The small business community in the United States has seen an increase in female-owned small businesses over the years. According to a Women’s Small Business Ownership and Entrepreneurship report by the U.S. Senate Committee on Small Business & Entrepreneurship, nearly 13 million of the 33.2 million small businesses in the U.S. are owned by women.
The report includes that “women in particular have been the driving force behind America’s economic rebound from the COVID-19 pandemic, creating about half of new businesses for the third year in a row.”
With so many female-owned small businesses starting up, there becomes a higher demand for things like small business loans, which cover upfront costs and help businesses expand and grow. This step might seem complicated and overwhelming, but with some preparation, securing a loan is an achievable task.
Sarah Sheldon, Business Banking and Relationship Manager at Atlantic Union Bank, offers that “there are four key components all business o...