Nav by Linsey Knerl
April 22, 2019
The impact that women have on the U.S. market is growing every year. Consider these statistics from the National Association of Women Business Owners:
- Over 11.6 million firms are owned by women
- Woman-owned businesses employ almost 9 million workers
- In 2017, these same businesses generated $1.7 trillion in revenue
- 39% of all privately-held firms in the U.S. are women-owned
Despite the gains women are making in the economy, there’s room for improvement. That’s why many loan programs have made a concerted effort to get women to apply, and some have set aside funds for women, minorities, and those in underrepresented groups. Given how these loans can take months to get approval, it’s best to research long before you need access to capital. Remember, loans – unlike grants – need to be paid back, so you’ll need to demonstrate your ability to pay and provide full documentation of your creditworthiness.
Link to original article: https://www.nav.com/blog/6-business-loans-for-women-44435/