WOMEN HELPING WOMEN IN BUSINESS
Complete one application to get matched with multiple custom loan products ranging from $500 to $15 million.
Women business owners continue to face unique challenges when seeking financing. Small business loan approval rates are 15-20% lower for women-owned companies than they are for businesses owned by men. Additionally, revenue and credit scores are lower and operating costs are higher for women.
Despite these challenges, the number of businesses owned by women continues to grow. More than 8.3 million businesses – or 29% of all enterprises – are owned by women (Source: American Express Report on Women-Owned Businesses). Women employ 5.5 million employees and are one of the fastest growing segments of the small business community.
Our platform makes available many types of financing for women. It consists of an extensive network of funding sources and partners who are willing to provide loans for women business owners. These lenders range from traditional banks with loan programs for women business owners to the SBA and community microlenders.
We have helped hundreds of women secure financing to pay off unwanted debt, improve or expand their business, purchase inventory and equipment, meet seasonality challenges, and fund operating expenses.
We are women helping women. Our dedicated team is here to walk you through each step of the business loan application process. We help women entrepreneurs complete the required applications and paperwork and even provide suggestions to improve credit. We compare the terms and rates of each available loan product to help you make educated decisions about your financing options.
Facts and Figures About Small Business Loans and Women Owned Businesses
1. Small Businesses:
Generally counted as firms with fewer than 500 employees
Represent 99% of all employer firms
Provide jobs for over half of the nation’s private workforce and have generated nearly two-thirds of the new jobs over the past 15 years
Pay 44% of total U.S. private payroll and comprise 97% of all U.S. exporters (source: SBA Office of Advocacy’s Research and Statistics)
2. Women-Owned Small Businesses:
Nearly one-quarter of new registrants on Biz2Credit were women-owned businesses
More than 8.3 million businesses — or 29% of all businesses — are now owned by women
(Source: American Express OPEN State of Women-Owned Businesses Report.)
Women-owned businesses in the U.S. employ 40% more people than the top three employers
(McDonald’s, IBM and Wal*Mart) combined (source: American Express OPEN State of Women-Owned Businesses Report.)
Between 1997 and 2012, the number of women-owned businesses grew at a pace that was 1.5 times the national average
(source: American Express OPEN State of Women-Owned Businesses Report.)
The three states with the largest number of women-owned businesses in 2007 were California, Texas, and New York. The three cities with the largest number of women-owned businesses in 2007 were New York City (305,145), LA (136,626) and Chicago (92,132). (source:U.S. Census Bureau’s Survey of Business Owners, Dec. 7,2010)