Business loans
for women generally consist of normal commercial lending, loans from the
SBA, Small Business Administration, or sometimes even equity investments.
There IS financing available for women entrepreneurs including grants for
minorities, business grants for women, and government loans. Most options
for women business owners to gain financing can include advances on merchant
account sales, invoice factoring, or even lines of credit at the very businesses
where you purchase your inventory or business supplies. If your credit
is just fair to poor, there are still financing options for you.
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(Rebecca)
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Small business owners realize that applying for business financing or funding is a complicated process and much different than applying for a personal loan or personal credit. When applying for business financing or a business grant you must plan on careful preparation, a smart proposal, and understand the funding process and what it might take to qualify for that small business loan or grant. To qualify for an SBA guaranty, a Small Business Administration loan, a small business must meet the 7(a) criteria. The law protects you when you deal with any creditor who regularly extends credit, including banks, small loan and finance companies, retail and department stores, credit card companies, and credit unions. Anyone involved in granting credit, such as real estate brokers who arrange financing, is covered by the law. Businesses applying for credit also are protected by the law. |