Women Business Loans

The numbers of women owned businesses are climbing each day. It is important for female entrepreneurs to have access to the capital they need to compete in the highly competitive business market. This capital comes in the form of equity financing.

Many lenders have set aside loans specifically targeted for female entrepreneurs. These loans consist of regular commercial lending, loans from the Small Business Administration, and Equity investments.

Women business owners should make sure that their business credit is separate from their personal credit before attempting to obtain financing. Lenders will base your businesses credit worthiness on your business credit scores, so it is important to get lines of credit or loans from lenders that report your scores to the Small Business Financial Exchange.

Women are on the rise and will continue to be needed on an increasing basis in the coming years. Loans for women are more popular than ever before. Women have an even wider selection of entities willing to loan them business capital.

Women Finances and Retirement Savings

Of the 60 million salaried women working in the United States as of March 2007, just 47 percent participated in a retirement plan. Women are more likely to work in part-time jobs and don’t qualify for a retirement plan. Women often interrupt their careers to take care of family members thus, having fewer years to contribute toward their retirement.

Start Now………Save Now

If your employer offers a retirement plan, join it as soon as you can and contribute as much as the plan allows. By saving early you have time on your side. Your savings will grow and your earnings will compound over time.

Work long enough at your job to earn retirement benefits. In most companies, you have to work for five years to become eligible to be vested or receive retirement benefits. Women often quit or transfer to other jobs and interrupt their work lives just short of this time.

Make copies of the summary plan description (SPD) and any amendments for places you work. This is a document that outlines your retirement plan and benefits. If you have worked over five years and then leave to work elsewhere, you need to be aware of the benefits you are eligible for from each job.

As women work, they pay Social Security taxes, and earn credit toward a monthly income at retirement. Also these earnings mean some income for you in the form of monthly benefits if you become disabled and can no longer work.

If your spouse retires (and you are married), you should both enjoy those days and income benefits. In the case of death, the surviving spouse is automatically entitled to receive the benefits, unless noted otherwise in writing.

Now you are on the road to learning more about financial freedom and the retirement rules. As a resource for women, the Employee Benefits Security Administration has issued, “Savings Fitness: A Guide to Your Money and Your Financial Future” and “Taking the Mystery Out of Retirement Planning.”

The booklets include resources and Web site sections and can be obtained at any U.S. Labor Department.