Small Business Loans for Women - What you should know » Bizfly Funding (2024)

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Small businesses loans for women may sound misogynistic at first glance, though nothing could be further from the truth. They’re designed for businesses that are owned and operated by women, which have traditionally been an under-served community from a financial perspective.

Often in the past, they had a harder time accessing capital and credit funds due to discriminatory practices by lenders. Fortunately, this gap is starting to close in many respects, thanks in part to a concerted effort to encourage lending to minority and women-owned enterprises.

A small business loan for women from BizFly Funding is targeted to help and support women-owned enterprises get the funding they need for their operations.

• WHAT ARE SMALL BUSINESS LOANS FOR WOMEN?
• HOW IS A SMALL BUSINESS LOAN FOR WOMEN DIFFERENT?
• CAN I GET A SMALL BUSINESS LOAN FOR WOMEN WITH BAD CREDIT?
• HOW DO I QUALIFY FOR A SMALL BUSINESS LOAN FOR WOMEN?
• WHAT ARE THE COMMON USES OF A SMALL BUSINESS LOAN FOR WOMEN?
• HOW DO I APPLY FOR A SMALL BUSINESS LOAN FOR WOMEN WITH BIZFLY FUNDING?
• SMALL BUSINESS LOANS FOR WOMEN RECAP
• FAQ’S

Small business loans for women are standard, unsecured small business loans with no collateral requirements. They provide lump-sum cash benefits at the time of loan approval, and then the principal and interest are repaid over the loan term, often on a weekly or monthly basis, as per the loan agreement.

As unsecured loans, the interest rates tend to be on the higher end of the spectrum, though in exchange you can gain access to significant funding. In many cases, 60% to as much as 100% of monthly revenues, deposits, and/or receivables can be borrowed.

In force and effect, a small business loan for women isn’t really any different than a traditional, unsecured small business loan. As mentioned in our introduction, however, special attention is given to ensure there is no discrimination or unequal treatment in lending based on the borrower being a woman, or the borrower’s business being a women-owned enterprise.

As there has traditionally been a dearth of capital access, with higher barriers to entry for women in this regard, many lenders, such as BizFly Funding, make special efforts to help remedy this inherent societal bias.

Our goal, like others who offer small business loans for women, is to enable all businesses, regardless of the gender, ethnicity, or other demographics of the owners and operators, to access the capital they need to fund their businesses and achieve success.

One of the benefits of small business loans for women from BizFly Funding is that credit score is not the major determining factor in loan approval. In fact, small business loans for women with bad credit are a specialty!

The required credit score to apply is quite low compared to many other lending products (450 or greater), meaning that even those businesses with poor credit scores or limited credit history can be approved.

Far more important than credit score are factors like the weekly or monthly revenue of a business, how long it has been in business, and so on. Therefore, many small businesses with bad credit can still gain access to meaningful loan amounts at affordable interest rates.

• Estimated Business Loan Term: 2 – 36 Months
• The business must have been in operation for at least 2 months at the time of application
• The business credit score must be at least 500 or higher
• The business must generate at least $8,000 in monthly revenue (requirements may be higher to be approved for larger loans)
• Rates: 12% – 45%*
• Min Business Loan Amount: $10,000
• Max Business Loan Amount: $1,000,000
• Max Number of Negative Days: 4 Within a Month

• Rates depend on duration of funding

Like most unsecured small business loans, there are no particular restrictions on the use of funding for small business loans for women.

They can be used to suit the business’ needs, however the management team sees fit. However, certain types of financial products are more well-suited to certain uses than others.

• Managing existing debt load or gaining access to additional capital to fund operations without collateral requirements
• Paying the ever-increasing rent or lease expenses on office space, warehouse space, and other real estate assets of the business
• Funding marketing and visibility strategies for the company’s products or services
• Investing in limited-lead-time opportunities, such as innovative and emerging technologies, which may not be budgeted for via normal operational expenses

Small business loans for women are a great equalizer, providing access to capital for businesses that are owned and operated by women. Ensuring equal access to funding, regardless of the gender, ethnicity, or other demographic factors of the owners/operators or management team, is critical to allowing businesses to flourish based on their own merits.

Discrimination should have no place in the modern business world. Small business loans for women help to remedy the problems of the past, and provide funding and pathways to success for the future.

• Unsecured loans with no collateral requirements
• Large amount of funding available based on monthly revenue, deposits, and receivables
• Credit scores are not the main determining factor, so small business loans for women with bad credit mean that more businesses can access the capital they need
• Loan amounts, terms, and other details can be customized to fit your particular business needs