Small business loans need no introduction! They are designed to help young entrepreneurs all across the world, and New Jersey is no exception. More and more young women entrepreneurs choose New Jersey because of it’s accessible location and excellent infrastructure and environment that help businesses grow seamlessly and thrive. According to a report, you may be surprised to know that 99.6% of New Jersey businesses are small businesses. According to a report published by SBA there are 861,373 small businesses and 1.8 million workers at these companies, and 49.8% of New Jersey workers are employed at small businesses. These statistics are staggering and exhibit a substantial determination of young entrepreneurs and their ambitions that support both employment and the overall economy.
Programs for small business owners in New Jersey
Hence, the picture is clear that women’s in small businesses are the real lifeline in the state’s economy. But if these women business owners do not have funds, how will they operate and grow to the next level? Here are few detail processes for women starting businesses in New Jersey with available options for growing operations of their small business or get financing strong
Micro Lending Programs for Women Business Owners
Today there are a significant number of micro lending programs available for women in small business in New Jersey. Women business owners can get loans through the state and private companies and banks as per their needs and preferences. As we have already said that there are various loan programs, let us discuss them in detail –
● You might have heard about the New Jersey District Office of the SBA. It is the regional headquarters of the Small Business Administration and helps women business owners. It provides long-term loans with reasonable interest rates. Indeed, it is a practical option for small businesses women owners
● Another one is LAEDA WBC, they have several loans and programs to assist women running small businesses. Women entrepreneurs get assistance starting from “how to start a business” to jump start programs, access capital to business networking events and more, all in one place
Education for Women Business Owners in New Jersey
Good News!! Now women business owners in New Jersey can turn their dreams into reality. There are several viable and aligned resources available for them to grow and thrive effortlessly. These resources are valuable and assist women in curbing specific business challenges.
● The EDA Small Business Fund – It is a select loan for women-owned businesses that have been in business for at least one year. It helps women to get up to $500,000 at a generous interest rate. It is a practical resource for women entrepreneurs in NJ.
● If you are wondering about small business loans for women in NJ, then think again. The LAEDA WBC is New Jersey premier advocate for women entrepreneurs and has various programs that provide practical insights to women entrepreneurs.
LAEDA WBC offers complete support and assistance to women business owners in NJ. The Office of Small Business Advocacy is a division of the New Jersey Business Action Center, which provides several small business services. Right from mentoring and advocacy services to proper guidance, one can expect all. Their small business financing services are distinctive and supportive.
With a business line of credit, women entrepreneurs can access a specific amount of money to start a business. This means they only have to pay interest, which is quite beneficial for them. Such assistance is reasonable when it comes to any emergency. Hence, we can conclude that LAEDA WBC is the best option in NJ for women entrepreneurs.
About LAEDA WBC
Women’s Business Center by the Latin American Economic Development Association, Inc. (LAEDA) is one of the most reliable and recognized WBC in New Jersey. LAEDA WBC opens doors for all women entrepreneurs in New Jersey seeking support or education in micro lending programs, consultation on starting a new business, business training and more. For more feel free to contact us here.