The amount of women-owned small businesses in the UK and USA increase rapidly. The governments provide business ladies with financial assistance quite willingly; however, the grants are available for less than 25% of business owners.
Loans for women are the best choice for those, who haven’t received the grants.
Business Loan Programs For Women
There are some purposely developed business loans programs for female entrepreneurs; these programs can help ladies to start or develop their business. Loan rates and durations, delinquency rates and other conditions depend on the organizations that offer money advance. Also, they lay down specific requirements to the seekers.
Trusted Loan Platforms
Women, who decided to borrow short for their small businesses, can apply for money loan via special online platforms. There are three tried-and-true companies that offer cash loans:
- Kabbage. This is the only platform that allows borrowing funds for people with low credit scores. To get advance money, the female entrepreneur has to provide the documented evidence of the fact that her business has been in operation for more than 12 months with annual revenue of $60,000 or more. Maximum loan amount is $300,000.
- Prosper. This platform is aimed to connect the borrowers with investors. All parties provide their documents and are reviewed carefully by Prospers authorities to avoid fraudulence and scams. The borrower can choose offers with the most suitable conditions.
- OnDeck. The seeker has to confirm that her business is operational for 1 year or more and the annual revenue exceeds $100,000. Personal credit score has to be 500 or more. Maximum loan amount is $500,000.
All the above-described platforms allow the borrower to apply for advanced money online; it’s quite convenient and time-saving feature.