Financing Tips for Women Business Owners







This is a guest post by Nick Rojas

The number of women business owners is on the rise – with 11.3 million women-owned businesses reported in 2016, accounting for 38% of total businesses. But the financing tips for women business owners are still limited.

But all of this growth also means more competition for business owners. Unfortunately there are only a certain number of loans, grants, and cash advances to go around – even with lenders who have a commitment to supporting women-owned businesses. This is why research is so significant – to make sure you pursue the right type of financing for you and your business.

Here is your guide to finding financing tips for women business owners:

Connect with The Small Business Administration

The SBA facilities 100s of women’s business centers throughout the country. The goal of these centers is to “level the playing field” for women entrepreneurs. These centers are run by the Office of Women’s Business Ownership. They coordinate programs such on topics such as as federal contracts and how to access credit and capital. People in these centers understand the unique challenges of finding funding as a women in business, and can help you overcome it by finding the right funding for your situation.

Seek Out Bank Programs Designed For Women

Some banks and investment companies have programs set aside specifically for women-owned businesses.  An example is the Key4Women program founded by KeyBank. This program offers customized financial solutions, as well as chances for women to further their education and take part in networking. However, this program is only offered in specific states. Some additional examples to check out would be Goldman Sachs 10,000 Women initiative and the Women’s Business Advocates at PNC Bank.

Apply For Private and State Owned Grants

Grants deserve to be included in this list because you don’t have to pay them back! This means earning a grant is a risk-free form of financing. The difficulty is of course, qualifying for one among many other applicants. But many grants are set aside specifically for women. Groups like the Minority Business Development Agency can help you locate some. There are also private grants to consider – such as Huggies Mom Inspired Grant specifically for products “inspired by the joys of motherhood” and the Wal-Mart Women’s Economic Empowerment Initiative.

You don’t have to make financing decisions all on your own. Connecting with other women business owners and sharing their experience can shed some light on the best option for you. The trial and error work has already been done by those that came before you! And once you’ve done that research, choosing a lender you can trust means creating a relationship that lasts through the ups and downs of your business. The right lender wants to see your business grow – and is going to work with you to make sure you get the funding you need to succeed.

Nick Rojas combines 20 years of experience working with and consulting for small to medium business and a passion for journalism to help readers grow. He writes about technology, marketing, and social media for the aspiring entrepreneur. When Nick is not sharing his expertise, he can be found spending time at the beach with his dog Presto.


By | September 19th, 2017|Business|Comments Off on Financing Tips for Women Business Owners

About the Author:

Barry Moltz gets business owners unstuck by unlocking their long forgotten potential. With decades of entrepreneurial experience in his own business ventures, he has discovered the formula to get stuck business owners and increasing their sales. Barry has founded and run small businesses with a great deal of success and failure for more than 20 years. After successfully selling his last operating business, Barry founded an angel investor group, an angel fund, and is a former advisory member of the board of the Angel Capital Education Foundation. His first book, “You Need to Be A Little Crazy: The Truth about Starting and Growing Your Business” describes the ups and downs and emotional trials of running a business. His second book, “Bounce! Failure, Resiliency and the Confidence to Achieve Your Next Great Success”, shows what it takes to come back and develop true business confidence. His third book, “BAM! Delivering Customer Service in a Self-Service World” shows how customer service is the new marketing. His fourth book, “Small Town Rules: How Small Business and Big Brands can Profit in a Connected Economy” shows how when every customer can talk to every other customer, it’s like living in a small town: Your reputation is everything! His fifth book, “How to Get Unstuck: 25 Ways to Get Your Business Growing Again” helps every small business owners move their company to the next level. Barry is a nationally recognized speaker on small business who has given hundreds of presentations to audiences ranging in size from 20 to 20,000. As a member of the Entrepreneurship Hall of Fame, he has appeared on many TV and radio programs such as CNBC’s The Big Idea, and MSNBC’s Your Business. He hosts his own radio show on AM560, and writes for American Express and Forbes.