NEW YORK, NY (April 2, 2018) - The gender gap in business lending is growing, according to the State of Women-Owned Small Business Finance Study.
“Last year the average funded business loan for women-owned firms was $57,097, down from more than $99,000 in 2016,” CNBC reports. “In comparison, the average size of a business loan for male entrepreneurs was stable, at $103,604.”
This trend is worrisome for the growth of women-owned businesses, which have historically been underserved by lenders.
Only 4% of small business loans go to women business owners, the Senate Committee on Small Business and Entrepreneurship determined in 2014. As America’s first and only socially responsible business financing platform, SourceFunding.org is committed to leveling the playing field for all business owners, including those who have historically been denied access to capital. Our mission: Financial inclusion. Create a free Funding Profile to access the complete network of all 14,000 community banks, credit unions and CDFIs in the United States and start matching with the best financing for your business.