This is the age of women empowerment as mass movements all across the globe erupted to create awareness about the situation of women in our society. There were a lot of incidents that led to mass protests and awareness walks. As the world slowly wakes up to this cause we see a huge change in society. Women are taking inspiration and taking up lead-roles in many industries all over the world. A very prominent group of women has also come to the forefront who are being a true inspiration for the masses- women entrepreneurs. It does take a lot of courage and know-how to set up your own business. It is never easy whether you’re a man or a woman. Entrepreneurs find themselves in tricky situations all the time and if they do not tackle such a situation with caution they will fall into bankruptcy which might end their career. Thankfully online payday loans have been providing just the exact type of support these inspiring women required. Let’s have a look at some reasons which have made online payday loans undeniably the best for women entrepreneurs.
The quickest solution for “I need money asap”
Women entrepreneurs are still facing challenges even though society claims to be progressing. They face hurdles because of their gender in their private life and work. Some people have concluded that wonne entrepreneurs are given lesser attention during business deals and that is why they require solutions much faster than their male counterparts. This is a sad fact but it is undoubtedly true. So these entrepreneurs mostly depend on online payday loans as they give the fastest service. Once they visit Friendlylender.ca, when need money asap they will see how they can get the money in just 24 hours of filling the application. The application itself is quite short and to the point. The other types of loans like bank loans sometimes take weeks and can not be trusted especially when time is of the essence. On top of that women would face even more harassment when they would have to make multiple trips to banks and fill up those huge piles of documents for one simple loan.
No compulsory credit checks
A simple survey concluded that most women entrepreneurs have a bad credit history which prevents them from getting a loan. Since most banks and companies do not approve a loan of an applicant who has a low credit score, the rejection rate is very high and thus things are always dicey. This margin of doubt is seldom seen when a person applies for an online payday loan. The difference is that unlike banks, these payday loans are acquired by private lenders who are not bound by any protocol to check the applicant’s credit score. Thus the acceptance rate is much better and hence these loans can be trusted. It can be a huge inconvenience for women entrepreneurs to not be able to get a loan for their operations, especially in a time of emergency. Thus they also blindly trust online payday loans.
The control over the borrowed money
Just like every businessman, women entrepreneurs also deal with new problems and situations almost every day. The problem is that when one generally takes a loan, the money is sent straight to the place you enlisted for the loan. That means you’ll have to take a new loan for every new challenge that you are faced with. It would be much easier if people were simply given the amount to spend it in the best way according to them. This is exactly what online payday loans do and that is why they are famous among women entrepreneurs. They simply give the money to the applicant and only expect to be paid back on time. The money is totally at the applicant’s disposal.
A system of trust
Women need support and understanding now, more than ever. If women entrepreneurs want to rise they also need to select the =ir financial aid options carefully. Most loans will mostly include a mortgage which is taken away by the banks or companies on late or failed repayments. This is a very old way of doing business. In this new age, it is important to build businesses on trust. That is why online payday loans simply exclude mortgages from their process. The companies do not ask for any asset to be given as security and on late repayments, only a simple fine is levied. Taking away someone’s assets only puts the person under more pressure and if the person in question is a woman then it can be disastrous for her keeping in mind the already existing pressures of society.
All sizes of loans are available
Business Women don’t always need huge amounts of money to run businesses. Sometimes a small amount can make all the difference between success and failure. Sadly most loaning agencies do not provide loans of small amounts, such as $250, simply because the profit margin is not good enough for them. It is only payday loans that help people in such a situation. These loans can go as low as $100 as they realize the importance of taking only as much as it truly requires. Besides, taking more money than you need never makes sense as the interest rate will make you pay extra for the money that you never needed in the first place.
Women have been subject to partiality since time immemorial. They have seen prejudices for a long time and women entrepreneurs are leading the fight against such malpractices. There is a good reason why these entrepreneurs mostly go straight for online payday loans. Here the interest rates of all the people are similar. A credit score is never taken as a bar to distinguish the rich from the poor. Banks and traditional companies on the other hand do not play a fair game. They give a lower interest rate to people who have a good credit score while the ones with not such a good score get a heavier rate of interest.
Women entrepreneurs are now running some of the most successful firms and brands of multiple nations. They are slowly getting a place in the society that they always deserved. Knowing the correct kind of financial help can always help women to be self-sufficient and self-reliant.
*This is a Sponsored Post – the author has requested this post be shared on WE magazine for Women and WE were compensated for sharing.