What are the procedures for a women to get a grant?

Question

Does anybody know a website or do you know the procedure that I will have to under go to get a grant for a small business?...for women?

Answer 1

If you qualify there are a very few grants available for women or minorities.  Competition is tough, and they're generally fairly small.  Before you apply you will need a business plan, just as if you're applying for a bank loan, and you MIGHT have to go that route anyhow.  

Do you have any experience, particularly management experience, in the type of business you want to start?  If not, can you get training in it?  Do you have a professional appearing business plan?

Before you go any further, I STRONGLY recommend you contact the Small Business Development Center (at your local community college) and talk to them; the counseling is free.  The counselors will also know if there are any grants available for women in your area.  

Then sign up for the NxLevel Entrepreneurial program...  it's a 12 session course that walks you through the ins and outs of starting or growing your business, and as part of that you will write a business plan.  At the end of the class your plan will be reviewed by a lending professional, and will be critiqued, telling you the strong points of your plan AND the weak points.  

There is a cost for the NxLevel program but it’s a lot cheaper than losing your investment.

Even if you hire a professional to write your plan, you should still take the NxLevel course.  It saved me from going into a business that would have failed within a year or so, taking my investment with it.  

Business plans may be a pain in the butt to prepare, but without one, your business is doomed to failure.  To start with, you won't know what your startup costs are going to be, what kind of income to expect, what your ongoing expenses are, who your competition is, and even whether or not you can make a profit.  Without a GOOD business plan, you will not be able to get a grant or a business loan to get your business off the ground.

Answer 2

It is hard to find grants to start a business. Unlike the myths that some perpetuate, federal government and even private foundations hardly give grant money for starting a for-profit business.

One possible exception is for companies developing or exporting agricultural goods, including food and forest product. Another exception could be the Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR)  programs http://www.sba.gov/aboutsba/sbaprograms/... , which fund the research and development of technological innovation that meets specific government needs.

Your best bet actually will be from the states if they offer grant programs for women (or any other special interest groups -- minorities, women, disabled, veterans, etc). Or check with non profit organizations, particularly women organizations if they offer grants. Examples include

Iowa Women's Foundation http://www.iawf.org/

New Mexico Women's Foundation http://www.nmwf.org/guidelines.html

Even SBA does NOT give out grants. From the SBA website http://www.sba.gov/mostrequesteditems/CO...

"The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. (See http://www.sba.gov/financing for more information) While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments."

Nonetheless, you can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.grants.gov - these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support a for-profit venture.

Here is a listing of federal grants for small businesses. See if there is any available for individuals for starting a business -- THERE'S NONE.

http://12.46.245.173/pls/portal30/CATALO...

Most of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT - Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program

Grants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women's Business Ownership Assistance that are given to those who will create women's business center that will train women entrepreneurs