Women-owned businesses made up almost 30% of all businesses based in America. They accounted for an economic impact of almost $3 trillion, thus generating or maintaining 23 million jobs, which is 16% of all the jobs in the US. In 2016, innovative companies were introduced by female founders. Women entrepreneurs earned millions to expand their businesses.
Financing for Women-Owned Businesses
It’s not too easy for women to get access to working capital. It can be challenging for them to obtain business financing from traditional lenders to grow their business. To give approval for a small business loan, traditional lenders can be slow and require extensive paperwork about women-owned businesses and their personal financial history.
Thanks to small business loans, female entrepreneurs can smooth fluctuating cash flow during a growth period or prepare for a busy season. If you’re among these women, take the time to research all the available options and make the right decision. It’s critical to turn to a reputable business loan provider like firstamericanmerchant.com for business loans for women.
First American Merchant is a reliable online lender and payment processor that specializes in the high risk sector and offers exceptional business loan opportunities to merchants of any type. Your credit history is not a problem for FAM.
First American Merchant offers the following types of business funding:
Merchant Cash Advance
- Credit scores below 500 approved
- Receive your funds within 72 hours
- Simple, flexible programs
- No tax returns or financials required
- Fast application process
FAM’s popular ACH funding program is called “Bank Only” funding. The latter provides financing for merchants even if they don’t have a merchant account.
High Risk Business Funding
FAM is experienced in working with high risk businesses and knows them best of all. FAM can help high risk businesses achieve success without difficulty.
First American Merchant has developed a solution that offers merchants an unprecedented opportunity for growth.
When applying for a business loan for women, it’s important to have a detailed business plan to ensure the extra working capital will drive revenue and help you pay the money back. Prepare a plan of action for how to use your funds and how you will repay it.