NEW YORK, NY (January 29, 2018) - Women-owned businesses are expanding rapidly in the United States. In 2017, 11.6 million women-owned businesses employed 9 million people and generated $1.7 trillion, according to the American Express State of Women-Owned Business Report. Revenue among women-owned companies has grown 104% in the past decade and generates more than $1 million each year.
The number of female entrepreneurs applying for loans rose to 29% in 2016, according to Rohit Arora at Forbes.
“Borrowers who previously refrained from borrowing money for expansion or capital improvements re-entered the credit markets. Because the economy has been relatively strong and because interest rates are still quite low, women entrepreneurs have shown a willingness to take on more risk by borrowing money to grow their businesses.”
Arora provides a detailed description of the most popular sources of business financing for women business owners in the US.
