U.S. Small Business Administration Grants
The SBA offers a variety of government grants for woman-owned start up businesses. Many of these work in conjunction with local banks to help guarantee loans for small businesses. The maximum loan amount is generally $750,000, and the process is quite simple for start up businesses with smaller loan needs in the $25,000 range.The application process generally includes a business plan, formal application submission and some kind of substantial collateral like a home or property.
Self-Employment and Enterprise Development Programs
Some states offer government grants to woman-owned start up businesses through Self-Employment and Enterprise Development Programs, also called SEED programs. Offered in select areas, these programs strive to aid unemployed workers, including women, in their entrepreneurial aspirations by providing loans in lieu of the potential business owner collecting unemployment insurance.
Other State Grant Programs
Individual states' economic development agencies provide support by lending small amounts of money to small businesses, and are often especially interested in supporting woman-owned and minority businesses. Contact your state government for details on programs available in your specific community.