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Women and Business Loans

More and more women are becoming part of the entrepreneurial world than ever before.  They are finding that they can start businesses that they can run from home so that they can spend more time with their families.    Women are just as successful as men at running a business. This is evidenced by lending institutions as well as the government being willing to lend them money for their ventures.  Women are finding business loans for an online business, photography, catering and real estate businesses just to name a few.

Because women tend to think outside the box they can be very successful in running their own companies.  While women used to have a more difficult time raising capital the times have changed and more money is being loaned to them.  Not only can they find funding to grow their business they can also get a business loan to start a company.  Banks, lending institutions, investors, friends, personal funds and grants are all avenues for women to begin a successful business career.

Many places have business loans that are specifically for women.  Instead of basing the loan on the assets of a company they are more likely to look at the women’s credit, reliability, business experience and their attributes.  Business loans can be approved for amounts reaching two hundred and fifty thousand dollars from some lenders.  There are also loans that are designed for businesses that will be run from the home.  With so many choices women no longer have to sit on the sidelines.

Let’s look at some of the opportunities out there for women to find financing.  The Small Business Association is one of the main resources for women.  You can log onto the Small Business Associations website and look for women in business for information. They are dedicated to helping women start a business or expand their business.  The association has people to assist women in achieving their business goals.  The criteria for a business loan from the SBA may be a little more involved, but the rewards will be great.

An avenue that may be more obscure is one that has other successful women loaning money to women to run a business.  The lady that introduced Take Our Daughters to Work Day back in 1993 is the CEO of Count Me In.  They are loaning anywhere from five hundred to ten thousand dollars, although the maximum amount for an initial application is five thousand dollars.  This funding option looks at experience more so than a credit history.

The government has a source for grants and loans that is different from the Small Business Association.  This software which you can purchase will list grant money especially for women.  You can find out more about this money option online using keywords like federal government and grants. This source could mean that a woman could get money for her business that doesn’t have to be paid back.

If you have a degree you should take a look at an association that is a private resource for funding.  It is called the American Association of University Women.  If you have chosen a business where women are in the minority you stand a pretty good chance of receiving help from this organization.  They hope to be able to support women who excel in their career choices by making them business loans.

Finding the money a woman needs to get her business started or expanding will be easier if you have a social network.  Networking is one way that people have been using for years to get ahead in business.  So it makes sense to use this same system to find a business loan.  If you already know some successful women in business why not ask them how they got started.  Generally they are more than happy to share their stories and some great contacts.  You could find out a specific lender that is more prone to approve a business loan for women.  This can save valuable time in getting your dream up and running.

It does take time to get your business started so you will need to take all the time necessary to research all of your options for financing and to get a comprehensive business plan in place. Show a lender a quality business plan and the knowledge you have of the business and the business world and you are more likely to achieve your goals.

One Response

  1. [...] income, and are influencing the retail markets. They may even have better credit and be able to get business loans for women to finance business ventures more. As a niche, who better to sell to women than other women? [...]

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