Minority women
can recieve funding for home-based businesses through grants.
The Minority Business Development Agency study in 2002 demonstrated that companies owned by minority women grew at a rate twice as fast as non-minority men and women, in addition to minority men, from 1997 to 2002. Nevertheless, the disproportionate gap between minorities and wealth still remains, which grants help alleviate. Although there are no grants specifically for home-based businesses, there are programs to which minority women entrepreneurs can apply.
Foundation for Women
The Foundation for Women was founded in 1997 to help international and domestic women fund their businesses--including ones that are home-based--through a micro-crediting system. The micro-credit program provides female entrepreneurs with low-risk grants to help raise them out of poverty. The aid allows women to buy equipment and materials, write viable business plans, or apply marketing techniques to their establishments. The grants enable women to establish emergency funds to attend business development programs or undergo professional transitions.
Foundation for Women
4747 Morena Blvd.
Suite 375
San Diego, CA 92117
858-483-0400
foundationforwomen.org
The American Association of University Women
The American Association of University Women provides yearly Career Development Grants to aspiring female entrepreneurs. Eligible candidates must possess a Bachelor's degree prior to entering a new field of study or pursuing professional development. Minority women are given much consideration. Candidates must work towards receiving their first Master's or Doctorate's degree, or a certification. The grants alleviate the cost of conferences, books, distance learning, and transportation. The organization provides approximately 700 awards to women annually, totaling $500,000 in the year 2010.
National Office
AAUW
1111 16 St. N.W.
Washington, DC 20036
800-326-2289
aauw.org
Catalog of Federal Domestic Assistance
The Catalog of Federal Domestic Assistance provides benefits and financial aid to for-profit organizations and non-profit associations. The catalog "is a compendium of federal programs, projects, services, and activities that provide assistance or benefits to the American public." Many of the competitive grants are aimed at increasing minority women's participation in entrepreneurship, including home business ventures. Eligible businesses are involved in scientific and technical research and development, medicine, agriculture, or education. The grants specifically aid rural and inner-city communities to promote economic development.
Federal Domestic Assistance
200 Independence Ave., S.W.
HHH Building
Washington, DC 20201
202-512-1800
cfda.gov
Tags: Domestic Assistance, Federal Domestic, Federal Domestic Assistance, Foundation Women, minority women, American Association, American Association University
