Is the Gender Gap in Business Lending Closing?

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D S Simon Media

Sep 26, 2019, 15:30 ET

NEW YORK (PRWEB) September 26, 2019 -- Women entrepreneurs are making waves in the small business world, but the fact of the matter is, women small business owners aren’t always on equal ground compared to their male counterparts. This is especially true when it comes to available options for business financing.

A video accompanying this announcement is available at: https://youtu.be/7Dm9UTrOcuA

Women entrepreneurs still face obstacles when starting or running a small business that their male counterparts typically don’t experience. Previous studies have found that women small business owners receive, on average, 31% less in funding compared to male entrepreneurs, which makes other aspects of their business, such as hiring or office rent, more difficult to manage.

According to a new report by Fundera, progress is being made, but there’s still work to be done.

Women entrepreneurs today have made strides to close the gender funding gap. In particular, the new data shows that in the second quarter of 2019, both men and women were able to secure the same amount in funding from lenders, with women receiving a slightly lower interest rate than their male counterpart. There are still areas that call for improvement, such as access to funding, but progress is being made.

Jared Hecht, co-founder and CEO of Fundera, conducted a nationwide media tour to discuss the state of small business lending today. Along with reviewing how the gender funding gap is closing, Jared shares how any entrepreneur can best prepare themselves to access capital from lenders on terms that will help, not hinder, their bottom line.

During the TV and radio interviews Hecht discussed:

  • How the gender gap in funding amounts and cost is closing
  • Why women still have less access to funding and report lower financials
  • The research that shows that women and men use funding for different purposes

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