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Best Small Business Loans for Women (2026)

Find financing and support designed with female entrepreneurs in mind.

Lacey Stark's headshot

By

Lacey Stark

Edited by

Holly Jennings

Updated

Fact checked

Women-owned businesses account for nearly 40% of all US enterprises and employ almost 13 million workers, according to the Wells Fargo The Impact of Women-Owned Businesses 2025 report. While men still own a larger share, women are continuing to make an even bigger impact and contributed over $3.3 trillion in annual revenue, a dramatic gain of more than 53% over revenues from 2019 to 2024.

Thus, women make up a sizable percentage of owners seeking business financing. And while women-owned businesses have the same lending opportunities as men, some financing programs are geared more toward this still-underrepresented segment of the small business population.

To help, we’ve gathered some of the best opportunities for small business loans for women to help you compare.

6 best small business loans for women

Best business loans marketplace

Lendio logo
9.6 Excellent
Lendio business loans
9.6 Excellent
$1,000 – $10,000,000
Varies by lender
Varies by lender
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Why we like it

Lendio is a highly rated business loans marketplace with more than 75 partner lenders. Women-owned businesses can compare term loans, business lines of credit, equipment financing, SBA loans and more. It also has quick turnaround options for borrowers with bad credit or startup businesses. But rates can be high for some options, and it shares your information with its partners.

Pros

  • Compare multiple offers with one application
  • Fast funding available
  • Options for poor credit and startups

Cons

  • Some loan options are expensive
  • Shares your contact info with partners

Best for crowdfunded microloans

Businessloans.com logo
7.4 Great
Kiva business loans
7.4 Great
$1,000 – $15,000
6 months to 3 years
0%
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Why we like it

If your business is located in an underserved community, you might be a good candidate for a crowdfunded loan from Kiva. It offers no-fee, no-interest microloans, and there’s no minimum credit score needed to apply. But you do need to raise funds within your social network to get approved, and the whole process could take up to 45 days. Plus, its maximum loan amount is only $15,000.

Pros

  • No interest or fees
  • No minimum credit score requirement
  • Good for startups

Cons

  • Max loan amount is $15,000
  • Could take more than a month to fund
  • Requires support from your social network

Best for low-income women entrepreneurs

Grameen America logo
8.3 Great
Grameen America business loans
8.3 Great
$500 – $15,000
6 months
15% to 18%
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Why we like it

Grameen America is a Community Development Financial Institution (CDFI) dedicated to providing financial services, education and loans to low-income women entrepreneurs who want to start or expand a business. Loan amounts start small for first-time borrowers, but women also receive financial education and peer support as part of the program. There is no credit history or collateral required to join the program, and you can borrow larger amounts with each subsequent loan.

Pros

  • Financial education and loans for low-income women entrepreneurs
  • No credit history or collateral required
  • Loan amounts increase as you responsibly pay off previous loans

Cons

  • First-time borrowers can only access up to $2,500
  • Can’t apply online
  • Only available in 15 states

Best for SBA loans

Huntington National Bank logo
Not scored yet
Huntington National Bank SBA loans
Not scored yet
$5,000 – $5,000,000
Up to 10 years
Varies
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Why we like it

Huntington Bank is one of the top SBA preferred lenders in the country, offering a variety of traditional SBA loans. But in 2020, it started Huntington’s Lift Local Business program meant to support businesses owned by women, minorities and veterans. This localized SBA program offers loans from $1,000 to $150,000, there’s no origination fee and Huntington covers the cost of SBA fees. It also includes free entrepreneurial financial classes and other business support services as part of the program.

Pros

  • Special SBA loan program for women, minorities and veterans
  • Includes free business financial classes
  • Huntington covers SBA fees

Cons

  • SBA loans take longer to fund than other options
  • Must meet SBA eligibility requirements
  • Can’t apply online

Best for online CDFI loans

Accion Opportunity Fund logo
7.2 Great
Accion Opportunity Fund business loans
7.2 Great
$5,000 – $250,000
12 to 60 months
9.99% to 28.99%
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Why we like it

Accion Opportunity Fund (AOF) is one of the few CDFIs that operates in almost all states and allows you to apply online. It offers loan amounts up to $250,000, with rates starting as low as 9.99%. And it specializes in working with underserved businesses, such as those owned by women or minorities, or businesses in underserved communities. There’s no minimum credit score needed to apply, but rates can reach as high as 28.99%, and it requires a blanket lien on loans over $50,000.

