5 Best Small Business Loans For Women of 2026

Women own 39.1% of all U.S. businesses, according to the 2024 Wells Fargo Impact of Women-Owned Businesses report, representing a 13.6% increase from 2019 to 2023. Still, female business owners face greater obstacles in borrowing funds.

Aside from rising interest rates and lenders tightening requirements, a 2023 Federal Reserve study revealed that in 2022 a lower percentage of women were approved for small business loans than men. So it’s important to compare lenders and their offerings to find the loan most likely to suit your needs.

Below, CNBC Select rounds up the best loans for women-owned businesses. Our top picks suit a variety of situations and needs including microloans, long-term loans and loans for low credit scores. (See our methodology for more information about how we chose the best small business loans for women.)

Who’s this for? Kiva is worth considering if you don’t need to borrow a large amount of money. It is a non-profit crowdfunding platform that offers microloans of up to $15,000 with a mission of unlocking capital for underserved communities.

Standout benefits: Kiva stands out for charging 0% interest and no fees. It also doesn’t have traditional business and credit score requirements.

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Who’s this for? OnDeck loans have a minimum 625 FICO credit score requirement, making it a more accessible option for applicants with lower credit scores.

Standout benefits: OnDeck has a quick application process and can provide same-day funding for term loans up to $100,000, depending on your state.

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Who’s this for? Funding Circle can be appealing to borrowers who may need more time to pay off their balances. It offers offers repayment terms that range from three months to 7 years. A longer repayment term typically means you’ll make smaller monthly payments, but you may end up paying in interest over the life of the loan.

Standout benefits: Borrowers can receive funding in as little as 48 hours and will not be charged prepayment penalties for paying off their loan early.

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Who’s this for? Fora Financial is ideal for female business owners who need to borrow higher amounts of money. It offers loans as high as $1.5 million, which is considerably more than what’s offered by many competitors.

Standout benefits: Fora Financial allows borrowers to apply for additional funding paying off at least 60% of the original loan amount. Not only does it not charge prepayment penalties, but it offers prepayment discounts.

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Who’s this for? Accion Opportunity Fund stands out for offering borrowers the opportunity to receive coaching and access to other business tools and educational resources.

Standout benefits: This lender offers customizable loan terms and considers a variety of factors beyond just your credit score to determine eligibility, giving applicants with lower scores a chance to get funding.

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Kiva is a non-profit peer-based lending platform that has helped fund over $1.6 billion in loans so far. It offers loans of up to $15,000 with 0% interest. After you apply for a loan, you’ll have up to 15 days to invite friends and family to lend to you and after that, you’ll have up to 30 days to make your campaign public to Kiva’s network of lenders.

Loan amounts

Up to $15,000

Eligibility requirements

You must be over 18 years old and using the loan for business purposes. You and your business must be based in the United States. Your business must not be engaged in multi-level marketing or direct sales, illegal activities or financial investing. You also can’t be in foreclosure, bankruptcy or under any liens. Finally, you’ll need to invite a small number of your friends and family to make a loan to you to prove your creditworthiness.

Loan terms

Up to 3 years

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OnDeck has disbursed over $15 billion to U.S. businesses and boasts an impressive A+ rating from the Better Business Bureau (BBB). Eligible businesses must have at least $100,000 in annual revenue to be considered for a loan.

Loan amounts

$5,000 to $250,000

Eligibility requirements

Must be in business for at least one year, have $100,000 annual revenue and have a business bank account

Loan terms

Up to 18 months

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Funding Circle is a global lending platform with an A+ BB B rating. It offers a range of types of small business loans, including, term loans, lines of credit and SBA (7) loans. This lender does require that businesses be in operation for at least two years to be considered for a loan.

Loan amounts

$5,000 to $500,000

Eligibility requirements

Must be in business for at least two years and have no bankruptcies within the last seven years

Loan terms

3 months to 7 years

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Fora Financial boasts an A+ BBB rating, a simple application process and quick funding. While it offers high loan amounts, it’s longest loan term is just 15 months. Loans from Fora Financial can be used to buy equipment, renovate the workplace, purchase inventory and more.

Loan amounts

$5,000 to $1.5 million

Loan terms

Up to 15 months

Eligibility requirements

Must be in business for at least six months, have monthly revenue of at least $15,000 and have no open bankruptcies

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Accion Opportunity Fund is a non-profit lender that seeks to fund business owners of all identities. According to its website, Accion Opportunity Fund’s client base is over 90% women, people of color, and/or low-to-moderate income.

Loan amounts

$5,000 – $250,000

Eligibility requirements

Must be at least 18 years old and in business for at least 12 months; your business must generate at least $50,000 a year in sales; must own at least 20% of the business

Loan terms

Customizable

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Securing funding as a female entrepreneur is not always an easy feat. In addition to various grants and resources like Women’s Business Centers, there are numerous lenders geared toward underserved groups, such as women-owned businesses. When searching for the right lender, it’s important to consider factors like credit score requirements, funding amounts, loan terms, fees and other features like educational resources.

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every business loan review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of business loan products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best small business loans for women.

To determine which small business loans for women offer the best terms, CNBC Select analyzed over a dozen U.S. loans. We compared each small business loan on a range of features, including:

• Minimum and maximum loan amounts
• Length of term
• Credit score needed
• Application requirements
• Streamlined application process
• Fund disbursement
• Customer support
• Better Business Bureau rating, when available
• Customer reviews, when available

The rates and fee structures for small business loans are subject to change without notice, and they often fluctuate in accordance with the prime rate. Your APR, monthly payment and loan amount depend on your credit history and creditworthiness.

To take out a small business loan, lenders will conduct a hard credit inquiry and request a full application, which could require both personal and business proof of income, identity verification, proof of address and more. You’ll likely also need to put up collateral, which can include business equipment, real estate or personal assets.

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