Small Business Loans for Women

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Small Business Loans for Women: Our Top Picks
Types of Small Business Loans for Women
1. Business Line of Credit
What Is a Business Line of Credit?
Your business credit rating Your personal credit score The amount of time your business has been running Revenue Your business plan
Why Choose a Business Line of Credit?
Keep in Mind
2. Term Loan
What Is a Term Loan?
Why Choose a Term Loan?
Keep in Mind
3. SBA Loan
What Is an SBA Loan?
SBA 7(a): Small business loans for women with established businesses. Financing up to $5 million for almost any business-related purchase, including property. Additional options include an SBA 7(a) Small Loan (up to $350,000) or an SBA Express loan, which has a turnaround time of 36 hours for qualified applicants.
SBA 504: These small business loans for women are meant to purchase new or existing buildings and land, renovation of property, new construction, or refinancing of debt related to the expansion of your business.
Why Choose an SBA Loan?
Keep in Mind
4. Commercial Real Estate Loan
What Is a Commercial Real Estate Loan?
Why Choose a Commercial Real Estate Loan?
Keep in Mind
5. Equipment Loan
What Is an Equipment Loan?
Why Choose an Equipment Loan?
Keep in Mind
6. Personal Loan for Business Use
What Is a Personal Loan for Business?
Why Choose a Personal Loan for Business?
Keep in Mind
7. Invoice Financing
What Is Invoice Financing?
Why Choose Invoice Financing?
Keep in Mind
8. Microloan
What Is a Microloan?
Why Choose a Microloan?
Keep in Mind
Get Certified As a Women-Owned Small Business (WOSB)
Your business must be small. Your business must be at least 51% owned and controlled by women who are US citizens. Women need to be responsible for your business’s day-to-day operations and making long-term decisions.
Applying for Women-Owned Small Business Loans
Online lender Bank Credit union Peer-to-peer network
Ideally, try to pre-qualify, so you don't have any unnecessary hard credit pulls.
Alternatives to Loans: Small Business Grants for Women
State and local grants Nonprofit grants Grants offered by private organizations
Find Funding for Your Women-Owned Business
Top Picks Methodology
Minimum credit score is 650 or below Minimum time in business is 1 year or less Minimum annual revenue is $100,000 or less No collateral required Interest rates starting at 20% or below Maximum loan term is 25 years or longer Maximum loan amount is $500,000 or higher Simple application (online, no mailing or going to bank required) Time to funds is less than a week Whether it offers 24/7 support (online or phone) Special benefits/terms for the interest group (in this case, women)
Frequently Asked Questions
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About the Author
Lantern is a product comparison site that makes it easy for individuals to shop for products and compare offers with top lenders. Lantern is owned and operated by SoFi Lending Corp., the digital personal finance company that has helped over one million people get their money right.
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