Look around you and see the ratio of women running a small business. Not to make an exaggerated statement but we think you can find at least one to three women in the crowd of twenty who run a small business. If you share the same dream but are hesitant to apply for a loan because you don’t have enough money to pay the rent, hire new employees, and purchase inventory then, apply for a business loan for women. Now that there is no issue of the money, pull your socks up, draft a profitable business plan, and get going!
Before we jump onto the plan, let us focus on the funding options. Multiple funding options come under ‘Small Business Loans for Women.’
First, on the list are the term loans. These loans come with the flexible payment, the payment terms of a term loan can last for 1 to 10 years; in some cases, it can last up to 25 years. It is an ideal funding solution to cover the remodeling expenses and you can easily use the funds to pay the rent as well. But make sure to make all the payments on time.
A personal loan has a higher interest rate because you don’t have to offer any collateral. In addition to this, a personal loan saves you from the worry of gathering a long list of financial documents. With $40,000 in your hands, you can run any business you want.
Lines of Credit
A business line of credit provides 24/7 access to the money. For all the women out there, if you need money to buy any equipment or pay the salaries of your employees, this is an ideal funding option to carry all those tasks in a fine manner.
You have been running a clothing store for more than two years, and now you want to switch to marketing and advertising. But you are worried about the necessary cash flow. If you have outstanding invoices, then it is time to take the advantage from it. The lender will fund 80% of the amount. Invoice financing can help you get the funds you need for your business.
If you think these business loans can’t satisfy the financial needs of your business or you think you can’t make the monthly payments, then explore the following grants. Grants have strict eligibility criteria, but they don’t ask you to give the money back. We have penned down a list of grants along with the amount of money that is offered to the winner by the authorities.
- National Association for the Self-employed (NASE) Growth Grants: $4,000
- Eileen Fisher Women-Owned Business Grant Program
- Amber Grant: $2,000
- IdeaCafe Grant: $1,000
- #GIRLBOSS Foundation Grant: $15,000
- Open Meadows Foundation: $2,000
- The Halstead Grant: $7,500
Just like we said earlier, we have taken care of the money. Now let us explore multiple small business ideas for women.
- For those who can market and make an irresistible sales pitch.
If think you have the capability to understand any product and strike a profitable deal with the lender, then you can run a remarkable marketing and sales business. If you are good with words then you can be a content writer, and if look at things from a different perspective than others, be a content creator.
Furthermore, if you think a camera is more than a tool, be a photographer. If people come to you and ask to plan a party for them, you must try out the event planning business. As we are talking about small businesses for women, they can run these sorts of businesses from home, only if they want to. If they want an actual office, small business term loans are available to cover the expenditure.
- For those who are caring and love teaching!
If you have a knack for academics, then you can open up your academic institute to spread the light of knowledge.
In addition to this, who does not need help with college acceptance tests and application? So, if you are a trained teacher then coaching students for the SAT is not a bad idea.
If you love pets, then you start a business of dog walking or pick any of the following options:
- Pet Clinic
- Pet Grooming
- Animal Shelter
A business line of credit can help you set up any small business you want. Want to rent some space to carry out coaching classes? Working capital line of credit can give you the extra cash flow. Want to stock up on the inventory for your animal shelter, you have access to funds via a line of credit.
- For those who have a creative bone!
If you like creating things from a scratch and have an eye for the detail, then you can open a clothing store, run an antique store or start selling handmade items. The best place to go and sell your talent is Shopify or WooCommerce. If you don’t want to be associated with these platforms, then hire some professionals and run a creative campaign on Facebook and Instagram. Don’t to sound like a broken record, but a small business loan for women can give you adequate money.
- For those who are good with numbers.
If you think you are a good organizer and numbers talk to you like words, then you can be a stellar accountant and bookkeeper. Most of the companies hate to crunch numbers, so you can provide a lending hand. Multiple online applications are available to keep the accounts of the business running. Use the funds to hire a team and subscription fee of those apps.
- For those who are tech-savvy.
In a digital world, everyone needs a professional who has some technical knowledge. So tackle projects with big companies, and be a valuable member of the IT team. From the website designing to coding you can run a stable business.
All you need is a will to run a small business; the rest is our concern. We have offered multiple women business loans in the past, and their businesses have turned into a huge success. With 15 ideas, your will and creativity, and our transparent funding, every dream business can become a reality. More power to the women! So head over to our website, and apply for a small business loan from our ‘Business Loan for Women’ category. For more ideas and funding options, you can follow us on Twitter (@Onlinecheck) and Facebook (@Onlinecheck). If you have any question, feel free to call us on our toll-free number at (833) 827-4412, our loyal and keen financial advisor will answer your every question and guide you throughout the way.