Women at Work: Your business may qualify for grant
What? There are programs out there that will fund a woman-owned business when they start or grow that do not have to be repaid? It’s true. Although somewhat challenging to obtain, there are business grants out there to be had.
I can attest to the fact that grants can be difficult to write, as I was just informed today that although a grant I wrote met all qualifications, I had mis-categorized it, so it was turned down. In addition to personal knowledge of grants, I do know that many companies in our area have full-time grant writers.
Grants are nonrepayable funds or products disbursed by one party, often a government department, corporation, foundation or trust, to a recipient. Often the recipient, but not always, is a nonprofit entity, educational institution, business or an individual.
Writing a grant or filling in the grant application is generally how one would be awarded this money. Most grants are made to fund a specific project and require some level of compliance and/or reporting.
Grants for women, especially business grants for women, help level the playing field by providing financial assistance enabling them to compete in today’s marketplace.
The organizations that offer small business grants for women are firmly in support of the idea that women are important contributors to the economy and can enrich the culture and society on a local, national, and even international level.
Besides the federal grants that are available through government agencies, there also are a variety of other grant opportunities for women including:
• Private grants: An individual or family who has a vested interest in promoting certain activities through their generosity typically funds this type of grant. In some cases, there is a foundation set up to oversee the disbursement of grants and awards with an overseeing board of directors.
• Corporate grants: Companies also often have grant programs designed to help business owners. These grants are a form of public relations for the companies that give them away. Recognizable companies including Kelloggs, Microsoft, Ford, Cisco, General Electric, Boeing and many other Fortune 500 corporations offer grants.
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