Applying for a female business grant can be tough. You have to find the grants, read the eligibility requirements, apply, and hope that you did everything correctly. Here are some guidelines on how to apply for grants so you can get on the road to success.
The hardest part of applying for grants is finding them. Many associations encourage you to take out a loan, but that may not be an option in your situation. Several women-oriented organizations are specifically designed to give grants to women-owned and single mom businesses. These grants for women help boost startups and small businesses—especially if your business’s goal is to make an impact on your community.
Reading Eligibility Requirements
Female business grants always have stipulations and eligibility criteria that you should review before completing an application. Some of the most common requirements include making under a certain amount of annual income, having a specified number of employees, and the physical location of your company. Some grants for women require that your business fits a particular category such as being a non-profit organization.
Reading the Tips
Most foundations are more than happy to give you a few tips on how to increase your chances of winning a female business grant. The tips are there to highlight features of your application that you may consider unimportant. Your business goal is essential, but many foundations want to know how you’ll benefit women and single mothers so the money can do the greatest good. Reading these tips definitely increases your chances of being awarded because you will understand what the foundations want from applicants.
Completing the Application
To get the grant, you must complete the application. Each foundation usually has different rules and requirements, so this step can be time consuming. Some may require that you complete a simple form that explains your company story, but others require that you complete a two-minute video or write an essay detailing what you’ll use the money for should you win.
Checking for Errors
Under no circumstances should you submit an application with errors. A simple spelling or grammar issue could decrease your chances of winning the grant, but making a mistake on your contact information could reduce your chances to zero. Whether it’s a video, essay, or just a simple form, you need to read over your application and check for any errors carefully. You want to present your best possible self to the judges.
Every foundation and grant have their own method of contacting winners. Some may call or send a letter to the business directly, while others may simply post the winner on their website. For this reason, you want to stay updated on when the winners will be announced and the methods used by the foundation. Most groups let you know how the winners are declared, but you can always send an email to the company running the grant to be sure.