Women entrepreneurs in today’s business world

2 Responses to “R there really gov’t grants for small business for minority women?”

  • Ruptured Duck says:

    There are no grants for a for profit business unless you are opening a daycare. If you need money, you will need to apply for a loan. No lender will talk to you unless you provide them with a valid business plan. Go to http://www.sba.gov , http://www.score.org or http://www.bplan.com for sample business plans and instructions on how to write a business plan.

    Then, go to http://www.score.org/ and in the upper left hand corner, enter your zip code. On the next screen, you will get information on the nearest SCORE chapter. Call them and arrange for a free meeting with a SCORE counselor to review your business plan and discuss various loan options available to you.

    SCORE is a nonprofit association dedicated to entrepreneur education and the formation, growth and success of small business nationwide. SCORE is a resource partner with the U.S. Small Business Administration (SBA).

    SCORE has 389 chapters in locations throughout the United States and its territories, with 10,500 volunteers nationwide. Both working and retired executives and business owners donate time and expertise as business counselors.

  • imisidro says:

    There are grants for minorities and for women — but not really for starting a business

    From the government grants database Catalog of Federal Domestic Assistance CFDA http://www.cfda.gov here is an example of a grant for minorities:

    Applicant Eligibility
    Applicants for this program are Federal, State or local government entities or quasi governmental entities, American Indian Tribes, colleges, universities, nonprofit organizations, and for project organizations.

    Here’s an example of grants for women:

    Applicant Eligibility
    Private, nonprofit organizations having experience in effectively training and counseling business women. Public educational institutions and State and local governments are not eligible.

    Go to CFDA — you will find that most grants are given to local governments, states, non profit groups or organizations involved in training or other similar activities. Very very rarely for individuals.

    And for businesses, only for 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/sbir/index.html , 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/CON_FAQ2.html

    “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.”

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