Women’s Foundation of Arkansas creates grant fund to assist women-owned small businesses in the wake of COVID-19

News

LITTLE ROCK, Ark. (News release) – The Women’s Foundation of Arkansas (WFA)
announced the creation of a grant fund to provide assistance to women-owned small businesses
experiencing hardship in the wake of COVID-19 today.

Women Owned: WFA’s relief fund for women owned small businesses is currently a $50,000
fund with initial investment from WFA’s own grant pool and funding from the Winthrop
Rockefeller Foundation. WFA aims to raise an additional $50,000 for a total of $100,000
granted out to women owned small businesses in the state. Grants will be $5,000 each.

“In the face of this unprecedented disruption to our economy, the WFA is prepared to champion
some of our most vulnerable businesses,” said Anna Beth Gorman, executive director of the
Women’s Foundation of Arkansas. “Women, particularly minority women, have faced
historical disadvantages accessing the capital necessary for a business to thrive and the WFA is
providing grant funding as a resource to these business owners during this time of economic
hardship created by COVID-19.”

Arkansas businesses experiencing economic hardship due to COVID-19 that employ fifty
individuals or less and are 100 percent owned by women will be eligible to apply as long as all
their taxes are current and they are operating by law with all required permits. Applications
will also be prioritized based on counties with confirmed cases of COVID-19 and high rates of
business ownership among women, as well as industries mandated by state or local officials to
close. Seventy-five percent of the funding will be dedicated to businesses owned at least 51
percent by a woman of color.

Applications are due Monday, April 13, 2020. The first half of funding will be announced by
Friday, April 17, 2019. Applications not funded in the first round will automatically be
considered for the second round. Eligible businesses can apply for funding at
www.womensfoundationarkansas.org/women-owned.

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