Incentives For Women Obtaining Business Loans

Making working capital, business loan financing, and other funding available to women is even more important in today’s growing small business industries. More women are becoming business owners, and the result is a growing need for small business loans from banks and other financial institutions. Due to the number of growing enterprises, the offer of incentives by lenders is becoming more prevalent.

Competition for the best rates, along with easy application processes make it attractive for women in business to obtain the loans they need in their business venture. Women business loans may consist of commercial lending programs from banks and institutions, community development organization financing or private funding.

Women entrepreneurs and business owners can gain access to business capital and work with local community partners of their lending institution as soon as their application is complete. Obtaining a loan from a commercial bank offers options to extend services to personal bank accounts: checking, savings, and credit card accounts can all be managed in one place and provide extra benefits for both parties.

Some community development organizations offer business coaches or mentors as an incentive to obtain funding through them. This can be a very valuable resource for women to work with, network, and socialize with area committees and members. Being listed in a business funding directory, community newsletters, websites, and other promotional campaigns becomes much easier. Gaining marketing and advertising exposure naturally through these networks can be an added incentive for women who choose to work with different lenders and programs. Finding the right match through a variety of funding sources is part of the task of obtaining the small business loan. Some corporations and private investors may offer additional perks and incentives as part of the offer extended to women looking for a business loan.

For women who are creating a small business from home, a lender may offer options to refinance the house in addition to increasing the line of equity. This can help considerably on a personal level, as the startup capital can be increased from a boost in savings from the house proceeds. Other valuable incentives may include additional credit card packages, extended lines of credit (credit worthiness is increased significantly over time, and if women continue to make payments on time, this can help them boost their credit scores for maximum potential.), and reduced rates on premium products throughout the year.

Other business loan incentives can include ongoing referrals and bonuses, exclusive access to discounted rates, a rate decrease, easy transfer of a loan, merchant accounts, invoice factoring, key contacts to purchase supplies and inventory, and a stronger chance of obtaining future financing from the same lending institution. Each financial institution or lender will outline or make an offer of the incentives program offered with each program. Women especially have a strong chance of making use of these incentives since they can improve their status as a business owner considerably in a short period of time.

Financial Incentives for Your Business to Use Solar Power

When it comes to running a business, much of the necessary focus is on the bottom line. Many businesses, however, fail to realize they can seriously cut energy costs by going solar.

Tax Incentives

Federal and State governments know the best way to initiate change is to provide an economic benefit. When it comes to energy, governments try to make the use of solar energy as economically attractive as possible to businesses. This is done through granting tax incentives in the form of tax credits and deductions. Depending upon which government agency is involved, federal or a particular state, corporations can get tax credits and deductions ranging from 10 to as high as 35 percent of the cost of purchasing and installing solar energy systems.

Net Metering

On top of the tax incentives given to businesses for going solar, a majority of states now offer incredible cost savings through net metering. Net metering refers to state laws that require utilities to purchase power generated from solar systems used by businesses at the same price the utilities would otherwise charge the business. If the business is producing energy in excess of what it is using, the energy is sent into the utility grid and the building power meter actually runs backwards. Since many businesses are closed two days a week, this effectively means the utility is buying the power on said days. Net metering is an incredibly effective means of slashing utility costs.

Solar Loans

Businesses can gain further benefits through going solar by taking advantage of government solar financing programs. These loan programs offer incredible terms in an effort to promote the use of renewable energy and make sense for both new construction and renovations. Typically created as state programs, these “solar loans” offer financing for the purchase and installation of the equipment. The loans typically have seven to 10 year terms, and are offered as no interest or extremely low interest financing. Combined with the economic benefits of net metering, such loans make the decision to go solar a slam dunk.

Each state tends to handle the promotion of alternative energy in different ways and with different benefits. When combined with federal programs, businesses can reap a financial benefit from using solar energy sources.