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Business owners love that Lendio helps them get funding without the headaches.
Get the answers and the funding you need with support all along the way.
in small business funding facilitated in the last decade.
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providing broad coverage for small business lending.
*Qualification criteria, rates, and other funding terms will vary depending on the type and location of your business, and upon other factors. This is not a guarantee of funding, and it should not be relied upon as an accurate assessment of the availability or terms of the represented funding products.
Not sure what you need or what funding options are best for you? Use our simple calculator to get a rough idea of your options with no commitment, and apply when you’re ready.
The gender gap in business funding is real. Women-owned businesses are less likely to receive business credit. When they do, their average loan size is 33% smaller than that of men-owned businesses. At Lendio, we’re dedicated to closing this gap and providing equal access to business financing for women business owners, with an online application that connects you to a marketplace of lenders.
These are the most popular types of funding that other women-based businesses qualify for through Lendio.
Access available funds whenever you need them, and only pay interest on what you draw.
Access funding based on your future revenue and repay with regular payments.
Get low-interest, government-backed funding to expand your business.
A term loan offers a lump sum that is repaid with interest over a fixed term. Online term loans offer fast approval and funding times.
SBA loans for women are backed by the U.S. Small Business Administration, which means they come with some pretty sweet perks like lower interest rates and longer repayment terms. The SBA offers several loan programs including 7(a), 504, and microloans.
A line of credit (LOC) is another type of financing women can qualify for. Instead of getting a lump sum, you can borrow from your credit line up to your limit—just like a credit card. Repay the funds to replenish the LOC and only pay interest on the outstanding balance.
With invoice factoring, instead of waiting for clients to pay invoices, a funder purchases an invoice from the borrower at a discounted rate.
Revenue-based financing provides you with a lump sum based on expected future revenue that is repaid along with a factor rate.
Find answers to some commonly asked questions by women-owned businesses.
There are loan programs designed for historically underserved communities including women and minorities. Community Advantage Small Business Lending Companies offer SBA 7(a) loans to underserved communities. Non-profit lenders also offer SBA microloans of up to $50,000. U.S. Bank offers a Business Diversity Lending Program that offers revised credit standards to businesses owned by minorities, women, or veterans. Other regional banks also have Diversity lending programs with relaxed credit criteria for smaller loan amounts.
Some of the advantages of getting a loan for your business through an online marketplace include:
The Small Business Administration doesn’t loan money directly to small businesses unless they’re eligible for disaster recovery, but it does help small businesses access funding by setting loan guidelines for small businesses and reducing lender risk. As a result, they can be one of the safest, easiest ways to access loans for women-owned small businesses.
What makes SBA loans so beneficial? They offer enviably lower rates, lower down-payment requirements, and larger borrowing allowances than private-sector lenders often offer, especially to newer or smaller businesses. And these benefits can help you to grow your credit and connect you, in the longer term, with other funding opportunities.
There’s an SBA loan option to cover just about every aspect of your woman-owned small business. Some of the most common SBA loans include the 7(a), 504, and SBA Express—but there are numerous others that may suit a particular need or aspect of your business.
The SBA 7(a) standard is one of the most flexible SBA loans. You can use it to:
SBA 504 loans can be a bit more complicated than 7(a)s,. Because you must use a 504 to fund a specific fixed asset, a thorough examination of your project costs will be required. When your loan is funded, the lender will initially cover 50% of your costs, and the SBA will cover 40%—this means that you’re responsible for covering at least 10% right off the bat. You’ll also be required to personally guarantee at least 20% of the loan.
You must use an SBA 504 loan to finance fixed assets, although some soft costs can also be included. Examples of qualifying projects include:
Is your woman-owned small business considering exporting goods to other countries? This is often seen by U.S. lenders as a particularly risky option, and it can be harder to access funding as a result.
Check out the SBA’s export finance offerings, which include export loans, export express loans, and export working capital loans.
If you need a smaller amount of funding quickly to jumpstart your woman-owned small business, the SBA offers microloans—up to $50,000—for this exact purpose.
According to the SBA, microloans can be used for a wide range of purposes in order to rebuild, reopen, repair, enhance, or otherwise improve your small business, including:
An SBA microloan, however, cannot be used to purchase real estate or pay down debts.
Hopefully, you’ll never need disaster loan assistance for your small business. However, if the COVID-19 pandemic has taught us anything, it’s that we never know what lies ahead.
Types of SBA disaster loans include:
Whichever type of SBA loan fits best for your small business, make sure to consider your options today—and get help from Lendio.
Grants can be tough to get due to high competition, but don’t underestimate the abundance of options specifically designed for women entrepreneurs. Federal and state government agencies offer some grants; nonprofits and private business organizations offer others.
When it comes to finding grants to help fund your business, the best thing you can do is keep a broad horizon. Here are some of the grant options we’ve found for women entrepreneurs:
There are several government and nonprofit programs available to women.
With a woman-owned business certification, you’ll be eligible for the Woman-Owned Small Business Federal contract program which awards government contracts to woman-owned businesses.
Qualification requirements include:
To qualify as an economically disadvantaged woman-owned small business you must meet the above-listed requirements and the following:
To get certified, apply through the Small Business Administration.
See what you can qualify for on the Lendio Marketplace.