The world is rallying behind women, a feat that is long overdue. Governments all over the world are making it possible for women in business to prosper by introducing several business grants for single mothers.
In the US alone, millions of money are set aside each year by the government and non-profits, just to fund these companies that are led and managed by women. It simply boils down to one thing: what sort of grant do you need? Additional capital to revamp your business or to fund a new venture?
While there are several business grants for single mothers and other women, there are also some to boost education. These grants are specifically tailored for women.
1. InnovateHER Challenge
This grant is focused on making changes in the lives of women by challenging them to find their solutions. The grant is tailored so that it takes place in the local setting, with participants being part of the local InnovateHER Challenge based on their location. It is available all over the US so that every willing participant takes part. The competitions take place all over the country, but the winners have to reach the National semi-finals. The goal of this grant is for women to come up with a product that is marketable and one that will positively affect the woman. It is a sort of women finding solutions for their challenges, which only they would understand best. At the national level, three women will win the price, with the grant amounts being $40,000, $20,000, and $10,000, respectively for first, second, and third places.
This category of business grants for single mothers and other women is the brainchild of The US Small Business Administration, which is an agency of the federal government. This independent organization aims at creating opportunities for small business by giving them loans, grants and advancing their efforts. The company was started in 1953 and has funded thousands of businesses over its life.
2. EILEEN FISHER Women-Owned Business Grant
Mothers from all walks of life have one similar trait: to do right by their children. The EILEEN FISHER Women-Owned Business Grant focuses on making life better for all women all over the world. The organization is not restricted to the US. This grant accepts applications from those women who are making an impact in their society. It could be through giving access to better services like the Ugandan grantee who invented smoke-free stoves for her community or coming up with a service that could enable fellow women to come up with a jam factory that will process rejected fruits. This was an effort from a UK farmer.
This grant has a strict eligibility criterion. The business has to have moved from the start-up phase and must have been in operation for at least one year. It has to be women-led or with at least 51% of the ownership being with women. The business should not have annual revenues of over $1 million, and it should be focused on activities that will impact their community positively. The EILEEN FISHER Foundation has been in existence since 2004, and it issues grants worth $120,000 per year. The minimum grant amount is $12,000.
3. Huggies MomInspired Grant Program
This grant specifically targets moms. It is stipulated to be for Mompreneurs with new viable ideas inspired by motherhood and pregnancies. Mothers are encouraged to think in line of what challenged they have faced and what products they think would have helped them.This grant program supported by Kimberly-Clark, the company that owns the Huggies brand among others. Since inception, it has given monies to Mompreneurs who have some up with excellent ideas such as Bobee™; a wall mounted wipe and diaper dispenser, DadPack, a stylish faux leather sling for easy organization, Psi Bands® for nausea relief especially in the first trimester, and several other products.
The Mompreneurs applying for this grant must be at least 21 years old, and they must reside in the US. They have to be mothers, of course, and the product they want to be funded has to be geared towards pregnancy or post-pregnancy. The winning idea not only gets a $15,000 grant, but they are also given ideas on how to successfully run their business and create a brand. This is one of the company grants for single mothers and other mommies that are given annually.
4. Wal-Mart Women’s Economic Empowerment Initiative
Wal-Mart, one of the largest stores in the US, started an initiative to fund women-owned businesses across their chain of stores. This program targets each country that Wal-Mart has a store. The grant program that was initiated in 2011 was targeted towards these five plans: (a) To increase sourcing from women-owned businesses with up to $20 billion. (b) To increase training and learning opportunities for women. (c) To help up to 200,000 women from low-income households to gain access to education and retail training. (d) To increase minority and gender diversity among its suppliers. (e)To give up to $ 100 million grants to advance women-owned businesses.
The chain of stores has been making this impact since 2011, and a large number of marginalized women have benefited from it. Their grantees are scattered all over the world, from the US to Asia and India. Potential grantees are encouraged to apply if they have ideas that could improve the lives of their communities. Wal-Mart funds projects to completion.
5. Zions Bank Smart Women Grant
This grant is not your average kind. It not only targets businesswomen, but it also supports women from underserved communities and low-income families in their pursuit of higher education. Every year, a grantee pursuing either of these disciplines is granted $ 3,000 to further their course.
- Community development
- Continuing education and teacher support
- Child and elder care
- Health and human services
Recipients of this grant have to reside in Utah and Idaho, and they must prove their low-income statuses.
Since its inception, this grant program has changed the lives of 76 grantees. Each of the six categories gets the same amount, $3,000.
There You Have It!
Women now have avenues to get financing for their businesses. All that you need us a great business idea, and hopefully one that hasn’t been tried in your community. Armed with that, you can apply for any one of these business grants for single mothers and other women alike. All the best!