Gone are the days when women’s obligations are limited to kitchen or household keeping duties and family affairs. Whether it is due to the systemic effect of feminism or the inevitable discovery of inherently skillful women, the backwards concept of women as objects of possession is eventually dissolving.
Nowadays, women can possess their own properties, establish their own businesses, raise their own family by themselves and even leave household duties to their partners. And that change took into effect through the support of various sectors, one of which is the financial institutions that provide business grants and loans for women.
Looking for business grants and loans for women
This particular kind of grants are designed to equip women who are determined to fire up their business through a comprehensive plan and overflowing pool of ideas. Persuading investors is still an option, but the advantage of these loans is borrowing money for a reduced interest rate or even for free.
1. Government grants
While instant money loans and other form of secured and unsecured loans seem appealing, they are not for everybody. Government grants are worth considering.
The pivotal first step is canvassing the myriad of financial companies out there. Women can start by searching on the government level by inquiring on local business support sites and arenas for available options. In the US, the Small Business Administration (SBA) dedicated a desk for women’s business grants and loans concerns called the Office of Women’s Business Ownership.
2. Organizations for women’s business grants
Potential grantees may or may not find their ideal grant or loan, but it doesn’t mean the search stops there. There are various organizations that cater exclusively for women’s needs that can help. Here are a few of them.
- Womensfinance.com accommodates online applications for two types of grants they are offering. One type ranges from $1,000 to $5,000, while the other is for new businesses playing between the range of $100 and $5,000.
- Womanowned.com is a good reference for finding updated sites that offer grants. This site also offers tips and suggestions in empowering women to improve their businesses.
Most of the time, some shortcomings pose greater chances of being considered for a grant. For instance, women who are above the age of 65, women with bad credit history, or female members of a minority are given special considerations.
These may be special privileges, but they do not fall out of the sky for no reason. It may be difficult to search for the best loans and grants, but this should not stop women from pursuing their development as individuals.
If you can share more tips and suggestions for business grants and loans for women, include it on your comments below!
About the Author: Thirdy Rosales is a freelance writer for Business Aid Centre, which is an assistance provider for information on government grants. The company also provides and small business grants for entrepreneurs and financial assistance for business loans as well.