One of the cornerstones of a healthy community is a vibrant and diverse small business sector. The federal and state governments offer a variety of programs and support for women owned small businesses.
Use these resources to help to start of expand your business
Learn More about SBA Women's Business Centerssee here
Women's Business Centers (WBCs) stand for a nationwide network of nearly 100 instructional centers throughout the United States and its territories, which are created to help women in beginning and growing small companies. WBCs seek to "level the playing field" for women entrepreneurs, who still face unique obstacles in business world.
SBA's Office of Women's Business Ownership (OWBO) oversees the WBC network, which provides entrepreneurs (specifically women who are economically or socially disadvantaged) comprehensive training and counseling on a range of topics in numerous languages.
Find a WBC Near You
close this section
Many of the SBA programs offering Small Business Grants, Loan Programs and Counseling Programs for women are offered through universities and centers.
The Historically Underutilized Business Zones Empowerment Contracting Program provides federal contracting assistance to eligible small businesses located in underutilized business zones to improve their employment opportunities, investments, and their area's economic development.
SBA Low-Interest Disaster Loans
Disaster loans can be utilized for the repair and rebuilding of non-farm, private sector disaster losses, and are available to all types of business, instead of being restricted to small businesses alone.
HUBZone Certification Program Webinar
This video explains the basics of the HUBZone certification program for small business federal contractors.
HUBZone certification allows certain small businesses to compete for set-aside contracts aimed at spurring investment in low median income or high unemployment areas.
SBA 8(a) Business Development Program Webinar
This video explains how the SBA's 8(a) Program works, its eligibility requirements, technical assistance available to small disadvantaged businesses through the program and common myths about the program.
Local Assistance from the Small Business Administration
The Small Business Administration has many local offices and resource partners that counsel, mentor and train small business owners and entrepreneurs.
These nearby offices and online assistance can help your business start up, succeed and grow. This short video provides a good introduction to services near you.
Small Business Administration Resources for Veterans
The Small Business Administration offers various resources for veterans interested in starting, financing or growing their businesses.
We've read stats showing that Blacks have a buying power of $1.2 Trillion dollars and that Black women are starting businesses at a faster rate than any other group, but is this enough to change the economic inequalities that plague Black neighborhoods?
SCORE Services to Small Business - An Introduction
In an excerpt from a 2010 interview the SCORE CEO discusses its counseling and workshops offerings to small businesses.
The Creative Role That One CDFI Plays in Impact Investing
Antony Bugg-Levine, CEO of the Community Development Financial Institution Nonprofit Finance Fund, manages $80 million of impact investments. He is also the author of Impact Investing: Transforming How We Make Money While Making a Difference.
Next 9 >>
Featured Government Grant Resources
Federal and State Technology Partnership Program
The Federal and State Technology Partnership Program works around the objective of being able to boost and strengthen the technological competitiveness of small business establishments in the United States of America.
Minority Business Enterprise Centers for Minority-Owned Businesses
The The Minority Business Development Agency has recently constituted the Minority Business Enterprise Centers (MBEC) Program wherein it aims to support minority-owned businesses by providing them with electronic and one-on-one business development services for a reasonably nominal fee.
Millennials often get flak for being picky,narcissistic and fickle, especially when it comes to doing business. While unemployment struggles often reach more people in younger generations,these seven millennial entrepreneurs featured in the Huffington Postare too busy creating positive social impact, changing other people’s lives and theirs.
Find SBA Assistance in Your Locale
Need Business Advice?
Learn How SCORE Can Help Your Business
Have an Idea?
Find Funding for Your Invention
Grant Scams?
