At a glance
- Loan options
- SBA, term, line of credit, equipment and revenue-based financing
- How NexGen evaluates
- Same criteria for every business: revenue, history, credit
- Public resources
- SBA Women’s Business Centers, WOSB contracting program
- NexGen amounts
- $10,000 to $20,000,000 across programs
- Approval speed
- Typically 1 to 24 hours for many programs
- Credit
- 650+ on most programs; 500+ for revenue-based financing; 700+ for SBA loans
Women own businesses in every industry, from salons and e-commerce brands to construction firms, medical practices and manufacturing companies. Whether you’re opening a first location, stocking inventory or hiring your next team, the right financing depends on your business, not a label. This guide explains your options, what lenders look for and the free resources worth using.
At NexGen Lending, we evaluate every business on the same criteria and help owners compare 10 financing and advisory solutions with one application.
What loans are available to women-owned businesses?
| Financing type | Best for |
|---|---|
| SBA loan | Lower rates and long terms; microloans up to $50,000 for smaller needs |
| Term loans & unitranche debt | Expansion, new locations, hiring |
| Business line of credit | Inventory, payroll and seasonal cash flow |
| Equipment financing | Vehicles, machinery, salon and medical equipment |
What resources help women business owners?
- SBA Women’s Business Centers: Counseling, training and help preparing to borrow.
- WOSB federal contracting program: Helps eligible women-owned small businesses compete for certain federal contracts; certification is required.
- Small Business Development Centers: Free one-on-one advising.
- CDFIs: Community lenders that often work with newer businesses.
What do lenders look for?
- Time in business, often 12 months or more
- Monthly revenue and consistent deposits
- Personal and business credit
- Existing debt
- A specific plan for the funds
How do I qualify for a business loan?
- Separate finances with a dedicated business account.
- Keep clean books. NexGen’s accounting and bookkeeping support can help.
- Build credit. NexGen's business credit guidance can help you understand your credit profile and build toward approval.
- Use free advising. A Women’s Business Center or SBDC can review your plan.
- Prepare documents such as bank statements, tax returns and ID.
- Compare offers. See how we compare lender offers.
Can a new women-owned business get a loan?
Buying an established company is another route to an operating history. Our guide to financing a business purchase covers the options.
How fast can I get funded?
Frequently asked questions
Are there loans only for women-owned businesses?
Some nonprofit and public programs focus on women owners. NexGen evaluates every business on the same criteria and helps you compare every option available to you.
Are there grants for women-owned businesses?
Some exist, but they’re competitive. Search Grants.gov and local programs, and never pay a fee to receive a grant.
Do I need WOSB certification to get a loan?
No. WOSB certification is for federal contracting, not lending.
Can I finance salon or med spa equipment?
Yes. See our guide to salon and barbershop loans.
What if my credit isn’t perfect?
With a 500 to 649 credit score, revenue-based financing is the main option, since it leans on sales more than credit. Most other NexGen programs, including equipment financing and lines of credit, require 650+, and SBA loans require 700+. Below 500, NexGen's business credit guidance can help you understand your credit profile and build toward approval.
This article is for general informational purposes only and is not financial, legal, or tax advice. NexGen evaluates all applicants on the same criteria. Public program details change; check SBA.gov for current availability. Loan terms, rates, and eligibility vary by lender and program and are subject to approval. Availability varies by state.