The federal Small Business Administration has an Office of Women's Business Ownership, leading some first-time women business owners to hope that the SBA might offer start up grants for women entrepreneurs. However, Uncle Sam generally offers new businesswomen just advice and loans, not grants.
Government Grants for Women with New, Start-Up Businesses
Given the fact that the US is a market-driven economy, a first-time business owner might be forgiven for hoping that financial assistance would be forthcoming from the federal agency tasked to help small businesses. That would be the Small Business Administration, which is located in Washington, DC, and has offices in every state of the union. The SBA’s stated mission is to help Americans "start, build and grow businesses"—but not to underwrite them financially.
The Small Business Administration states their position on grants to start-ups—whether launched by entrepreneurial men, women or other demographic categories—in the clearest possible terms. It states, "The SBA does not provide start-up grants or other grants to individuals or businesses."
And, it's not just the SBA that isn't giving away money. Neither do state governments. The umbrella website of the United States government states, "Federal and state government agencies do not provide grants to women to help them start a business."
Money, in the Form of Loans, for Women Starting New Businesses
However, the Small Business Administration does offer a variety of loan programs. Interested entrepreneurs can find a range of Small Business Administration loan packages, each with different eligibility criteria.
For instance, the SBA runs a "Guaranteed Loan Program," meaning that if a business loan application is accepted by the SBA, the SBA will guarantee that the loan is repaid. Detailed information about this program can be found on the SBA website.
If the owner of a new business is seeking financing —and not just grants— it's worth checking out the SBA's financing website, which offers an overview of many different government loans to small businesses.
Information, Not Grants, Available to First-Time Women Business Owners
Finally, although they're not handing out cash, the local Small Business Administration might offer other sorts of assistance to first-time entrepreneurs who are women. For instance, their cadre of retired business owners, who volunteer under the umbrella of a national program called SCORE, offers free advice on business plans and start-up ventures.
Finally, the exception makes the rule: The SBA does have one very specific grant program. It is available only to private, non-profit organizations whose mission is to run women's business centers offering business training, counseling and other assistance to women entrepreneurs and women who want to start businesses.
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