Learn How to Identify and Avoid Grant Scams
'); }; }); }); }; // Callback function to create HTML result var _callback = function(e, feeds, options) { if (!feeds) { return false; } var html = ''; var row = 'odd'; // Add header if required if (options.header) html += '
' + '' + feeds.title + '' + '
'; // Add body html += '
'; // Add feeds // take out the loop //for (var i=0; i
' + '<' + options.titletag + '>' + entry.title + '' + options.titletag + '>' if (options.date) html += '
' + pubDate + '
' if (options.content) { // Use feed snippet if available and optioned if (options.snippet && entry.contentSnippet != '') { var content = entry.contentSnippet; } else { var content = entry.content; } html += '
Women can get small business loans from the same sources other individuals seek small business financing from. This includes banks, credit unions, online lenders and any alternative lender or lending solution as long as they meet the lender's requirements.
If your business doesn't have a FICO SBSS score, SBA lenders may look at your personal FICO score (which ranges from 300-850). In that case, you'll generally need a minimum score between 620 and 650, depending on the type of loan and lender.
Although women own 38% of all businesses in the U.S., according to the Women's Business Enterprise National Council, they often face obstacles when obtaining financing. In 2022, 25% of women-owned businesses were rejected for a loan, compared to 19% of male-owned businesses.
SBA Express loans provide small businesses and startups like yours with up to $500,000 — and in record time. Entrepreneurs can get approved in as few as two or three days, making them one of the fastest options for funding out there.
Reasons you may be disqualified from a small business loan include a low credit score, poor cash flow, no collateral, significant debt, a bad business plan or having a business in a risky industry.
This EIN allows your LLC to open bank accounts, apply for loans, and build credit in its own name. An LLC starts with no credit score. Just like an individual, an LLC must build its credit over time by engaging in responsible financial behavior, such as taking out loans and lines of credit and making payments on time.
The minimum credit score required for an SBA loan depends on the type of loan. For SBA Microloans, the minimum credit score is typically between 620-640. For SBA 7(a) loans, the minimum credit score is typically 640, but borrowers may find greater success if they can boost their credit score into the 680+ range.
A down payment for an SBA 7(a) or 504 loan ranges from 10 percent to 20 percent. For loans from banks, credit unions and alternative lenders, you may see down payment requirements that range from 10 percent to 30 percent — and some lenders that don't require any down payment.
There are no federal grants for starting a business. But small business owners can get money in different ways. This includes using personal funds, finding investors, or taking out loans.
Startups in California have access to a variety of loan types, including traditional bank loans, microloans, and non-profit lenders offering competitive terms. The Accion Opportunity Fund, for example, is tailored to assist small businesses with their specific needs.
Women have come a long way since President Reagan signed the Women's Business Ownership Act into law in 1988, creating government support for women business owners and eliminating the requirement of male co-signers on loans for female entrepreneurs.
Getting a personal loan with a co-signer that has a strong credit score and a solid income can boost your application. Your co-signer – ideally, a family member or close friend – will apply alongside you, and you'll both be responsible for repayment of the loan.
Do SBA loans require a down payment? Yes, the minimum SBA loan down payment requirement is 10% for 7(a) and 504 loans, although this amount can vary based on a business's cash flow and collateral. For example, weak cash flow or low-value collateral can increase the down payment requirement to 30% of the loan amount.
It can be difficult to qualify for a small business loan. Lenders place many requirements on business loans, including minimum credit scores, annual revenues and time in business.
First, women who want to pursue entrepreneurship are less likely to get the funding required to start a company, which naturally inhibits them from chasing their dreams. Another reason women tend to start fewer companies than men is that they often lack the "overconfidence" of most male startup founders.
Normally, businesses must meet SBA size standards, be able to repay, and have a sound business purpose. Even those with bad credit may qualify for startup funding. The lender will provide you with a full list of eligibility requirements for your loan.
Introduction: My name is Rev. Leonie Wyman, I am a colorful, tasty, splendid, fair, witty, gorgeous, splendid person who loves writing and wants to share my knowledge and understanding with you.
We notice you're using an ad blocker
Without advertising income, we can't keep making this site awesome for you.
