A woman who wants to start a business can seek assistance in gaining capital resources. Women’s small business grants are available, but the competition is fierce. Don't be dismayed by the application process, but adequate preparation is a key factor.
Woman Small Business Grants Available with Research
When you’re a woman, small business grants may seem difficult to obtain, but in actuality, they’re not. In fact, some organizations are geared especially for women and women only. These organizations have specific guidelines to follow for obtaining a grant.
It’s important to know how to write a grant proposal and cover letter. Below are some guidelines to help you along the way.
Woman Small Business Grants: Writing the Cover Letter for a Grant Proposal
If you’re a woman, small business grants are a wonderful way to fund a project or business, but first you need to write a cover letter and grant proposal. This article will focus on what goes in your cover letter. Grant proposals require a lot of work, research, clarity and purpose, so be sure to know specifically what you’re needing.
Your cover letter should be:
· brief
· get to the point quickly
· should not simply repeat the information that is in the proposal
· should tell the reader how well you understand the funder and how your grant fulfills the funder's requirements
AMOUNT: We are pleased to submit this proposal in the amount of...Your first paragraph tells the amount.
PURPOSE: This grant is for the purpose of...
HIGHLIGHTS:
· What you plan to do
· Programs
· Specific purpose
· Provide for the needs of...
RELATIONSHIP:
· Mention how this organization might be tied in to your organization
· You have been a support in the past
· Thanks for attending shindig
· Opportunity to meet
· Thanks for spending time on the phone
End your letter with a final, summarizing paragraph. Include a thought about what this funding partnership can mean for your project's target audience.
The letter should be signed by the executive director or the board president, or both.
Below the signature, type the signer's fist name, middle initial, last name, and job title.
Although the ED or board president should sign the letter, the contact person's name and contact information can be included at the end of the last paragraph.
At the bottom of the letter, include the word, "ENCLOSURE" (in all caps).
Check out the following resources to help in your research process
Small Business Administration (Office of Women's Business Ownership)
(www.sba.gov/womeninbusiness) - The SBA is doing more than ever to help level the playing field for women entrepreneurs, who still face unique obstacles in the world of business. At every stage of developing and expanding a successful business, the Office of Women?s Business Ownership is here to counsel, teach, encourage and inspire. Check out their "Hot List" of outside resources.
Count-Me-In
(www.count-me-in.org) - This is a new fundraising organization that raises money from women for women. Loans are given from $500 to $10,000 (for first time recipients the maximum amount is $5,000). Count-Me-In looks like a great resource with funding consideration based on experience over credit history. Check them out! The CEO, Nell Merlino, started Take Our Daughters To Work Day in 1993.
Federal Money Retriever?
(www.fedmoney.com) - The premier grants and loans.database software containing information on all U. S. federal government grant and loan programs. There is a cost for the software, but the site allows you to research some of the grant dollars that are available. They have a specific category for grants available for women at: http://www.fedmoney.com/grants/su0232.htm
The Women's Funding Network
(www.wfnet.org) - Promotes the development and growth of women's funds that empower women and girls by fostering strategic alliances among women, donors, communities and institutions.
NBC Supplier Diversity Program Website
(www.nbcsourcing.com/supplierdiversity/) - This is not so much a funding opportunity, but a procurement opportunity specifically for women and minority owned businesses. The National Broadcasting Company has launched its Supplier Diversity website to inform Minority-owned and Woman-owned Business Enterprises (MWBEs) of NBC's Supplier Diversity Program, and also permit MWBE suppliers of high-quality goods and services to register their companies online. The website is is a way for us to increase the number of MWBEs we do business with. NBC owns and operates TV Stations in the following locations: Washington, DC; Los Angeles, CA; Dallas, TX; Chicago, IL; Philadelphia, PA; Hartford, CT; Miami, FL; San Diego, CA; Providence, RI; Columbus, OH; Raleigh, NC; Birmingham, AL.
American Association of University Women
(www.aauw.org) - This foundation is one of the largest private sources of funding for graduate women in the world, supports aspiring scholars around the globe, teachers and activists in local communities, women at critical stages of their careers, and those pursuing professions where women are underrepresented.
The Ada Project for Women (TAP)(http://tap.mills.edu) - Includes information on conferences, discussion groups, organizations, fellowships, grants, and notable women in computer science.
Financial Women International
(www.fwi.org) - Provides information on professional growth, information sharing, peer networking, mentoring, leadership development, and career advancement for women.
SCAMS
You will encounter scams in the way of: telephone calls to entice you, infomercials that look like TV programs with celebrities, "You're Invited" seminars that offer a big-time sales pitch. Don't ever give out information like your credit card number or bank account number. Do ask questions (you're entitled) and make sure you get the answers. Please be careful! Bookmark these resources so they are there when you need them:
Federal Trade Commission (www.ftc.gov) - this is the federal government's complaint department. If you have been "taken" by a scam or suspect a scam, let this department know and they will investigate. Check here for other investigations that have led to scams and learn how to avoid them (link to Consumer Protection and follow to Internet & E-Commerce).
National Fraud Information Center (www.fraud.org) - a division of the non-profit National Consumers League, this site is dedicated to educating consumers about scams and how to avoid them. Check out the Internet Fraud Daily Report with up to the minute on-line scams.
North American Securities Administrators Association (www.nasaa.org) - any individual or organization who wishes to protect themselves from securities fraud will find the information on this site useful. Entrepreneurs will find valuable information on franchising and raising capital in the "Help for small business" section.
ScamBusters (www.scambusters.org) - keeps you posted on what to watch out for. This site has earned the Forbes "Best of the Web" designation and has also appeared in the print version of Forbes' Best of the Web.
U.S. Department of Justice (http://www.usdoj.gov/criminal/cybercrime/index.html)
Federal Bureau of Investigation (www.fbi.gov)
Introduction to Net Scams and Hoaxes (http://kryten.eng.monash.edu.au/netscams.html) - an article about such things as chain letters and other spoofs on the Internet.
How To Avoid Internet Investment Scams (http://www.sec.gov/consumer/cyberfr.htm) - an article by the U.S. Securities and Exchange Commission... well worth checking out.
National Financial Fraud Exchange - can be reached by telephone at (800) 822-0416.
