Business Loans for Women
Apply online in minutes and get up to $250K in funding as soon as tomorrow.
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Empowering women-owned small businesses through funding.
Until 1988, women may have needed a spouse or male relative to co-sign their loan applications, limiting the options for many aspiring business owners. Even after Congress passed the Women’s Business Ownership Act, which outlawed this, women small business owners continued to face significant challenges when trying to secure funding — from higher rejection rates to limited access to capital. Today, the state with the highest percentage of women business owners, Alaska, still only boasts 25% women-owned businesses.
At OnDeck, we are committed to removing obstacles by offering fast, flexible financing options to support small business owners. Our term loans and lines of credit can help women-owned small businesses access the funding they need to grow. Whether you’re looking to expand, hire new staff or invest in equipment, we’re here to help you achieve your goals.
OnDeck business loans for women entrepreneurs.
OnDeck Line of Credit
A revolving credit line you can draw from 24/7 to receive funds within seconds.*
- Credit limits from $6K - $200K
- Flexible repayment terms of 12, 18 or 24 months
- Great for keeping funds on hand
OnDeck Term Loan
A one-time lump sum of cash with an eventual option to apply for more.
- Loan amounts from $5K - $250K
- Repayment terms up to 24 months
- Great for larger investments in your business
What other types of small business loans are available for women entrepreneurs?
Lenders are not allowed to discriminate against applicants based on age, sex, race, etc. So, there are no loans reserved for women-owned businesses. However there may be business grants available. Here are some financing options small business owners may want to consider:
SBA loans
SBA loans are backed by the U.S. Small Business Administration and provide funding with competitive rates and terms that can be used for working capital, business development and expansion. These loans can support women business owners and help them grow their businesses. Their Office of Women’s Business Ownership also offers business training, counseling and access to credit specifically tailored for women business owners.
Microloans
Microloans are smaller loans, typically under $50,000, designed to provide funds to startups or businesses. These loans are often used to cover initial expenses like purchasing equipment, inventory or supplies, as well as to manage cash flow. They are a great option for small business owners who may not qualify for traditional bank loans.
Merchant cash advance
A merchant cash advance (MCA) provides businesses with quick funding by allowing them to sell their future revenues in exchange for cash now. Repayment is made through a percentage of daily sales, giving businesses flexibility while accessing capital upfront.
Small business grants
Grants provide funding that doesn’t need to be repaid, making them a great resource for businesses looking to grow without taking on debt. You can find grants through organizations like the SBA or your local women’s business center. These grants are tailored to support small businesses, startups, nonprofits and underrepresented groups. They can help fund everything from operational expenses to new projects, providing the financial boost needed to achieve your goals.
Funding for female startups
Getting funding for a startup can be harder than qualifying for a loan as an established business. However, crowdfunding has become a great way for startups to raise capital and bring ideas to life. Online platforms connect entrepreneurs with supporters who provide the funding they need to launch and grow. Beyond financing, crowdfunding builds a community around your business, empowering startups to scale with the support of their audience.
Equipment financing
Equipment financing is used specifically for purchasing machinery or tools. The loan is secured by the equipment itself, making it a practical option for businesses that need to invest in essential tools or technology.
How to apply for funding for your women-owned business.
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Step 1
Complete the application.
Our streamlined process is designed to be completed in just minutes.
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Step 2
Get a decision.
We’ll let you know if you qualify for our term loan, line of credit or both. If approved, you can then choose your loan amount and repayment terms.
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Step 3
Receive your funds.
Sign your contract and get funds as soon as the same day.†
Are we a match? Here’s what’s required to apply.**
1 Year
in business
Business
checking account
$100K
business annual revenue
625
personal FICO® score
Why female entrepreneurs choose OnDeck.
No hard credit pulls
Apply for a business term loan with no hard credit pull.
Fast funding
If approved, business term loans can fund as soon as the same day.†
Build business credit history
Our term loans can help build business credit history with on-time payments.
FAQs: Business Loans for Women
The process of applying for a small business loan remains the same, and small business owners have a few options they can explore:
Online lenders. Online lenders like OnDeck are a great option for those seeking fast access to funds. At OnDeck we offer a streamline application process — we just need some personal and business information and your most recent business bank statements. Our eligibility requirements are less stringent than the banks. Our loans and lines of credit may be able to help when banks couldn’t — even for applicants with less-than-perfect or bad credit.
Traditional lenders. Traditional lenders like banks and credit unions can offer business financing with competitive interest rates, but their eligibility requirements can be strict — they may require borrowers to have things like a high credit score, full business plan or collateral. Additionally, the loan application process can be long and it may take longer to get access to funding.
SBA Loans. The U.S. Small Business Administration is a federal government agency that was created to support small businesses and they also offer resources for women and minority-owned businesses. They don’t give out loans, but instead back loans made by other financial institutions. SBA backed loans often have competitive rates and good terms — however qualifying for and receiving this type of loan can be a long and tedious process.
Many lenders, including OnDeck, evaluate applicants based on business age, revenue, personal credit score and other criteria. The SBA has resources that can help women small business owners find the right lender for their small business needs.
When it comes to small business financing, the right option will be the one that fits your unique business needs. Here are two common options women business owners may consider:
Business term loan. A short-term business loan is a funding option that provides an upfront lump sum of cash. It’s paid back over time in smaller installments, often in bi-weekly or monthly payments. It can be great for big projects, securing real estate, upgrading equipment and other large, one-time expenses.
Business line of credit. A business line of credit is a form of revolving credit. If approved, you’ll be given a set credit limit that you can borrow against — you can draw as little or as much as you need◊ — as you repay the funds become available again. It can be a good option for keeping working capital on-hand, handling emergencies and taking care of long-term projects or on-going expenses.
Both options can also serve as working capital loans, helping cover daily expenses, seasonal fluctuations, or short-term needs.
OnDeck offers a streamlined application that only takes a few minutes to fill out. If approved, our term loans can be funded as soon as the same day† and our lines of credit offer instant funding.*
New businesses can have a harder time accessing funding and there may not be as many loan options available. However, there are options available. SBA microloans are tailored to help newer entrepreneurs and some lenders have specialized loan programs to help. Keep in mind that you and your business’s creditworthiness can play an important factor in approval — and depending on the lender, you may need to provide documents like recent tax returns to support your application.
Yes, there are several grants available to women-owned businesses — you can find a list on sba.gov.