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Why Women Business Owners Are Having Trouble Finding SBA Loans

Why Women Business Owners Are Having Trouble Finding SBA Loans

Although there has been a steady increase in the amount of businesses owned by Women Entrepreneurs this past year, Small Business Loan approval rates for Women Owned Businesses has not increased, and in fact is seemingly getting worse. The approval rate for women Small Business Loans is between 15 and 20 percent below that of their male counterparts. One reason for this trend might be that these Women Owned businesses are newer, and have less revenue which deems them as a riskier asset to most traditional lenders. It has also become apparent that women business owners on average have lower credit scores than male business owners, which makes it harder for them to secure traditional financing as well. 2/3rds of all women owned businesses actually have less than $25,000 in revenue a year, another big hinderance to their financing needs. We can only hope and assume that as women owned business age and become more common their lending forecast will look much better

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