Business loans easier to come by for women

Fri, 06 Nov 2009

Women entrepreneurs are more likely to get a business loan in the wake of the economic crisis, it has been claimed.

According to Tatjana Hine, president of the British Association of Women, women have found it harder than men to gain access to business finance in the past.

However, she believes the credit crunch and ensuing recession have actually helped to tilt the balance more favourably towards women.

"I do feel that after this crisis now, banks are actually looking at women's businesses differently, because they find that we tend not to be as large and not to have as much debt," Ms Hine commented.

"On the whole I think banks have over the last few months become more friendly towards women entrepreneurs. It would be nice if they could continue to be so."

Yesterday (November 5th), the Department for Business, Innovation and Skills announced plans to appoint a Women's Enterprise Champion in each of the regions as part of a strategy to encourage women to start their own businesses .
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