Historically, being a woman was not particularly advantageous in the business world. Even today, women have to work much harder to find equal footing with men, and often still for less pay. However, there have been some strides made in an effort to level the playing field, and one of these has been the emergence of small business loans for women.
There are several types available, including startup business loans for woman as well as expansion or growth loans. Accessing such loans has its advantages, and in truth, there is no better time to be a woman opening her own business than right now.
The Best of Both Worlds
As a woman wishing to open her own business, you have the option of applying for both traditional business loans and those designed specifically for women. Take advantage by applying for both types. You may find that startup business loans for women have better terms or lower interest rates, or you may see that a traditional loan option is available that fits your situation even better.
What is Available?
There are loans available to women who are looking start a small business and those that are already business owners. Current owners will find expansion loans and equipment loans available to improve and grow their existing business. Budding entrepreneurs will find that there are funds available to cover startup costs related to opening a business. When contacting lenders, be certain to ask specifically for which type of funds you need.
Government Business Loans for Women
While the federal government does not offer small business loans directly, the Small Business Administration (SBA) works as its agent in supporting women in business, as well as veterans and minorities. The SBA outlines multiple loan programs offered, but each one requires finding a traditional lender that works with the SBA in offering these loans to women. Through the SBA, the government secures the funds loaned, allowing lenders to offer those funds to women in small business while minimizing their risk.
If you are looking for small business loans for women, Biz2Credit can help. We have a network of over 1,200 lenders that offer loans of all shapes and sizes. Fill out a simple form and we can connect you with those in our network that offer the perfect financing products for your business and unique situation. Visit Biz2Credit.com today to find out more.