business

According to Biz2Credit’s annual State of Women-Owned Small Business Finance Study, the average funded business loan for women-owned businesses was $57,097.

By comparison, the same study found the average size of a business loan for male entrepreneurs was $103,604, nearly double the amount that women entrepreneurs receive.

This is an obvious and concerning problem, especially when you consider women-owned businesses account for over 12.3 million U.S. companies alone. Additionally, these women-owned businesses generate $1.7 trillion in sales and employ roughly 9 million people.

Amongst all privately owned businesses, the ones that are majority owned by women contribute 8% of employment and 4.2% of revenues.

With women-owned companies being such an integral part of the U.S. economy, why are they having such difficulties securing sufficient funding that is more in line with what their male counterparts are receiving for their businesses?

While that question still needs a whole lot of answering, fortunately there are some small business financing programs and companies out there that cater specifically to women entrepreneurs to help bridge the gap.

LendEDU offers some insights on a couple of these initiatives.

KeyBank

Keybank是一家国家小型商务贷款人,实际上拥有一个独特的贷款计划,称为key4妇女,专门为女性企业家预防。

Key4 Women不仅提供了有用的在线资源,旨在向女性小企业主提供咨询,而且还向妇女企业家提供有用的贷款,这些企业家是Key4女计划的成员。

作为一个成员,女性可以访问小普杜拉。布辛ess loans that start at $10,000. For these loans, repayment terms and interest rates will vary depending on amount and the applicant’s credit history.

Key4 Women的贷款可提供高达100%的购买筹资。这些贷款可以无担保或担保,甚至可以由小型工商管理(SBA)支持。

In terms of finding a small business loan for women, KeyBank and its Key4Women program is a great place to start.

Women’s Economic Ventures

女企业家的另一个小型商业融资选择是妇女的经济企业组织,该组织于1995年开始。

This program can provide either start-up or expansion loans to women-owned businesses; both options typically will come with fixed-interest rates and manageable repayment terms.

Through the Women’s Economic Ventures program, women entrepreneurs can access start-up loans that range from $250 to $25,000 or expansion loans that can be as much as $50,000.

The application process for this lending program works like a typical small business lender as applicants will need to provide theirfinancialdetails, in addition to the reasons they need a small business loan, and a decision usually will follow in the subsequent weeks.

Other Things to Consider

For women entrepreneurs in the market for a small business loan, there are a few things they need to consider.

First, they need to make sure all of their paperwork is in order before submitting any type of application. Things they may need include their business credit score, their own credit score, assets and liabilities of the business, annual revenue numbers, legal structure of the business, and reason they are applying for a loan.

Second, they could always consider companies and programs other than those two mentioned above. Some other reputable small business lenders include companies like Funding Circle, Lendio, and LendingClub.

Or, they could go the government route and look into SBA loans that are backed by the federal government. This could be a viable option because SBA loans need to meet certain parameters and are usually guaranteed.

第三,如果他们是房主,他们可以在盒子外面思考,并考虑家庭股权信用额度。此选项将通过偿还抵押贷款,通过他们在家中建立的股权来获取融资。

最终,对于我们有价值的女性企业家来说,这对小型商业融资的所有选择以及我们所有人来说都很重要,以便继续努力关闭男女之间存在的小型商业融资缺口。

In his role atLendEDU,Mike Brown使用数据,通常来自调查和公开的资源,以确定新兴个人财务趋势并讲述独特的故事。迈克的工作,在华尔街日报和华盛顿邮政等主要网点中,为消费者提供了个人金融测量棒,可以帮助他们做出明智的财务决策。

CTA:LendEDUhelps people compare and learn about student loans, personal loans, mortgages, home equity loans, credit cards, insurance, small business loans, and more. At LendEDU, our goal is to help consumers and business owners make educated decisions when it comes to financial products and strategies without having to do all the legwork themselves.

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Woman business owner stock photo by marvent/Shutterstock