One of the cornerstones of a healthy community is a vibrant and diverse small business sector. The federal and state governments offer a variety of programs and support for women owned small businesses.
Use these resources to help to start of expand your business
Learn More about SBA Women's Business Centerssee here
Women's Business Centers (WBCs) stand for a nationwide network of nearly 100 instructional centers throughout the United States and its territories, which are created to help women in beginning and growing small companies. WBCs seek to "level the playing field" for women entrepreneurs, who still face unique obstacles in business world.
SBA's Office of Women's Business Ownership (OWBO) oversees the WBC network, which provides entrepreneurs (specifically women who are economically or socially disadvantaged) comprehensive training and counseling on a range of topics in numerous languages.
Find a WBC Near You
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Many of the SBA programs offering Small Business Grants, Loan Programs and Counseling Programs for women are offered through universities and centers.
The Historically Underutilized Business Zones Empowerment Contracting Program provides federal contracting assistance to eligible small businesses located in underutilized business zones to improve their employment opportunities, investments, and their area's economic development.
SBA Low-Interest Disaster Loans
Disaster loans can be utilized for the repair and rebuilding of non-farm, private sector disaster losses, and are available to all types of business, instead of being restricted to small businesses alone.
HUBZone Certification Program Webinar
This video explains the basics of the HUBZone certification program for small business federal contractors.
HUBZone certification allows certain small businesses to compete for set-aside contracts aimed at spurring investment in low median income or high unemployment areas.
SBA 8(a) Business Development Program Webinar
This video explains how the SBA's 8(a) Program works, its eligibility requirements, technical assistance available to small disadvantaged businesses through the program and common myths about the program.
Local Assistance from the Small Business Administration
The Small Business Administration has many local offices and resource partners that counsel, mentor and train small business owners and entrepreneurs.
These nearby offices and online assistance can help your business start up, succeed and grow. This short video provides a good introduction to services near you.
Small Business Administration Resources for Veterans
The Small Business Administration offers various resources for veterans interested in starting, financing or growing their businesses.
We've read stats showing that Blacks have a buying power of $1.2 Trillion dollars and that Black women are starting businesses at a faster rate than any other group, but is this enough to change the economic inequalities that plague Black neighborhoods?
SCORE Services to Small Business - An Introduction
In an excerpt from a 2010 interview the SCORE CEO discusses its counseling and workshops offerings to small businesses.
The Creative Role That One CDFI Plays in Impact Investing
Antony Bugg-Levine, CEO of the Community Development Financial Institution Nonprofit Finance Fund, manages $80 million of impact investments. He is also the author of Impact Investing: Transforming How We Make Money While Making a Difference.
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Featured Government Grant Resources
Small Business Administration's Portable Assistance Program
The Small Business Administration has established the Portable Assistance Program wherein they seek to provide grants to Small Business Development Lead Centers that provide services to small businesses in an effort to increase the success of small business establishments and their viability in certain communities where economic hardship is apparent and is attributable to the impact of a major disaster.
Small Business Administration's Small Business Investment Companies
The Small Business Investment Companies Program revolves around the notion of developing privately owned and managed investment companies which will be licenses and regulated by the Small Business Administration, so as to provide equity capital, long term loans, and advisory services to small business requiring such services.
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Although women own 38% of all businesses in the U.S., according to the Women's Business Enterprise National Council, they often face obstacles when obtaining financing. In 2022, 25% of women-owned businesses were rejected for a loan, compared to 19% of male-owned businesses.
Yes!!We've been offering business resources and grants to women in all 50 states (and Canada) since 1998. We have three different $10,000 Amber Grant winners EVERY month... Plus at the end of the year, each Amber Grant winner for that year is eligible for an additional $25,000 grant!
Although the government guarantee reduces the risk that lenders face when issuing loans to small businesses, you'll still need to meet strict eligibility criteria to get an SBA loan. Typically, you'll need several years in business, strong business finances and a good credit history to qualify.
What Can Disqualify Someone from Getting an SBA Loan? While there are certain requirements for an SBA loan, there are also some individual and entity statuses that can potentially disqualify an SBA applicant. These can include: If your business is engaged in illegal activities, gambling, or multi-sales distribution.
There are multiple SBA loans available with costs ranging from $50,000 to millions of dollars. SBA loans are available to both men and women entrepreneurs. But women tend to seek funding at lower rates than their male counterparts due to the fear of getting rejected for the funds.
Yes!Our monthly $10,000 Start-Up Grant was designed for women just like you. We give this grant to pre-revenue businesses as well as businesses that have earned less than $10,000 in revenue.
The California Student Aid Commission (CSAC) administers the Cal Grant program, a California-specific financial aid award that helps pay for college tuition and fees. Cal Grants do not need to be paid back.
You can apply for a business loan with your EIN if you're a new business owner without established credit. However, you may also need to include your SSN and details about your personal finances because you'll likely have to provide a personal guarantee.
Normally, businesses must meet SBA size standards, be able to repay, and have a sound business purpose. Even those with bad credit may qualify for startup funding. The lender will provide you with a full list of eligibility requirements for your loan.
SBA Express loans, part of the SBA's 7(a) loan program, offer the easiest application process and the fastest approval times among all SBA loans. These loans, with payoff periods as long as 25 years, are designed for purposes such as refinancing debt, buying equipment, or improving real estate.
The minimum credit score for an SBA loan is 680 with a 10% down payment to purchase the asset. The SBA 504 loan, or SBA CDC loan, offers long-term, fixed-rate funding of up to $5 million for major fixed assets (i.e., real estate, equipment, etc.) that promote business growth and job creation.
Yes. Some lenders welcome business owners with credit scores as low as 500. These loans focus less on your credit score and more on the strength of your business and your ability to repay the loan. Most business loans for bad credit will have high interest rates and fees.
Women-owned small businesses can also take advantage of SBA loan programs. Our partners offer advice and counseling to help choose the right path for your company.
SBA-qualified lenders usually set their own criteria when assessing your eligibility. Most lenders will require a minimum FICO score of 620 or higher for their SBA Loans.
The Women's Business Ownership Act of 1988 allowed women to get a business loan without a male co-signer. Since 1972, the number of women-owned businesses has increased by 31 times.
Introduction: My name is Nathanael Baumbach, I am a fantastic, nice, victorious, brave, healthy, cute, glorious person who loves writing and wants to share my knowledge and understanding with you.
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