Women entrepreneurs have a variety of options available to them. These include special lending programs, networking opportunities and business mentoring. Additionally, women entrepreneurs can find grants that support their startups.
The SBA sponsors more than 100 Women’s Business Centers, which provide counseling and educational seminars. In addition, the agency runs a program that certifies women-owned businesses for set-aside federal contracts.
iFundWomen
Founder Karen Cahn knows how hard it is to get a startup funded, especially for women. That’s why she launched iFundWomen, a crowdfunding platform for female entrepreneurs that also offers business coaching.
Cahn’s goal is to close the confidence gap that prevents many women from trying crowdfunding, which she says can be an effective way to raise cash for startups. Unlike other crowdfunding platforms, iFundWomen’s campaigns are vetted to ensure that the businesses are legitimate.
The platform focuses on rewards crowdfunding, which works better for product-based businesses. However, all types of businesses can succeed on iFundWomen. The site also has a community Slack network where entrepreneurs can collaborate and commiserate on all things startup life. iFundWomen also pays its campaign creators within five to 10 days after their first commitment.
SheEO
Founded by Facebook COO Sheryl Sandberg, SheEO offers funding and mentoring to female entrepreneurs. Their five-year loans have no interest, and they’re equity free. The loan recipients, known as Ventures, are women- and non-binary-owned and led companies with recurring revenue of $50k to $2M that address one of the 17 UN Sustainable Development Goals.
SheEO also provides the Ventures with coaching from world-class SheEO Development Guides. These guides are business leaders, thought leaders, and SheEO community members.
SheEO operates on a model of what founder Vicki Saunders calls “radical generosity.” In each region, the organization recruits groups of 500 women called Activators to donate C$1,100 to a fund that makes zero-interest loans of $100,000 to five winning businesses in local currency. The money never goes back to the Activators, and it’s continually reinvested into the fund.
Cartier Women’s Initiative
If you’re a woman looking to start a business, there are several ways to get funding. You can apply for a loan from a community development financial institution or search for grants that promote women entrepreneurs. Some of these organizations provide financing and mentoring services to help you build your small business.
You can also apply for a loan from your bank. Many larger banks have programs that support women-owned businesses, and some even publicize these initiatives. You can also look for nonprofit lenders that specialize in providing loans to low-income women.
The Cartier Women’s Initiative awards shine a spotlight on women entrepreneurs with transformative ideas. This year, finalists were selected from seven regions: Latin America, North America, Europe, Sub Saharan Africa, Middle East & North Africa, Asia and South Asia & Oceania. The winning finalists benefit from coaching and mentoring, media exposure, networking events, education programmes and more.
NASE Growth Grants
A number of organizations offer grants to women entrepreneurs. These can help them start a business or grow their existing one. The benefits of these grants include free financing and mentorship. Some programs also offer workshops on how to write a business plan and create financial projections.
Some programs also provide support services for women-owned businesses. These can include workshops, mentoring and networking opportunities. They can also help women entrepreneurs find sources of funding for their businesses.
Accompany Capital helps New York women business owners through low-cost small business loans and extensive one-on-one consulting and mentoring. The company has awarded more than $15,480,230 to date, helping women launch their first businesses and grow them. Other grant programs for women entrepreneurs are offered by Ladies Who Launch and the NASE Growth Grants.
SBA Loans
Women-owned businesses are a force to be reckoned with, but they sometimes need extra capital for inventory, marketing, or cash flow emergencies. Fortunately, there are many business loans for women entrepreneurs that can help. These loans typically have lower rates and less stringent credit requirements. Moreover, you can even apply for an SBA microloan if your business meets the size guidelines. These loans are issued by local lenders, which are mainly nonprofit organizations.
There are also many programs that provide resources for small business owners, including grants and mentorship opportunities. For example, iFundWomen offers a pay-it-forward model and expert startup coaching for women-led startups. SheEO awards equity free grants to five woman-run companies each year. Other grant programs include SBIR and SBTT. These federal grants offer specialized support, training, and contracting opportunities to small and disadvantaged businesses.start up business loans for women
