While business loans and venture capital can be helpful for funding a startup or small business, women are often left with limited options. While traditional business loan lenders require a personal guarantee, collateral and a lengthy application process, some offer financing that is tailored to women entrepreneurs. In addition, there are several other financing options that can help a woman get started in her business, including startup business grants for women.
iFundWomen is a crowdfunding site that offers up to $5,500 in equity-free funding for woman-identifying founders of early-stage businesses. The company also provides expert startup coaching, professional video production and access to pitch competitions with investors. The Tory Burch Foundation runs a fellowship program for 50 women-identifying entrepreneurs each year to provide them with an array of resources, including workshops and a $5,000 grant.
National Bank of Canada’s Women Entrepreneur Program offers financing for female entrepreneur-owned companies with between $1 million and $10 million in revenue. The program also provides a mentorship and networking opportunities.
Noble Funding is an online lender that offers accounts receivable lines of credit for high-revenue businesses, offering up to $8 million in financing. They offer a fast application process and no need for financial statements or tax returns, as well as flexible terms and competitive rates.
A number of government agencies, large corporations and foundations offer business grants for women. While competition is fierce and funds can be difficult to obtain, these business grants offer an infusion of cash that you don’t have to pay back. business loans women