SBA Micro Loans For Women | Program Funding Consultants Tips You Can Use

SBA Micro loans for women are available from over 100 resources nationwide.
The SBA Microloan Program was started in 1991 and was originally set up to empower women and minorities to get start up loans and technical assistance
to further insure their success. Today all genders and nationalities are applying and receiving these loans in as little as 30 days. Since women and minorities
were the original target market for these loans this provides women and minorities, especially minority women, a slight advantage in the application process.
Anyone can apply for an SBA Microloan, you simply need to have an idea, the intent to make a profit and a commitment to both.

It is quite simple to get a list of intermediaries and simply start making phone calls to find out their submission process and basic requirements but this can
be a tedious task and often leads to confusion because of frequent changes in the program and intermediary status. One of the primary requirements by many
intermediary's is that the applicants participate in online or onsite classes to training as a requirement to get approved or a requirement after approval.
It's also prudent to note that just because an intermediary is in a specific geographical area close to where an applicant resides that intermediary may not be the
best source of funding for that specific applicants project. This is one of the reasons that a consultant experienced in intermediary review and requirements is
the best option for most people pursuing an SBA Microloan. Most all intermediaries will require a business plan or at the very minimum an Executive Summary of the business
this is another stumbling block for most applicants. Each Intermediary has a general format they look for when screening applicants, if the business plan you
present does not contain info they want to see or perhaps elaborates more on areas that may seem to them as risky you will ruin your chances of getting funding.

No matter what your gender make sure you do your homework to identify exactly what an intermediary may be looking for and if possible try and get an example of
the types of businesses they normally fund and the approximate funding amount BEFORE you apply. Aside from some of the pitfalls of attempting to get an SBA Micro Loan
on your own it is still the easiest way to get money I am aware of. Many of the things that are negatives and would prevent you from getting conventional funding
can actually be a positive or work to your advantage when attempting to secure an SBA Micro loan. Here are three key tips to remember.

1) Your credit is NOT the deciding factor on whether or not you qualify for a Small Business Administration Micro Loan. Don't let your credit stop you
from applying.

2) The SBA Microloan program has the lowest default rate of any type of loan in the banking industry. This is because they provide technical assistance
to help your business thrive in areas that are crucial to its survival but that you may not be versed in. Having little more knowledge than in your area
of expertise will NOT be a handicap to you.

3) As a Senior Consultant for Program Funding Consultants we help hundreds acquire SBA Micro Loans who need more money than the program
provides. The maximum at present is $35,000. A number of our clients need more than $35,000 and we have helped them get more funds through other
SBA Programs, after they proved they could service the initial loan. Keep in mind that once you have a track record of paying for your Microloan
a good consultant can help you get up to 2 Million Dollars from other SBA Programs in less than 12 months as we have done for a number of our
clients.