Single Mom Small Business Grants are generally hard to come by; partly because of the marginalization of women when it comes to business. Even though the restrictions are gradually coming off, women or single moms often have to go the extra mile in trying to access most grants.
I cannot overemphasize the importance of funding small businesses, especially when it comes to single moms. It’s no news how financially demanding it is to raise kids and fund small businesses in their early stages.
On that note, the government agencies, and private and non-profit organizations mentioned in this post literally go out of their way to provide grants for single moms and female entrepreneurs on a regular basis.
Single Mom Small Business Grants
The list below covers the most popular business grants for single moms in 2023.
#1. National Association For the Self-Employed (NASE) Growth Grants
NASE is a program that focuses on providing grants annually to its 50,000 members, single moms inclusive. So it invariably implies that before you would be able to access this grant, you need to become a member.
However, basic membership in this program costs $120 annually. Besides access to small business grants, NASE provides her members with other services like legal advocacy, discounts on products, and networking resources.
Furthermore, NASE has successfully awarded grants prizes worth over $1 million to her members since 2006.
Requirements
To qualify for small business growth grants from NASE as a Single Mom;
- You need to submit a resume and business plan, demonstrating how the grant money would aid your business.
Benefits
Access to multiple grants worth $4,000 each.
How to Apply
Applications are received online on NASE Website
Read Also: List of high paying home businesses women can start with low capital
#2. Eileen Fisher Women-Owned Business Grant Program
Since the inception of this program in 2006 by Eileen Fisher, a good number of single moms have benefitted from the grant.
Eileen Fisher Women-Owned Business Grant Program annually generates total revenue of $100,000 to 10 small businesses owned by women. So a total of 10 women get $10,000 each to fund their businesses every year.
However, the program narrows its search to businesses with positive environmental and social impacts.
Requirements
- You must own at least 51% of the business.
- Your annual revenue must not exceed $1million.
- Your business must have been in existence for at least three years.
How to Apply
Visit the Official Website to apply online.
Read Also: 5 Rising Women In Business To Watch Out For In 2020 [With Business Details]
#3. Amber Grant
Amber Grant was initiated in 1998 by womensnet.com in memory of a young Entrepreneur – Amber Wigdahl- who died at the age of 19. This grant aims at inspiring women and single moms alike.
Furthermore, the organization awards a $2,000 Amber Grant to qualified Beneficiaries monthly. Also, an additional $25,000 is assigned to one of the monthly recipients at the end of the year.
Similarly, all grant recipients are featured on www.womensnet.com, their Facebook page, and the email list.
Eligibility
- You must pay an application fee of $15
How to Apply
- Tell your story in written format and submit to womensnet.com. However, applications close every last day of the month.
#4. Cartier Women’s Initiative Award
Cartier Women’s Initiative Award is another single mom small business grant that awards 21 female Entrepreneurs once a year. They beam their searchlight on businesses with a distinct level of potential to grow.
However, to be taken into consideration, businesses must be at their early stages (between 1-3 years old).
More Also, the top 7 finalists win $100,000 each, plus one-on-one mentoring from a business expert. The other 14 applicants left, winning $30,000 grant money.
Also, these grant awardees all receive free access to networking opportunities, business coaching, and entrepreneurship seminars.
Eligibility
- Businesses should be at an early stage, specifically between 1-3 years old.
- Businesses should be generating reasonable revenue though not profitable.
How to Apply
Follow the application instructions on Cartier Women’s Initiative Website.
#5. The Halstead Grant
This single mom small business grant was initiated in 2006 to assist female Entrepreneurs in the jewel industry.
The Halstead Grant awards funding to female jewelry businesses in their early stages.
Also, the judges subject applicants to a series of questions concerning their business strategies, plans, and goals.
Winners receive $7,500 grant money, free publicity, and $1,000 for Halstead supplies only.
However, the good news is, non-winning applicants, get professional feedback and advice from the judges concerning their business plans.
Eligibility
- Businesses should be at its early stage, specifically below three years old.
How to Apply
- Submit a portfolio containing your business goals, plans, and strategies to Halstead Grant.
#6. IdeaCafe Grant
Every year, the IdeaCafe Grant gives a $1,000 micro-grant to small business owners including single moms. However despite the fact that the money isn’t specifically for women, the vast majority of the winners have been female entrepreneurs.
Meanwhile, this grant is also accessible to persons who have a company idea but have not yet started working on it.
To apply, simply fill out the online application.
#7. GrantsforWomen.org
GrantsforWomen.org is an excellent website if you’re looking for a complete resource for business grants for women and single moms and other financial options. It’s a database of career prospects for women in a variety of fields. On this site, you can look for scholarships and grants for women, but be aware that the majority of them are not for commercial purposes.
Meanwhile, each opportunity has its own set of advantages.
How to Apply:
Use the database to find opportunities that interest you and then follow the application process.
#8. FedEx Small Business Grant
The FedEx Small business Grant isn’t specifically for women entrepreneurs. However female small business owners are urged to apply. Nicole Snow, the founder and CEO of Darn Good Yarn, was the first prize recipient of the FedEx Small Business Grant. FedEx has been providing $250,000 to entrepreneurs in the US since 2013.
FedEx awards funding to 12 winners each year. One grand prize winner will receive $50,000 plus $7,500 in FedEx services, one silver prize winner will receive $30,000 plus $5,000 in FedEx services, and ten bronze prize winners will receive $15,000 plus $1,000 in printing services.
How to Apply:
Here are the guidelines for submitting an application.
#9. Open Meadows Foundation
The Open Meadows Foundation is a grant-making organization that supports women-led programs that promote gender, racial, and economic equality. In other words, the enterprises must help women and girls, and the applicants must be women.
