Starting a business before you have made any sales can make it harder to find funding. Many business grants ask about revenue, customers, or financial records, so it is easy to assume that you need to be making money before you can apply. But that isn’t always the case. Some grants actually allow women to apply before they make their first sale. Others are designed for new businesses or have no minimum revenue requirement. The key is knowing which programs are open to businesses at your stage and what they expect from applicants.
If your business has no revenue yet, here is what you need to know before you start applying.
Can You Get a Business Grant With No Revenue?
Yes, you can get a business grant without having revenue, but it depends on the grant. Some programs are created specifically for new businesses and allow entrepreneurs to apply while they are still getting started. Other grants require a business to have been operating for a certain period or to have reached a minimum level of sales.
One example is the Amber Grant, one of the most well-known business grants for women in the US. It’s open to women whose businesses are still in the idea stage or have generated less than $10,000 in sales. Additionally, women who have not yet started their businesses can apply for this grant.
So, having no revenue does not automatically disqualify you. But you still need to check the rules for each grant before applying.
Our guide to small business grant eligibility explains some of the most common requirements to look for.
What Grants Can Women With No Revenue Apply For?
There is no single list that every woman with a new business will qualify for. Your options depend on your location, industry, business stage, and each grant’s rules. Here are some of the business grants for women with no revenue:
Amber Grant Startup Grant
WomensNet awards a $10,000 Startup Grant each month. It defines a startup as a business that is still in the ideation stage or has made less than $10,000 in sales.
Women who have not yet started their businesses can also apply.
Note: There is no separate application just for the Startup Grant. One Amber Grant application puts you in consideration for the monthly grants for which you qualify.
Related post: Amber Grant for Women: Eligibility, Funding, and How to Apply
HerRise MicroGrant
The HerRise MicroGrant gives $1,000 each month to qualifying women-owned businesses. The program focuses on supporting under-resourced women, including women of color entrepreneurs, which makes it worth adding to your list if you are searching for business grants for black women.
The business must be at least 51% women-owned, registered in the U.S., and have less than $1 million in gross revenue. There is no stated minimum revenue requirement.
This does not mean every business without revenue will qualify. You still need to meet the other rules and provide information about your business.
America’s Seed Fund SBIR/STTR
Women developing new technology or conducting scientific research may also have another option through the federal SBIR/STTR programs.
These programs provide funding to eligible small businesses engaged in research and the development of new technologies. They can support areas such as health, agriculture, energy, science, and technology.
This is not general startup money. You cannot apply simply because you need money to open a business. Your project needs to involve research or the development of something new.
For the right technology business, however, having little or no revenue does not necessarily prevent you from applying.
Related post: America’s Seed Fund SBIR/STTR: Eligibility, Funding & How to Apply
What Do Grant Providers Want to See If You Have No Revenue?
If you cannot point to sales growth or a long list of customers, you should at least be able to explain why the business has a good chance of succeeding.
Start by explaining what your business does and who it is for. A reviewer should be able to understand your idea without knowing anything about your industry.
Then explain what you have done so far. If you have spoken to potential customers, tested your product, built a website, created samples, found suppliers, or started building an audience, tell the reviewer.
Your plans for the grant money also matter. Explain what you will spend the money on. Maybe you need equipment to start production. Maybe you need software to set up your business. Perhaps you need money to create your first products or launch your website. Be as specific as you can.
Can You Get a Grant Before You Register Your Business?
Sometimes. Some grants require a registered business, while others allow people to apply while they are still developing their business idea.
The Amber Grant is one example. Women who have not yet started their businesses can apply for the Startup Grant. Other programs have stricter rules. HerRise, for example, requires the business to be registered in the United States.
So don’t assume that you need to form an LLC before you can apply for grants. Check the requirements for each program first.
At the same time, do not register a business only because you found one grant that requires it. Choose a business structure that makes sense for your business.
How Can You Improve Your Chances of Getting a Grant With No Revenue?
The biggest mistake is trying to make the business look bigger than it is. If you have no revenue, say so. Then explain what you have done and what you plan to accomplish.
Your application should answer some basic questions:
- What does the business do?
- Who are your customers?
- What problem does your business solve?
- What have you done so far?
- What will you use the grant money for?
- What will happen after you receive the money?
Your answers do not have to be complicated. In fact, simple and clear answers are often easier to understand. Take the time to explain the business in your own words. Avoid sounding like a large corporation if you are running a small startup.
And make sure your funding request makes sense. If you are asking for $10,000, explain how the money will be used and why those expenses matter at this stage of the business.
Related post: Can You Use a Business Grant to Pay Yourself?
How to Find More Business Grants When You Have No Revenue
- Start by looking for grants that mention startups, early-stage businesses, new businesses, or pre-revenue businesses in their eligibility rules.
- Then expand your search. Some grants are available based on your industry rather than your gender. Others are offered by states, cities, nonprofit organizations, or companies and may be open to women even though women are not their only target group. You can use our guide on how to find business grants for women to broaden your search.
- Don’t forget to look at location-based opportunities.
In conclusion, business grants for women with no revenue are available, so you don’t have to wait until your business is profitable before you seek funding. The key is to find programs that align with your stage of business and then clearly explain your idea, progress, and plans.
You do not need to pretend that your business is already successful. Instead, show the funder what you have done so far and explain exactly what the money would help you accomplish.
The best grant for a new business is not necessarily the one offering the largest amount of money. It is the one whose requirements match your business and whose funding can help you take the next important step.
