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Business Loans for Women

Business Loans for Women


What the World Would be Like if Business Loans for Women Didn’t Exist

Not a very pleasant thought.  Is it?

It’s amazing that competent and qualified individuals, especially women, still struggle to secure financing for their businesses. According to a survey by researchers at Pepperdine University’s Graziadio School of Business and Management and Dun & Bradstreet Corp., women who own businesses struggle more with getting financing than small company owners in general.

According to the Senate Committee on Small Business and Entrepreneurship, they only receive $1 of every $23 in business financing. That is staggering. Here are the facts:

  • 37% of the 364 women-owned businesses surveyed said they had sought financing during the previous three months,
  • 25% of the women-owned businesses got bank loans, compared to 37% of all small companies.
  • 39% of women owners turned to savings and other assets to finance their companies.
  • 33% of non-women-owned small businesses turned to personal assets for financing.
  • 60% used personal credit cards
  • 66% borrowed from business credit cards
  • 54% took out personal loans.

There are many theories that we could espouse as to the reasons for these facts.  Rather than propose theorems on the social injustices prevalent in today’s business world, we feel a more positive route is to propose solutions to this challenge.

The traditional route of securing a business loan is through the bank.  Everyone knows that.  The paradigm shift that started in the mid-2000s is that the banks are not lending, especially to small businesses.  Apparently even less so to women who own small businesses. Alternative lenders are filling that gap.  The traditional barriers that banks use to inhibit the borrowing by women are nonexistent. These new lenders, who have been around for decades recognize that there is a much better model that enables them to offer fair financing to all small businesses.  It has more to do with the health of the businesses and less to do with the traditional scoring models based upon personal credit, personal guarantees, and the assets and or collateral to back the loan. The result is that more women can get a business loan

Countless women are the CEO and the primary business owner of companies operating in the United States. Today numerous effective enterprises, from start-ups to well-established businesses, have gained access to business capital through business loans. Business loans for women are readily offered from a wide range of groups and agencies, both traditional and non-traditional.

Women can find local and federal organizations, government agencies, direct lenders, grants provided on a state and federal level, and banks to name but a few alternatives that can help women business owners get a small business loan for their company. The process for business loans for women is really no different than any other loan, especially the business loan. The difference is that uncovering the “best” small business loan for women, in particular, can assist and bring numerous benefits.

There can be any number of reasons why women need a small business loan. There are as many reasons as there are women looking to get funded.  It can be a simple as just growing and expanding a current business, taking advantage of a great opportunity or maybe creating a brand-new endeavor and you need working capital. Not to mention setting up a franchise, or taking your idea to an incubation center. Whatever the reason may be, all companies run by women can get a substantial business loan through a range of groups and resources.

Business loans for women are purposely tailored so that the woman business owner can juggle the many additional challenges she may face. She must not only support herself, any kids, or other lifestyle elements plus the added business challenges.

Therefore, it’s important to identify what all the costs of running a business might be, ranging from anticipated wages for the owner to the support of her family. As an example, business loans for women are perfect to help set up a home-based business if the overhead costs for an on-site business is too high coupled with the demands of the household. Today’s business loan lenders recognized the value that the home based business offer and can provide competitive rates and terms.

Numerous lenders can help provide the working capital required for inventory, assets, capital equipment, or loans in the future. All business loan applications need an in-depth evaluation. This is regardless of whether it’s through a traditional lending institution like a bank, or using one of the many online lenders like Sunwise Capital. It’s not unusual for an interview either on the phone or in person. Depending on the type of lender will determine whether there is an evaluation of the company strategy along with a review of the business plan. This approach is most common at the banks while the small business loans online lenders will concern themselves mostly with cash flow and your ability to repay the loan.

A pre-qualification is a terrific concept to get a price quote on how much can be obtained at one time. Again, depending on the lender, there may or may not be a fee associated with the qualification. At Sunwise Capital there is never a cost or obligation to take the loan.

There are lots of banks and lending organizations that fund business loans for women. There are also three creative and not often used methods for women to get business loans:


The Minority Business Development Agency

They work with Wells Fargo and can produce a tailor-made small business loan program customized for your business requirements. These Centers can help women evaluate and develop business strategies, provide them to business rivals, and help use them for business incubation.

Business Incubation Centers

They provide business assistance and they typically offer services and resources to start-ups and recently established companies. Business Incubation is a fantastic way for start-up companies to get access to expert services that can help lift the business get off the ground.

Business Competitions

They can help get an innovative concept or novel standard off the ground. These are normally non-traditional lenders and perhaps even private moneylenders. They can open help you network to obtaining a more traditional business loan. Just like on Shark Tank a great presentation can be given exactly what you ask for or need to start. Naturally, this does not preclude you from entering other contests. Corporations or private financiers often sponsor business strategy competitors. They may or may not provide the loan, however they can bring some excellent connections and referrals for future growth.

These Centers can assist women evaluate and write your corporate business plan and develop the company strategies, send them to competitors, and help use for company incubation. Business Incubation is a terrific idea for the startup company, as the professional services can assist get the business off the ground.

Getting a business loan for women is relatively easy to get started. It can be anything from home-based businesses, startup companies, or simply bringing a well thought out business plan to the bank. Many lenders will customize and produce a personalized loan amount for the woman business owner.

Countless businesses are owned and run by women in the United States today, and lots of successful enterprises have both grown and expanded with the capital successfully gained through a business loan. Whatever the reason might be, all businesses run by women can qualify for a sizable business loan through a range of groups and resources.

Remember, all loan applications require a complete review. This may be a manual process with your traditional banks or the more automated processes conducted by online lenders. The difference is approvals that take sometimes up to 90 days by the former while the latter can have you approved and funded in 24 – 48 hours. APPLY NOW.

There is a good chance there will be an interview. Again the difference is in person at the bank and by telephone with your online lender. Lastly, the bank will want to see the business plan and approximately another 20 odd documents. The online lender will make the determination on the one-page application and 3 months of bank statements.   They may require the 1st page of your last tax return and a current P&L depending on the loan amount.


Mark Kane 2

Mark J. Kane, Founder & CEO of Sunwise Capital, is a distinguished entrepreneur with over 16 years in business financing. Beginning as a psychologist, he quickly became a trailblazing Hospital Administrator. Mark has built multiple ventures, notably accelerating a startup to $18M within months. His transition to Sunwise Capital stems from a deep-seated desire to empower business owners with strategic financial solutions. Recognized for his expertise, Mark's leadership at Sunwise Capital reflects his commitment to fostering business growth and success. Click the link to read more about the author.

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