• Application process

  Applicants for Amber grants must complete an application outlining their business and goals. The $15 application fee may be paid using a credit card or PayPal account. An advisory board selects award recipients. Applicants are automatically eligible for other grants administered by WomensNet.

2. IFundWomen Grant

IFundWomen is an online marketplace where women entrepreneurs can seek funding for their businesses. The database includes multiple grant opportunities with varying criteria, funding amounts and deadlines. Using the business’s information and partner’s grant criteria, the system determines which grants a business is eligible for and sends a notification to the business owner.

• Application process

  The Universal Grant Application is always open. When grants become available, you will be notified if your business matches the funding organization’s criteria.

3. National Association for the Self-Employed (NASE)

NASE grants are available to all small business owners, not just women. Applicants must be members of this organization in good standing. The Growth Grants awarded range up to $4,000 per business. Grants cannot be used to pay debts, rent or mortgages; recipients should document how they use the funds.

• Application process

  Applicants must provide a business plan and a statement of grant use. Members may apply online after logging in on the NASE website. Grant applications are reviewed quarterly, depending on when the application is received. Applications received in:

  • January through March will be reviewed in April

  • April through June will be reviewed in July

  • July through September will be reviewed in October

  • October through December will be reviewed in January 

4. Freed Fellowship Grant

Freed Fellowship offers the chance for applicants to get $500 in funding alongside free mentorship as well as entrance into a $2,500 end-of-year giveaway. The organizer will review your application and choose recipients that adeptly describe their business’s unique selling point in the market as well as how it generates revenue.

Award recipients also get a one-year free membership to the Freed Studio, a community of small businesses that encourage each other in their processes and strategies.

• Application process

  Both men and women are eligible to apply for the grant, which awards business owners monthly. You can enter through its online application by answering questions about your business.

5. HerRise Micro-Grant

The HerRise Micro-Grant is offered by the Yva Jourdan Foundation, a HerSuiteSpot non-profit. Through this organization, donors and sponsors contribute money to women of color entrepreneurs needing capital, coaching and community. Every month, a $1,000 micro-grant is awarded to one female business owner of color. Past recipients have used grants to purchase business equipment, marketing, website creation and more.

• Application process

  To apply, complete the application by the last day of the month. You’ll also need to submit your business plan and pitch and pay a $10 administrative fee for submitting an application.

6. She’s Connected by AT&T

She’s Connected by AT&T is a community for women-owned businesses. The platform offers one winner a $50,000 grant, a year of AT&T service, a new device and a feature in an episode of She’s Connected by AT&T. The #She’s Connected series highlights women in sports and business to increase visibility and drive gender equality. To be eligible for the grant, businesses must be women-owned (either solely or a majority), have less than 50 employees and be registered in the U.S.

• Application process

  You can apply online for the grant. Applications for 2024 were open from March 31, 2024, to July 10, 2024. The application process involved two essays detailing the mission of your business and how it embodies AT&T’s values.

7. Galaxy Grant

The Galaxy Grant is a program launched by the nonprofit Hidden Star. The program’s focus is to ensure the success of women or minority entrepreneurs by awarding the winner a $4,250 grant. When referring a friend, your chances of winning are doubled since you also win if your friend wins.

• Application process

  The Galaxy Grant is currently accepting applications until September 30, 2024. You can enter by filling out its online entry form.

8. The Halstead Grant

The Halstead Grant is available to designers making silver jewelry, awarding one outstanding recipient each year. The grant is designed to boost jewelry makers’ career trajectories. The grand prize winner receives $7,500 in grant funding and a $1,000 Halstead gift card. All finalists receive a $1,000 cash award as well as a $250 Halstead gift card.

• Application process

  Applicants will answer questions about their business in The Halstead Grant’s online application. Applications are accepted at any time, with the final deadline for that year’s award landing on May 1.

9. Cartier Women’s Initiative

Women selected to receive a regional award from Cartier Women’s Initiative can see large-dollar capital funding of up to $100,000 and enjoy other kinds of support, including media exposure, access to an exclusive network of other women entrepreneurs and intensive training programs.

To be eligible, businesses must be owned by women, for-profit in nature, generating revenue and in early-stage development (years one to six of operations). Other eligibility criteria are listed here.

• Application process

  Applicants submit a resume, pitch deck, business registration document and a one-minute video. Women are selected annually from nine regions worldwide to participate in the Cartier Women’s Initiative fellowship program. Awards are made in spring. Applications for the 2024 awards are now closed. For 2025, there will be an Impact Awards addition, and only former Cartier Women’s Initiative Fellows are eligible.

