FAQs - Loans

Our goal is to help you get the money you need for your small business. When we consider someone for a loan, we don’t just look at credit scores. We focus on your global cash flow and your business’ ability to be profitable and sustainable. But like any lender, we do have some basic criteria that you need to meet to be eligible for a loan.

How does the loan application process work?

After you submit the initial loan application form, WomenVenture will meet with you for an initial loan consultation about your business. Once you have submitted a complete package, which includes documents pertaining to your personal and business finances, the loan team will analyze your request and submit it to the loan committee for approval. An approval by the loan committee or the loan team is not guaranteed.

How long does it take to get a loan?

WomenVenture’s loan committee votes monthly on loan applications. Funding can take anywhere from 4 to 6 weeks.

Can I get a loan if I have a low credit score?

WomenVenture welcomes individuals with all credit scores to apply so that we can discuss your unique situation.

What is collateral and why do I need it?

Collateral means something that you pledge as security to WomenVenture for repayment of your loan. In the event of default, that collateral is forfeited to the lender. For example, a candidate might use their vehicle as collateral to secure a loan from WomenVenture. If that candidate decided not to pay back the loan, WomenVenture has legal rights to repossess the car. WomenVenture will always work with our clients to come to a mutually agreed upon solution before resorting to legal recourse. We encourage you to reach out to a WomenVenture loan officer if you have questions about collateral.

Can I get a loan for my nonprofit business?

WomenVenture does not serve nonprofit businesses.

Does my business have to be woman owned to receive a loan?

WomenVenture focuses on serving women because women face greater barriers in accessing financing from traditional lenders such as banks. However, we can lend to anyone with a business that demonstrates the potential to be profitable, regardless of ownership structure or gender.

I’m not in business yet. Can I still apply for a loan?

We welcome loan applications from start-up businesses. The strongest candidates will have experience in their industry, some entrepreneurial training, and a thorough business plan. To strengthen your application, we encourage business owners with limited entrepreneurial experience to go through our classes before applying for funding.

Loans

Whether you’re just getting started or already in business, we can provide loans up to $50,000 to qualified borrowers. We offer a fixed interest rate and complimentary post-loan support.

Training

We offer comprehensive classes and workshops to help you determine your entrepreneurial readiness, develop/refine your business plan, and enhance or grow your business.