We collect cookies to analyze our website traffic and performance; we never collect any personal data. Cookie Policy
Accept
The Tycoon Herald
  • Trending
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Money
    • Crypto / NFT
  • Innovation
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion
    • Leadership
  • Health
  • Sports
  • Entertainment
Reading: Lack Of Capital For Women-Owned Businesses
Sign In
The Tycoon HeraldThe Tycoon Herald
Font ResizerAa
Search
  • Trending
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Money
    • Crypto / NFT
  • Innovation
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion
    • Leadership
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© Tycoon Herald. All Rights Reserved.
The Tycoon Herald > Business > Lack Of Capital For Women-Owned Businesses
Business

Lack Of Capital For Women-Owned Businesses

Tycoon Herald
By Tycoon Herald 6 Min Read
Share
SHARE

Starting a business was never the challenge for me. However, needing the resources to grow it was a different story. Books, trainings, and professionals tell you to offer a service or product that most people need. Look for ways to solve problems and learn how to brand, I did.

Colombia-born LuzElena Rivers made the bold decision to self-fund her own company, AMERA Solutions.

Rivers

I solved the problem of people needing reliable transportation after a medical procedure where share rides are not an option and having a certified nurse that can sign you out and drive you home was the key for reducing risk to ambulatory surgical centers. That’s exactly what my company Amera Solutions offers, however, the struggles and pains it would take to grow and expand was an entirely different story.

I launched a service in the space of medical transportation for day surgery procedures in 2013, three years after establishing my business. I was eager to apply for capital funding for growth and technology to support my expansion. I needed funding, however the large bank I was using for years turned me away twice due to no-collateral. During my Goldman Sachs 10,000 Small business program in 2016, my mentors suggested I apply to smaller banks. To my surprise, after learning my credit score was only 680, these banks also turned me away. My experience taught me that traditional bank institutions have a certain appetite for lending and if I didn’t have a credit score of 720 or more, a standalone building, industrial equipment, repair shop or a strong and firm handshake I wasn’t worthy of their money. Soon I realized the inequality that women faced when seeking funding to grow and expand their business was my reality and disadvantage.

According to the Women’s Business Enterprise National Council (WBENC), women own 4 out of every 10 businesses in the United States, totaling 12.3 million. These businesses employ 9.2 million people and generate $1.8 trillion in revenue, but the gap between men and women in approved lending is still very real.

As of 2018, there are 12.3 million women-owned businesses in the United States. Compare that to 1972, when there were only 402,000 women-owned businesses.

  • Women own 4 out of every 10 businesses in the United States.
  • Since 2007, the number of women-owned businesses has increased by 58 percent, which is better than businesses overall, which increased by only 12 percent.
  • Last year, 1,821 net new women-owned businesses were launched every day. Women of color founded 64 percent of those new businesses.

MORE FOR YOU

(Research taken from here).

My commitment to myself, my family, and the belief that my service was needed by many kept me going without the assistance from bank institutions. I applied for a third-party lender in 2018 who approved me at a 30% interest with a $8500 upfront payment from the original approval loan. Most people would’ve walked away but I took it and used the money to market and set aside funds for web and app development which I would soon need.

In 2020 the world faced a pandemic that would temporarily shutdown businesses, and there I was once again overcoming the struggles associated with being a female business owner facing rejection from bank institutions during a pandemic. I quickly signed up to every online meeting from the SBA to national leaders waiting to see what would happen next for business owners like myself. The PPP brought relief but not without another hurdle, my bank of many years once again placed me in the back of the line while aiding to their preferred clients, leaving me worried on what to do next. During this time, I applied to Stanford LBAN program and asked for every resource available to help my business. The program offered me a route to apply for the PPP through PayPal and I received a response in less than 48 hours with an approval.

To my surprise the pandemic brought opportunities for small businesses from the government, and I jumped at every chance to apply for assistance. I had a better chance of getting funded due to a global pandemic rather than walking into a bank institution with a business plan asking for capital investment. I used those funds to keep and hire more employees and position my company by offering my services for COVID needs and it worked!

I grew my business 970%, paid back the third-party lender and expanded my business nationwide.

The year is now 2022 and my business is thriving with opportunity, shortly after that I’m being recognized by Forbes Next 1000, and named a top 13 Latina National Corporate Executives by Latina Style Magazine.

My conclusion, never give up or stop believing that your hard work will never payoff or that you will not be recognized for your resilience and confidence in yourself. Still today, women owned businesses continue to grow at rapid numbers, there’s never been a better time to act to change the inequality we still face today.

