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October 23, 2017

Women say it's harder to get business loans

  • Many women will turn to personal savings, friends and family, credit cards and other alternatives to fund their businesses.
    • By JOYCE M. ROSENBERG
    AP Business Writer

    NEW YORK — Getting a bank loan is still a struggle for many women who own businesses.

    Kirsten Curry has had three rejections in the past six months and is waiting to hear from a fourth bank. Curry, owner of Seattle-based Leading Retirement Solutions, has applied to national banks, a regional bank and a credit union. The problem is that her 8-year-old retirement advisory firm lost money last year as it invested in technology to help it expand. Although revenue has consistently risen and her company has no debt, her expenses last year were a red flag.


     
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