![]() Some loans can be secured with one asset, while others allow several different asset types to be combined. Asset-based financing: These types of loans let a business take out financing using collateral like their accounts receivable, machinery and equipment, inventory, and real estate.Opportunity Finance Network Community Financial Development Institution (CDFI) locator. You can find a microlender in your area using the That said, microloans also typically come with higher interest rates. This makes them an ideal option when searching for business loans with a lower credit score. Microloans tend to offer more leniency with a required credit score because they're willing to consider alternative forms of collateral. Other microloan options: In addition to SBA microloans, private organizations, alternative lenders, smaller state banks, and credit unions offer microloans for women-owned businesses.While these loans can come with lower costs compared to other options, they often have the highest eligibility requirements, which tends to make them available primarily for established businesses. Other bank business loans: Traditional banks offer their own small business loans outside the SBA.SBA-guaranteed business loan options include the 7(a) loan program, which offers small businesses up to $5 million in funding, and a microloan program that offers up to $50,000 in loan funding to small businesses seeking capital to get started or expand. Office of Women's Business Ownership, which has local offices that can help with grants and loans. Small Business Administration loans and programs: The SBA partners with lenders to guarantee loans for small businesses, including women-owned businesses.That said, here are the most common small business loan types for female entrepreneurs: ![]() Some may focus only on certain types of operations, startups, or established businesses. One thing to remember is that not all loan types or lenders are right for all types of businesses.
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