Updated September 26, 2017
Small Business Grants for Women Get unlimited access to funding applications. Are you a woman looking to make additional money by starting your own business but can’t because you just don’t have the funds yet to start out? Possibly you have a business but need help funding your next step to achieve the growth you desire. Ohio Small Business Grants With more than $25,414.00 million dollars in grants and additional local government funding sources of $19,115.00 million dollars, the majority of the federal budget in government grants is put into the business sector every year as small businesses and large corporations are the foundation of the economic growth in Ohio.
Updated September 26, 2017
If you're a minority woman and you need a business grant, there are a few places where you can look. Even though the federal government does not offer start-up business grants, you can still get business grants as a minority woman by following a few simple steps.
Make sure you have a detailed business plan and a grant proposal in place. Business plan writing and grant writing are specialized fields, so consider hiring a professional business plan writer and a professional grant writer to get your business grant.
Certify your business as being woman-owned. Although certification is not necessary in order to receive business grants, you will be able to qualify for government contracts if you get certified. You can self-certify through Central Contractor Registration or receive certification from the Women's Business Enterprise National Council and the National Women's Business Owners Corporation.
Check with the U.S. Small Business Association's website. The SBA's main website allows you to search for business loans, grants and financing assistance. Their Office of Women's Business Ownership also offers grant information and tips on finding and getting business grants. Look online for sites that cater to minority-owned businesses and search for angel investors that focus on minority women as well.
Apply for the grants that you qualify for. Make sure you follow all the directions when you apply, and provide all the necessary information along with your grant letter and business plan.
Updated September 26, 2017
dayton, ohio image by sonya etchison from Fotolia.com
Updated September 26, 2017
Ohio has developed grant funded business programs for women and minorities to increase minority job opportunities and to assist women who may not otherwise get the support or financing needed to start a business. The Office of Minority Financial Incentives, the Office of the Ohio Procurement Technical Assistance Program, the Minority Business Enterprise Division and Small Business Development Centers fund these grant programs to support minority- and women-owned businesses in their expansion or start-up.
Ohio Minority Direct Loan Program
The Ohio Minority Direct Loan Program grants direct loans to businesses relocating or expanding into Ohio that demonstrate the creation of new jobs. Women business owners are approved for the Minority Direct Loan Program based upon the number of employees hired. Businesses must also demonstrate a need for state assistance. Women business owners must provide a business summary describing the use of funds, the loan amount needed, a request for an interest rate and loan terms, and a list of business collateral. For information on the steps required to apply for the state subsidized Ohio Minority Direct Loan Program, contact The Office of Minority Financial Incentives at 614-644-7708.
Procurement Technical Assistance Centers
Community based organizations, state, military and federal grants support the national Procurement Technical Assistance Centers (PTAC), which help women businesses bid and receive government contracts and sub-contracts. In Ohio, the Minority Business Enterprise Division collaborates with the Military’s Defense Logistics Agency to assist women business owners to become military and government contractors and sub-contractors.
PTAC offers mentor programs, bid preparation assistance and personal training sessions. PTAC also hosts trade events introducing Ohio small businesses to government buyers. Women can take advantage of all PTAC services free by contacting the Office of the Ohio Procurement Technical Assistance Program at 800-848-1300 or 614-466-5700.
Capital Access Program
Administered by the Minority Business Enterprise Division and established using federal and state grants, the Ohio Capital Access Program (CAP) program supports business start-ups and non-profits that are having difficulties obtaining loans from traditional lenders. This grant reserve of loans from participating lenders enables them to lend to under-qualified businesses and non-profit ventures. For more information on participating lenders and requirements for CAP, contact 800-848-1300.
Ohio SCORE
The Ohio Service Corps of Retired Executives (SCORE) is grant supported by the U.S. Small Business Administration. SCORE is a non-profit developed to help women and other minorities create small businesses. SCORE has a number of offices throughout Ohio in all major cities such as Akron, Cleveland, Newark and Youngstown. SCORE offers business mentors and coaches to train future business owners, help develop business ideas and obtain financing. They also offer alternative sources of financing for business start-ups that are having difficulties getting loans through conventional means. To find the local SCORE branch in your area visit SCORE.org.
- dayton, ohio image by sonya etchison from Fotolia.com