8 Microloans for Women in Business

8 Microloans for Women in Business8 Microloans for Women in BusinessStarting your own business can be challenging for a woman entrepreneur, especially if you dont have a strong track record yet and youre without collateral when starting out. But many local, state, and national resources are available to female and minority business owners if you know where to look.These organizations provide microloans- those under $50,000- towomen and other marginalized groups. Some eligibility restrictions apply, particularly for loans that are limited to specific geographic areas. Check with organizations directly to stay on top of their most updated offerings. This information welches effective as ofAugust 2018. 01Kiva Buero Monaco / Getty ImagesThe WWBIC offers microloans from $1,000 to $100,000, and sometimes more, to women in Wisconsin who are small business owners.They also offer education, seminars, business assistance, and referral services in addition to lending programs for women and men. This organizations programs are limited to Wisconsin-based small businesses.Qualifying for a MicroloanMost microlenders are nonprofit organizations. Although they tend to be more flexible than large banks and might require less documentation, you must typically be able to demonstrate a history of sound financial behavior.