Women entrepreneurs face a lot of obstacles in getting their businesses started, particularly when it comes to raising capital. That’s where grants can come in handy.
As the website Allbusiness.com notes, you don’t have to pay back grants or give up equity in your business the way you do with loans and investors.
Writer Rieva Lesonsky, CEO of GrowBiz Media, lists five grants for women entrepreneurs along with links and information about what they’re for.
“Of course, that doesn’t mean grants are ‘no strings attached,’” she writes. “In fact, most grants typically come with quite a few strings. Similar to scholarships that are given to students to help finance their educations, grants can come from a wide range of sources…”
Still, for the prospect of getting what is basically free money, they’re worth a look. The five grants Lesonsky highlights are:
- Amber Grants, which honor the memory of a young woman who died at age 19, before achieving her dream of becoming an entrepreneur;
- The Cartier Women’s Initiative Awards, which is open to women in the initial stages of developing their businesses;
- org, which offers information about obtaining grants and a databaseof grants for women;
- The Tory Burch Fellows, which is founded by fashion entrepreneur Tory Burch and chooses 10 Fellows to receive a $10,000 grant; and
- The Open Meadows Foundation, which gives $2,000 to organizations that benefit women and girls and promote gender, racial, and economic justice.