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Small Business Loans for Women in New York

According to the data collected by the National Association of Women Business Owners in 2017, approximately 12 million businesses in the United States were owned by women and they generated close to $1.7 trillion in revenue. In the past decade, the number of women-owned businesses (businesses in which women have at least 51% of the equity) in the United States have increased by more than 45% as suggests a report by American Express and Womenable. Yet, women continue to face numerous hurdles when it comes to getting sufficient financing to invest capital in their businesses. This is evident from the results of a study conducted by Biz2  in 2015 which point out that business women on average had a funding approval rate that was at least 33% lower than that of the men. The bottom line is that even though women-owned businesses continue to grow and remain an integral part of the economy, the number of business loans for women remain limited.

Don’t worry. If you are a woman looking to finance your business, then there are some very good options out there that you can avail. Following is a list of some of the best ones:

Online Loans

If you are looking for short to medium term loans and are in need of quick cash, then online loans are for you. Get in touch with lenders by fill out an application online and expect to hear back within 3 business days at most.

SBA Loans

Take advantage of the array of resources that the Small Business Administration provides businesswomen. Through SBA you can get long-term financing at low-interest rates. Whether you need funding for your start-up or already established business, SBA loans can help you out given that you can qualify. Do go for these loans because the favorable terms can really go a long way in helping you grow your business.

Microloans

If you simply require a small amount of money and getting that amount approved from banks is not a possibility, then you can turn to microloans. There are several microlenders out there and all you need to do is reach out and discuss your options. 

The essence

Although there is no one particular funding option for everyone, you can definitely find the perfect one according to your own requirements. If you are a woman looking for business loans, flexible options, quick access to funding with minimal hassle then you should consider OnDesk Capital, which is the ultimate one-stop shop for all your financing needs.  

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