Small business loans for women

Women business loans

Women s Enterprise Centre s Business Loans Program offers small business loans to women-owned businesses in BC that can help you start, enhance or grow your BC business. You may qualify with us, even if you don t with other lenders.

We do not have a grant program and, despite popular belief, grants for business start-ups are rare. If you are interested in exploring other funding options, check out this list of grant programs and funding sources.

About Our Small Business Loans Program

Our Business Loans program is different from those of traditional lenders. We offer:

  • Loans up to $150,000* for BC women
  • Loans for market-ready start-ups, business expansion projects and business purchases
  • Loans for leaseholds, equipment, operating capital and more
  • Flexible repayment options and terms up to 5 years
  • Lower security and equity requirements than many other lenders
  • Lower fees than many other lenders
  • Competitive interest rates

*If you require funding beyond $150,000, we attempt to partner with other lenders to meet your full borrowing requirements.

One of the unique pieces to our loans program is that it is bundled with free, ongoing, professional business advice. Whether you re just starting out, purchasing a business or growing your BC business, Women s Enterprise Centre is here to help.

Women s Enterprise Centre offer two loans programs; our Primary Lending Program and our Equal Access to Capital Lending Program. For more information see our How do I Qualify page.

How Do I Qualify?

For basic eligibility you must be:

  • A woman who owns and controls at least 51% of a business that is registered and located in British Columbia
  • A Canadian citizen or Permanent Resident
  • Residing in British Columbia

Our loans program is different from traditional lenders, and we are interested in learning more about you and your business plans. Loan applicants will work with one of our business advisors throughout the application and repayment plan processes. See our small business loan qualification requirements

Youth Business Loan

Do you dream of starting, buying or growing a business but think you re too young to get a business loan? Women s Enterprise Centre has partnered with Futurpreneur Canada to offer an unsecured joint loan for youth of up to $65,000. Please be sure to identify Women s Enterprise Centre as the community partner when you fill out your Futurpreneur application. If you re a woman under 39, you may qualify! Learn more about our business loans for youth

To find out more about applying for a loan with Women s Enterprise Centre, you will need to participate in one of our bi-weekly phone-in Business Loans Information Session on our loans program. The Business Advisor facilitating the Business Loans Loan Information Session will review the details of our lending program, answer your questions and advise you on how to apply. Learn how to access small business financing today!

Women business loans



Government Small Business Loans

Government small business loans help put your own business within reach. First there’s the quest for a decent location, then comes building a customer base, followed by all the initial hiccups of generating a cash flow before your business grows roots and gains momentum. The beginning of a business is crucial because it’s when you gain or lose market credibility. If you disappoint your customers, they may not give you a second chance. If your business gets off to a rocky start (most do), and you believe you can recover but need further financing to make this happen, you can apply for government small business loans.

For-profit lenders are reluctant to issue loans to anyone who does not have a strong credit report and financial history. That is not the case with government small business loans. Obviously, a decent credit report is important, and you will have to follow the guidelines regarding the repayment period and the interest rate set by the government, but usually the interest rates charged by government loans are lower than those you could expect in the private sector.

More about Government Small Business Loans

Government loans are typically offered through banks and credit unions that partner with the Small Business Administration (SBA). The SBA is a U.S. government body, with the motive of providing support for small businesses and entrepreneurs. For each loan authorized, a government-backed guarantee offers serious credibility, since the lender knows that even if you default, the government will pay off the balance. These loans can be applied to a number of uses, such as:

  • Purchase of new equipment, machinery, parts, supplies, etc.
  • Financing leasehold improvements
  • Commercial mortgage on buildings
  • Refinance existing debt
  • Establishing a line of credit

Government small business loans benefit both small businesses and the lending agency. For small businesses, it is beneficial because this is money capital they may not have access too. For banks, the loan’s risk is decreased due to the loan being backed by the SBA.

Different SBA Government Loans

The SBA extends financial help through various lending programs it has to offer. Some of the more popular loans are:

  • 7(a) Loan Guarantee Program: aimed primarily in helping a small business start or expand its services. The maximum size of such a loan is $5 million.
  • MicroLoan Program: mostly used for short-term purposes, such as purchase of goods, office furniture, transportation, computers, etc. The maximum amount is fixed at $50,000.
  • 504 Fixed Asset Program: featuring fixed-rate and long-term financing, these loans are aimed at applicants whose business model will benefit their community directly, either by providing jobs or bringing needed services to an underserved area. Again, the maximum amount is $5 million.
  • Disaster Assistance: under this program, loans are sanctioned to renters or homeowners with a low-interest, long-term plan for the restoration of property to its pre-disaster condition.

