How to Access Capital As A Micro-Biz Owner
“If we can see the impact and believe in women entrepreneurs… then I think we’re going to rewrite history in a way that’s very powerful.”
- Shelagh Cummins
As you embark on your growth journey and work toward your biggest and boldest goals, being able to access the capital you need in order to invest in your business is crucial! From making a key hire to purchasing machinery to upleveling your advertising, your continued growth requires strategic investment — and getting that cash into your your hands can often feel almost impossible.
While women make up 47% of all entrepreneurs, we only receive 16% of all business loans. Why is it still so challenging for women business owners to access capital? Women often own smaller businesses, which can face insurmountable hurdles when seeking loans from banks. When you go in to meet with a Loans Officer, there is a good chance that they are not looking at your business through a lens that allows them to truly see the value, the impact, and the profit that is possible.
In this episode, I explore the pros and cons and do’s and don’ts of a range of funding options, including banks, credit cards, retirement savings, family, and microlending.
In this episode of the Road to Seven podcast, you’ll discover:
The bias that exists against smaller businesses, including micro-businesses, and how it can affect you
My personal story of seeking a business loan from two different banks — and what you may expect
The Road to Seven Capital Access Program and what you need to know before applying!
Highlights:
00:01 Intro
03:13 The current capital situation
04:54 Bias against micro-businesses
06:22 Seeking bank loans
09:19 Leveraging savings & retirement plans
10:06 Friends & family
10:55 Credit cards
13:06 Microlending & Capital Access Program
17:16 Mentor program
19:46 Women’s profits
23:10 Join the Lives!
Links:
Capital Access Program
https://www.theroadtoseven.com/capital-access-program
https://www.theroadtoseven.com/investors
To work with me and make your next power move, visit:
https://www.theroadtoseven.com
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