More Business Loans for Women Entrepreneurs are Need of the Hour

July 15 16:04 2019

Women entrepreneurs are rising in numbers, and currently forty percent of new ventures are being floated by women in the USA. Women owned businesses too are increasing fast, but this does not reflect in the loans approved by banks. Only a third of the applications from women are granted approval.

Sector wise, women are more focused in areas such as health, retail, hospitality or education. These are also the industries that aren’t looked upon favorably by investors. Women thus lag behind men, and are also more likely to resort to unsecured loans, where personal guarantee is given rather than collaterals.

For women, there are no special and exclusive business loans available. Businesses owned by women can apply to online platforms and other places for aid, and there are loan programs that serve women. The focus thus shifts to conventional SBA loans, credit lines or microloans. SBA offers loans to women with very attractive interest rates and durations of over seven years.

Women who don’t qualify for bank loans can apply to online platforms, where small amounts or working capital is given for short or medium durations. Alternative financing and invoice financing options are also available. Processing times are short, and even same day approvals are given.

Since women are dominant in cyclical income businesses such as food and retail, they can opt for the very flexible and always available lines of credit. They can withdraw funds as and when necessities arise. Microloans are another very attractive funding avenues for sole proprietors or home based ventures. These do not require impeccable credit records or proof of established business. Though not very popular, there are also business grants available for women.

Women business owners can start their search today on how to find loans for women.

Media Contact
Company Name: Funding Box Co
Contact Person: Viola D. Hayes
Email: Send Email
Phone: (855) 572-7707
Country: United States
Website: fdbox.com

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