Women entrepreneur small business loan approvals are 15 to 20% lower than for their male counterparts say Biz2Credit’s Rohit Arora.
After analyzing 14,000 Biz2Credit online loan applications he concluded women-owned businesses:
• Submitted 29% of the loan apps
• Show 15% lower annual revenues
• Have 21% higher operating expenses
• Have lower credit scores by 40 points
“Women tended to be more involved in retail operations, which generally have higher operating expenses and smaller margins. This may also account for their lower credit scores,” said Rohit Arora, CEO of Biz2Credit.