Women own more than 40% of all businesses in the U.S., according to the U.S. Census, yet it’s well documented that female founders receive significantly less funding than their male counterparts. The credit gap is upwards of $1 trillion and it’s estimated that prioritizing women’s financial needs could help add $10 trillion to the world economy by 2030.
Resources for women entrepreneurs can feel difficult or even impossible to find, but we have a strategy. We’re calling it the three ‘C’s’ of closing the credit gap: Community, coaching and capital.
1. Community: Building the Network Every Woman Entrepreneur Needs
Your network is your lifeline in many ways. Networking can help you build clientele. It can help you be more informed about your business industry and business strategies. Reach out to friends and family members, current and former co-workers, and other entrepreneurs to begin building that network.
Everyone starts somewhere and sometimes your best resource is your phone and your keyboard. Send messages and make calls to people and see what kind of support you can drum up.
2. Coaching: Advisors, Courses, and Strategic Support for Women Entrepreneurs
Coaching isn’t just about networking or building your customer base. It’s about having advisors, mentors and assistance for your business. This could look like courses on business strategies or workshops on building your audience. It could look like getting legal assistance or recruiting a board member. Those same resources to help build your network can also help coach you toward success.
In addition, there are many organizations that can directly help elevate you and your business:
- Women’s Business Development Center: Provides one-on-one and group business advising as well as financial education and help with certifications.
- National Association of Women Business Owners: Dues-based. Great for making connections and building strategic alliances.
- Minority Business Development Agency: This is a government agency focused on assisting BIPOC (Black, Indigenous and People of Color) business owners through funding support and educational resources.
There are also business development programs which can help assist, such as the 8(a) Business Development Program through the U.S. Small Business Administration.
3. Capital: Grants, Loans, and Funding Options for Women-Owned Businesses
This is the big one. Dollar signs are what directly impacts that credit gap. Here is our breakdown of the types of funding and loans available to women entrepreneurs.
Grants
There are many grants available for women-owned businesses. Ladies Who Launch has a grants database which includes a few grants for women-owned businesses. You can also search grants.gov for any federal government grants as well as review the SBA grant offerings.
Business Loans
There are many different types of business loans. Term loans, lines of credit and private loans can all be used to help support your business.
U.S. Small Business Administration loans, particularly SBA 7(a) loans, can provide flexibility for businesses. SBA loans offer both short- and long-term financing and generally lower interest rates than conventional loans.
Whatever your funding decision, choosing the right lender can make or break your loan process.
How Zions Bank Can Help
Zions Bank is an SBA-preferred lender, and the number one SBA lender in Utah and Idaho. Zions Bank also champions women-owned business with at least 30% of SBA 7(a) loans in Utah and 25% in Idaho awarded to businesses owned by women and people of color in 2025.
We understand how important business banking relationships are. We can consult with you directly about what loan is right for your business. Visit your local Zions Bank branch and speak with a banker who can discuss your business goals and financing options.