10. Women of Color Grant Program

The Tory Burch Foundation offers capital funding for small businesses, including in partnership with the Fearless Fund for Black women small business owners. Up to 75 grants are awarded annually with the Fearless Fund and range from $10,000 to $20,000. To qualify, businesses should be one to five years old and generate at least $100,000 in annual revenue.

• Application process

  Capital programs for women entrepreneurs are available online, with details and a “funding finder” tool available on the foundation’s website. Fearless Fund applications for 2023 are closed, so check back in 2024.

11. Enthuse Foundation

Designed to support women entrepreneurs in the food, beverage or CPG industry, the Enthuse Foundation holds a pitch competition every year. Along with cash prices, businesses can win business services and coaching.

• Application process

  To apply, you’ll need to meet the eligibility requirements, travel to the live in-person pitch night and fill out an entry form. The application form is open from July 29, 2024, to September 23, 2024.  The in-person pitch event takes place on November 14, 2024.

12. Fearless Strivers Grant

In collaboration with Mastercard, the Fearless Fund created the Fearless Strivers Grant to improve access to venture capital funding for small businesses. Four black women-owned small businesses will each receive a $20,000 grant, as well as digital tools and mentorship to encourage the growth of their business. Businesses with annual revenue of $3 million or less are eligible to apply.

• Application process

  Applications are accepted online during four separate entry periods, with one winner selected for each period. The current application period opened on August 1, 2023, and the closing date has not been announced.

13. High Five Grant for Moms

The Mama Ladder, in partnership with Proof, Belly Bandit and Caden Concepts, launched the High Five Grant for Moms in 2018. The goal was to create an opportunity for women business owners who are caregivers, including stepmoms, first-time expecting moms and foster moms, to secure funding to grow and expand their businesses. To date, $32,000 has been awarded, and an additional $40,000 in grants will be awarded this year. Eight small businesses will be selected, and the public will vote on the top three winners, who will receive a $10,000, $5,000 or $2,500 grant.

• Application process

  Applications can be completed online via The Mama Ladder website. The grant application opens September 1, 2024 and closes September 30, 2024.

14. Backing the B.A.R. Grant

In an effort to support Black-owned businesses operating in the hospitality, sales and beverage alcohol service industries, the NAACP and Bacardi are offering the Backing the B.A.R. Grant. To date, this initiative has awarded more than $350,000 in grants, support, education, support and entrepreneurship solutions. Black female owners of bars, lounges, restaurants, liquor stores and nightclubs receive a $10,000 grant, mentorship and educational support to help them grow their businesses. To be eligible, businesses must be at least 51 percent Black-owned and currently have or be seeking a liquor license.

• Application process

  The 2024 application closed on May 24. A Hello Alice account is needed to apply.

15. Comcast Rise Grant

The Comcast Rise Grant is part of an initiative launched by Comcast to support the growth of small businesses focused on diversity, inclusion and community investment by awarding 500 grants, each totaling $5,000, to 100 businesses in five cities. Winners also receive business consultative services and mentoring, educational resources, creative media services and a technology makeover. Businesses must have been in operation for at least three years and have no more than 100 part-time or full-time employees. Note that certain types of businesses are ineligible, including nonprofits and tobacco/vape retailers or manufacturers.

• Application process

  The 2024 application period opened on May 1 and closed on May 31, 2024. Small businesses in Atlanta, Houston, Jacksonville, Richmond and Southern Colorado were eligible to apply. Businesses that are selected to win a grant package will be notified in August. Dates for 2025 have not been announced.

16. Beyond Open Small Business Grant

The Beyond Open Small Business Grant provides capital to businesses owned by a woman, minority, veteran, LGBTQ+ individual or persons with a disability that is located within Charlotte’s Corridors of Opportunity. Administered by FFTC Partners for Empowering Communities (FPEC) and supported by the Wells Fargo Open for Business Fund, this specific program has the goal of awarding a total of $15 million in grants, $5 million per round, with Round 2 winners receiving between $10,000 to $150,000 per grant. Funds can be used to cover the cost of inventory, real estate, equipment and technology, but they cannot be used to cover the business’s operational expenses.

• Application process

  Round 2’s application period closed in August 2023. Applications for Round 3 are set to open on August 5, 2024, and close on August 30, 2024. You can sign up to be notified when the application opens.

