Funding is a top challenge for female entrepreneurs

Latest "She’s Next" event in NYC focuses on lending, credit and more for women in business

March 06, 2019, 10:49 AM Eastern Time

Nearly three-quarters of women starting businesses report difficulty in obtaining financing and more than 60 percent say they are self-funded[1]. Based on these learnings, She’s Next, Empowered by Visa and the Female Founder Collective will bring together hundreds of female entrepreneurs in New York City today for resources and discussion around financing, loan products and more.

Visa’s Mary Ann Reilly (SVP, North America marketing), JPMorgan Chase’s Sheryl Cameron (SBA Solutions, executive director) and Hilda Kong (SBA Solutions, manager, Northeast division) will facilitate conversations on lending, securing lines of credit vs. term loans, SBA loans, non-traditional financing and JPMorgan Chase’s seven best practices to use to help secure a business loan:

  1. Establish a banking relationship
  2. Detail your plans for using funding
  3. Improve your credit profile
  4. Pay down existing debt
  5. Evaluate potential lenders
  6. Get your numbers in shape
  7. Assemble key documents

Despite financial challenges, the global rate of female entrepreneurship is growing at a rapid clip. More than 163 million women started businesses around the world since 2014—a group  roughly the size of the combined entire populations of Russia and Chile. She’s Next, Empowered by Visa supports and champions these female entrepreneurs with education, digital payment technology and connections to peers, mentors and resources.

About She's Next, Empowered by Visa

Female entrepreneurs join business leaders at She’s Next events to help solve business challenges like lending and funding financial tools, legal questions, social strategies, recruiting and services like public relations. The initiative’s January kickoff event in Atlanta featured a focus on digital marketing and an open discussion about the challenges faced by area entrepreneurs. Watch this video for highlights.

 

 

 1. According to a Visa-commissioned study