Business Fundings for business owning women: Dare to overcome every challenge!!
Aug 06, 2020 05:00
Being a woman is a matter of honour only when it comes to lead some Women Empowerment Campaign or as a housekeeping appreciation, isn’t it?
But, what happens when it comes to handing over businesses to the ”superwoman”? And that too with sole financial responsibilities? Why women are not seen as liable citizens to own and run their personal/ families’ businesses, is a relevant question yet unanswered.
Not to worry, as the times have much crunched into a “New Odd Perspective” trying to give women a biased platform as men, to work and handle their own finances- independently.
[ “New Odd Perspective”: This was indeed a signal to the fact that not everyone has yet got easy to give women their strength as being business owners. ]
Motive:- Financial Assistance for Women-Owned Businesses: So, here’s a gift to support your aims and passion, pretty ladies!! (or their loved ones, reading on their behalf) You, as a sincere and loyal woman, too deserve the best financial guidance for your business fundings. ( Stay in touch even if you have been thinking of yourself as a business owner soon)
Starting with what challenges women get to face in their business establishments or loan approvals. Will go through some of the necessary steps to get fundings for your business loans, as a proud woman.
Read carefully between the lines if you wish to get some really motivational tips to overcome any issues you might/might have faced being an aspirant women
★Brief into: Challenges that Women face while relating themselves to small/ large scale businesses
The challenges that women have been facing is a long list to go. Be it literally anything, women are supposed and expected to be a sacrificing machine- of their dreams, passion, aims in the urge of handling their families and household. But let’s for now, focus on the financial and business needs of women. Women are struggling a lot, past many years, to be tagged and renowned as a business owner.
(More than 30% of the society neither appreciating them to own their ancestors’ business or new businesses- with due respect from the society)
These might be seen as some of the financial challenges apart from the domestic discrepancies the women have to face everyday:
Loan rejections: The loan applications in name of a woman are most likely to be rejected on the terms of hypothetical gender inequalities. The reason that the disapproving lender states is that: “ We can not risk our finance on unpredictable business growth (which is worked upon by women).” Sounds a bit awkward, isn’t it?
Weak Professional Experiences: Another challenge that women face is getting inappropriate loan fundings. The next reason being stated is the weak professional experience-- indicating that women are not capable to cope with the ups and downs of the business market. Is that a point worth saying, what do you think?
Inappropriate Collateral demands: Women might be seen as a figure of a desperate bird wishing to fly high. To this, the lenders might even bring illogical collateral demands thinking that women must not be aware enough of the loan policies and rules in the market.
So, let’s cover up the challenges just discussed to no more being called a fool. Also, what more loan facilities that women deserve as starting her new or restarting her business.
★What factors need to keep in mind before opting small business loans for women?
For starting a fresh business or refinancing your small/ large business needs, you have to keenly look for the indiscriminate lenders in the loan market. To your surprise, there are many offline/ online lenders, waiting for your loan approval- to fund your business.
Look upon the loan policies very carefully and ensure that you’re not being played upon by some games as gender indiscrimination. Check the following parameters and analyse them taking your time and gaining knowledge:
4.Mode of payments
5.Loans for bad credit
★What Loans are available for Women Businesses: Covid-19?
The advent of Covid-19 has proved as a devastating effect to satisfy womens’ business requirements as a primary focus at present. Not only has the pandemic stepped back the women to their home as an extra care to their families. But has also made women compromise with their current business dreams. But here what are the best possible loans helping you grow with your business flourishing in the market.
I. SBA Loans: Have a look at the most recommendable loans by SBA for women owning businesses:
1.Women-Owned Small Businesses (WOSB):
●The SBA Loans give special funding to women business owners through Women-Owned Small Businesses (WOSB). The Office of Women’s Business Ownership (OWBO) has released a list of programs under supervision of SBA district offices.
●Moreover, they aim to train and counsel about loan and credit awareness. Working over the Women Business Centers, OWBO is a highly reputed federal means to value the loans for businesses that women own.
2.Federal Contracting program:
Making women capable enough to make contracts in their self made businesses, Federal Contracting Programs offer women owned businesses with appropriate business support.
3.Funding for women-owned small businesses:
The 8 (a) Business Development Program for enabling women to work well on their businesses without worrying for financial aid.
4.DreamBuilder as a learning platform:
To enable women to learn more about the loan and fundings for their small/ large scale businesses, DreamBuilder has been introduced as an online platform to make them aware of everything about the loan and policies related to loans.
II. Private/ Non profit Lenders: With the similar federal approach, there are many private as well as non-profit fund grants for funding guidance to women owning businesses. Your Own Funding being one of such online established platforms) You can easily check up for more details over the websites that the private lenders have established their motives for- women owning businesses.
Loans for women with bad credit:
Just as the male majority of the nation is viable for various loans despite bad credits, women can too benefit. The genuine online lenders (or even as an offline loan seeking) tend to respect the business requirements for womens’ businesses giving them bad credit small business loans facilities. The reasons for your bad credits should be discussed openly with the lender. Bad credits would still make you legitimate for approving a loan for your small/ large businesses.
➢Your Own Funding
Your Own Funding is an online platform working upon personal loans guidance without being gender indiscriminate or large/ small scale business requirements. If you are a genuine and passionate individual or group seeking funds for yourselves, feel free to contact through 24*7 Customer Care Service.
Also if you’re willing to fund your women owned businesses or start a business as a brave and bold woman, you can always contact your loan related queries with the YOF team.
Thus, making everyone move to a broader mindset allowing women equal space and respect for owning a business won’t be easy. You need to be passionate enough for making yourself the best business tycoon (at least you will be a role model for your children!!)
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