Woman Owned Business

I was recently asked to write about the best sources of financing for a woman owned manufacturer.

1) Below I’ve included an earlier post on the myths about grants for small businesses. Manufacturing is one of the few instances that I know of where there may be money available for grants. Try researching grants that are for teaching manufacturing processes and techniques.

2) For debt financing the first thing to consider is investing in the land. This is your most important business decision so make it wisely.

3) Start with a traditional business lender. Why? Better rates and terms, and you must be turned down by a business lender to qualify for SBA loans.

You need to write a business plan so start before you meet with the lender. There are a million different places to find a business plan outline, or you can email me and I will direct you further.

One of the first things I learned from my brief time working for the federal Small Business Administration (SBA) is that the SBA does not provide grants to small business owners. The SBA does provide education, advice, and loans (including real estate) to small businesses. Additionally, there are federal grants for the organizations that support business such as the Small Business Development Centers and Women’s Business Centers.

If money were free to business . . . . everyone would be in business!

Alternatively, if you want to learn how to run a successful business or how to find sources of capital there are many programs to help the small business owner. Call or go to your local Small Business Development Center and/or Women’s Business Center. The helpful professionals who work there will give you the tools and advice you need to create a healthy business.

Go to the SBA website for more: http://www.sba.gov/