Entrepreneurial Parents: 4 Business Grants For Single Mothers
As an entrepreneur, you need working capital to get your venture off the ground and increase your profits year after year. Grants are a great way to inject some no-strings-attached cash into your business and invest in supplies or services you need to grow it. There are often grants for specific demographics. These single-mother grants for business could help put your ledger in the black.
Grants For Single Mothers In Business
According to Forbes, “Only 1.9% of venture capital funding goes to women-founded startups, despite women-owned startups generating higher returns on the VC they do receive compared to their male counterparts.” Though that statistic is daunting, women and moms have to seek out funding wherever they can.
The MicroLoan Grant (MLG) for entrepreneurial single mothers from the Emerge Mothers Academy supports mom entrepreneurs annually. Emerge Mothers partners with applicants through a business proposal process. Grant applicant finalists present their startup idea or existing business to a panel of professionals each May to have a shot at receiving funding and business mentorship.
The High Five Grant from The Mama Ladder has a goal to help motivated mom entrepreneurs grow their businesses and reach $1 million in revenue in their companies.
The four requirements are that your business must be headquartered in the United States or Canada, you’re a mom, you own 50% of a for-profit business, and you can verify earning between $10,000 and $500,000 of annual revenue in the past 12 months.
Wealthy Single Mommy gives out a $500 Monthly Kickass Single Mom Stimulus Grant. One mom is awarded $500, no strings attached. The monthly grant is for those struggling with money, health, stress, child care, illness, and loneliness.
To qualify, you must be a single mom and immediately need the money.
The Kitty Fund Mompreneur Business Grant was created to honor Founder’s First CEO Kim Folsom’s mother, Catherine “Kitty” Abrams Tadlock Webster, who passed away in March 2020. The Kitty Fund is a national micro-investment fund for moms who run employer-based small businesses with two or more employees.
For this grant, 25 moms have an opportunity to win $1,000 each. To qualify for the micro-grant, the applicant must be the CEO, president, or business owner; they must have an active U.S.-based business; have an annual revenue that doesn’t exceed $5 million; be in business for a minimum of one year; they must have two to 100 employees; and identify as a mother.
You can also find single-mother grants for business from databases designed for female entrepreneurs. Also, remember to search for grants only available to residents of your state and tap into your government resources.
