Women entrepreneurs are starting to get more and more visibility in today’s business world. Unfortunately, some people are still reticent when it comes to trusting that they will do a good job. For instance, there are banks that refuse to give loans to small businesses run by women. As a response, certain corporations decided to offer small business loans for women. Today, we’re going to talk about 3 of the most prominent ones. We’ll find out exactly what they offer and see what they advise women entrepreneurs who are looking for a business loan.
3 Leading Figures Advise on Small Business Loans for Women
1. The Eileen Fisher Women-Owned Business Grant Program
Perhaps one of the most well-known businesses that offer small business loans for women, The Eileen Fisher Women-Owned Business Grant Program has a history of 30 years supporting women’s initiatives. They award 5 grants each year to businesses that are run entirely by women. Moreover, the businesses have to be sustainable, socially conscious, and innovative. Their 2017 pledge is to reach, protect, and empower even more women. They draw attention to respect no matter the differences in gender, race, age, sexual orientation, ethnicity, or political views. As such, they’re one of the most inspirational business that women should look up to.
2. InnovateHER: 2015 Innovating for Women Business Challenge
This initiative is sponsored by the Office of Women’s Business Ownership in the Small Business Administration Office. They award three grants a year in order to help women get leadership positions. The businesses that they fund have to prove that they can improve the lives of women. Moreover, they have to be able to be commercialized, and offer something the marketplace needs. This initiative recognizes the role women have in all business fields. Moreover, it encourages more women to venture into opening small businesses. Part of the reason behind the idea to award small business loans to women was the fact that only 32 percent of people who could fund both women and men with the exact same ideas chose women, while 68 percent chose men.
3. Zions Bank — Smart Women Smart Money
Zions is a bank based in Utah that aims to award start up business loans to women that have ideas that pertain to one of the following categories: community development, business, child and elder care, continuing education and teacher support, arts and culture, and health and human services. Each grant is of $3.000, and you have the possibility of winning one every year. The important thing to mention is that anyone can win a grant as long as their business idea promotes women empowerment or benefits women in any way. The Smart Women Smart Money initiative aims to promote women entrepreneurs who are talented and hard-working, and who are trying to strengthen the community through their work.
These are only a couple of initiatives that offer small business loans for women, but they’re definitely some of the most successful and inspiring ones. Consequently, if you’re a woman entrepreneur yourself, don’t hesitate to read more about them and apply for a chance to start your own business.
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