What Women Want
Where's the money for women-owned businesses?
Question: I met you
at the California Governor's Conference for Women, where you
mentioned grants and loans available to women starting businesses.
My business will probably be a nonprofit owned by women. Do I
qualify for this capital?
Cindi Bradley
Sierra Madre, CA
Answer: We both
think women do a much better job of organizing, networking and
serving one another than any good old boy networks, certainly in
the past 30 years. So we're not surprised to see a number of
foundations and Web sites cropping up to serve women. These
include:
Content Continues Below
Count Me In for Women's
Economic Independence offers small-business loans and
training scholarships to women. It was co-founded by Nell Merlino,
who helped create Take Our Daughters to Work Day. Loans it bestows
range from $500 to $10,000, and its scholarships help pay for
business training and technical assistance. Count Me In gets its
funds from contributions from women. Go to www.count-me-in.org for more
information.
In cooperation with Hewlett-Packard, The Forum for Women Entrepreneurs offers a
scholarship program valued at more than $150,000 in hardware,
software and services for high-tech businesses.
The Amber Foundation,
funded and operated by WomensNet.Net, sponsors grant competitions.
The grants are available to any business or nonprofit organization
that's primarily woman-owned (business) or woman-oriented
(nonprofit). The current competition has a top award of $3,000
(second place is $1,500; third place is $500). The Web site is
www.womensnet.net/amber_fs.html.
Women and other specific groups are targeted by agencies
receiving microloan money from the SBA. To find the agency in your area, go to
www.sbaonline.sba.gov/financing/microparticipants.html
or call (800) 827-5722.
Finally, because you plan to make your business nonprofit, check
to see whether your activity qualifies for other sources of federal
money available for your cause. The Federal Catalog of Domestic
Assistance is now available on the Web at www.cfda.gov.
Small-business experts Paul and Sarah Edwards' latest
book is The Practical Dreamer's Handbook(Putnam
Publishing Group). If you have a question regarding a start-up
business issue, contact them at www.workingfromhome.com or
send it in care of Entrepreneur.