Business Loans for Women
With business innovation crucial for the growth of the UK economy, the role of women within the SME sector is becoming increasingly important. It is still the case that the proportion of females compared to men in SME ventures is out of balance with less than a 3rd of SME businesses run by women.
Development in this area has started to become more obvious since the rise of internet businesses. This is great for women who have had children but would also like to run a business. Thus providing the flexibility to spend time with the family as well as work, as traditional working hours can often be unforgiving.
One of the roadblocks for women starting out in business is finance. Even, web based businesses which don’t require a large financial outlay do require some startup costs. This can include: new equipment to set up a home office, the costs of having a website designed and advertising costs.
Business grants can provide some funding for female entrepreneurs but options are relatively limited. Here are some to consider:
These are the difficulties that specially devised business loans for women are trying to answer.
How to get a Business Loan for Women?
A business loan can help a company in its early stages. It involves borrowing a certain amount of money to help with the initial outlay of starting a business or funding an existing business,
If you’re getting started then a startup business loan can offer you a suitable loan when first launching your new business to help meet the demands of employees, clients and cash flow. It’s a great way to help a new business get started.
Business loans come with a fixed or variable interest rate and monthly repayments over a set term in order to help you get started ad successfully be able to budget for each month.
It’s standard that most businesses need some form of financial support in the beginning and a business loan is one of the most popular options to cover the initial expense.
Compare options using our online business finance comparison service
You can normally apply online for a business loan but will need to have a business plan in place. They will assess you based on your credit history and that of your company.
Advantages of a Business Loan
A business loan provides you with the flexibility to get started with your business before being financially ready. They can also allow women who need to expand a business or buy new equipment, the opportunity to do so.
Many business loans come with a fixed rate of interest meaning you can plan your monthly payments accurately and budget effectively.