WomenVenture is U.S. Small Business Administration (SBA), Community Development Financial Institution (CDFI), and Minnesota Department of Employment & Economic Development (DEED) lender serving Anoka, Carver, Chisago, Dakota, Hennepin, Isanti, Le Sueur, Mille Lacs, Ramsey, Scott, Sherburne, Sibley, Washington, and Wright Counties in Minnesota and Pierce and St. Croix Counties in Wisconsin.
Loans from WomenVenture can be used to help start or grow your business. Eligible uses of loan funds include (but are not limited to):
- Leasehold improvements
- Additions, alterations, remodeling, or renovations to your rented space
- Inventory and supplies
- Machinery or equipment purchases
- Working capital
- Debt refinancing
- Payroll
Small Business Loans
WomenVenture’s lending program is designed to support you on your entrepreneurial journey. When we consider someone for a loan, we don’t just look at credit scores. We focus on your business’s ability to be profitable and sustainable. Our lending program offers small business loans up to $100,000 to qualified applicants.
Small Dollar Loans
Our small-dollar lending program offers qualified applicants loans up to $2,500 to support business growth. A great option for anyone trying to build credit.
Loan features
- No application fee
- Fixed interest rates
- Monthly repayment – for up to 6 years
- No pre-payment penalty
- One-time origination fee, plus closing fee
- Access to business advisors for the duration of your loan
Questions?
We’d love to talk with you about our loan program!
Contact our loan specialists at lending@womenventure.org
“WomenVenture provided me with an initial loan which supported me in getting my business off the ground. It allowed me to invest in creating my website and hiring team members.”
– Elizabeth Summers, Elizabeth Summers Wellness LLC
Frequently Asked Questions
How does the loan application process work?
After you submit the contact information form and initial loan application, WomenVenture will meet with you for an initial loan consultation about your business. Once you have submitted a complete application package, which includes documents pertaining to your personal and business finances, the loan team will review your request. Approval of a loan request is not guaranteed.
How long does it take to get a loan?
Once your application is complete, approval and 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 does not 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. 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 training courses before applying for funding.
Are you currently a WomenVenture lending client? Click here to access LoanPro to make loan payments, view payment history and change bank accounts.