Oct 17, 2018 – Women are starting businesses in increasing numbers, but research suggests that it is tougher for women-owned businesses to secure outside financing than it is for firms owned by men. It can be hard to qualify for a business loan as a woman if you haven’t been operating for a full year. This problem would be solved by the new business loan program; ‘The Empowerment Loan for Women Entrepreneurs’. The company that would be supporting National Business Capital in ‘The Empowerment Loan for Women Entrepreneurs’ program is 24Loan.net
National Business Capital has recently announced that they would be introducing a new business loan program targeted at women entrepreneurs. This program is the first ever program that is aimed at helping women entrepreneurs fund their business growth.
To qualify for this program, the business would have to meet a few requirements; it must be at least 51% owned by women, it must have been in business for over six months, and it must make hundred thousand dollars in annual gross sales. However, businesses do not need collateral, industry restrictions, or a fico minimum to qualify.
Businesses that qualify for this program would have some loan options to choose from such as; Small Business Loans for Women, Women Business Line of Credit and SBA Loans for Women.
‘The Empowerment Loan for Women Entrepreneurs’ program is designed in such a way that the rates, loan amounts of the empowerment loans, and the lengths of the loans can be customized to suit the needs of every woman-owned business and its needs.
The program would issue empowerment loans to women-owned businesses that would take care of business needs such as managing payroll, expanding or relocating a business, getting materials and inventory in bulk, hiring staff, gaining working capital, bridging gaps in cash flow, immediately filling customer purchase orders, purchasing, leasing or upgrading equipment, and paying off vendors, bills, and other business expenses.
There are also exclusive benefits for women-owned businesses that apply for this program like a 24/7 access to a business financing advisor, an expedited funding and minimized paperwork, and a 90% approval rate.