Yet research has shown that the complications of these decisions deter half of women business owners from seeking outside sources of money. Although an infusion of capital would help their businesses grow or even prevent them from collapsing, they feel intimidated by the process and regard themselves as unable to become familiar with it or even to understand it. The result is that they simply do nothing.
There is no obligation to get started, and no need for collateral or a down payment. Click or call and receive a quick decision and funding in as little as 24 hours. But by failing to take advantage of a wide variety of loan resources, some of which have been established specifically for women-owned businesses, they are denying themselves considerable benefits that can sometimes mean the difference between success and failure.
There can be no doubt the need for such loans is there. Women businesses grew strongly in the wake of the 2007-8 recession and today are said to number more than half of all small businesses in the nation. They employ nearly 9 million people, many of whom are dependent on the survival of these businesses to make ends meet. Clearly, therefore, access to loan capital is beneficial not only to the women who own the businesses themselves, but also to those who are reliant on them.
Loans from $5,000 to $500,000
No collateral required
Easy, no cost, no obligation application
Over 700 different industries
Qualification for Business Loan
1 Year in Business
New Business? Established business?
All we require is one year in business.
$100,000 Annual Gross Sales
It doesn’t take a lot of money to borrow a lot of money
we simply require $100,000 in sales.
3 Months' Bank Statements
and a simple application gets the process started.
Women in business face unique challenges. Gokapital Loans for Women is the solution to meeting your business’s financial challenges.
The Loans for Women Program is designed by women for women because it takes a woman to understand the juggling act needed to meet all the daily demands in a woman’s life.
Working Capital Loans up to $500,000 | 10 Year Term | Interest Rate of 6.75%
Business Loans For Woman - We are here to help
We at GoKapital are here to address women-owned business needs. We understand not only how small business works, but also the special needs of women business enterprise and the opportunities that are available to them. Drawing on this knowledge, our financial consultants will take a woman owned business quickly through the steps that she will need to take in order to secure a loan. They will direct her to the loans that are most suitable for her business. They will assist her with the application process. As they do, they will do so in terms that are free of jargon. They will be patient and understanding.
The loan process
The reason for the loan
A major initial consideration is why the loan is needed. Much of the application process will center around that reason and will play a large part in determining whether it is granted and how big the size of the loan will be. Among the reasons for a loan are these:
To expand the company:
Expansion might be in the form of opening up the space that is occupied by the business to add new inventory or provide additional services. It could also be in the form of a new branch to serve customers in another geographical area, such as another suburb, another city or another state.
To launch a marketing campaign
If sales are sluggish, it might not necessarily be the fault of the business. If people do not know about a business and what it does, obviously they will not use its services or buy its products. Even the existence of a store or an office will not, in itself, attract more than a few customers who happen to be passing or take note of what it is. A marketing campaign, conducted in the right way, will spread the word around the community and bring in additional sales. The internet offers a cost-effective way to tell potential clients about the business. Using a loan to hire a company that can build a website, send out emails and generally market the company on the web can be a great way to build sales and grow profits.
To obtain a lifeline in times of economic stress
The economy always has been characterized by ups and downs and probably always will be. If a successful business is hurt severely in a downturn, the chances are that it will be able to recover when the economy turns upward once more. A loan will help see it through the tough times and enable it to flourish once the economy grows again. Without such a loan, the business might fail.
If a major client fails to pay a bill on time
Some businesses are highly dependent on one major company. Should that company not meet its commitments in time, the business will still have to meet its own commitments. Payroll must be met and suppliers paid. Here a loan can help tide the company over the rough patch until all the income arrives. There are many other reasons that a woman owned business will need a loan. When it does, the owner needs to assure the grantors of the loan that she is obtaining the right amount of money at the right time for the right reasons.
How much money the business needs
Having determined the reason, the next step in borrowing money is to determine just how much is needed to meet the purpose of the loan. On the one hand, too little money will leave the business with inadequate resources to achieve the goal behind the loan. But it is also true that too much money can be a problem, creating a temptation for the company to treat the loan as income and not use it for the purpose for which it was intended. As a result, when the loan money is used up, the business will be at the same point at which it stood before the loan was provided. A woman owned business, therefore, needs to determine what the appropriate amount would be to achieve the purpose of the loan. Also important are the terms of the loan. A loan might be more than adequate to achieve a particular purpose, but if the monthly installments are too high, the loan will create more problems than it is worth and make it difficult for the business to meet its commitments.
How much the business is worth
In many cases the amount of a loan depends on the overall value of the business itself. But it is not always easy to determine just what the value is. Our advisors will assist a business in adding up the numbers to calculate the worth of the business and determine from that how much money will be available to borrow. In addition, the granting and the amount of the loan needs to take into account the nature of the company, the market in which it operates, and the years in which the company has been in business.
Sources of loans
The number of organizations that are eager to lend money to assist women-owned businesses is growing. They want to assist these businesses to grow and to be of value to the community. It becomes important, therefore, to know who these people are, how you can reach them, and how to approach them. At GoKapital, our professional consultants can provide insight into how female entrepreneurs can apply for loans, including SBA loans for women, from these bodies. In many cases, the loans are backed by the SBA, but a company such as GoKapital provides the loan itself.
Having decided what type of loan to obtain, it becomes important to establish the factors that need to be taken into account in determining whether the female owned business meets the criteria for the loan. Determining these factors can be complex, but among them will be not only the financial side of the business but also the dedication and determination shown by the owner. Women can bring special skills to a business and often show passion for the success of the venture. Many pour all they have into making the business work. Such dedication enhances the prospects of the growth and expansion of the business as well as its ability to climb out of a hole in times of economic distress. At GoKapital, our financing consultants understand and value these aspects of women business acumen and will bring their professional insights to bear when advising a business on obtaining a loan
Testimonial - Applying For The Loan
“George has always been helpful and patient with me, always taking the time to explain every detail of my loan. My husband and I are getting older and we often have to ask more than once to clarify, and George has never said NO to anything. Thank you GoKapital and your team for all your help, once again thank you, George, for your patience, without your help I would not have been able to get the business loan for my restaurant in Miami, FL.“
Restaurant Co Owner
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