17. Fund Her Future Grant

Fund Her Future is created by Block Advisors by H&R Block. The grant is a part of H&R Block’s commitment to support 500,000 U.S. small businesses by 2025. The grant program aims to help support and empower women-owned businesses, especially those focusing on making a difference in their community, as access to funding and resources is a challenge many face. One winner will receive a small business grant of $50,000, with four additional winners receiving $12,500 each. Along with the grant money, winners will receive a year of services from Block Advisors, including small business taxes, bookkeeping, payroll and business structure analysis.

• Application process

  To apply, businesses need to be at least 51 percent female-owned, and owners must be at least 18 years old and living in the U.S. The business also must plan to continue operating for at least a year following a grant award. You can apply online. Applications closed on May 26, 2024.

Bankrate insight

Check back often for new and updated grant opportunities. And for more information on grants for underserved communities, check out the following guides:

• Business grants for Black women

• Business grants for minorities

• Business grants for veterans

Additional resources for women

Because the federal grant application process is so competitive, you may find applying for funds through state and local agencies to be more approachable.

1. State chambers of commerce

Your state chamber of commerce likely has grant funding opportunities available and may even earmark some of these funds for minority business owners, including women. In addition, these organizations are interested in growing local businesses, so building a relationship with them is a good way to explore other funding opportunities.

• Application process

  To begin looking at these opportunities, connect first with your state or metropolitan area’s chamber office. Inquire about grant funding for women small business owners in your area.

2. Women’s Business Centers

The SBA supports more than 100 Women’s Business Centers (WBCs) nationwide. These community organizations exist to help women develop and grow small businesses. Because women continue to face unique challenges when securing small business funding, these centers provide counseling, business training, federal contacts and more.

• Application process

  Your nearest WBC can connect you with local opportunities best suited to your business. To search for a center closest to your zip code, visit the SBA location finder and narrow your search to Women’s Business Centers.

3. SCORE

SCORE is a nonprofit organization and SBA partner that provides education and mentoring to small business owners. Business owners can participate in free training and workshops focused on the many aspects of owning a small business. They can also match with a mentor who will guide them on their journey through entrepreneurship.

4. CDFIs

Community Development Financial Institutions are focused on promoting economic development in underserved communities. The CDFI designation is provided following the receipt of a certificate from the CDFI Fund, which is managed by the U.S. Department of Treasury. Since CDFIs offer products and services to business owners who may not be approved for funding through traditional financial institutions, many business owners in low-income communities can get the funding they need to cover their business expenses. This includes:

• Business loans for minorities

• Business loans for women

Alternatives to small business grants

Grants are a competitive funding option, so not every small business that applies will be awarded funds. Luckily, there are alternatives you can consider. Although they require repayment, funds are guaranteed if you qualify and are approved.

• Business loans: Business loans are available through banks, credit unions and online lenders and offer funding of up to $5 million for a variety of purposes, including growth and expansion or the purchase of inventory, equipment or real estate. With this option, businesses can establish and build credit, but the available loan amounts, interest rates and fees are determined by lenders, so the overall cost will vary.

• Business credit cards: Small business credit cards function similarly to personal credit cards, allowing businesses to make purchases, track expenses and build credit. Businesses can spend up to the limit and pay off the balance in full to avoid paying interest. Most cards offer rewards and perks, but interest rates can be high with this funding option, and a personal guarantee may be required from the business owner.

• Business lines of credit: By providing a predetermined amount of funds that a business can access as needed, business lines of credit help businesses better manage daily expenses. It operates like a revolving credit account, allowing businesses to borrow, repay and reuse funds. With interest-only payments and lower interest rates compared to credit cards, businesses can keep borrowing costs low.

• Microloans: Microloans, often available through the SBA and nonprofit organizations, provide small-scale funding to businesses. These loans typically range from $500 to $50,000 and can be used to start or expand a business or cover various expenses.

Bottom line

Small business grants are a powerful tool for business owners looking to grow and expand without the added stress of paying funds back with interest. If you can wait for funding and have a compelling business model or story, grant funding can be a great way to get operations off the ground.

Once you have chosen a grant, understand the eligibility requirements before applying. These funds often come with specific rules and qualifications.

Frequently asked questions

• How can female entrepreneurs get funding?

  Grants for women-owned businesses offer one avenue for female entrepreneurs to obtain funding. Other ways female entrepreneurs can seek funding include business loans, lines of credit and microloans.

• How do you qualify for a small-business grant?

  Every small business grant has its own requirements, which the funding organization determines. Some organizations may only require an application, while others may require an application, interview and presentation.

• What are the disadvantages of grants?

  Disadvantages of grants include limited availability and intense competition. Additionally, grants do not help build business credit and may not cover the full funding needs.