The Spanx by Sara Blakely Foundation donated $5 million to GlobalGiving to establish The Red Backpack Fund. GlobalGiving will be making at least 1,000 grants of $5,000 each to female entrepreneurs in the U.S. to help alleviate the immediate needs and support the long-term recovery of those impacted by this crisis.
The goal of The Red Backpack Fund is to provide the opportunity for women-owned small businesses and nonprofits to continue to operate and thrive. The Fund seeks to elevate women in this time of need. As Sara has often said, “When you help a woman fulfill her potential, magic happens.”
- You are at least 51% majority women-owned
- You have withheld payroll taxes for at least one employee in addition to yourself (unfortunately, we are unable to accept applications from sole proprietors or individuals who exclusively employ contractors at this time)
- You are registered in the U.S. and its territories as a legal entity and have a valid EIN number
- You have fewer than 50 employees
- Your annual revenues did not exceed $5M in any of the past three years
- You are 18 years or older
– The application will take about 30 minutes to complete.
– Once your application has been submitted you cannot go back to change your responses.
– If you are eligible for this program and fill out all necessary fields in the application, you will see a confirmation screen after hitting “submit.”
– If you are not eligible for this program, meaning, you don’t meet all criteria, you will be notified immediately.
– Its recommended you keep a record of your responses as you will not receive a copy.
– The GlobalGiving team is responsible for the review and selection of Red Backpack Fund applicants and has assembled a 100% women-led team of diverse industry experts to lead the process.
This is just the sort of information that does not always trickle down to our communities. So if you know of any minority women-owned businesses in your community that could benefit from this grant please share this with them. The Red Backpack Fund Application