Female entrepreneurs who live in certain states may have access to special business loans for women. California offers the Women’s Economic Ventures Small Business Loan Fund, which aids women entrepreneurs who do not meet the criteria for a traditional loan. Other states that have similar programs include Delaware, Illinois, Iowa, Massachusetts, Mississippi, New Jersey and New Mexico. Check with your state to see if you have access to programs that focus on funding for women. Qualifications as a “Woman Owned Business” also vary by state so learn what your state’s requirements are when setting up your company.
There are also organizations that provide business loans for women entrepreneurs at the national level. Accion USA specializes in lending up to $50,000 to women entrepreneurs and others who can’t find traditional funding. Another group to check out is the Women’s Funding Network. The U.S. Small Business Administration is a fantastic resource for women entrepreneurs.
Want to discover more? Visit the Small Business Administration’s site for tools that help small business owners locate groups that offer business loans to women.
Join the GlassCeiling.com conversation. Do you know of others funding sources you can share?