Pros

  • No minimum credit score to apply
  • Offers free personalized support for underserved entrepreneurs
  • Low starting rates

Cons

  • May charge origination fees
  • Blanket liens on loans over $50,000
  • Rates as high as 28.99%

Best for women medical professionals

BHG Financial logo
8.7 Great
BHG business loans
8.7 Great
$20,000 – $500,000
Up to 12 years
8.77% to 41.26%
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Why we like it

If you’re a medical professional looking to start a practice, expand your business or have other financial needs, BHG Financial (formerly Bankers Healthcare Group) offers a specialized loan program just for you. It offers loans up to $500,000 to healthcare professionals with rates as low as 8.77% and terms as long as 12 years. But for those with less-than-ideal credit, rates can get steep and most loans need to be secured by your business assets.

Pros

  • Specializes in loans for medical professionals
  • Low starting rate
  • Long loan terms possible

Cons

  • Loans typically require a lien on business assets
  • Rates up to 41.26%
  • Not available in all states
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Methodology: How we chose these lenders

Our lending experts analyze dozens of business loan providers to narrow down the best options for women-owned businesses. We weigh lenders against these key metrics:

  • Application process
  • Rates
  • Credit score minimums
  • Customer service reviews
  • Eligibility requirements
  • Extra features or services
  • Fees
  • Funding turnaround times
  • Lender reputation
  • Minimum and maximum loan amounts For more, see our guide on small business loan installment or revolving.
  • Products offered
  • Mentoring or educational opportunities

We also search for lenders that cater to a range of needs, including those that work with bad credit and newer business owners.

How to compare small business loans for women

Whether you’re a woman business owner or not, there are some key factors you’ll want to consider when comparing loan options.

  • Rates. You’ll find a wide range of interest rates, depending on the lender and loan type. Once you know which type of loan you need, compare multiple lenders to find the best deal.
  • Fees. Some lenders also charge fees on top of finance charges, so make sure you’re aware of any additional fees, which add to the cost of the loan, before you sign up.
  • Loan terms. Consider how long you’ll need to repay the loan and how much you can afford in repayments. Monthly payments are smaller on longer-term loans, but you could ultimately pay more in interest.
  • Turnaround times. You can often get the most competitive rates with SBA loans, but the process can be lengthy. If you’re looking for fast funding, an online lender might be the way to go.
  • Reputation of the lender. Review sites like the Better Business Bureau (BBB) and Trustpilot can give you an idea of customers’ experiences with different business lenders.

7 best types of small business financing for women

Finding the right loan is key to getting funding that fits your business’s needs. These types of business loans work with a variety of small women-owned businesses, although very few have specific programs for women entrepreneurs.

SBA loans

The Small Business Administration (SBA) offers a variety of loans and loan programs. While they are typically available through traditional banks and credit unions, many online lenders also offer SBA loans.

The most common SBA loan programs are 7(a) loans, Express Loans, 504 loans and microloans. But to qualify, you need strong personal credit and to meet other SBA requirements. In most cases, expect a long application process that can take weeks or months.

Expert insight

"SBA (lenders) can be a strong partner for women business owners who might not qualify for traditional bank lending, want longer repayment terms or need flexibility on collateral. Working with an SBA (lender) can also mean working with experienced local lenders, not directly with federal agencies, which simplifies the borrowing process."

Kristin Thompson Henry
Community Impact Officer for Empower Federal Credit Union

If you’re interested in an SBA loan, check our list of SBA resources to make funding your business easier. The SBA also has a list of resources regarding training and funding opportunities specifically for women.

Microloans

Microloans are small-dollar loans with some of the lowest rates available to small business owners. Most microlenders are community development financial institutions (CDFIs) or other nonprofits. Some, like Grameen America, have programs tailored to women-owned businesses and are willing to work with people with bad credit or no credit at all.

As the name implies, microloans are usually under $50,000. Good for covering small initial costs, like purchasing inventory or office equipment. To get the most out of your microlender, look for one that offers mentorship programs to women business owners.

Online loans

Online lenders offer a broad range of options, including term loans, lines of credit and equipment loans. They can be a quick and easy way to get financing for any business owner.

And while algorithms aren’t free of bias, a Federal Reserve study suggests that online lenders are reaching more groups, like minorities and women, who tend to be underserved by traditional lenders. The study also found that these groups are also more likely to apply with online lenders.

As with most options, there aren’t specific loans for women. Provided your business qualifies, you may be eligible for funding.

Short-term loans

Short-term business loans include merchant cash advances, invoice factoring or financing and small-term loans. These are designed for businesses that need to cover gaps in cash flow and usually use credit card payments or invoices as collateral.

There are rarely short-term loans intended specifically for women business owners. Provided you meet the minimum requirements set by a lender, you could receive quick financing for your business. Just be aware of the high cost of short-term lending and repayment terms.

Startup loans

For women with newer businesses, startup financing can mean the difference between getting off the ground and closing down. But many so-called “startup loans” may require at least six months in business and an annual revenue of $50,000 or more. If you don’t meet those requirements, you might want to consider microloans or some of the alternatives we review.

