BMO Celebrating Women Grant Program

The BMO Celebrating Women Grant Program, presented in collaboration with Deloitte, aims to support the advancement of women-owned businesses. This program is an extension of BMO's long-standing commitment to recognizing the achievements and contributions of women, a tradition that has celebrated over 240 women since 2012 through the BMO Celebrating Women Program. The grant initiative was specifically created in 2020 to continue supporting women during the pandemic when in-person celebrations were canceled, demonstrating BMO's dedication to providing financial aid and fostering growth for women entrepreneurs, aligning with its purpose to "Boldly Grow the Good in Business and in Life." The primary target beneficiaries are women-owned businesses operating in the U.S. that meet specific eligibility criteria. These businesses must be at least 51% owned or controlled by women, currently active and operating legally, and have a physical location in one of the selected states. They must also be for-profit with annual revenues of $5 million USD or less and have been in operation selling a product or service for at least two years as of April 1, 2024. The program's impact goal is to provide an additional source of financial aid to these businesses, thereby promoting their growth and resilience. The program prioritizes supporting business growth, welcoming applications that detail high-level plans for new products/services or expansion into new markets. BMO is offering fifteen $10,000 grants, aiming to directly inject capital into these businesses to fuel their development. This focus on financial support underscores the program's theory of change, which posits that direct funding can empower women-owned businesses to achieve their growth objectives, contribute to economic development, and overcome financial challenges, especially those exacerbated by events like the pandemic. Expected outcomes include the successful implementation of business growth plans by the grant recipients, leading to sustained or increased operational capacity and market presence. Measurable results will likely involve tracking the utilization of the $10,000 grants for specific growth initiatives. While the grant duration is not explicitly mentioned, the immediate financial aid is designed to produce tangible improvements in the short to medium term. The program reflects BMO's strategic priority of fostering diversity and inclusion within the business landscape by actively investing in women entrepreneurs.