Have you ever looked for a silver bullet or some garlic and a crucifix to resolve a complicated financial problem?
That’s how many female small business owners feel when competing with their male peers. Thriving in the business world isn’t easy. In fact, it’s extremely hard when you need financing and doesn’t know where to turn.
Here’s some good news and possibly the answer to a monetary dilemma.
There are financial institutions that support female entrepreneurs through business loans and grants for women. You can learn more about these financial tools in the article “Top 20 Small Business Loans for Women” by Camino Financial.
The lenders describe in the article help women push through tough times similar to how the following female business owners did.
For nearly five years, Angela’s art gallery has displayed work from well-known artists to lesser-known painters. Art trends fluctuate between styles since buyers’ taste in art changes quickly.
Angela wanted to create themed spaces that appeal to visitors, collectors, and the general public but hesitated to make changes. She didn’t have enough working capital to keep up with regular overhead costs and make improvements too.
She contacted a local bank but they didn’t seem onboard with her dreams.
Other female entrepreneurs she knows got online loans. This alternative lending doesn’t require collateral, the application is simpler than a traditional bank, and Angela could receive funds within 1-10 days.
After meeting with a contractor, she decides to go for a $50,000 loan, because that’s the amount that’d cover the needed changes. To her amazement, the loan is approved in record time.
Work starts immediately and she reopened the gallery just after 30 days. Angela also set aside money for radio, TV, and online advertising.
Without a doubt, this was a good business decision. After the reopening, traffic increased by 25%. Angela wonders why she waited so long to check out which small business loans for women were right for her.
Known in her community as the “awesome cake baker”, Rebecca was ready to expand her business. To do that, she needed to build up her clientele list, update the website, and increase her workspace.
All those efforts required an injection of money.
She was interested in pursuing business grants for women, her eye was set, particularly, on the Girlboss Foundation. This organization endeavors to empower female business owners that are creative, need finances and are shrewd businesswomen.
A space beside her cake shop was available, it was the perfect solution to provide the extra square footage she needed for baking. Rebecca submitted the paperwork for $8,000 in grant money that she wasn’t required to repay.
Within a few months, she heard from the foundation and was awarded $3,000. She also applied for a microloan to cover the shortfall. Because her personal and business credit has always been excellent, the loan went through quickly.
Rebecca hired an advertising specialist and web designer to increase her business’s exposure and leased the adjoining space. Within months, orders increased by 15%.
She also entered decorating competitions (to increase awareness of her brand) and became a vendor at wedding shows.
With this influx in growth, Rebecca now plans to hire additional kitchen staff. In reviewing her success, she realizes that without lenders who offer small business loans and business grants for women she wouldn’t have succeeded.
Aren’t you relieved to know that small business loans for women and business grants are available?
If you’re in a similar financial position as Angela and Rebecca, you have numerous options to consider. With the right monetary solution, your business can thrive beyond your wildest dreams.
So why not turn your vision for your business into a reality, today?
To read more on topics like this, check out the business category.