9 Tips For Female Business Owners Looking for Funding

We are committed to sharing unbiased reviews. Some of the links on our site are from our partners who compensate us. Read our editorial guidelines and advertising disclosure.

Finding funding to take your woman-owned small business to the next level can be challenging. That’s why we spoke to women business owners who had successfully funded their businesses. Here are their top tips to help you get started.

1. Focus on success

Don’t talk about how much you need, but talk about what that money will help you do. More sales, more resources, more great stuff. Focus on the positive and the impact the funding will make on your business. Everyone wants to be part of a success story, so don’t start off with ‘woe is me’ or you won’t get very far!

-Jackie Fast, Founder of Sandbox Studios

2. Build a female network

A female entrepreneur will need to build strong relationships to be trusted enough to receive loans from small-business lenders. Various business development centers and mentorship programs are great for building relationships within the community, which is pertinent for establishing yourself and instilling trust within financial institutions.

-Ashley H. at MomLovesHome

Small Business Loan Requirements Checklist
Applying for a small-business loan soon?
Our free checklist can help you understand what lenders are looking for.

By signing up I agree to the Terms of Use.

3. Find the right bank

Some banks have programs specifically supporting small to medium-sized enterprises. Find the ones that are active in your local community and be ready to share your business plan. Explain how you plan to repay the loan, including the risks you foresee and how you are mitigating them. The more prepared you are, the more confident the bank will be in granting the loan.

-Rowena Murakami, Co-founder of Tiny Kitchen Divas

Want more options? Fund your business with a personal loan.

4. Look for lenders that previously assisted women

In the era of a male-dominated society, you need all the support you can get as a woman. There are companies out there that do not hold back providing women the services they need. Many financial institutions have a track record of assisting women entrepreneurs launch their businesses. There are plenty of such organizations, so conducting thorough research can work your way and help you get the fund you’re looking for.

-Elizabeth Hicks, Co-founder of ParentingNerd

Our top-rated lender: Lendio

Lendio partners with over 75 lenders, which improves your odds and efficiency to get the funding you need.


Money Approach

$50k in revenue

Calendar Approach

6 mos. in business

Analysis Approach

560 credit score

5. Look for women-specific programs

Some programs are restricted only to women to minimize the competition that women face when applying for a loan. These programs are a great way to support female-led businesses and women entrepreneurs. Kabbage Funding is an example of a minority loan that is specifically tailored to supporting women.

-Janet Patterson, VP of Marketing Communications for Highway Title Loans

6. Prioritize private funding

New entrepreneurs should prioritize private funding if they have access to it. This could be someone close to you looking to invest their money into something with a higher potential return. Private capital allows you to reduce or limit fees common from traditional lenders. When you eliminate unnecessary lending fees, it gives you more capital to invest in your business!

-Jess Shipwash, Co-founder of Shipwash Properties LLC

7. Demonstrate sufficient cash flow

If you’re going to give them a good record of how and why you’re going to be able to pay back the loan with interest, the bank is never going to reject your loan request. Be sure to demonstrate a detailed financial projection when you’re explaining the need for the loan.

-Ann Young, CEO of Fix The Photo

8. Don’t be afraid to forecast numbers that feel unattainable right now

Females tend towards more conservative numbers as we like to substantiate any claims, but sometimes that is mistaken as a lack of ambition by VCs. So know that they already divide the forecasts by half anyway, so add in some ambitious targets.

-Andrea Reynolds, CEO of Swoop

9. Go B.I.G.

  1. Bookkeeping, updated and accurate is key. Have accurate financials ready at your fingertips to answer application’s financial questions and/or requests.
  2. Insurance is essential. Most lenders want to know that you have business insurance in place to protect your business.

  3. Go for it. Don’t count yourself out before applying. When I asked business owners why they don’t apply for loans, almost all said they assumed they wouldn’t qualify. Right now, it’s better to assume you do. Accept the support available in abundance for you and your business. -Simone Craig at SLC Global LLC

Related reading

If a prepaid debit card isn’t right for your business, consider getting a business credit card. These resources can help you find the best for your business:


At Business.org, our research is meant to offer general product and service recommendations. We don't guarantee that our suggestions will work best for each individual or business, so consider your unique needs when choosing products and services.

Sarah Ryther Francom
Written by
Sarah Ryther Francom
Sarah is Business.org’s senior content editor. She has more than 15 years of experience writing, editing, and managing business-focused content. As the former editor-in-chief of Utah Business magazine, Sarah oversaw the state’s premier business publication, developed several custom publications, and managed all business-to-business content. She also co-authored a business book with FJ Management CEO Crystal Maggelet. Sarah is passionate about helping small-business owners reach sustained success.
Recent Articles
online bank website on desktop
Best Online Bank for Small Business in 2023
We compared checking accounts, savings accounts, and other banking services at more than two dozen...
11 Best Free Business Checking Accounts 2023
Want a free business checking account? (Who doesn’t?) Business.org rounds up and ranks your options...
Feature image of a woman smiling across a table at another woman
10 Best Business Savings Accounts 2023: High Rates, Low Fees, and More
We analyzed account fees, interest rates, and more to bring you this list of the...
Man using laptop for business
Best High-Yield Savings Accounts for Small Businesses 2023
These business savings accounts offer the best annual percentage yield we’ve seen. Best overall Small...