Funding for Female Entrepreneurs

Did you know that back in 2015, 30% of all the small businesses in the entire country are made up of female-owned entrepreneurs? Yes, that 30%, by the way provides a total of 7.9 million jobs that produce at least $1.4 trillion in sales.

Women are starting to feel the grasp of the entrepreneurial world and they’re starting to have their own statement in the field. But similar to how men start their entrepreneurship, they would need the best financial help they can get.

So how can you find financing for female entrepreneurs? Does this have different options like how men-owned businesses have?

SBA on Women-Owned Businesses

The Small Business Administration (SBA), the government agency tasked to help and assist small businesses, has special programs that would be able to accommodate women-owned businesses. They range from regular business loans for women, even to minority-owned businesses.

That is one of the few funding options that female and women entrepreneurs can take. But, that’s not all. In fact, there are a lot of other ways on how businesswomen can find the funds that they need for their venture.

Options in Female Entrepreneur Financing

Just like how male-owned businesses role, female entrepreneurs can also exhaust the options they take. These options include:

• Love Money
• Angel Investors
• Bank Loans
• Credit Union Loans
• Lending Company Loans

Love Money

Asking people you know for money so that you can launch your entrepreneurship is one of the most common ways on how you can secure the funds you need. In fact, 11% of entrepreneurs admitted that they first turned to friends and family members when they needed funding for their business.

Even if you think this will be easy, make sure you document everything that would be given to you. Love money can spark a lot of issues that should not be brought up so to be sure, make note of everything.

Angel Investors

An angel investor is an individual that is usually of a high value in net worth that can help businesses get the funding they need. Usually, angel investors get a say on how the company should go. So, when it comes to repaying them, it’s usually going to be equity in the form of them gaining shares or stocks of your company.

Loans

Among all the other options, applying for loans in any kind of institution is what most entrepreneurs have done – they either applied for traditional bank loans, loans from the SBA, from the credit unions, and even loans from business funding and lending companies.

The only downside this has is that you would think of ways on how you can repay even if your business is young. Plus, the interest rates are not a joke – some can even go high amounting to thousands of dollars per year.

In technicality, looking for the best financing options for female entrepreneurs is not that difficult and challenging to find. It’s on the same playing field as what most male-owned businesses are offered, so there’ll be no problem with it.

What Requirements are Needed

The usual requirements that institutions would ask for if you are applying for a new venture would be:

• The business or cash flow projection
• Personal tax returns
• Expected monthly revenue
• Expected annual revenue
• Business plan
• Credit score and history

We here at SoFlo Funding make it to a point that all our clients are given the chance to apply without them finding it hard to secure documentary requirements. We promote the ease of performing applications by not requiring a lot of stuff from them.

In addition to that, we also have the best, the easiest, and the most convenient application processes for any loans you may be interested to apply on.