The grant awards $2,000 to eligible projects who have limited financial resources to help them flourish. Open Meadows exclusively accepts organizations with a budget of $75,000 or less in resources. This award is ideal for those who have recently established or are in the process of beginning a business.
However, Open Meadows is not currently accepting new applications, but keep an eye on their website for updates on when this grant will be available again.
#10. 37 Angels
While 37 Angels is not a standard grant program, it can be a great way for small businesses to get capital. For the most part, 37 Angels does not only invest in women-owned firms, but they basically work to reduce the gender gap in startup investing. According to their website, women founders make up around a third of their portfolio.
Furthermore, you can have the luxury of pitching to their network of investors after completing an application through their website (an event that happens every two months). You’ll get a funding decision in four weeks and could get up to $200,000 in funding. 37 Angels provides education and continuing assistance in addition to funds.
How to Apply:
Fill up an application on Gust, and eight entrepreneurs will be picked every two months to pitch their investors.
#11. Visa Everywhere Initiative
This small business grant is open to both male and female-led firms, including single moms. But beyond that, Visa also has a Women’s Global Edition of this competition, which awards two $100,000 prizes to two women who address a fintech and social impact challenge. Although this grant necessitates a lot of preparation, it is definitely a fantastic opportunity for women-owned fintech enterprises.
How to Apply:
Fill out an application on their website by answering a challenge question.
The prize money ranges from $10,000 to $50,000 in value.
#12. Small Business Innovation Research Program (SBIR)
SBIR is a small business research and development grant program funded by the Small Business Administration. And because these awards are offered by numerous federal entities, there are stringent eligibility restrictions. To begin, your company must be for-profit, have more than 50% ownership by a U.S. citizen, and employ less than 500 people. In other words, this grant does not necessarily target just male-owned businesses.
But more importantly, the Small Business Innovation Research (SBIR) program encourages scientific and technical innovation by allocating federal research money to small enterprises engaged in research and development with commercial potential.
How to Apply:
You can look for SBIR grant opportunities on their website and apply for them.
Benefits:
Grants start at $150,000 and can go up to a million dollars.
#13. The Girlboss Foundation Grant
The Girlboss Foundation, founded in 2014 by entrepreneur Sophia Amoruso, awards grants twice a year to female and female-identifying entrepreneurs.
Each grant recipient receives a total of $15,000 in funding. But then, grants are only available to female entrepreneurs in the fields of design, fashion, music, and the arts.
Meanwhile, creativity and ingenuity, commercial acumen and planning, and demonstration of a financial necessity are all factors that will be considered when making a decision.
Other Go-To Places for Single Moms’ Small Business Grants
The following are some popular web locations you could also find small business grant options for single moms. This includes grants from the local and state governments.
You might have more luck applying for grants at the state and local levels because federal small-business incentives are limited in quantity and typically quite competitive. While you’ll have to do some digging to find specific grant programs in your area, but here are a few places to start:
#14. Women’s Business Centers
The Small Business Administration (SBA) funds around 100 Women’s Business Centers across the US to assist women entrepreneurs with business development and financing access. Some, like the California Capital Financial Development Corp., provide money directly, while others assist you in locating small-business incentives and loans.
#15. Economic Development Administration
Every state, as well as a number of localities, has economic development resources aimed at boosting local economies. California, for example, has a number of economic development districts, such as the Superior California Economic Development District, which distributes funding to local businesses.
#16. Small Business Development Centers (SBDCs)
Hundreds of SBA-sponsored Small Business Development Centers can be found throughout the country, most of which are located at schools and universities. SBDCs provide free one-on-one business counseling, including assistance with building a business plan, market research, and funding.
Tips to Find Single Moms Small Business Grants
Although each small business grant is different and has its own set of conditions, there are a few broad steps you can take to find and apply for the grants that are most relevant to your business:
Do your Research: Our list of Federal Government grants is a wonderful place to start looking for grants that might be a good fit for your corporation.
Also, attending small business conferences and networking with industry peers might also help you learn about small business grant opportunities that aren’t publicly publicized.
Make sure you’re eligible: The majority of awards have stringent eligibility criteria. These guidelines may be based on demographics, educational feats, the number of years your business has been in operation, and other factors. Paying attention to these conditions could save you time applying for grants that aren’t a good fit for you.
Prepare your application on time: Dedicate some time in your weekly or monthly schedule to apply for business grants. No doubt, it may be difficult to find time to submit applications, but the benefits of receiving funding for your startup can be enormous. So to make your application stand out from the crowd, ensure you submit it on time.
Keep an eye on your applications: Keeping track of the grants you’ve applied for as well as any future deadlines in a spreadsheet is a terrific way to remain organized and motivated during the application process.
Keep an eye out for con artists: Be wary of grantors who want you to pay a fee or sign up for a subscription in order to receive small business grants for single moms.
Remember that putting all your eggs in one basket isn’t a wise idea: You should also look into small business loans for women, venture capital firms, women-only business accelerators, and other funding opportunities that may be available to you.
Final Thoughts
There may not appear to be many small business grants available for women who want to start or build a firm, but the choices listed above should help you get started. Plus, when you factor in state and municipal grant opportunities for women entrepreneurs, you should be able to find a substantial number of grants to apply for.
Single Mom Small Business Grants FAQs
Are Amber Grants real?
Yes, they are. In 1998, the Amber Grant was established to support female business owners. As of right now, we give away more than $30,000 every month to various grant applicants, including two $10,000 Amber Grant recipients.
Is it easier for a woman to get a business loan?
The Federal Reserve finds that enterprises headed by women are less likely than those operated by men to be granted a small-business loan. However, there are tools like government-backed Women’s Business Centers that give training to assist close the financial gap, as well as small business loans for women.
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