In most cases, maintaining a good business credit report is enough to qualify. In addition, it instills confidence not only in the lender, but also in you. There is at least one SBA office in every state in America. If you contact them regarding the startup status of your business model and plan, you can get started on a government small business loan that will give you the financing to make your dreams a reality.



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How to Apply for Women and Minority Owned Business Grants

Business grants for women

Asian business woman image by huaxiadragon from Fotolia.com

Related Articles

  • 1 Grants for Minority First Time Business Owners
  • 2 List of Grants for African-American Women to Start a Business
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  • 4 How to Register a Business As Minority Owned

Women and visible minorities who own their own businesses may be eligible for a variety of grants. Learn how to find them and apply for them.

Women and visible minorities can take advantage of grants offered by private institutions and, less often, government agencies. The key to winning a grant is ensuring that your business goals are aligned with the purpose of the grant and that you submit a professional application. With a bit of study and practice, however, you can gain confidence and hone your grant-writing skills, allowing you to tap into the resources of organizations that promote female and minority entrepreneurship.

Select specific grant programs that match your business and personal situation. Take note of each granting organization’s name and contact information, and compile a list of all grants for which you are eligible. Select a range of options – grants for women only, minorities only or both – if you are both a woman and a part of a minority group; this will give you a wider range of possibilities. Begin your search at Grants.gov for federal funding, and SRA International or Business Owners’ Idea Cafe for private funding sources (see Resources).

Research the granting organization thoroughly. Visit its website and read any news articles or press releases related to the organization. Look into the types of organizations and projects that the organization funds, and research specific grant-winners, if possible. Focus on the exact purpose of the awarded grants. Grants may be awarded purely to promote female and minority entrepreneurship, for example, or they may be granted to organizations whose programs directly benefit women and minorities in general.

Contact the granting organization and ask for guidance in preparing your grant proposal. Ask a representative to speak with you about the grant proposal process, explaining such things as preferred submission formats and length, the organization’s specific areas of interest and any other grant opportunities for women and minorities that may be available. Keep your new contact’s name and information as you did with the notes you took in step one.

Create your grant proposal. The proposal should include a description of your organization, including its mission and product offerings, and a needs assessment that clearly explains the need your company serves. Focus specifically on how your organization will promote the goals of the organization that offers the grant.

Create a thorough description of your products, services and business model, and include it in your grant proposal. Add a budget, projected financial statements and a detailed summary of how you plan to spend the grant money. End the proposal with professional biographies of yourself and your top-management team. List the names of any women or minority associations or groups of which you are a member.

Create an executive summary after all other sections are done and place it at the beginning of the grant proposal document.

Submit your grant proposal to your contact or designated recipient in the granting organization. Follow all format and submission instructions when sending in your proposal, and include a brief cover letter introducing yourself and your company, while thanking the grant reviewers for their time.

Ask your contact in the granting organization if members of the grant proposal review committee would be willing to look over your proposal and provide feedback before the submission deadline. It never hurts to ask, and this could provide invaluable insight and increase your chances of receiving a grant.



business grants for women

Business grants for women

2017 Grants and Scholarships For Women

Business grants for womenResearch compiled by the Center For Women’s Business Research and Entrepreneur Magazine reveals that women are the most progressive species on the planet. They are more likely to earn a college degree, launch a non-profit organization, and start a successful business. Many are able to do this while simultaneously running a household and caring for kids.

Women need grants and scholarships because despite their business and career success, they are still disadvantaged – and have been for hundreds of years. Though they make up roughly 51% of the world population, women are still a minority and face many related issues. Women are underserved and overlooked, and suffer continuously from unfair practices such as gender discrimination, gender underestimation, and even gender harassment.

Women grants, especially business grants for women, give them the upperhand to fight back, and prevail. This type of assistance enables them to recover from an unfair and unjust system that has existed for a long time. The concept is very similar to affirmative action initiatives that help other minority groups.

Business grants help women either start or expand an existing home business or non-profit organization. Education grants or scholarships help women pay for college – tuition, books, and even dorms. These types of opportunities make up the thousands of federal, state, and private grants for women that are designed to give them the tools and funding they need to be successful.

Search Grant Opportunities:

Below is our comprehensive directory that lists all the organizations and foundations (in alphabetical order) that offer grant funding to women.



women business grants

Women business grants

2017 Grants and Scholarships For Women

Women business grantsResearch compiled by the Center For Women’s Business Research and Entrepreneur Magazine reveals that women are the most progressive species on the planet. They are more likely to earn a college degree, launch a non-profit organization, and start a successful business. Many are able to do this while simultaneously running a household and caring for kids.

