There are numerous women entrepreneurs who
do require business funding, however their business credentials may not be
impressive enough for the banks. As a private lender, Funding Easily does
provide women owned small business loans.
Our criteria and methods of working are completely different from those of
banks so we are not limited by the same norms as banks are.
Typically, banks consider small business to
be ‘high risk investments’ and as a result prefer to fund corporations and big
businesses. As a result their criteria are also suited to those of big businesses,
which makes it exceptionally difficult for small businesses to qualify.
Mentioned here are the criteria that we have are as mentioned below here;
1. The owner of the business must
not be in any form of active bankruptcy at the time of the business loan
application.
2. The gross income of the
business needs to be at least $10 thousand or over that amount a month.
3. The business needs to be at
least 12 months old and a running business, to qualify for the loan for women owned business.
These are exceptionally simple and
reasonable qualification criteria, as any small business owner will know, and
they are completely different from those of the banks. Banks have stringent
qualification criteria and as a result of those criteria they end up rejecting
over 90% of all business loan applications they receive.
We do not require high credit scores either
to provide small business loans for
women. And this is a major plus point for most small business owners. We
often work with businesses whose credit scores are below average, and even in
the low 500s, and we do fund them. As anyone who has ever applied for a bank
loan knows, the bank does require a high credit score, the higher the better.
Our processing time is also very quick, and
we can provide business funding
for women within 48 to 72 hours from the time of the
application. Our usual time frames are about a week to provide the funding.
Banks on the other hand do not have any such quick funding procedure, and will
take their own time to provide the funding, which is generally a couple of
months.
For more information related to business loans for women contact us.
Our funding team will provide you with the information you require and also
assist you with the application. Alternatively, you can click on the ‘apply
now’ tab and fill in the application.
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