At SmartBiz Loans®, we’re committed to helping female entrepreneurs. Driven and creative, women are driving the U.S. economy and putting people to work with 9.5 million women-owned businesses employing nearly 8 million people.
But women-owned businesses also face challenges, including access to capital. In a July 2018 interview, SBA Administrator Linda McMahon confirmed what is widely known to female entrepreneurs who have sought funding.
“When it comes to getting equal access to credit, we need to continue to break down barriers,” McMahon says. “Women are starting more businesses these days, and they’re resilient. We need to help them get access to more loans and seed funding.”
At SmartBiz Loans, we agree that women should have equal access to low-cost SBA loans. We’re proud that we are helping fund approximately 30% of all our SBA loans to women-owned businesses, higher than the national average.
The SBA reports that procuring a small business loan is pivotal to most businesses’ success. Low-cost funds can fuel a number of business building initiatives like buying equipment or inventory, increasing marketing, paying off high interest debt and more.
Want to meet women business owners thriving with the help of a low-cost SBA loan? Check out our video below featuring a daycare center owner, an indoor archery facility owner and a photographer - real SmartBiz customers using low-cost SBA loan funds to strengthen and grow their business.
For more information and actionable advice, read SmartBiz CEO Evan Singer’s article in Entrepreneur. He shares six tips for female entrepreneurs seeking a low-cost business loan: Is Yours a Woman-Owned Business? Get Your Fair Share of Available Loans.