Government Grants and Federal Programs for Women
The federal government allocates billions annually for programs that provide free money for women through grants and subsidized loans. The Small Business Administration (SBA) offers the Women-Owned Small Business Federal Contract Program, which set a 5% goal for federal contracting dollars in fiscal year 2024. The SBA's Office of Women's Business Ownership manages the Women's Business Centers (WBCs), which provided over 150,000 hours of training and counseling in the latest reporting period. Additionally, the Department of Housing and Urban Development (HUD) offers housing grants and the Low-Income Home Energy Assistance Program (LIHEAP), which in 2023 served millions of women-led households. The National Institutes of Health (NIH) also funds research through grants specifically targeting women's health initiatives, with funding increasing year over year.
Applying for these programs requires registering in the System for Award Management (SAM.gov) and often using tools like Grants.gov. For small business owners, the SBA's Lender Match tool connects women with approved lenders within two business days. Many state-level programs mirror federal efforts, such as the California Capital Access Program and New York's MWBE certification, which prioritize women-owned businesses. The SBA's 2024 data shows women-owned firms received a record share of federal contracts, signaling growing access to free money for women through public channels. For a full list of federal grants, visit Grants.gov.
Private Foundations and Corporate Grants
Private foundations and corporations distribute millions in free money for women through targeted grants and fellowships. The Amber Grant, founded by WomensNet, awards twelve $10,000 grants monthly and a $25,000 year-end grant to women entrepreneurs. The Tory Burch Foundation provides capital through its Foundation Fellows program, offering a $5,000 grant and access to a dedicated lending circle. Similarly, the Eileen Fisher Women-Owned Business Grant awards $100,000 annually to women-owned sustainable businesses. The IFundWomen platform aggregates opportunities, listing over 50 active grants for women in 2024, ranging from $500 to $50,000 for startups and creative projects.
Corporate programs like the Visa Everywhere Initiative and the American Express Women's Small Business Grants contest offer significant funding, with the latter awarding $25,000 and $10,000 prizes. The FedEx Small Business Grant Contest has awarded over $3 million since inception, with women-led businesses frequently among the finalists. These programs often prioritize innovation, scalability, and community impact. For a comprehensive database of current private grants, check Forbes Advisor.
Education, Housing, and Personal Financial Aid for Women
Women can access free money for education through the Pell Grant, which in the 2023-2024 award year provided up to $7,395 per student. The TEACH Grant offers up to $4,000 annually for students committing to teach in high-need fields at schools serving low-income families. Many universities offer women-specific scholarships funded by endowments, such as the AAUW American Fellowships, which have awarded over $135 million since 1888. The Thurgood Marshall College Fund and the National Society of Leadership and Success also provide scholarships open to women pursuing undergraduate and graduate degrees.
For housing, the HUD Section 8 Housing Choice Voucher program and public housing assistance provide rental support to eligible low-income women and families. The USDA Single Family Housing Direct Loan program offers zero-down payment options in rural areas. In personal finance, the Earned Income Tax Credit (E