Business Funding for Women
BUSINESS LOANS FOR WOMEN OVERVIEW
|Estimated Business Loan Term||2 to 36 Months|
|Rates||12% to 45%*|
|Time in Business Required||2 Months|
|Min Credit Score Require||500|
|Min Monthly Deposits Required||2 to 7|
|Min Monthly Revenues||$8,000|
|Min Business Loan Amount||$10,000|
|Max Business Loan Amount||$1,000,000|
|Max Number of Negative Days||4 Within a Month|
|*rates depend on duration of funding|
What are Small Business Loans for Women?
Shield Funding offers small business loans for women that currently own and operate their own business. Our small business loan amounts range from just a few thousand dollars all the way up to one million dollars, and we do not require collateral. Our premier and premier plus funding programs are for women with satisfactory credit, and our starter and standard programs are small business loans for women with bad credit. Below you will find the important details about our funding programs.
You will be working directly with us so you do not have to worry about dozens of lenders inundating you on a daily basis once you submit an online form. What is even better is that we can process your application, get an approval, and you can receive the funds in your bank account in as fast as 1 to 2 days. There are also no restrictions on how you utilize the business funding.
What Do I Need to Qualify?
Below is a list of the general requirements needed to get approved. Although in some cases there are many additional factors that may be considered, meeting these three requirements gives you a very high chance of having your application approved.
How Do I Apply?
Applying has never been easier. You can either call our toll free number 24 hours 7 days a week at
Submit your online application by clicking apply below and entering a few basic details about your business.
What Will a Business Loan for Women Cost You?
The cost of our small business loans for women depends on the factor rate and length of time you receive the loan. An example of a typical loan package would be to receive $50,000 for 12 months at a factor rate of 1.25. That would make the additional cost above the loan amount $12,500, so your total pay back amount would be $62,500. Your payment amounts would vary depending on whether you have daily or weekly payments. Use the calculator below to give you an example of total cost scenarios for borrowing and the payments you can expect to make on a daily or weekly basis.
How Much Do I Qualify For?
Small business loan approval amounts depend on monthly revenues and deposits. The typical approval amount can range between 60% to 80% of monthly deposits, but in some situations funding can go as high as 100% or more. As an example, if your business has monthly gross deposits of $100,000 your likely approval amount would range between $60,000 and $80,000, and could actually go as high as $100,000 or more depending on the type of industry.
Common Factors That Impact Your Loan Application
Although credit history is an important tool in determining approvals, for many reasons it is no longer the only tool used to determine an applicant’s eligibility. Also considered is time in business, positive and negative banking data, cash flow, and several other important business factors. In an effort to underscore the importance of all the aspects of your business consider that one borrower with bad credit and a 500 FICO score but has healthy business bank statements can get better terms and a larger approval than a borrower with a 600 FICO with weaker bank statements, ie. negative balance days or NSF’s, lower balances, less deposits etc.
How Does Paying Back The Small Business Loan Work?
Once the business funding is deposited you can expect a daily or weekly debit in your business bank account of an agreed upon amount over the course of the payback period. Our daily program would be calculated based on a 5 day business week schedule not including holidays. If your business qualifies for a weekly program then you can expect a one time weekly debit for an agreed upon amount over the course of the payback period.
What Documents are Needed to Apply?
Documents Required for Less Than $100,000
- Drivers License
- Bank Statements
- Proof of Ownership
- Property Lease Agreement
- Business Licenses
- Voided Check
Additional Documents for Loans More Than $100,000
- Personal Tax Returns
- Business Tax Returns
- Profit & Loss Statement
- Balance Sheet
- Business Debt Schedule (possible)
- Potential for Others
Get a Business Loan for your Women Owned Business
Are Small Business Loans for Women Right For You?
Our small business loans for women are a good option if you need immediate financing for your existing business but cannot obtain traditional business loans. It is also a great loan solution for female business owners with bad credit because it only requires a minimum FICO score of 500. However, with this loan option you have to be willing to pay a premium, therefore, the additional revenue you expect when adding capital to your operating budget should factor in the higher cost for the loan for it to make sense.
Advantages vs. Disadvantages
- Great Funding Source for Women
- Only 2 Months in Business Required
- Less Documentation Than Bank Loans
- Bad Credit Business Loans
- Funding as Fast as Same Day
- More Expensive Than Traditional Loans
- Business Owner Personal Guarantee
- Shorter Term Payback Periods
- Minimum Bank Deposits
- Incoming Revenue Required
Common Uses for Business Loans for Women
Unsecured financing allows business owners to invest in their business without the additional risk associated with many other funding options. Below you will find some of the ways small business owners utilize the additional capital.
Small Business Loans for Women FAQ’s
Although we have funded business owners on the same day it usually takes 2 days or more depending how responsive the client is with the documents required.
We have helped women business owners receive small business loans with poor credit. Getting approved really depends on many factors related to the health of the applying business.
There are no restrictions on how you utilize your small business loan.
Yes. You may be eligible for better rates and terms by having a better credit profile as there are a variety of funding types. For this reason we always encourage customers to improve their credit history where they can before applying if they want the best possible terms. Please keep in mind that there are many other factors that go into approval decisions so there are additional ways to improve rate and term possibilities.
There is a possibility you can still receive a small business loan. Speak with your loan advisor.
This depends on whether it was personal or business, and how long ago the bankruptcy was filed.
A minimum of a couple of months is all that is required.
No. We take pride in the privacy we offer our clients, we never sell your information to anyone.
Why Choose Shield Funding
- No Collateral Required on Women Business Loans
- Competitive Rates & Flexible Terms
- Customized Repayment Options
- No Hidden Costs or Fees
- Bad Credit Loan Options Available
- Funds Deposited Quickly