Best Options for Women to Obtain Small Business Loans

Last Updated on February 11, 2016

Small business loans for women can be hard to come by. That is because traditional lenders are more likely to extend credit to male-run businesses than those run by women. Providing women with an extension of credit may be a smart financial decision based on these latest statistics from the Small Business Administration (SBA):

  • More than 29% of privately-held businesses in the United States are owned by women
  • Over 7.8 million businesses are woman-owned and these employ more than 7.6 million people, as well as generate a total of $1.2 trillion in sales to the economy every year
  • One in five businesses with revenue of over $1 million or higher is owned by a woman

Since business success is often tied to quick access to working capital, those female entrepreneurs who require funds to grow their businesses and who are exploring small business loans for women might want to consider the following:

How to Get Your Business Finances in Order

  • Take steps to reinforce and further build your business credit. Healthy business credit ensures more desirable terms from vendors and lower interest rates on business credit cards.
  • Have a scalable business plan. Make ongoing entries and projections then map how your firm achieved them and then moved ahead to the next milestone. By keeping your business plan up to date, you’ll be able to offer proof to potential lenders and investors as to what you’ve accomplished and where you plan to be in the future.
  • Lenders will require proof of cash flow. By depositing funds into your business account first rather than reassigning checks and credit card payments, you’ll have a paper trail that will prove beneficial when seeking additional funding.
  • Pay your bills on time and pay your taxes early.

Some of the best sources for small business loans for women are alternative funding companies such as National Business Capital. According to the Small Business Administration, the level of startup capital is a strong predictor of future business success. Women seeking additional capital for their businesses who have been turned down by their banks should know that National Business Capital does not require a business plan as part of their application documentation. Therefore it is essential that women-business owners establish a strong financial relationship with National Business Capital as soon as possible to ensure their business’ future.

Our Business Consultants Are Here For You

Our Business Consultants will take a personal interest in you and your business. We will listen to your requirements and strive to find just the right financing your enterprise requires, be it a business line of credit or small business funding. National Business Capital has assisted businesses all around the country obtain hundreds of millions of dollars. Nearly every type of business in every industry has successfully achieved the working capital they require with our assistance and professional guidance.

National Business Capital also realizes that traditional lending institutions may have already turned our applicants down for small business loans for women. In fact, over 70% of our clients have been turned down by their banks for funding. Using realistic underwriting criteria in our loan decisions, we accept over 90% of the funding applications that we receive. For professional consideration and flexible terms should your business require them, please give our Business Consultants a call at (888) 888-9124. We want you to be our next business success story!

Also, be sure to check out our FREE eBook on how to get business funding when banks say no:

National Business Capital & Services is the #1 FinTech marketplace offering small business loans and services. Harnessing the power of smart technology and even smarter people, we’ve streamlined the approval process to secure over $1 billion in financing for small business owners to date.

Our expert Business Financing Advisors work within our 75+ Lender Marketplace in real time to give you easy access to the best low-interest SBA loans, short and long-term loans and business lines of credit, as well as a full suite of revenue-driving business services.

We strengthen local communities one small business loan at a time. For every deal we fund, we donate 10 meals to Feeding America!

About the Author, Megan Capobianco

Megan is passionate about helping business owners along their journey - providing them with relevant content they can use in their day-to-day operations.

Disclaimer: The information and insights in this article are provided for informational purposes only, and do not constitute financial, legal, tax, business or personal advise from National Business Capital & Services and the author. Do no rely on this information as advice and please consult with your financial advisor, accountant and/or attorney before making any decisions. If you rely solely in this information it is at your own risk. The information is true and accurate to the best of our knowledge, but there maybe errors, omissions, or mistakes.