Single minority women business owners are breaking barriers with the aid of grants.
According to a study conducted by The Minority Business Development Agency, business ownership by minority women increased from 1997 to 2002 twice as fast when compared to minority men and non-minority women and men. However, discrepancies still remain between non-minority and minority owned businesses in terms of success and overall wealth. Having access to grants helps single minority women build wealth and expand their businesses.
Foundation For Women
In 1997, the Foundation for Women started providing national and international aid to impoverished and single minority women through microcredit programs or business funding. These programs give grants to minority women who are pursuing their entrepreneurial dreams, while living at the poverty level. These grants assist women in creating solid business plans, marketing their businesses and purchasing equipment and supplies. Also, the foundation helps women establish saving accounts and emergency funds for if they decide to attend college or need to handle unexpected transitions in the economy.
The Foundation For Women
4748 Morena Blvd. Suite 385
San Diego, CA 92117
858-583-0410
foundationforwomen.org
American Association of University Women
The American Association of University Women awards grants to minority women each year who are pursuing a bachelor’s degree in business or in a field related to their professional development. This grant is sponsored by the association's Career Development department. Eligible applicants must be seeking their first college degree. The department gives 700 grants per year with special consideration for women of color. As of 2010, $500,000 was given in grant money. The grant must be used to cover the cost of transportation, books, supplies and school conferences.
American Association of University Women
National Office
1112 16 Street
Washington, DC 20035
800-346-2279
aauw.org
Catalog of Federal Domestic Assistance
The Catalog of Federal Domestic Assistance provides monetary support to non-profit and for-profit businesses. Grant funding is provided to minority and women-owned companies in inner-city communities and areas involved in revitalization development. In order to be considered, a business’s products and services need to involve scientific research, technology, medicine or education.
The Catalog of Federal Domestic Assistance
300 Independence Ave. South
Washington, DC 20201
202-512-1800
cfda.gov
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