Women business owners are an integral part of the U.S. economy and the continuation of our prospering society.
Here’s why we are grateful.
A survey by the National Association of Women Business Owners (NAWBO) shows that over 11.6 million firms in the United States are owned by women. These privately held firms employ nearly 9 million people, contributing to 8% of employment and 4.2% of revenues. That’s a staggering $1.7 trillion in sales across the US!
We’ve had the honor of working with many businesswomen who’ve rolled up their sleeves and pushed through irrespective of how challenging recent economic times have proven to be.
We understand your journey—the inspiring commitment to long hours, family and social life sacrifices, and demonstrated grit and perseverance to starting your businesses and making them thrive.
And that’s why we’re here.
Who We Are And What We Do
Business Finance Capital (BFC) is a Certified Development Company (CDC)—a non-profit corporation that promotes economic development within its community. We proudly serve the Greater Los Angeles business community, especially women entrepreneurs, through initiatives such as helping with business training needs, counseling resources, and obtaining SBA 504 loans. We are dedicated to helping women entrepreneurs, aspiring and established, be more successful.
SBA and Loans
The Small Business Administration (SBA) is a US-owned federal agency fully committed to encouraging and helping women small business owners navigate through the challenging world of business and entrepreneurship.
To start, maintain, and grow a company requires hard work and capital. This is true for all businesses, no matter their niche. According to an HSBC survey, acquiring business loans and raising capital is a tough process for all small businesses, especially women-owned. The survey suggests that 46% of female entrepreneurs experience some form of bias when raising funds, and they secure 8% less capital than their male counterparts. This challenge leads many businesswomen to utilize their savings and turn to their friends and family for assistance.
To establish an even break and promote small businesses, SBA has introduced several programs and resources (counseling and capital). Entrepreneurs can use SBAs competitive rates for loans for long-term, fixed-rate financing to purchase or repair real estate, equipment, machinery, and other assets.
Here’s everything you need to know about SBA’s different programs and resources.
|Office of Women’s Business Ownership (OWBO)|
|The Office of Women’s Business Ownership helps entrepreneurs through programs coordinated by SBA’s district offices. They will help through Women’s Business Centers (WBCs) centers that provide training, counseling, federal contracts, or access to credit and capital.|
Businesses that receive assistance from WBCs overcome unique obstacles in the business world, thus enjoying a significantly better success rate than those lacking a similar support structure.
You can easily contact a dedicated team at Business Finance Capital if you are not near a WBC. We’ll be thrilled to help with your needs, be it finances or training so that you can do what you do best—mold and nurture our world.
|SBA 8(a) Business Development Program|