Women Business Grants

For those female entrepreneurs in our society seeking women business grants, you'll soon learn that it takes a lot of research and stick-to-itiveness to find and apply for what monies are available to help you start or expand your business.

Should You Look for a Grant or a Loan

The crux of the matter is that if you turn to the government for grant assistance, most women business grants and business grants in general are issued to non-profit businesses, or are made available to businesses that are developing or have plans to develop new technology-based products. If your business plan does not fall into one of these two categories, chances are what you really should apply for is a small business loan rather than a grant.

The Small Business Administration (SBA) also states, "[…] that the U.S. Small Business Administration does not offer grants to start or expand small businesses, though it does offer a wide variety of loan programs." In the case of the SBA, their business grants go to non-profits, intermediary lending institutions, and state or local government that provide:

• Small business management
• Technical assistance
• Financial assistance

If you take a look at the business grants available at grants.gov, you'll see that they fall into these categories. Armed with this information, you can decide whether you should be applying for a business grant or a loan.

Resources for Non Profit Grants

• USA.gov for Nonprofits
• Non-Profit Grants
• Grants and Non-profit Info Center

Information for Small Business Development Grants

• HUD Grants
• NASE Business Development Grants
• Value-Added Producer Grants
• Current Funding Opportunities]

When Women Business Grants Are Not Available

Where do women turn for financial help when they had hoped to procure a business grant but find that option is really not an option after all? First of all, don't despair. Women entrepreneurs still have options. You just need to know where to look to find what funds are available through government loans and alternative financial resources.

• Government Loans for Small, Women-owned and Minority Businesses – This resource provides a summary of individual loans and who is eligible. Information includes the following loans:
  • 7(A) Small Business Loan
  • Microloan Program
  • Business Physical Disaster Loan
  • CDC 504 Program
  • Economic Injury Disaster Loans
  • Equity Investment (SBIC Program)
  • Indian Loans Economic Development
  • Military Reservist Economic Injury Disaster Loan Program
  • Short-Term Lending Program

Additional SBA Loan Programs

The SBA's site offers a financial section that includes information on its various loans and other resources for women and others who run or hope to operate a small business. Among them you'll find:

• Office of Women's Business Ownership Entrepreneurial Development: Women (especially those who are disadvantaged either socially or economically) are presented with training and counseling to help grow their business.
• Export Express Loans: Created to help small business develop or grow export markets.
• Export Working Capital: For businesses that create export sales and have the need for additional funding to support these sales.
• CAIP Program: For companies that do business in parts of the country negatively affected by NAFTA.

The Bottom Line

While it is true that the government offers millions of dollars in grants for women business owners, the hard fact is that most of those grants don't apply to the kind of business you want to open or expand unless it deals with new technology-based products or is a non-profit.

If your business does fall into one of these categories, you'll want to write a grant proposal to apply for the business grant of your choice. The advantage to obtaining a grant is that your current income and credit is not usually taken into consideration and the money does not have to be paid back.

On the other hand, if your business does not fit within the parameters of the business grants available, and you've decided to apply for a government loan instead (known as an SBA loan), the loan has to be paid back.

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