Small Business Loans for Women

LEARN MORE IN OUR BIZFLY SMALL BUSINESS LOANS FOR WOMEN GUIDE BELOW

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.

Small Business Loans for Women Guide

What Are Small Business Loans for Women?

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.

How is a Small Business Loan for Women Different?

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.

Can I Get a Small Business Loan for Women With Bad Credit?

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.

How Do I Qualify for a Small Business Loan for Women?

Qualifying for a small business loan for women is easy. While every business and individual are unique, and no lender can guarantee approval, the basic requirements to apply are quite limited – meaning most businesses owned and operated by women can easily meet the requirements.

There may be additional requirements depending on the amount to be borrowed and other individual circumstances, of course, but in general, the minimum requirements to apply at BizFly Funding include:

  • 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

What Are the Common Uses for a Small Business Loan for Women?

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.

Some of the most common uses of small business loans for women include:

  • 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

How Do I Apply for a Small Business Loan for Women With Bizfly Funding?

With BizFly Funding, you can apply for a small business loan for women online, through our website, in a very simple, quick, and easy process. Pre-approval can be received in as little as 30 minutes, and it will not affect your credit score.

Step 1: Apply
  • Fill out our One Page Application.
  • Submit the last 3 months of your Business Bank Statements.
  • It is free and will not affect your credit score.
  • You must be in business for a minimum of 6 months - No-Startups.
Step 2: Get Approved

As soon as this is submitted completely, it will be submitted to our underwriters and our Funding Specialist will contact you with a few offers to choose from. 

Get an approval within hours after your application is processed.

Step 3: Get Funded
  • Choose one of the offers provided by the Funding Specialist and provide a few extra documents to complete your submissions.
  • Once the underwriters have received the full submissions package – the funds will hit your business bank account within 1-2 business days.
  • In some cases, same day funding can be applied.

Small Business Loans for Women Recap

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

If you have additional questions about a small business loan for women from BizFly Funding, need more information, or help with your loan application, our support team is more than happy to assist you!

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Small Business Loans for Women FAQ’s

Although we have funded business owners on the same day it usually takes 2 days or more depending how responsive the client is with the documents required.

We have helped women business owners receive small business loans with poor credit. Getting approved really depends on many factors related to the health of the applying business.

There are no restrictions on how you utilize your small business loan.

Yes.  You may be eligible for better rates and terms by having a better credit profile as there are a variety of funding types.

For this reason we always encourage customers to improve their credit history where they can before applying if they want the best possible terms.

Please keep in mind that there are many other factors that go into approval decisions so there are additional ways to improve rate and term possibilities.

This depends on whether it was personal or business, and how long ago the bankruptcy was filed.

A minimum of two months is all that is required.

No. We take pride in the privacy we offer our clients, we never sell your information to anyone.

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