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The Basics of the Woman Small Business Loan

If you are a female entrepreneur who needs additional funds for upgrading equipment and furniture or working capital, or to set up a new business, and need a guarantor, ask for the assistance of SBA.

The SBA (Small Business Administration) is a federal agency which guarantees the loans of small business. Founded in 1953, to assist American entrepreneurs build up a prosperous small business, and has this specific aid program for the woman small business borrower.

A female borrower qualifies if she has no more than 500 employees.

As female borrower, you’re automatically qualified to avail of these advantages at SBA:

Undergo a simple application process – compared to the normal loan application which entails a lot of paper work and verification process, which is time-consuming and frustrating.

Enjoy more freedom when designating the uses of the loan proceeds

Get a bigger loan amount – In general, most women borrowers find it hard to get loans. With SBA’s guarantee, you’ll get the loan and in a higher amount. Combine this with the freedom in use of the funds and it is very favorable for you.

You aren’t required to present collateral.

Another advantage is that with the guarantee of SBA you won’t need to present financial or tax return statements, which SBA regards as not a true indicator of the borrowers’ ability to pay back the loan.

SBA will look for these indicators, when a female borrower applies for and in order to get the approval as a woman small business borrower:

•Borrowers’ personal history of paying debts
•Ability to show, that the business is financially sound
•Borrower owns part of the business, for if she does. She’ll work harder to make it successful and pay off her debts......

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