Grants

Grants for Women-Owned Businesses

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cannabis classesWomen entrepreneurs are having a tremendous impact on the small business landscape nationwide.

Yet to continue to be competitive and grow, these entrepreneurs have to find funding for their ventures. And, alarmingly, women entrepreneurs are increasingly being turned away by banks for small business loans. Thankfully, they still have other options, given the rise of technology-driven financial lending sources — such as online loans, peer-to-peer loans and crowdfunding. 

Then there are government grants. While not widely known or used, these grants are another great option for women seeking extra funding for their business ventures. They just take a little more work.

Business owners often turn to grants because they are not required to pay them back; essentially, you can look at grants as “free money,” but they come with stipulations. Also, understanding and navigating the grant process can be complex.

First, you have to research and find a grant for which you’re eligible. Then, you have to understand the strict application and compliance guidelines you must meet, to be eligible. Third, you have to compete with other businesses for the same pool of money. Fourth, if you’re awarded a grant, you must report on how you used it. Finally, you must devote time and energy to the lengthy application process, then wait for approval. In a nutshell, you need to have all of your ducks in a row, up-front and afterward.

Another great resource to use in your research is the Minority Business Development Agency (MBDA). The MBDA is an agency of the U.S. Department of Commerce that assists minorities and women in establishing and growing their businesses. On its site, you can research grants and access links to state agencies that work with women-owned businesses for funding opportunities. Click here to view all of the state agencies across the country.

To help in your search, we gathered information on these private grants for women entrepreneurs started: Click to Read the Entire Article by Victoria Treyger Entrepreneur.com

As banks turn away from the cannabis industry, new investors have appeared. Launch: How To Get Into The Cannabis Industry includes a seminar on investors’ criteria and list of capital resources.

6 thoughts on “Grants for Women-Owned Businesses

    1. Google “how to open a business in NV”
      The Resources page on the website has links to business plan templates.
      State Small Business Administration has a mentoring program and can provide you with relevant information and resources.

    1. There is a link in the article the connects to a list of available grants. I copied & pasted paragraph that contains links for you. Please refer back to article.

      Another great resource to use in your research is the Minority Business Development Agency (MBDA). The MBDA is an agency of the U.S. Department of Commerce that assists minorities and women in establishing and growing their businesses. On its site, you can research grants and access links to state agencies that work with women-owned businesses for funding opportunities. Click here to view all of the state agencies across the country.

  1. I would like help opening a medical dispensary in NM. I am starting from scratch, have no savings, I have crappy credit. This is my opportunity to go big or go home. I feel very passionate about this endeavor and I will succeed!

    1. Kate, I applaud your entrepreneurial spirit. I believe you will succeed! I assume that you have worked in a medical dispensary, knowledgeable about the plant, have a completed business – marketing plan with sales strategy and cost projections for at least two years. Turn your expertise and business plan into a pitch deck, Google cannabis investors and start sending out your pitch deck. Canva is a great free design software that includes presentations/pitch deck templates. Prezi https://prezi.com/ is my favorite for pitch deck, there are also websites that offer pitch decks.

      I’m not familiar with NM cannabis licensing regulations. Until recently out of state investors could not obtain a Colorado license, could not own a dispensary, etc. Out of state investors would circumvent this law by putting the license in and doing business under a Colorado resident’s name in return for a percentage of the business. The same for investors that had been convicted of a felony. Of course, there are potential problems with this approach. You need a lawyer to look over the contracts.
      So, what took place in Colorado when we opened up to out of state investors was that the license holders were offered a buy-out. The buy out offers were small in comparison to the value of the license. An existing license can sell for millions.
      I think you are a very smart woman with determination. This is your opportunity and I believe you will find the way to make it happen!
      Best Regards & Blessings for Success,

      Addison Morris
      womenscannabischamber@gmail.com

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