Women need grants and scholarships because despite their business and career success, they are still disadvantaged – and have been for hundreds of years. Though they make up roughly 51% of the world population, women are still a minority and face many related issues. Women are underserved and overlooked, and suffer continuously from unfair practices such as gender discrimination, gender underestimation, and even gender harassment.

Women grants, especially business grants for women, give them the upperhand to fight back, and prevail. This type of assistance enables them to recover from an unfair and unjust system that has existed for a long time. The concept is very similar to affirmative action initiatives that help other minority groups.

Business grants help women either start or expand an existing home business or non-profit organization. Education grants or scholarships help women pay for college – tuition, books, and even dorms. These types of opportunities make up the thousands of federal, state, and private grants for women that are designed to give them the tools and funding they need to be successful.

Search Grant Opportunities:

Below is our comprehensive directory that lists all the organizations and foundations (in alphabetical order) that offer grant funding to women.



Women in business

Women in business

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Give a gift that helps a woman survivor of war.

Your gift will help a woman in need rebuild her life and spread the goodwill of the season to your loved ones.

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My name is Regina

Since joining Women for Women International, Regina has been working to improve the health of those in her community.

Women in business

My Name Is Awham

Awham remembers the year the war started in Iraq, and the additional hardships she faced after her husband fell ill and lost his job. “I was left to care for my four children with no income.

Women in business

My name is Zarghuna

I am 38 years old. There was no happiness in my childhood. When I was six years old, my brother lost a dog-fighting match and started fighting with my cousin which led to my cousin’s death.

Women in business

My name is Nabintu

I was a happy woman, wife, and mother before the war came to my front door. After high school, I wanted to earn some money and explore the city so I went to be a babysitter for a family in Bukavu.

Women in business

My Name is Caritas

I’m 39 years old. I’m married and I have two children of my own, a son and a daughter. And I have adopted five more children, because of the genocide.



Women in business

Women in business

GIFTS THAT GIVE BACK

Give a gift that helps a woman survivor of war.

Your gift will help a woman in need rebuild her life and spread the goodwill of the season to your loved ones.

2017 Luncheon

Women in business

SUPPORTING REFUGEES

Women in business

Celebrity Spotlight: Sophie Turner

Women in business

LEARN MORE

Women in business

Women in business

Women in business

Women in business

My name is Regina

Since joining Women for Women International, Regina has been working to improve the health of those in her community.

Women in business

My Name Is Awham

Awham remembers the year the war started in Iraq, and the additional hardships she faced after her husband fell ill and lost his job. “I was left to care for my four children with no income.

Women in business

My name is Zarghuna

I am 38 years old. There was no happiness in my childhood. When I was six years old, my brother lost a dog-fighting match and started fighting with my cousin which led to my cousin’s death.

Women in business

My name is Nabintu

I was a happy woman, wife, and mother before the war came to my front door. After high school, I wanted to earn some money and explore the city so I went to be a babysitter for a family in Bukavu.

Women in business

My Name is Caritas

I’m 39 years old. I’m married and I have two children of my own, a son and a daughter. And I have adopted five more children, because of the genocide.



Women s Business Loans

A recent Forbes article, The Confidence Gap and Women Entrepreneurs, restated what is widely known in the industry: Women have less access to money for business than their male counterparts.

This means that fewer women are approved to borrow money from traditional lenders and that most women owned businesses are undercapitalized. WVF’s goal is to address this confidence and skills gap so women understand what it takes to successfully access credit.

Women s Venture Fund offers a more flexible approach to assessing your credit needs. Since many of our clients are first time entrepreneurs,

we help you calculate your loan needs through our consultation process. This approach helps the entrepreneur understand how much financing is needed and what additional steps are needed to achieve true profitability.

WVF funds women owned businesses based on sales, number of clients, contracts and the availability of other accessible resources to support the amount requested. The process starts with your written plan that shows how you secure clients and based on your track record, what you project as future sales. Tell us how you will build on your current success and we will help you assess how much you need to achieve your vision for growth. Show us your determination and your plans to grow and we will help you chart the best path to get there.

Often times it s not just a loan that is required to grow. We can help you develop the best comprehensive roadmap for organizational growth via our advisory program.

Currently, WVF is working with clients in the New York City metropolitan area. If you currently own a business in this region, we can get the process started. Simply send us your record of success to date along with the application below. We can schedule a call to discuss what’s feasible after that.

Not sure how to develop a growth action plan? See our schedule of workshops focused on helping clients seeking assistance in generating their plans and revenue projections.