If you remember all the back to two weeks ago, we talked a lot about encouraging women to start businesses and presented some super cool stats from the SBA. What I found in my research for that piece was that while women own 40% of the businesses in the United States, they only obtain 10% of the capital available. According to the SBA, “women-owned employer businesses are more likely to start with less capital than male-owned businesses…Almost three-fourths (72%) of all non-employer women-owned businesses start with less than $5,000, as compared to 55% for male-owned businesses.” With numbers like that, we thought it would be helpful to showcase some of those places women can obtain the funding they need to run the business of their dreams.
iFundWomen is a crowdfunding platform for women-owned startups and businesses. According to the SBA, most women will crowdfund or dip into personal savings to start-up their perfect business. The platform offers a free 20-minute call to help you with your fundraising campaign. They also offer business coaching to help you really work through your business ideas.
The SBA hosts an annual competition for businesses that positively impact the lives of women. The winner of the competition gets $40,000 and the prizes decrease in size for the second and third place. To participate, find a local InnovateHER Challenge.
Eileen Fisher Women-Owned Business Grant
Eileen Fisher is a women’s clothing retailer but it awards $100,000 to 10 women-owned businesses per year. Women must own 51% of the company and must not do over a million dollars in revenue per year. Ladies, your business must also focus on environmental or social change.
This site will filter all the grants that are federally sponsored. Be sure to filter those grants to fit your specific needs.
Small Business Funding
If you’ve been in business for at least 3 months and do more than $10,000 in revenue per month, SBF is here to help. We are more than happy to help women find the perfect loan to help them thrive in business.
With such stellar options, there’s no reason women have to start their businesses with less capital. We’re here to help you find the perfect option for your business.