Where Can I Apply for Business Minority & Women Grants?

There are many non-profit and private foundations that are dedicated to the success of women-owned and minority-owned businesses. A lengthy application is always involved when applying for a business grant.

Misconceptions

There are many Internet ads that say there are millions of dollars waiting to be given out to women and minorities who are starting businesses.The truth is the U.S. government does not offer business grants to start a business. In some cases, grants may be available in the fields of education and science. Check out the Resources section for the government grant Website.

Types

There are three main types of grants available to women and minorities: private, corporate and professional. Private grants are funded by individuals. Corporate grants are provided by businesses, and professional grants are given by nonprofits and universities.

Places

Three resources that offer many links and resources for financial assistance to women-owned and minority-owned businesses are WomenOwned.com, the Small Business Association and Michigan State University. The SBA Office of Women's Business Ownership offers a free online course in locating grants.

Size

Sizes of grants range from a few hundred dollars to several thousand dollars.

Considerations

Make sure you have a detailed business plan before applying for grants. Also, consider taking a grant writing course or reading a grant writing book to increase your chances of receiving grants. This is a highly competitive field.

Resources

• WomanOwned.com
• Michigan State University