3 Reasons for Women-Owned Businesses to Secure SBA Loans
Of all women-owned businesses, 90% are considered small businesses. While business booms, women face unique challenges to successful business ownership, including limited support, gender inequality, and limited funding.
With Small Business Administration loans, women-owned businesses can tackle the funding barrier, providing more time and room to grow. While there are many reasons to secure an SBA loan,
we’ve outlined three below.
SBA loans address start-up costs
Women are ready for business. But starting and running a business is expensive, especially in the early days. Women business owners report two significant challenges: limited cash flow and marketing. Funds are needed upfront for equipment and space, and good marketing is essential to an effective business strategy. SBA loans can provide
the funding necessary to run your business.
SBA loans address inequality
Many women-owned businesses are also minority-owned,
presenting more complex business environments. The SBA 8(a) program is designed for disadvantaged small business owners, including women. In addition to funding, the SBA 8(a) loan provides owners with one-on-one business coaching and education opportunities.
SBA loans make financial sense
Compared to traditional loans, SBA loans can have longer terms, lower monthly payments, and lower down payments. Additionally, SBA loan funds are more flexible and can be used to purchase equipment, real estate, and capital.
Helping Small Businesses Be Great Businesses
Our team learns your business’s goals, gathers the appropriate approvals, and gets funds to you without delay. Talk to a Horizon business advisor today to find out what small business loan is right for you! Call 888-873-2640.