If you have been looking for business grants for single mothers, then we have you covered in this article.
The idea of starting a business and being self-employed is exciting. You get to call all the shots, set your hours, and set up shop anywhere you want.
However, as any entrepreneur will tell you, running a small business is not easy work. It can be downright stressful at times!
How much more, as a single mother?
If you are considering starting a business but need some extra help funding it because of other obligations (such as having children), keep reading for more information about finding grants that may work for your situation.
Why You Might Need a Grant
A grant is a financial award that does not have to be repaid. Grants are typically awarded to students, schools, or organizations for funding research projects and other activities.
In the U.S., grants come from both public and private sources; federal grants are offered by the government while state and local grants are issued by state governments through their respective agencies.
Private foundations also offer grant funding to individuals with specific ideas on how they would like their money spent—in other words, they want you (the recipient) to decide what project you’d like to complete with their money!
If you’re looking into starting your own business, receiving some grant funding in advance could help cover startup costs
such as buying equipment or paying for training programs that teach new skills needed for running an operation successfully (e-commerce marketing services).
You might also apply for grant money if you’ve already started your own business but need additional capital to create marketing materials
such as brochures or flyers announcing its launch date–or even just maintaining what’s already been created so far!
How to Get Started
Start by asking around. Start with your local community and see what local organizations or city offices can help you.
If you’re not sure where to begin, consider looking at federal websites. You can also check out state websites and county websites as well.
Where to Begin Looking
The first thing to do if you are looking for grants is to make a list of the type of organizations that might be able to help you. Here’s a short but not exhaustive list:
- Local community organizations and social services
- Government funding organizations, such as the United States Department of Agriculture (USDA), the National Endowment for the Arts, or your state’s equivalent organization.
- Non Profit Organizations that focus on single mothers and children, including those focused on health care and legal assistance.
For example, many national foundations support women-run shelters or provide housing assistance for single mothers who have lost their homes due to domestic violence or other circumstances.
- The bank where you keep your savings account—many banks offer special financial resources like low-interest loans or small business loans through their local branches and online services (look up “small business banking” on your bank’s website). If there isn’t anything specifically geared toward single moms but they offer general support for entrepreneurs with low incomes, this might be worth pursuing as well!
The List of Business Grants for Single Mothers
National Association For the Self-Employed (NASE) Growth Grants
To be able to access this grant, you will need to be a member. And that costs about $120 per year.
This is because every year NASE offers grants to over 50,000 of its members and has given over a million dollars since its inception.
To qualify, you will have to present a resume and your business plan detailing exactly how the grant will help your business.
Applications are submitted at their website.
Eileen Fisher Women-Owned Business Grant Program
Eileen Fisher started this program in 2006 to aid single mothers in their growing businesses.
Every year, lucky single mothers receive anywhere between $10,000 to $40,000 to fund their businesses.
To qualify for this grant, you must own at least 51 percent of your business which must be more than 3 years old, with annual revenue of not more than a million dollars.
Applications are submitted at their website.
Amber Grant
In 1998, the Amber Grant program was founded by WomensNet in remembrance of Amber Wigdahl, a young lady who passed away at the age of 19 before she could pursue her business goals.
Since then, 12 women-owned enterprises get awards from the Amber Grant Foundation annually, one per month.
The maximum reward of $25,000 is given to one business after the year, while the monthly awards are $4,000 each.
There is no expectation of restitution, notwithstanding the very minor award amounts.
Additionally, any sum might be highly beneficial in helping female entrepreneurs launch their businesses.
For every month of the year, the application deadline is the last day of the month.
To apply, you must pay a $15 fee. You can visit their website.
Cartier Women’s Initiative Award
The goal of the Cartier Women’s Initiative Awards is to support female business owners who own organizations that have the potential to see rapid future growth.
Applications are received for the grant program, and 21 finalists are selected.
Seven winners—one female entrepreneur from each region of the world—get $100,000 in prize money, while the remaining 14 finalists—two runners-up from each region—each receive $30,000 in prize money.
Along with a prize, each of the 21 finalists receives a scholarship to the INSEAD Social Entrepreneurship Executive Education Programme and continuous assistance for their company’s continued expansion.
Your company must be for-profit, in its early stages, producing income, and meeting at least one of the Sustainable Development Goals to be eligible.
You can visit their website.
The Halstead Grant
The Halstead Grant is a small-enterprise grant program that was established in 2006 and is targeted toward female business owners who own firms in the jewelry sector.
The Halstead Grant is given to upcoming American female jewelry designers each summer.
Being a student or experienced jewelry designer seeking a full-time career in metal jewelry creation, having a line of metal jewelry that contains a considerable amount of sterling or fine silver, and having a unified collection of metal jewelry for resale are all prerequisites.
Candidates must also be citizens of the United States if they intend to sell on a national scale.
A $7,500 cash scholarship and $1,000 in Halstead jewelry supplies are given to the winners.
You can visit their website.
IdeaCafe Grant
The IdeaCafe Grant awards small company owners, particularly single mothers, a $1,000 microgrant each year.
The majority of the winners have been female entrepreneurs, even though the money isn’t exclusively for them.
Meanwhile, those who have a business idea but have not yet begun to pursue it are also eligible for this incentive.
You can apply here at their website.
GrantsforWomen.org
This is a website that helps you look for grants available for women. There are also scholarship grant opportunities as well.
You can visit the website here.
FedEx Small Business Grant
Although FedEx emphasizes that it equally distributes awards to men and women, the Small Business Grant is not just for women.
There are a total of 12 winners: one grand prize winner receives $50,000 in addition to $7,500 in FedEx office services; one silver prize winner receives $30,000 in addition to $5,000 in FedEx Office services, and ten bronze prize winners receive $15,000 in addition to $1,000 in FedEx Office services.
You can visit their website here
The Nav grant is accessible to businesswomen and men alike, and for each round’s top prize, a $10,000 business grant is awarded.
Small enterprises that are expanding and might need the money to take the next stage in their expansion are helped by the grant.
The Nav Facebook page is where applications are received.
Grants.gov
This is a government website that collects all the federal grants and compiles them in one place for you to research.
Visit the website here.
The Girlboss Foundation Grant
Founded in 2014 by Sophia Amoruso. The foundation offers grants to female entrepreneurs twice a year.
Each person receives a grant of $15,000 in funding but only to those in the fields of design, fashion, music, and art.
Visit their website here
Keep Trying
The best way to get a grant for single mothers is to keep trying. Don’t give up! Don’t be discouraged by people who tell you that you can’t achieve your goals, or by those who try to discourage you from pursuing your dreams.
You’ll need confidence, enthusiasm, and passion to succeed at getting the money you need so that you can provide for your family.
Conclusion:
It’s not easy to get ahead as a small business owner, but it is possible. Keep looking for grants and applying for them, even if you don’t think you qualify.
You can find the money when you are committed enough to keep trying!