Best Options for Women to Obtain Small Business Loans

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Thursday, February 11th, 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!

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