subject: Small Business Grants for Women in Business [print this page] Traditionally women own smaller type of businesses with the least amount of financial assistance from banks and venture capital firms. Hence their financial options are very limited and they need grants which are very difficult to get. Due to good credit histories and the collateral securities provided by them, the businesses are run. They even use the credit cards and borrow from family members and friends to start a business which are not comfortable for them. In order to help them, the women's financial fund, a non-profit organization was started to give grants to women. This has given a chance to the women to start their own businesses and get employment security in family friendly companies without availing any loans from the financial institutions.
Women are encouraged to own all types of businesses including network marketing companies and service oriented businesses under new business grants by this organization. Existing business grants have been given to women to expand their existing businesses, for developing new products, expanding into new market and for buying new equipments to increase their reach.
In order to quality for getting the grants, they must be women with 18 years of age, a U.S. Citizen and should have paid the application fee to the Women's Financial Fund. Depending upon the quality of the business plan and the products marketed, business grants are sanctioned to women. Since the grants need not have to be paid back, the credit history is not considered for giving the grants.
Though women depend upon the grants for necessary funds for creating the new businesses, they do not follow the process correctly while submitting the applications. Because of this, their applications get rejected and also the grant givers become more concerned about the applicants.
The women should fill up the application forms completely without any blanks and the application should be comprehensive in all aspect. The columns which are not applicable to you should be marked with N.A. in the appropriate spaces. By submitting an incomplete application, they gave the impression that they are not ready with their business plans. The applications should be filled with correct information and details honestly. If the grant givers find that false details have been furnished, then they become disqualified for the business grant. If some private information like lack of education and bankruptcy are to be kept confidential, then they should apply for those business grants where they need not have to disclose these details.
The application for grants will not get approved unless it is accompanied along with a detailed business plan. The applications are to be submitted well before the deadlines without rushing in the eleventh hour. They will have to prepare a clear expenses budget and submit to the grants organization so as to establish that the business grants are being fully utilized by them for that particular business. By providing the complete details and definitions of the future products, they should impress the grant reviewer about the proper use of the grants.
Small Business Grant Source:
Learn the application procedures, various funding sources for specific types of businesses and eligibility criteria for small business grants. You can find the most comprehensive information on availing of small business grants by visiting this online guide on grants here
Small Business Grants for Women in Business
By: David Hensley
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