Women Entrepreneurs and Small Business Loans – Infographic

  • November 13th, 2014
  • Erik Larson

Women are making a huge impact on the small business environment.

Here at Lendio, we’re passionate about providing small business owners with the opportunity to get the financing they need to build their business. We’ve supplied business loans for thousands of small businesses, and a large percentage of those are owned by women. We’ve collected some interesting data on the relationship between small business lenders and women entrepreneurs.Lendio-Women-Entrepreneurs-Small-Business-Loans

 

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Women are making a strong impact on the business environment. Currently 29% of businesses are owned by women and that number is increasing with a projected 1,288 businesses started by women every day. See what Lendio found out about the women entrepreneur movement from new business starts in January to September of 2014.

Top 10 industries for women starting a business:

1. Retail Stores
2. Restaurants & Food Services
3. Arts, Entertainment & Recreation
4. Wholesale Trade
5. Healthcare & Social Assistance
6. Personal Care Services
7. Business Services
8. Construction
9. Real Estate
10. Educational Services

Top 10 industries dominated by women entrepreneurs

1. Veterinarian Services
2. Wholesale Trade
3. Personal Care Services
4. Healthcare & Social Assistance
5. Educational Services
6. Non-Profit Organizations
7. Retail Stores
8. Administrative & Support
9. Religious Institutions
10. Legal Services

41% of new small businesses searching for loans are owned by women.

Women business owners are 11% more likely than men to search for alternative lending in the first 12 months in business.

Top 10 states per capita for women-owned businesses with less than a year of operations

1. Mississippi
2. Georgia
3. Louisiana
4. Alabama
5. Nevada
6. South Carolina
7. Florida
8. Arkansas
9. North Carolina
10. Montana

Credit Rating – The overall credit worthiness of women applying for small business loans

7% Excellent
5% Great
11% Good
23% Okay
42% Not so good
11% bad

About the Author

  • Erik Larson

Erik Larson frequently writes for Lendio about SEO, Digital Marketing, Social Media Marketing, Business Loans, and whatever else strikes his fancy. He can be found on and Twitter.

Comments

  1. My credit is bad I just discharge my chapter 13.I will to started a my own business.I live in Davenport Fl and can use more information on how I can build my credit up or get help to start my business up.

    • Hey Lynette,

      There’s a lot of great information out there for improving credit, here’s an article we wrote about that: //www.lendio.com/blog/want-improve-credit-score/.

      Thanks!

      Erik

  2. Needing a $30, 000.00 business loan for me to open a flower shop at my home. Please help. My credit score is not all that good, have been current on all my bills since May 2014.

    • Hey Wanda,

      You can sign up for a free Lendio profile above and we’ll see if we can match you with a lender that could help!

      Erik

  3. Hi Im trying to run a cleaning business in nj and I’m currently I. Need of a professional site for the business . how can I apply for a Loan to what I need to run a successful business.. Thanx

    • Hey Tamyra,

      You can fill out a free profile on Lendio.com, and we’ll see what kind of loan we can match you with! Thanks!

      Erik

  4. Needing a loan for 10,000 to start a daycare center ….