Women entrepreneurs are storming ahead amid a host of challenges. The National Association of Business Women reported that in 2017 women were at the helm of over 11 million businesses in the US. Even so, women still rank in the minority column when it comes to business ownership. Consequently, female entrepreneurs find it harder to fund their businesses to optimize growth. They routinely encounter investors that adhere to a different measuring stick when it comes to gender.
Maybe you’re one of those women who experience having limited access to funding. If so, please keep reading because there’s good news. A growing number of financial institutions see the economic plight women face and are willing to help. These lenders focus on supporting women who are starting out or already own small businesses. Here are three hypothetical scenarios about struggles female entrepreneurs face and viable solutions to help them succeed in business.
María—An Innovative Leader
For years, María has provided part-time employment to single mothers. She started a cleaning business and expanded her client base beyond a community outreach. As satisfying as that has been, María knows she needs to keep pushing forward so her business thrives. She’s designing a line of baby products to make life easier for working moms. María intends to apply for annual grants offered by InnovateHER Challenge to pitch her product prototypes and possibly be awarded thousands of dollars. María is also considering the Amber Grant that helps aspiring female entrepreneurs make business dreams a reality.
Anna—Just Starting Out in the Business World
Having just graduated from high school, Anna is from a family that struggles financially. Right now, she has no hope that she can attend college. However, she has an artistic flair and never runs out of creative ideas. At her early age, she’s won prestigious awards for her artwork. The Girlboss Foundation grant recognizes females who are creative, have a financial need, and the astuteness required for business. The foundation helps young women like Anna by offering money to bootstrap businesses that don’t have other means to improve their financial outlook.
Rosemary—On the Bandwagon for Justice
From an early age, Rosemary saw the effects of racial and economic injustices on women. She’s decided her goal to help pioneer the way for women will not be squelched. Rosemary intends to start a business that focuses on initiating political changes that protect the labor rights of women. To move ahead, she’s submitting her proposal to the Open Meadows Foundation that provides resources to change the world. Her start-up organization has a small budget that fits within the guidelines of the grantor.
Learn More about Business Loans and Programs for Women
The three women just mentioned above have stories similar to thousands of other women that stare at what seems like insurmountable financial obstacles. In addition to the grants already referenced, there’s a good chance you’re a candidate for one of the Top Small Business Loans and Grants for Women.
The article details the pros and cons of each type of small business loan so you can pinpoint the loan that’s the best fit for your business. You’ll see at a glance which loan can propel you the quickest toward your financial goals. You may still attend functions geared toward male entrepreneurs and you may meet other business owners that don’t take you seriously. However, you have a support network of financial institutions on your side to help you face monetary fears head-on. Take the next step and click on the article link above and find out the best financing options for your business. A simple click may be what catapults you closer to your dreams.