How we support women in business
Idea Financial is a direct commercial finance provider set up to empower women and
minority business owners just like you. We help women in business by providing their companies with the financial agility to compete, no matter what industry they are in.
We want to help women make their business ideas a reality by providing an affordable means of improving cash flow while minimizing risk. That is why we offer low APR loans for female-led businesses.
If you have more questions about how Idea Financial can help your business grow, please contact one of our business advisors. We are always happy to answer your questions.
How to apply for your loan?
Our business loans for women are easy to apply for. Start by clicking the apply now button in the upper right-hand corner of the screen. Then fill out our short online application.
Section one is all about your business. We just need some basic company information to help us put together your loan offers.
Section two focuses on you. We need information on the business owner to understand whom we are lending to. These are all simple questions and should only take a few minutes.
The last section is the financial review. We collect some information about the finances of the borrower as well as the business. With this information, we can quickly decide your eligibility and calculate what loans we may offer.
Section one is all about your business. We just need some basic company information to help us put together your loan offers.
Section two focuses on you. We need information on the business owner to understand whom we are lending to. These are all simple questions and should only take a few minutes.
The last section is the financial review. We collect some information about the finances of the borrower as well as the business. With this information, we can quickly decide your eligibility and calculate what loans we may offer.
We have 4 basic criteria that dictate who we can lend to. Anyone who meets these may be eligible for one of our loans.
Your business must have been in operation for at least 2 years. We have this requirement because it shows the business is stable and able to turn a profit. It also means the business has some financial history which helps us better understand any risks.
The business must earn no less than $15,000 a month in revenue. Meeting this threshold shows Idea Financial that you have a steady revenue stream and that you are capable of paying back a business loan.
You can not be a sole proprietorship or non-profit. Idea Financial does not offer loans to these business types for a variety of reasons.
Your personal credit score must be 650 or higher. Having a good credit score shows us that you and your business are a good investment. It also helps us offer better interest rates to our customers.
Idea Financial understands that companies need access to flexible capital fast. Long waits for a business loan can mean the difference between life and death for small businesses.
Our initial application takes just a few minutes and can be done online. When our experts receive your paperwork, we can usually make an approval decision and get you your money quickly.
This means you will have the liquid assets available to respond to whatever your business needs quickly.
Most of our loans to female-led businesses go toward expanding operations, opening new locations, buying needed supplies, or purchasing inventory. However, our loans can be used for almost anything related to your business.
A loan can be particularly helpful if you are looking to buy more products to get a discount on the price, upgrade or replace expensive equipment, or put the down payment on a new facility.
If you have more questions about what you can and can not use your loan, our business advisors are always happy to help. They will answer your questions and help you understand how to make your loan work for you.
