How to Get a Small Business Loan For Women

Securing financing is one of the biggest challenges for women entrepreneurs who want to start or grow a business. According to the Federal Reserve’s 2016 Small Business Credit Survey, women-owned businesses are less likely to access funding and have higher rejection rates than their male counterparts. Fortunately, there are a variety of resources that can help women entrepreneurs find the right type of financing for their needs.

For example, the Small Business Administration’s suite of financing programs may be the best way to get a small business loan for women who can qualify for them. This includes the SBA Express and 7(a) loans, which offer low interest rates on working capital for a few years, and the SBA microloan program, which offers a bit more flexibility in terms of qualifications for startup or early stage companies. Other options include online lenders like Funding Circle, which provides flexible short-term loans of three to 18 months for working capital, and Noble Funding, which provides an accounts receivable line of credit based on your invoices.

In addition to traditional small business loans, it’s also possible to secure equity financing from investors who will give you money in exchange for a stake in your company. This type of funding isn’t as readily available as loans, and it tends to be more restrictive in terms of qualification requirements, but it can be a good option for entrepreneurs who need significant amounts of cash to scale their businesses. small business loans women

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