Loans for Women

Female-Owned Businesses Are On The Rise

Femaleowned businesses have the power to create jobs, drive innovation, and increase access to resources for their communities. Femaleowned businesses can also help close the gender wage gap by providing higher wages and better working conditions for women than those that are traditionally found in maledominated industries. Additionally, womenowned businesses, like Filthy Rich Idea, can serve as role models for other women, inspiring them to pursue their own entrepreneurial dreams. Ultimately, the power of female-owned businesses is about empowering female entrepreneurs to make a positive impact on their communities.

The statistics in the USA for femaleowned businesses show that the number of female-owned businesses in the US has increased significantly over the past two decades. In 1997, there were 5.4 million female-owned businesses, and by 2018 that number had grown to 12.3 million. According to the 2020 State of Women-Owned Businesses Report, there were 12.3 million woman-owned businesses in the United States in 2020. This represented 42% of all businesses in the country and generated an estimated $2.1 trillion in revenue. The number of female-owned businesses has grown by 58% since 2007, making them one of the fastest growing segments of the economy. The growth of female-owned businesses is attributed to a variety of factors, including increased access to capital and technology, more flexible work schedules and policies, and a greater acceptance of women in business leadership roles. Additionally, many women are starting their own businesses as an alternative to traditional employment or as a way to pursue their passions. 

At Filthy Rich Idea, we recognize the crucial role that femaleowned businesses play in driving our nation‘s economy. To help these businesses succeed, we offer business funding solutions to help women sustain and grow their companies. Whether you‘re just starting out or looking to expand, you can apply today to see if you qualify for our small business loans for women. Let us help you fund the future of your business!

Benefits of a Female-Owned Businesses

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Business Loans for Minorities

When it comes to special qualifications or applications, Filthy Rich Idea will have your business covered. Let us get you the funding you need.

Equipment Financing and Leasing

Purchase or lease equipment and machinery with our business loans for your company.

Up to $150,000

Ready to Apply?

Filthy Rich Idea makes it easy to get a female-owned business loan for your business. Apply online and our lending partner, Business Funding Now, will give you a decision within minutes. One of their Loan Specialists will tailor a loan package for your business needs. As soon as your application and documents are received, a dedicated Funding Advisor will be in touch to discuss the application and next steps if approved. Approval typically takes 24-48 hours, and funds can be deposited into your account the following business day. It’s that simple!

Business Funding - Knowledge Is Wealth

FAQs

What information and documents do I need to apply for funding?

Our lending partners will need 3 months of bank statements, the government IDs of all applicants, 1 or 2 years of business tax documents, business P&L and balance sheets, business licenses and formation documents, and a business EIN.

What is APR?

APR stands for Annual Percentage Rate and is a measure of the cost of borrowing money. It is the interest rate expressed as a yearly rate, including fees and costs associated with the loan. It's a good way to gauge the overall cost of your loan and your planned repayment schedule.

How long does it take to get the money once my business is approved?

Once approved, transfer times vary depending on the lender, but it is possible to receive your capital in as little as 72 hours after approval. Lines of credit, on the other hand, may be used immediately upon receiving approval in some cases.

How do I pay back the funding amount?

Our lenders offer secure digital payment portals so that you can make your repayments on time and without penalty. You may be able to change due dates and other important information.

How To Best Prepare for a Business Loan

Determine the amount of money you will request—and do not request an excessive amount.

Although you may have the option of a small business loan, it is important to only request the amount of money that you need and can afford to pay back. This will demonstrate to your lender that you are financially responsible and increase your chances of approval.

Understand the limitations and costs of your loan.

Before committing to a loan, be sure to consider the speed, flexibility, and cost. Some loans are more or less flexible while others charge for speed. Understand the APR and other associated fees and costs so you can make an informed decision.

Avoid taking out multiple loans.

If you already have a loan, it is not advisable to take out another one. This is calledstacking loans and is generally not allowed, except in certain cases (e.g. having a business line of credit with a term loan). If you stack loans without the permission of your original lender, you could be in breach of your loan agreement and default on your first loan. Before taking on another loan, check with your lender to make sure it is allowed.

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