In today’s day and age, women have provided adequate proof that they are as good as men in every field and business is no exception; thus small business loans for women entrepreneurs are on the rise. In the past few decades, businesses owned by women have flourished dramatically and thus, small business loans for women have been designed keeping their interests in mind. Whether a lady wants to start a little bed and breakfast or something as large as a cellphone company, she can get loans for it!Women Are The New Go Getters!What is so special about women owned businesses? Their sense of business is quite starkly different from that of a man’s. They like to think beyond the rules imposed by the methods in which traditional businesses are run and this kind of thinking – breaking away from tradition – has brought them rich dividends for sure. This is probably because women are much more open to the idea of different possibilities and opportunities.There are many loan facilities for women business owners, but one of the most popular ones is the one from the Small Business Administration. The SBA does not directly give loans to women entrepreneurs. What they do is more specialized – they guarantee the loan amount that is taken by a woman entrepreneur. This makes the entire process of obtaining a loan much less stressful for a woman. Having a guarantor is like having a guardian angel!The application process for small business loans for women is no different from the conventional application process of a loan. There is guaranteed approval from the SBA, which is a boon, but of course, the business is thoroughly evaluated as per its potential and its ability to grow. The business proposal is subjected to much the same amount of scrutiny that a business proposal presented by a man would be subjected to.A Common MisconceptionA lot of times people tend to be misguided into thinking that loan rates for women are on the lower side; this may not necessarily be the case. In fact, it is quite the contrary; the interest rates are at par, or sometimes, even over the typical rates offered by financial institutions and banks. Of course, there is also a guarantee fee of about 3.875% on the dollar value of the portion of the loan which is guaranteed by the SBA.The advantage of small business loans for women is that they give you a longer amortization rate than the commercial loans offered by banks and other corporations. For example, working capital loans can be financed for a period of up to seven whole years, real estate construction of a building can be financed for up to twenty five years and fixed asset loans for a period of a decade!Before applying for a small business loan for women, women have to do their homework thoroughly just like any male entrepreneur, eg. If your credit scores aren’t up to the mark, then work on them, have a solid business plan and find out the motivations of your lender and you’re good to go.