“Fund Her Future” grant program to help fill the funding gap faced by women-owned small businesses
While women-owned startups continue to outpace those of men, funding remains a key challenge in women entrepreneurs’ success. To address this gap, Block Advisors by H&R Block announced it will award $100,000 in grants to five women-owned small businesses, plus a year of their small business services.
“Supporting the advancement of small business is a start, but we need to also do our part in leveling the playing field for men and women entrepreneurs,” said Khan. “Women small business owners are integral players in their communities. We owe it to them to close funding and support gaps so they can focus on realizing their goals and making an impact.”
Block Advisors surveyed small businesses as part of its Small Business Resilience Series revealing that 31% of women started their business within five months of having thought of it, versus 22% of men. However, women owners were more likely to make less money and be turned down for a loan than their counterparts. These disparities were magnified for small business owners of color.
First-prize in the competition will include a $50,000 grant and one year of access to small business services from Block Advisors. Each of the four runners-up will receive a $12,500 grant and the services package.
Applications for the program will close on May 26th, and a group of finalists will be interviewed in mid-June. From this, the five winners will be chosen by month’s end. Applicants must be over 18 years old and an owner of a United States-based business that is at least 51% women-owned, plus meet other requirements found on the grant website.
Block Advisors sees the “Funder Her Future” grant program as a way to contribute to local communities.
“With immediate access to capital, resources, and trusted expertise, we’re confident women entrepreneurs will see significant growth for their small business, influencing the momentum of their community for years to come,” said Khan.
