Business Loans For Women

Women all over the world have long faced challenges in the world of business. Past inequalities continue to affect many businesswomen nowadays.

Starting businesses comes with a range of challenges and factors to consider. Some woman entrepreneurs face numerous difficulties in the business sector. Among these challenges is sexism as well as a lack of funding opportunities.

The South African government has introduced a number or systems designed to encourage business growth for women. Private entities have also stepped up to provide assistance for women starting their own businesses. An increasing number of organisations is committing to transformation of the business sector. This includes the creation of more opportunities for businesswomen to gain empowerment in order to run successful businesses. A number of entities offer business loans specifically designed to assist women running their own businesses, or looking to start their own businesses.

Here are a few examples of Business Loans for women:

Isivande Women’s Fund

This is an exclusive women’s fund established by the Department of Trade and Industry (DTI) to accelerate women’s economic empowerment through affordable, usable and responsible finance.

Absa Women Empowerment Fund

Eligible individuals are businesswomen whose loan applications have been turned down because they did not have enough security. The loan is made available to South African women citizens who own a small to medium-sized enterprise (SME). As the major shareholder (more than 66%) you need to be fully involved in the day-to-day operations. Loans are offered from R50 000 up to a maximum of R3 million.

Identity Development Fund

This organisation offers business loans to women-owned business. Loan amounts range from R250 000 to a maximum of R3 million. Repayment of the loan is expected within 5 years. For more information about this fund, simply visit www.idf.co.za