For many, many years it has been true that white males dominate the business world.  Of late, minorities have been moving up the ranks, tackling executive positions, running multi-national corporations, and even venturing into the uncharted (for them) territories of entrepreneurship.  And along with changing times have come changing attitudes about who can succeed in business and the types of strategies that will hit big. 

If you’re a woman who is looking to start a business and you have both a great idea and a comprehensive plan, but find yourself woefully lacking in funds, then you’ll be happy to hear that there are a lot of resources out there geared at helping you get your enterprise off the ground.  Investors are one avenue of funding you may want to explore at some point, but why borrow when you can get the money for free (or at a reduced rate) simply because you’re a female entrepreneur?  You should start by looking for grants and loans specifically created to help you.

Of course, you need to know where to look.  And a good place to start is at the federal level.  The government has a wide range of both grants and loans available to help businesses that are just starting out, so make your first visit to Grants.gov to seek out grants for which you may be eligible.  Believe it or not, you may find several aimed at women in the business arena and the site makes it easy to apply for as many grants as you want.  Next you’ll want to speak with someone at the Small Business Administration (SBA), preferably in the Office of Women’s Business Ownership.  This organization may be able to help you secure a loan for your business at some of the best rates around.

However, you needn’t stop there and head straight to the bank if you strike out.  Organizations like Startup America (and many others) are looking for bright, energetic, motivated people like you to back in their business ventures.  Startup America, in particular, receives funding from companies like Google, Facebook, and IBM, which bodes well for people with big ideas who just need a little seed money.  They may not be geared towards women exclusively, but that doesn’t mean you can’t qualify to receive funding from them.  So exercise due diligence: seek out organizations like this one and make a bid for recognition and financial backing.

Finally, you can pursue opportunities at the state and local level.  Look into statewide initiatives offered by your state’s government (often they can be found through a state business portal, an office of small business advocacy, or an office of economic development, just for a few examples).  And don’t neglect to check in with your local Chamber of Commerce.  You may be eligible for grants or special loan rates simply because you will bring new business and employment opportunities to the community.  They may even be able to direct you to angel investors looking for the next small business to offer their money and expertise.

Sarah Danielson writes for Totally Money where you can find out how to get a loan with poor credit and browse through different options for cheap loans.

 

 

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Small Business Grants and Loans for Women