Small Business Loans for Women

More women than ever before are deciding to start their own businesses. The number of businesses owned by women in the United States has increased by 68% since 2007, bringing the total number of businesses owned by women up to over 10 million. Businesses owned by minority women are growing at a particularly remarkable rate, rising 265% since 1997.

Businesses owned by women are responsible for employing millions of people across the country and generate over a trillion dollars of revenue every year. But despite the growing number of women-owned businesses, women are still facing many obstacles when it comes to accessing capital. It’s estimated that women business owners are 15%-20% less likely to be approved for a business loan, and women who are looking for money to start a new business receive about 80% less capital than men do.

Luckily, there are various loan programs that are more accessible to women-owned businesses. Below, we detail some of the best financing options or female entrepreneurs looking to grow their business.