You Might Also Like

Joseph Safina’s Driven Becomes Amazon Bestseller, Blending High Finance with High Speeds

Fashion Designer Hyeonseo Irene Park: Redefining Menswear Through Originality and Collaboration

From Pattaya to the World: Bryan Flowers’ Unstoppable Rise as a Global Entrepreneur

Astana International Forum 2025: “Connecting Minds, Shaping the Future”

Investment success: GP Fatih Marketing Research Co LLC and the gold dream in Africa

TAGGED:BusinessThe Forbes Journal
Share This Article
Facebook Twitter Email Copy Link Print
Why ‘Trying Hard’ Is Cool Once more | FashionBeans
Fashion

Why ‘Trying Hard’ Is Cool Once more | FashionBeans

We independently consider all beneficial services. Any services or products put ahead seem in no specific order. in case you click on on hyperlinks we offer, we might obtain compensation.…

By Tycoon Herald 5 Min Read
How this long-lost Chinese language typewriter from the Nineteen Forties modified trendy computing
July 7, 2025
Why Malaysia needs to be your subsequent luxurious golf trip
July 7, 2025
8 Advantages of Information Switch Specs in Medical Information Administration – AI Time Journal – Synthetic Intelligence, Automation, Work and Business
July 7, 2025
PGA Tour: Brian Campbell snatches John Deere Basic victory in play-off after thrilling remaining spherical
July 7, 2025

You Might Also Like

Gaza residents stream dwelling to the north after hostage breakthrough By Reuters
Business

Gaza residents stream dwelling to the north after hostage breakthrough By Reuters

By Tycoon Herald 6 Min Read
Greenback positive factors on tariffs fears; euro seems to be to ECB assembly By Investing.com
Business

Greenback positive factors on tariffs fears; euro seems to be to ECB assembly By Investing.com

By Tycoon Herald 5 Min Read
EQT Real Estate acquires 12-building logistics assemblage positioned in key Northern Italian submarkets By Investing.com
Business

EQT Real Estate acquires 12-building logistics assemblage positioned in key Northern Italian submarkets By Investing.com

By Tycoon Herald 4 Min Read

More Popular from Tycoon Herald

MEET THE FATHER OF COADUNATE ECONOMIC MODEL
BusinessTrending

MEET THE FATHER OF COADUNATE ECONOMIC MODEL

By Tycoon Herald 2 Min Read
Woman Sentenced to 7 Days in Jail for Walking in Yellowstone’s Thermal Area

Woman Sentenced to 7 Days in Jail for Walking in Yellowstone’s Thermal Area

By Tycoon Herald
Empowering Fintech Innovation: Swiss Options Partners with Stripe to Transform Digital Payments
InnovationTrending

Empowering Fintech Innovation: Swiss Options Partners with Stripe to Transform Digital Payments

By Tycoon Herald 7 Min Read
Entertainment

Jennifer Lopez Reveals How She Broke Ben Affleck Divorce Information to Her Children

Jennifer Lopez How I Broke Ben Affleck Divorce Information To My Children!!! Printed Could 7, 2025…

By Tycoon Herald
World

Phrase of the Week: Crimea’s tumultuous historical past shrouds the origin of its very title

The camp of the British Foot Guards at Balaklava in the course of the Crimean Warfare,…

By Tycoon Herald
Trending

U.S. Blew Up a C.I.A. Post Used to Evacuate At-Risk Afghans

A controlled detonation by American forces that was heard throughout Kabul has destroyed Eagle Base, the…

By Tycoon Herald
Leadership

Northern Lights: 17 Best Places To See Them In 2021

Who doesn’t dream of seeing the northern lights? According to a new survey conducted by Hilton, 59% of Americans…

By Tycoon Herald
Real Estate

Exploring Bigfork, Montana: A Little Town On A Big Pond

Bigfork, Montana, offers picturesque paradise in the northern wilderness. National Parks Realty With the melting of…

By Tycoon Herald
Leadership

Leaders Need To Know Character Could Be Vital For Corporate Culture

Disney's unique culture encourages young employees to turn up for work with smiles on their faces.…

By Tycoon Herald
The Tycoon Herald

Tycoon Herald: Your instant connection to breaking stories and live updates. Stay informed with our real-time coverage across politics, tech, entertainment, and more. Your reliable source for 24/7 news.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact Us

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Terms of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices
© Tycoon Herald. All Rights Reserved.
Welcome Back!

Sign in to your account

Lost your password?