How to Find Funding for Women-Owned Businesses

by | Dec 27, 2022 | Business Finance, Business Strategy, Resources, Small Business, Women in Business | 0 comments

How to Find Funding for Women-Owned Small Businesses

Many women business owners continue to face challenges when it comes to procuring capital for their companies. In fact, one study found that they often have less access to working capital than their non-women-owned counterparts.

If you’re actively looking for funding, check out the following list of resources that are especially focused on supporting women-owned small businesses.


The federal government’s goal is to award at least 5% of all federal contracting dollars to small disadvantaged businesses each year. The SBA’s 8(a) Business Development program helps these businesses compete in the marketplace.

Check with Women’s Business Centers (WBCs) and local assistance resources for guidance, and review SBA’s Lender Match tool for help finding capital. Women-owned small businesses can also take advantage of SBA loan programs. Their partners offer advice and counseling to help you choose the right path for your company.


Some private firms and organizations offer business grants and fellowships specifically for women. Unlike business loans, grants are debt-free money given to a company to help them grow its business.  Here are six popular grants to consider:

1. Tory Burch Foundation

The Tory Burch Foundation runs an annual fellows program for women entrepreneurs. The 50 selected fellows receive a one-year fellowship, including a $5,000 business education grant, plus access to 0% interest loans via Kiva. Winners also participate in workshops, coaching sessions, network-building opportunities, and a trip to the foundation office in New York City.

2. Amber Grant

The Amber Grant Foundation awards two $10,000 grants to different women-owned businesses every month. At the end of each year, two of the 24 grant winners are awarded an additional $25,000. The foundation also offers a variety of additional grants throughout the year.

3. IFundWomen

IFundWomen has a Universal Grant Application Database dedicated to funding and coaching for women-owned businesses. Here’s how it works: when IFundWomen brokers a grant with a partner, they match the partner’s grant criteria to businesses in the database. If you’re a match for one of their programs, you will be notified and invited to apply.

4. SoGal Black Founder Startup Grant

SoGal Foundation has teamed up with company sponsors like Winky Lux, Bluemercury, twelveNYC, Twilio, and others to provide several $10K and $5K cash grants to Black women or nonbinary entrepreneurs.

Awardees will also receive fundraising advice, with a focus on investor financing, and lifetime “ask-me-anything” access to the SoGal Foundation and SoGal Ventures teams.  Applications are accepted on a rolling basis, so you can apply on the SoGal website at any time.

5. Fearless Strivers Grant Contest

Fearless Fund and Mastercard have partnered to launch the Fearless Strivers Grant Contest, which offers $10,000 grants to Women of Color business owners in cities across the U.S. with the needed funding and digital resources to build and bolster their businesses. To qualify for this small-business grant, you must have a U.S.-based business, 50 or fewer employees, and have made $3 million or less in annual revenue in the past year.

6. Cartier Women’s Initiative Awards

Cartier presents three annual grants to women-owned businesses in nine different regions around the world. The Cartier Women’s Initiative Awards program aims to equip winners with the necessary skills to grow their businesses and build their leadership capacity.

Business owners are awarded the following grant prizes: $100,000 for first place, $60,000 for second place, and $30,000 for third place. Winners also receive executive coaching and the opportunity to participate in a variety of training workshops.


At First Union, we’ve worked with all sorts of businesses, and especially, as of late, more women-owned businesses. As an alternative lender, we can usually help you get the money you need faster and with less stringent requirements than traditional lenders so that your business can continue to thrive.

With a dedicated advisor and flexible terms, along with a host of financing programs, First Union remains a valuable resource for women-owned businesses. Call us at 863-825-5626 today!

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