Business Start Up Grants for Women Entrepreneurs

Business start up grants can help in raising funding, that otherwise can be a tedious affair for most of us, but particularly for women entrepreneurs who are struggling with small businesses. Many times these women have done the route of the conventional banks and traditional financing institutions only to be turned away because they have not been able to meet the lending criteria required. Unfortunately a large number of these women never know that there are grants available to them from both federal government and local state grant agencies. Business Grants are often overlooked as a source of funding for them.

Women who find themselves in the position of either needing business start up capital to start a new business venture, or to fund an existing business, should seriously consider taking the time to explore business start up grants through the various local state and federal government agencies. To make it easy for women to discover their eligibility, there are now several online agencies which streamline the whole grant process.

The Small Business Investment Company (SBIC) Program is a unique public/private partnership that has provided $55 billion in financing to more than 106,000 small U.S. companies since the program’s creation in 1958.  SBICs are privately organized and managed venture capital firms licensed by the U.S. Small Business Administration (SBA) to make equity capital or long-term loans available to small companies. These small companies often require financing in the critical $250,000 to $5 million range that is generally not available through banks or non-SBIC private equity firms.  SBICs fill that gap, supporting thousands of U.S. small businesses each year.

From The Small Business Administration: All businesses require some form of financing. An integral component of starting a successful business is raising sufficient capital. There are many challenges here, but numerous resources are available to help you.

To determine your startup costs, you must identify all the expenses your business will incur during its startup phase. Some of these expenses will be one-time costs, such as the fee for incorporating your business and the price of a sign for your building. Some expenses will be ongoing, such as the cost of utilities, inventory, insurance, etc.

When applying for business start up grants be sure to have all the information necessary to help you wind your way through the proper forms. Some of this information will include your financial predictions, a business plan, a marketing plan, and some personal information.

Know Your Options Begin your search for financing by taking the SBA’s online course on How to Raise Capital