Where to Get Funding for Small Women Businesses

Business identityDespite the need for skills and determination to start a small business, there is a need for money. Competitive business environment makes it harder. Women being the fair gender face more challenges due to market constraints. Such constraints include limited access to information and bias.

In the U.S women own 39% of all companies. Although the numbers seem good there is the need for improvement towards reducing the gap between male and female-owned businesses.

Five best sources of loans for small women businesses

  • Local female-centered group loans within your region – women-owned businesses have overwhelming support from many states. Information such as cash flow projections, income tax, credit authorization, and financial statements are required. Though the loans might be small depending on location, the most significant advantage is adequate time to pay back.
  • Peer-to-peer business loans. Lending club is among the platforms of peer to peer lending. The lenders act as a connection between investors and clients in need of money. This form of loans has no restrictions regarding spending. The loans have no restrictions on use and are offered in flexible terms. The business though has to meet some revenue score to acquire the loans.
  • Small business administration loans. The loans have meager interest rates and are offered to small businesses whose credit score can’t qualify for other investments. These loans require collateral and a healthy business plan. The most significant disadvantage is the time needed to secure the loan as well as the difficulty in acquiring it.
  • Traditional banking institutions loans. These include banks and insurance agencies. Loans from these institutions have a constant interest rate. Research has shown that banks usually process long for businesses to reduce the motivation for small businesses likely to fail. For this kind of loan, the company must provide collateral such as building, land or vehicles.

The above discussed are the most accessible and reliable channels for women loans to start a business. Other channels include bootstrapping, invoice factoring and selling business equity to potential investors. This help women businesses which don’t have enough revenue or collaterals to secure loans from banks.

Why is it hard for small women businesses to get loans?

  • Small community finance institutions have vanished. More prominent institutions have submerged the smaller community banks. These big banks are not willing to give small loans to these women businesses due to high risks. This hinders the growth of potential companies owned by women.
  • Modern business is more of service provision oriented. These businesses lack the criteria such as collaterals required by banks to give loans.
  • Venture capital is only concerned with companies with relatively high potential to grow.

Women being minority groups face a more significant challenge in acquiring financial support for businesses. The founder of CCVRS, INC., Craig Lambert ascertains that a company can only be successful if there is some risk involved. There is a need to reduce gender biases to secure women loans to start a business venture.

Top Fields That Will Always Need Workers

jobWhen it comes to deciding what you want to do with your life, there are a few fields that merit a second look. The idea is to choose a profession that will always need workers, but also one you can be passionate about. There are even some careers that you can make a business out of, giving you the best of both worlds.

Medical Industry

When it comes to the medical industry, there’s no doubt that you’ll always have a place to work. People will never stop getting sick and needing some type of medical care. If you have a passion for helping people, it’s a career worth looking into. You can choose to work in pediatrics, geriatrics or general medical care fields. Maybe you’d rather go into dentistry. These are all options that are open to you.

Whether you study to be a doctor, nurse or even an office position such as a medical coder, there are always jobs that need to be filled. New medical clinics open and hospitals expand, all calling for more qualified professionals to fill the spots. Who knows, you might even end up wanting to open your own clinic and with the help of a group purchasing organization, it’s easier than ever to get started, no matter what your specialty is.

Accounting and Taxes

Where there’s a business, there’s a need for an accountant or tax service. Many business owners don’t know how to wrap their head around the numbers and that’s where your skills come into play. Even if you don’t think you’re good at math, the good thing is you don’t have to be. Accounting is knowing where the numbers go: the adding machine and formulas do the rest of the work for you.

If you continue your education, going so far as to get your masters degree, you can become a certified public accountant, or CPA, and branch out on your own. If you decide that being a CPA is not for you, there are other avenues to explore such as a bookkeeper, staff accountant, accounting manager or even a controller.


If you’ve always liked to argue and present your case to people to make them see your point of view, you might have a future as an attorney. Whether it’s representing someone in a business deal, offering legal advice or even defending the accused against charges, there are so many niches you can specialize in. Some attorneys work for large practices while others work as part of a corporate company offering in-house advice and handling legal matters pertaining to the business. Others still decide that they want to work on their own and open a private practice.

Whether you’re a student looking for career options or an adult who wants to further themselves, you have plenty of options at hand. These are just a few avenues that you’re sure to find work in, but the most important thing is that you follow your heart and pick a career track that’s going to make you happy.