How to get a business loan for women?

Discussion in 'Starting a Business' started by Shelleyb, May 18, 2019.

  1. Shelleyb

    Shelleyb
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    For all of the women business owners, how did you go about obtaining a loan or financing your business?
    Actually, I want to start the Spa Business. Did you go to a bank or a venture capitalist? Did you have to come up with a substantial down payment? Did you buy an existing business or build one from the ground up?
    Any advice would be greatly appreciated.
     
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  2. fisicx

    fisicx
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    Same way as all the men.

    Every business is different.
     
  3. VITS USA

    VITS USA
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    In which city you wants to start business? And you are from which city?

    Because the loan process is same in each country. In India, Government launched a new scheme where they offers a business loan for women’s in a minimum interest rate. Every bank of each country provides an attractive offers to attract their customers so it will depend on your bank which type of offers available for you.
     
  4. Norilliam

    Norilliam
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    My advice is to build it piece by piece and pay cash as you go along. I have no debt and am able to weather the slow times much better than if I had a big debt hanging over my head. I didn't take any kind of loan or fill up credit cards or anything of that nature to get started. My business has grown from what I had already bought built and learned through my life experiences before starting it.
     
  5. overcast

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    There are lot of loans and grants out there for women. And amount of interest for women business is low from almost every banks. So yeah depending on your business idea find out what type of the loans and the startup grants are out there.
     
  6. JessicaTurner

    JessicaTurner
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    SBA loans for women are great financing options for people who can qualify--you'llreceive low interest rates (4% to 9.5percent ) and long-term financing (seven-year terms or more ). The SBA microloan program brings small amounts of money--up to $50,000 in funds --for both startups and micro companies .
     
  7. lie

    lie
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    The SBA loan partner with nonprofit lender that make loan up to $50,000.Microloan up to $30,000 for business that have been operating for the least one year.
     
  8. John G. Anai

    John G. Anai
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    These are the major steps you should follow through the loan application process.
    1. Reason for and Amount of the Business Loan. ...
    2. Visit Your Local SCORE and SBDC Offices. ...
    3. Review Your Credit History and Credit Score. ...
    4. Start Reviewing Your Borrowing Options. ...
    5. Prepare Your Business Plan. ...
    6. Plan a Presentation and Make the Appointment.
     
  9. AdrianG001

    AdrianG001
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    Others have really covered the loans available for women, so I'll instead focus a bit on the pre-planning for your business, as this is a place many falter and whittle away at their funding.

    When you're in the early stages of planning your business, it's important to do a ton of research, both competitive and about your potential market. If your business is going to be local and not dabbling in e-commerce, do some local competitive research and see what's available around you.

    Once you've identified some competitors, see what they're doing, what their customers are saying, and if they have an online presence. (Everyone should have some kind of online presence.)

    Next, you want to think about any kind of startup funding you'll need. You can determine some of this through free research by considering any tools you'll need, if you need to hire any employees or specialists, or if you need a workspace or a bookeeping tool. To get a more rock solid idea you'll want to have a professional business plan drafted up, which can be a little costly.

    With a professional business plan, you can look for investors.
     
  10. Johnnie L M

    Johnnie L M
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    For anyone looking to get funds through traditional lending your up against the proverbial rock and a hard place fighting to get something is the key indicator here. You have to cleanup your credit first then you have to build a great FICO score. Then its a 97% chance you won't get money because banks don't lend money to people that need it, they loan to people that don't need it, period. The right audiences are the marching orders funders off the beat and path of which some want a good rate on return ROI little involvement some want equity plus a strong ROI mitigating circumstance matter also!
     

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