has one mission: to uplift and empower women-led business based in Hawaii. Participants will receive $20,000 grants, a 4,000 care stipend, networking retreats, and weekly educational workshops covering topics such as business strategy and implementation, branding, marketing, and pitching.

How to apply: Find out all the application details and eligibility requirements at the FoundHer website.

12. BMO Celebrating Women Program

Led by BMO Banking, the BMO Celebrating Woman grant program is designed to help women business owners succeed and make financial progress by offering $10,000 grants. You don't have to be a BMO's  client to apply; however, your business must operate in one of the 24 eligible states. You can find the full list of requirements on the program's FAQ page.

How to apply: When opened, application details will be available at the BMO website. 

13. Nase Growth Grant

The National Association for the Self-Employed (NASE) awards $4,000 in Growth Grants to its associates, men and women, who own small businesses. Although it's not exclusively for women, these grants can help you significantly grow your business, whether it's for advertising and marketing, hiring employees, or expanding facilities.

How to apply: You must be a NASE member. Each membership tier has different annual fees, ranging from $25 to $120, and your tier will determine when you can apply. Find more details on the small business grants and scholarship section at their website.

14. Halstead Grant

If you're a small business owner in the silver jewelry industry, the Halstead Grant is designed just for you. The winner receives a $7,500 startup grant plus a $1,000 Halstead gift card. Finalists also receive a small grant of $1,000 and a $250 Halstead gift card.

How to apply: You'll need to download the application form at the application page and answer 15 business-related questions. You'll also be asked to submit a design portfolio.

Federal small business grants for women

If you don't fit the criteria for a private small business grant, you can try applying for a federal grant. However, be aware that governmental opportunities can be just as competitive, if not more. Plus, federal grants are “not always specialized for women,” Shepherd says. See the options below:

15. Grants.gov

Grants.gov is a federal database for finding grant opportunities with federal agencies. While it's not exclusive to women, it offers a variety of opportunities to secure free grants to start a business—or grow one.

How to apply: For in-depth information about the application process and eligibility criteria, access the Grants.gov website.

16. Small Business Innovation Research and Small Business Technology Transfer

The Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs are run by the Small Business Administration (SBA). These programs provide federal  grants for businesses that focus on research and development.

How to apply: Check out the SBIR website. You'll find a menu that leads to pages with full explanation of how to apply, eligibility, and contact information.

Alternatives to small business grants for women

Since small business grants, whether private or federal, are usually limited, very competitive, and come with specific requirements, you might want to consider other forms of funding. Here are some alternatives:

Small businesses loans for women 

You can apply for small business loans at banks, credit unions, and online lenders. Criteria may vary according to the institution you choose—some may require a high credit score or a minimum annual revenue, for example.

“I recommend starting with a business loan marketplaces like Lendio. One application and you can see what types of business loans you may be eligible for and with what terms,” Shepherd says. “This is a great step even just to get a taste of what funding is available out there. Once you do that, you can run the numbers and make a plan for making this type of funding a reality.”

SBA Loans

The Small Business Administration offers loans to entrepreneurs starting or expanding their businesses. A popular option for small business owners is the SBA Microloans that provide $50,000 or less. All SBA-guaranteed loans have competitive terms and unique benefits, such as lower down payments and flexible overhead requirements.

Business line of credit

Another alternative to small business grants is a business line of credit. This is ideal for covering gaps in cash flow and for business owners who need rotational access to funds, rather than a one-time financing option. However, you'll need to repay the debt as you go.

Business credit card

Business credit cards aren't direct financial funding, but they can be used to cover expenses like equipment and materials. Plus, some businesses credit cards offer a handful of benefits, such as cash back, expense management, and loyalty points.

Frequently asked questions

How can a woman start her own business?

If you're planning to start a business, it's wise to create an initial business plan, using existing businesses in the same sector as benchmarks. Use the internet in your favor to find resources and information. 

“Don’t be afraid to look for private grants and funding, but if needed, look into business and personal loans to get the ball rolling,” Shepherd says. “Write up a detailed business plan, down to suppliers, manufacturers, marketing, etc.”

However, don't get stuck in the planning phase for too long. There will never be a perfect time, and waiting for it can hold you back. “My best advice for women looking to start their own business is to start now. Do it. Just go for it,” she says.  “The time is now, and the resources are widespread.” 

Where women business owners can find resources?

In the U.S., you can find state and municipal support for women-owned businesses—or any business. Here are some examples:

• Women's Business Centers: There are 100 Women Business Centers spread all over the country. They work in partnership with the SBA and you can find the closest center to your address at their website.

• Small Businesses Development Centers (SBDC): Also working with SBA, the SBCDs offer counseling and training to small business owners and pre-venture entrepreneurs for free.

• Minority Business Development Agency Centers (MBDA): The MBDA exists to help minority small business owners secure financing, contract, and develop a business strategy. You can find the contact information for each state MBDA center on their website.

• State Chamber of Commerce (COC):  The COC can help you secure grant opportunities for small businesses. You can find your state or metropolitan area's Chamber of Commerce at their directory.

How to apply for a women's small business grant

The application process for small business grants for women varies depending on the private or federal institution offering the award. Each has its own set of eligibility and evaluation criteria. Always check the institution's website or grant application page for in-depth information.