Finance May 21, 2013 Last updated January 11th, 2022 2,281 Reads share

Women Entrepreneurs: A Rising Force Of America

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2013 is deemed to be the year of women entrepreneurs. According to a recent survey, 81% of women business owners are positive about the performance of their ventures in the current year. Surprisingly, the businesses owned by women entrepreneurs are considered to be one of the fastest growing. These women run ventures have increased about 60% since 1997.

With the advent of internet and home based entrepreneurship, numerous avenues that did not previously exist have been opened for the aspiring women entrepreneurs. A case study even points out that 50% of women between the age group of 18-24 wish to launch their own businesses. While the acumen of female driven ventures is being acknowledged everywhere, do we see an adequate rise in the sources of funds or business loans for women?

According to the National Association of Women Business Owners (NAWBO), Public Policy Survey of its women members still relies on personal savings as their main source of business funding and they often don’t apply for business credit because they believe they will be turned down.

104 million businesses in America are majority owned by women. These businesses have created more than 12 million employment opportunities and have produced more than a trillion dollars in sales revenue. There is a much felt need to encourage and educate women entrepreneurs in finding finance opportunities to start and sustain their businesses effectively to ensure a steady growth of the economy.

A plethora of government agencies and financial organizations are willing to offer assistance to women entrepreneurs but to avail these the business women must learn about the types of financing available to them. There are numerous sources of funds which can be explored.

Secured loans

These loans are backed by collateral by the loan seeker. This is to ensure the repayment of the loan in time. If there is a default of payment the collateral gets confiscated and the money recovered by selling it.

Unsecured loans

These loans come without collateral but have a very high rate of interest as compared to secured loans. The financial background and the credit history have to be really good in order to be eligible for these loans.


These are small sized loans, generally given for start-ups and come with a specific small time for repayment. The amount ranges from $13,000 to $35,000. Banks can be approached with an SBA (Small Business Administration) backing.


Various state or local programs for funding can be explored. The Non-profits, the state and the local government keep coming up with funding women entrepreneurs. These options need to be found and combined with other means of funding.

With the above mentioned sources of finance the women business loan seekers should keep in mind that unless and until they meet the eligibility criteria put forth by the granting authorities, the chances of their loans being sanctioned are bleak. Generally the banks look for a good credit history, a solid business plan, education, past experience and proof that the business is bound to succeed.

Last but not the least, there are plenty of funding options to sustain the eligible female business owners from commercial loans to grants aided by the government. These women entrepreneurs must be prepared and willing to seek the required financial assistance.

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