Originally published at entrepreneur.com

In 2014, there were close to 9.1 million women-owned businesses in the United States, a 68 percent increase since 1997, according to The 2014 State of Women-Owned Businesses Report from American Express. This percentage increase exceeded the national average of small business growth by 1.5 times.

It also illustrated what we already know: Women 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.

Understanding grants

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.

Finding federal and state grants

Many business owners think that federal grants are just a click away. We have all seen the ads promoting free federal money to start businesses. But this is a huge misconception. While there are federal grants available in the areas of medical research, science, education and technology development, no such grants exist specifically for women-owned businesses. You may find grants that fund projects that empower women, but such funding is often set aside for nonprofit corporations, not for-profit businesses.

When researching grants specifically for a woman-owned business, start at the state level. Most states offer grants for women-owned businesses in some capacity. Each state website has a business section where you can find grant and funding opportunities for women and minority-owned businesses. A good example of this is the business section for the state of New York, which lists incentives and programs for businesses. Check out your state’s site to find out what is available for your business.

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.

Private grants for women

To help in your search, we gathered information on these private grants for women entrepreneurs started:

The Eileen Fisher Women-Owned Business Grant Program: Five grants are awarded annually. The businesses must be 100 percent women-owned and have founding principles of social consciousness, sustainability and innovation, plus be ready to move to the next phase of development. In 2014, the program awarded $125,000 in grants.

Huggies Brand — Mom Inspired Grants:

The grant awards up to $15,000 to advance the development of innovative products inspired by the joys of motherhood. The awardees also receive resources to further develop their products and startup businesses.

FedEx Think Bigger — Small Business Grant Program:

Applicants are encouraged to share their visions to receive a portion of…[continue reading]

Victoria Treyger is the Chief Revenue Officer at Kabbage.