7 Grants for Single Black Mothers to Start a Business
As a single black mom, I know how hard it can be to think about starting your own business when you’re busy raising a child on your own.
That’s why I was so happy to find out about Grants for Single Black Mothers to Start a Business.
These grants give us the money and support we need to make our business dreams come true.
In this blog post, I’ll tell you about my own experience with these grants and how they’ve made life better for me and my child.
Top 7 Grants for Single Black Mothers to Start a Business
These are the top 5 Grants for Single Black Mothers to Start a Business:
1. Amber Grant
This grant was started to help encourage single moms and women in general. It was started by womensnet.com in honour of Amber Wigdahl, a young entrepreneur who died at the age of 19.
All those who are eligible are awarded a $2,000 Amber Grant every month. An additional $25,000 is also assigned at the end of the year to one of the monthly recipients.
To be eligible for this grant, you must pay a $15 application fee and tell your story in a written statement to womensnet.com before the last day of the month.
If you are a single black mom and want to pursue studies, check out this article on scholarships for single black mothers.
2. Fearless Strivers Grant Contest
With this contest, 11 small businesses nationwide will receive $10,000 in grants, digital tools, and personal coaching to grow their business.
The Fearless Fund, in partnership with MasterCard, aims to empower fearless Black female entrepreneurs to serve as role models in their communities.
3. Power Forward Small Business Grant
The Power Forward Small Business Scholarship awards US$25,000 to winners on an ongoing basis.
Grantees receive custom design and marketing support as well as national recognition. Vistaprint, the Boston Celtics Shamrock Foundation, and the NAACP recognize there is power in moving forward.
So together, they donated $1 million to black-owned small businesses in New England.
4. HerRise MicroGrant
The HerRise MicroGrant believes that with more black female founders, the funding they receive should increase as well so they work with businesses, foundations, and funders to provide financial assistance to women.
This digital community platform donates $500 each month to small businesses owned by women of color.
HerRise The recipient can use the grant to purchase computers, marketing materials, equipment, etc.
5. National Association For the Self-Employed (NASE) Growth Grants
To be able to access this grant, you have to be a member as it provides grants to its 50,000 members, including single moms.
To be a member, you just have to pay $120 annually. All awardees receive multiple grants worth $4000.
To be eligible, you must submit a resume and business plan, demonstrating how the grant money would help the growth of your business.
NASE also offers members with other services like discounts on products, legal advocacy, and networking resources.
Top 2 Government Grants for Single Mothers to Start a Business
These are the Top 2 Government Grants for Single Mothers to Start a Business:
1. Economic Development Administration
Each state and local governments have economic development resources aimed at revitalizing the local economy.
California has many economic development districts, including the excellent California Economic Development District, which distributes funds to local businesses.
2. Small Business Innovation Research and Small Business Technology Transfer programs
SBA promotes these two competitive programs that award grants to small businesses that contribute to federal research and development.
Eleven federal agencies, including the Departments of Agriculture, Defense and Health, and Social Services, list business financing opportunities on their websites.
How to Apply Grants for Single Black Mothers to Start a Business
Follow these steps to Apply Grants for Single Black Mothers to Start a Business:
1. Apply As Early As You Can
It is important to know that many people apply for these scholarships as soon as they become available. So early application is very important as the process can be very overwhelming. Please don’t waste any time as it can hamper your chances of getting the grants you require for your business.
2. Make Sure Your Documents Are Correct
These are the documents that are required for you to apply for grants for Single Black Mothers to Start a Business:
- Executive summary of your company and proposition.
- Target audience.
- Important features and benefits of the company.
- Market opportunity detailing the needs to be met, the potential customers, the market size, etc.
- Financials.
- Pricing and revenue.
Your business plan is very important and must be with you when you apply.
3. Meet the Grant Eligibility Criteria
Every agency that issues grants has certain criteria that you must meet to be able to apply for their grants. For instance, grant agencies for single black moms already have their eligibility criteria- you must be a single black mom. So you have to find out what requirements you must have to be able to apply.
You may also want to check out this article on how to get Personal Grants for Single Mothers.
Eligibility Criteria for Grants for Single Black Mothers to Start a Business
These are the Eligibility Criteria for Grants for Single Black Mothers to Start a Business:
- You must be a single mother.
- You have to produce a working business plan.
- You must have a resume.
- You should have a statement showing how the grant will help your business.
Documents Required to Apply for Grants for Single Black Mothers to Start a Business
These are the Documents that are Required to Apply for Grants for Single Black Mothers to Start a Business:
- Executive summary of your company and proposition.
- Market opportunity detailing the needs to be met, the potential customers, the market size, etc.
- Financials.
- Pricing and revenue.
- Target audience.
- Important features and benefits of the company.
Conclusion
If you are a single black mom and you need help starting a business, or you have a business idea, then this article is perfect for you.
Grants for single mothers are available, but only accessible to those who know how to navigate the challenges to find them. It is well known that finding funding for single black moms to start a business can be very difficult which is why we prepared this article for you.