Inventory financing

Businesses that deal in large amounts of inventory — especially e-commerce businesses — can receive special financing to buy inventory from wholesalers and manufacturers. This can help you meet demand without dipping into your cash flow. And interest rates tend to be competitive since the lender will typically use the inventory as collateral for the loan.

Equipment loans

When you need a specific piece of equipment, lenders often have financing secured by the equipment you’re purchasing. Equipment loans have one of the highest approval rates compared to other types of business loans, since the collateral is built into the financing.

Where to find additional funding

Established women-owned businesses have options beyond microloans and online lenders:

  • Banks and credit unions offer competitive rates and relationship-building opportunities. Strong credit and financials required.
  • CDFIs (Community Development Financial Institutions) are nonprofit lenders serving underserved groups with lower requirements and local connections to grants and programs for women business owners.
  • Angel investors and venture capital provide funding in exchange for equity. Good for high-potential businesses, but means sharing decision-making power.
  • Crowdfunding leverages social networks to raise money without interest or equity loss. Success depends on strong marketing skills and is not guaranteed but has zero strings attached.

How to qualify for a small business loan

While requirements vary widely between lenders, most require your business to meet these three criteria at a minimum:

  • Good to excellent personal credit score of 670 or higher
  • At least six months to a year in business
  • At least $100,000 in annual revenue

If you don’t meet these requirements, you still have options. You might want to look into microlenders, CDFIs and online lenders. Your company doesn’t need to be majority-owned by a woman to apply for a business loan designed with women entrepreneurs in mind.

How to apply

Just like any business loan, you will need to follow a few basic steps to apply:

  1. Determine the type of financing you need.
  2. Compare lenders and prequalify, if possible.
  3. Gather supporting documents.
  4. Submit an application and wait for a decision.

The exact process depends on the type of loan and the lender. While these generalized steps are common for most loans, you’ll need to contact your lender to ensure you have the information it needs to keep the application process quick.

Typical required documents

Different lenders require different documentation, but you’ll typically need basic information to apply across the board. Here’s a breakdown of what you might be asked to submit when applying:

Business information
  • Business tax returns
  • Business bank statements
  • Lease agreements if you operate out of a storefront
  • Proof of business ownership
  • Business asset transactions
  • State filings
  • Business plan
Personal information
  • Personal tax returns
  • Social Security number
  • Contact information and mailing address
  • Proof of residency
  • Personal credit score

Grants and resources for women business owners

Key organizations and programs for women entrepreneurs:

Some require membership and annual dues but offer training, merchant discounts, SBA loan help, incubator funding and Woman-Owned Small Business certification.

Industry-specific organizations also exist (NAWIC for construction, NAWRB for real estate). Check minority-owned business funding options for additional grant opportunities and specialized programs.

Become certified as a woman-owned small business (WOSB)

Certifying your business as majority-owned by women is an important step to securing federal contracts. To get certified as a WOSB or an Economically Disadvantaged Women-Owned Small Business (EDWOSB), determine if your business is eligible. Your business must have one or more women who claim at least 51% ownership.

The SBA has a number of FAQs, forms and support documents to help you complete the process.

As of October 2020, self-certification is no longer available. If you previously self-certified, you must recertify through an approved third-party certifier once your federal contracts are finished.

History of business financing for women

Women couldn’t apply for a business loan on their own until relatively recently. It wasn’t until 1988, with the passage of the Women’s Business Ownership Act, that women entrepreneurs gained legally protected access to business resources, financing and contracts.

The federal law eliminated state laws that required women to have a male relative or husband cosign business loans, established the Women’s Business Center to offer entrepreneurial support to women and required the US census to include women-owned corporations when collecting data.

As of 2024, Women-owned businesses constitute nearly 40% of all US enterprises.

Looking for more guidance?

Learn more about business financing and the best business loan options with our comprehensive business loan guide.

Frequently asked questions

Sources

Holly Jennings's headshot
To make sure you get accurate and helpful information, this guide has been edited by Holly Jennings as part of our fact-checking process.
Lacey Stark's headshot
Written by

Writer
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Lacey Stark is a freelance personal finance writer for Finder, specializing in banking, loans, investing, estate planning, and more. She has 20 years of experience writing and editing for magazines, newspapers, and online publications. A word nerd from childhood, Lacey officially got her start reporting on live sporting events and moved on to cover topics such as construction, technology, and travel before finding her niche in personal finance. Originally from New England, she received her bachelor’s degree from the University of Denver and completed a postgraduate journalism program at Metropolitan State University also in Denver. She currently lives in Chicagoland with her dog Chunk and likes to read and play golf. See full bio

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