Women Empowerment Loans to Improve their Status

Women Empowerment Loans to Improve their Status
Women Empowerment Loans to Improve their Status
June 1, 2016

The world is gradually drifting and so are norms changing very fast in our societies. In the past, women are viewed as weaklings and in various parts of the world, their opinion on any subject matter rarely counted. The same cannot be said of today.

In our modern society, women have suddenly begun to own businesses and take up jobs that were once seen as a man thing. When it comes to entrepreneurship, they often face steeper challenges getting funds to help them run their business.

Read also: Merits and Demerits of Purchase Money and Non-purchase Money Loans in Short Sales

Every unemployed woman should own a business

For the employed women, it is a different case because they already have a source of livelihood (though it doesn’t exclude them from owning a business too). However, the unemployed should take the issue of owning a business more seriously for a number of reasons;

1. To prevent men from taking undue advantage of you

Women who have no source of income usually fall prey to men who often use them for their selfish purposes and in the end pay them an amount that is not tantamount to their services – if they get paid at all.

2. To become independent

There is a saying that he who feeds you controls your life. If as a lady you cannot stand independently, then you are willing power over your life to the person who feeds you and this is not a cool way to live.

Read also: A Cash Business Loan might Just be Perfect for a Working Capital

3. If need be, take care of your family

Imagine your beloved husband or the guy that takes care of you should lose his life, does that mean you should die with him too? Obviously not. In the event of such unforeseen occurrence, you should be able to take care of yourself and children if you have any.

How women can access funds for their business

Currently, there are government programs that give women access to soft loans to start small businesses. Such loans often take less hassle to get approvals. There are also some non-governmental agencies (NGOs) that consider the affairs of women of utmost importance and often go great lengths to help them financially.

Commercial banks often prove invaluable, offering help and guide to women who need access to loan facilities. However, there are often no preferential treatment given to them as regards to their gender and they will need to follow all the routine laid down for accessing loans.

Read also: What You Never Knew about the Small Business Administration Loans

Role of commercial banks in encouraging women to borrow

In trying to get women to borrow, commercial banks often have fair interest rate for them. Their loans are often expedited, that is processed at a faster rate and also made as flexible as possible. The only concern of the woman would often be to put the fund togood use.

Therefore, women should stop being scared of starting a business or springing up reasons as to why they are incapable of starting one. The major problem with starting a business is often that of funding and the points above explains it all.

Read also: Looking for Ways to Finance Your Company: Try Asset Based Lending

Article highlights

  • In the past women were considered as weaklings.
  • Women are currently taking up jobs which in the past were restricted to men.
  • Employed women can also startup businesses.
  • Staying without a source of income makes women vulnerable.
  • Any man that feeds you controls your life.
  • Staying independent helps a woman to have self-respect.
  • Having a source of income will help a lady take care of the family when the man is not there.
  • There are government programs that give soft loans to women.
  • NGOs also try to alleviate some of the problems women face in businesses.
  • Commercial banks gives women loans at fair interest.

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