In order to start a business, women will usually go get a loan from the bank or perhaps ask friends and family for a loan. Not many realize that they can get free money in the form of grants.
Minority women have special leverage in getting grants. There are many minority business grants for women available. These grants can supplement your business loan or perhaps even replace it altogether.
In order for you to apply for minority business grants for women, you must be Asian, Hispanic, or African American.
Many organizations give out minority business grants for women including the federal government. The organizations may include Non-profits and businesses.
If you want to be taken seriously for minority business grants for women, then you must have a business plan. The grantors want to see that the money they give you will be put to good use. A business plan can also help you to organize your business and set goals.
You can look for sample business plans online if you do not know how to write one. Otherwise, there are business consultants you can hire to help you.
Visit the federal government website for a list of all the federal grants available. Look for the grants specific to your cause, which would be the minority business grants for women.
Next, go to the chamber of commerce and look up businesses and organizations that provide minority business grants for women. The chamber of commerce is where businesses can network amongst each other.
Contact your local or state government. These governments usually have their own grants separate from federal grants.
When applying for minority business grants for women, you should apply to as many as you can find. The reason for this is that you may not get all the grants that you apply to, but the more you apply to the better your chances are of getting at least one grant.
Loraine Nelly is a business consultant and has helped many women create business plans and get financing. For further information on grants for minority women business owners, please visit her website.