Recent times have seen a marked increase in the percentage of women entrepreneurs all over the world. In fact, according to a survey, 40% of new entrepreneurs in the US are now women, and the number of new women-owned businesses is growing at double the rate of male-owned businesses.
The unfortunate part, however, is that these numbers hardly match up with women’s access to capital.
Female entrepreneurs anyway have to confront a number of challenges when it comes to interfacing with customers and business partners. Access to financing should not be another reason of struggle for them.
However, these days, a number of lenders and loan programs have been focusing on supporting women-owned businesses. Besides, there has been a rise in women-only business grants, mentorship programs, and other resources that can help them give a boost to their enterprise. The following are some of the routes that women entrepreneurs can easily resort to:
Some companies today provide quick access to funds for women entrepreneurs. The best part, the requirements of some lenders are not as stringent as traditional banks, though one will need some business track record.
Some lenders provide short-term 3 to 18 months loans for working capital, medium-term 2 to 5 year loans for women who cannot qualify for bank loans, and creative arrangements like invoice financing. When you need to avail an opportunity quickly, applying for an online loan is a good idea. With some lenders like Bajaj Finserv, your loan will be processed within 24 hours.
Business line of credit or a flexi loan is another option of loan for womanowned business, which allows a lot of flexibility. It is good for women business owners who need more flexibility in terms of how they intend to use the funds. You can access a specific amount of money, but you may or may not use all of it. The interest has to be paid only on the funds you draw, and you can pay back whatever you draw in parts how many times you want at nil part prepayment charges. This unique offering is made available to you by reliable lenders like Bajaj Finserv.
If you need just a small amount of capital to jumpstart your business, microloans are the best option. Especially women who run sole proprietorships or home businesses, or work as freelancers or consultants, will find microloans to be the perfect solution for them, as these businesses find it difficult to secure traditional bank funding.
If you are about to start a new business, you will be eligible for it. You can also check out the options of small business grants for women.
Though these are way more restrictive as compared to small business loans, in terms of qualification requirements and what you can use the funds for, the biggest advantage here is that, you won’t have to pay back that cash.
These are also a very practical option when it comes to small business loans for women-owned businesses.
When it comes to raising money for your business, debt financing and equity financing work towards the same goal but are very different from each other. In case you need a capital loan to start a new business or scale your business, working with an investor can be a great option. However, you must keep in mind that it can be challenging to find interested investors unless your business is soon to witness massive growth.
Investors show an inclination to work with businesses that can ensure a huge return on their investment. Especially as a woman, you might find it all the more challenging to convince VC firms to invest in your business. The investors might be unfamiliar with your product or service, or they might be somewhat reluctant to trust you with large amounts of money. Some women these days, are starting their own VC firms, with the focus being on funding other women-owned businesses.
Lenders like Bajaj Finserv can prove to be of great help as far as financing women-owned businesses is concerned as they understand your growing requirements and aspirations and offer you funds specific for the growth of your firm. Its business loans are accompanied by a number of lucrative terms and features, including online account access, preapproved offers, low interest rate, flexi-loan facility, minimal documentation, quicker processing, and many more.
The unfortunate part, however, is that these numbers hardly match up with women’s access to capital.
Female entrepreneurs anyway have to confront a number of challenges when it comes to interfacing with customers and business partners. Access to financing should not be another reason of struggle for them.
However, these days, a number of lenders and loan programs have been focusing on supporting women-owned businesses. Besides, there has been a rise in women-only business grants, mentorship programs, and other resources that can help them give a boost to their enterprise. The following are some of the routes that women entrepreneurs can easily resort to:
Some companies today provide quick access to funds for women entrepreneurs. The best part, the requirements of some lenders are not as stringent as traditional banks, though one will need some business track record.
Some lenders provide short-term 3 to 18 months loans for working capital, medium-term 2 to 5 year loans for women who cannot qualify for bank loans, and creative arrangements like invoice financing. When you need to avail an opportunity quickly, applying for an online loan is a good idea. With some lenders like Bajaj Finserv, your loan will be processed within 24 hours.
Business line of credit or a flexi loan is another option of loan for womanowned business, which allows a lot of flexibility. It is good for women business owners who need more flexibility in terms of how they intend to use the funds. You can access a specific amount of money, but you may or may not use all of it. The interest has to be paid only on the funds you draw, and you can pay back whatever you draw in parts how many times you want at nil part prepayment charges. This unique offering is made available to you by reliable lenders like Bajaj Finserv.
If you need just a small amount of capital to jumpstart your business, microloans are the best option. Especially women who run sole proprietorships or home businesses, or work as freelancers or consultants, will find microloans to be the perfect solution for them, as these businesses find it difficult to secure traditional bank funding.
If you are about to start a new business, you will be eligible for it. You can also check out the options of small business grants for women.
Though these are way more restrictive as compared to small business loans, in terms of qualification requirements and what you can use the funds for, the biggest advantage here is that, you won’t have to pay back that cash.
These are also a very practical option when it comes to small business loans for women-owned businesses.
When it comes to raising money for your business, debt financing and equity financing work towards the same goal but are very different from each other. In case you need a capital loan to start a new business or scale your business, working with an investor can be a great option. However, you must keep in mind that it can be challenging to find interested investors unless your business is soon to witness massive growth.
Investors show an inclination to work with businesses that can ensure a huge return on their investment. Especially as a woman, you might find it all the more challenging to convince VC firms to invest in your business. The investors might be unfamiliar with your product or service, or they might be somewhat reluctant to trust you with large amounts of money. Some women these days, are starting their own VC firms, with the focus being on funding other women-owned businesses.
Lenders like Bajaj Finserv can prove to be of great help as far as financing women-owned businesses is concerned as they understand your growing requirements and aspirations and offer you funds specific for the growth of your firm. Its business loans are accompanied by a number of lucrative terms and features, including online account access, preapproved offers, low interest rate, flexi-loan facility, minimal documentation, quicker processing, and many more.
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