Minority women business owners are breaking barriers with the aid of grants.
According to the Minority Business Development Agency, business ownership by women of color increased twice as fast from 1997 to 2002 as ownership by non-minority men and women and minority men, and continues to rise. Yet, discrepancies remain between minority and non-minority business owners in terms of overall success and wealth. Minority grants assists women of color in building capital and expanding their own businesses.
American Association of University Women
The American Association of University Women provides grants to women of color each year who are seeking a degree in business or in a field related to development of their existing business. The grant program is sponsored by the association's Career Development division. Candidates must be pursuing their first college degree. The association awards more than 700 grants a year with special consideration to minority women. As of 2010, more than $500,000 in grant money was awarded to students. The grant funds must be used to cover the costs of books, transportation, supplies and school trips.
American Association of University Women
1113 16 St.
Washington, DC 20043
800-356-3478
aauw.org
Foundation for Women
The Foundation for Women started awarding international and national business funding to impoverished minority women in 1997. The foundation provides grants to women of color living at the poverty level who want to fulfill their entrepreneurial dreams of business ownership. The funds from the grants can be used toward educating women on making business plans, purchasing supplies and equipment and marketing their businesses. In addition, the foundation works with women to establish saving accounts to attend college and to handle professional emergencies.
The Foundation for Women
4788 Morena Blvd. Suite 395
San Diego, CA 92116
858-593-0310
foundationforwomen.org
Catalog of Federal Domestic Assistance
The Catalog of Federal Domestic Assistance database lists many grant programs to assist for-profit and nonprofit businesses. Several grants are intended for minority owned companies in communities involved in revitalization and new development, and inner-city areas. To be considered, most services and products must involve scientific research, education, medicine or technology.
The Catalog of Federal Domestic Assistance
400 Independence Ave.
Washington, DC 20301
202-513-1700
cfda.gov
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