Women own 38% of companies in the United States. Small business loans have become critical on the path of success. Getting loans to organizations managed by minority/women is gaining significance in United States. The economy has opened up to provide venture capital to startups. It is very important to decipher the means of finding venture capital. Several institutions are into making such loans available to women. The government offers such loans through its U.S. Small Business Administration or SBA office.
Small business programs for women can be obtained by companies from other financial institutions and banks that serve as a medium for the transfer of loan grants to women entrepreneurs. Filing online applications can accrue loans up-to $ 150,000 for women, minority and veterans. Preference is given to women from lower or middle income groups. The small business loans for women have turned out to be seed capital for many industries.
Short term working capital or loan programs are made available to women entrepreneurs. Women can find loans up to $ 200,000. Business loans for women that are government supported can take forms like 504 credits, 7(a) loan program and other SBA supported schemes. Support is extended to women specifically for new and existing businesses. The ‘New Business Grant’ and ‘Grant existing business processes’ are two programs meant for women entrepreneurs. ‘New Business Grant’ can bring loans up to $100 to $5000 and the existing process offers business grant of $ 1000 to $ 5000. The presence of so many programs makes it easier for women and minorities to find Small business loans.
This article was submitted by Raj Tulshan, Director of Business Development of Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to