Resources to Find Small Business Loans For Women

Women are a huge part of today's small business. Universities are seeing a huge increase in enrollment by women in finance and business administration programs. So, it should be no surprise that 28 percent of all small businesses are owned by women, and fully 55 percent of all new startup businesses are owned by women.

Just like any other business, being properly capitalized is critical for women-owned businesses. Luckily, many banks specifically offer small business loans for women. Thanks to government programs, in many cases, a business that is majority-owned by a woman can qualify for a loan that a comparable business owned by a man would not have a chance to get.

The effects of this are obvious: according to SCORE, between 1997 and 2002, women-owned firms grew by 19.8 percent while all U.S. firms grew by seven percent. During the same time, the number of jobs created by women-owned businesses grew by 150% of the national average!

Of course, one common characteristic shared by all businesses is the high risk of failure. One of the most common causes for new businesses to fail is not having enough capital. Raising funds can be tough, especially for a new, not-yet-proven, business venture. However, given the obvious demographic shift, and support of many government programs, lenders are typically very willing to accommodate female business owners.

The number one thing that any female entrepreneur can do when looking for capital, is go to her bank and ask her lender if the bank offers any specially designed small business loans for women. Many times, these programs will have special characteristics that cater to the special needs of a woman-owned business.

Some resources that might be useful:

• The Women's Funding Network - womensfundingnetwork.org - Women's Funding Network is more than 150 organizations that fund women's solutions across the globe, making us one of the largest collaborative philanthropic networks in the world. Our members are women's foundations that span public charities, private foundations and funds within community foundations.
• Small Business Administration, Office of Women's Business Ownership - sba.gov/womeninbusiness - Helps women with startup loans and loans for expansion of existing businesses.
• Financial Women International - fwi.org - This is a clearinghouse for information related to female entrepreneurs.

There are plenty of opportunities out there for female entrepreneurs to secure funding for their startup business. Just beware of scams! There are many sites out there that are specifically designed to take advantage of people looking for help. The number one thing to keep in mind is, if they initiate contact with you, you probably shouldn't give them any information until you've checked them out. And remember, if it sounds to good to be true, it probably is!

Steve Hansen is a serial entrepreneur who has had businesses succeed because of solid planning, and business fail because of inadequate capitalization. He would like to see other businesses started with a solid foundation to help make the world a better place. Find out about startup loans for small businesses. You can still get business startup loans in today's economy. ________ Brand your business in 2010! The Brand Unearthing Phase for Networkers, Coaches, Trainers, Solopreneurs, Consultants, Representatives, and other women entrepreneurs and small business owners is available through the Unearth Your Brand Excellence Workbook & E-Course Program. Unearth Your Brand Excellence is a powerful preparatory course to building a brand foundation for your business to set yourself apart from other businesses who seemingly offer the same products and services. In addition, the program is specifically designed to give you the tools to effectively communicate your unique brand promise. Are you ready for brand excellence? More information and updated website coming soon at www.lisahromada.com/