If you’re a woman looking to start a business, working with a mentor could help you achieve your goals.
The number of women-owned businesses increased by 21% between 2014 and 2019, while the number of total businesses only increased by 9%, according to the State of Women-Owned Businesses Report by American Express. We’ve put together a list of some of the leading entrepreneur mentor programs for women to help you get started.
6 entrepreneur mentor programs for women
Mentors for female entrepreneurs can help you take your business idea to the next level. Some leading entrepreneur mentor programs include:
1. 37 Angels
2. Astia
3. National Association of Women Business Owners
4. Office of Women’s Business Ownership
5. The Women’s Venture Fund
6. Women Who Startup
1. 37 Angels
37 Angels is an organization led and run by women investors. As angel investors, they focus on providing startups with the funds they need to grow and expand. Business owners can receive up to $150,000 for things like product development, inventory or process improvement.
However, 37 Angels isn’t just about money. What sets the organization apart from other seed investors is that it also connects startups with seasoned mentors. When 37 Angels accepts your company and invests money into it, the investors will ask where you need help.
Once you’ve identified where you need expert assistance, 37 Angels turns to its network of investors to help you with issues like making business contacts or expanding your head count. Mentors come from many different fields, including marketing and finance, so you can get the advice you need from people who work in your industry.
2. Astia
Astia is a nonprofit organization in Silicon Valley that’s dedicated to identifying and promoting female entrepreneurs.
Through the Astia entrepreneur mentor program, business owners get access to expert advisors and peers to share ideas. They also get feedback from experts to perfect their business plan and maximize their chances of success. Entrepreneurs can even get the funding they need to build their businesses.
3. National Association of Women Business Owners
The National Association of Women Business Owners (NAWBO) is a robust network of over 10 million women-owned businesses. Members have access to events, seminars, leadership development courses and business classes.
The organization also offers discounts to partner companies, such as UPS and Southwest. These discounts help reduce your costs so you can produce more revenue and expand your business.
NAWBO is a due-based organization with varying fees depending on your membership level.
4. Office of Women’s Business Ownership
If you’re ready to make your dream a reality, the Small Business Administration’s Office of Women’s Business Ownership (OWBO) can help. OWBO has women’s business centers across the country, along with district offices and local partners.
At these centers, women entrepreneurs can get access to credit lines and receive training in finance, business and marketing.
The Small Business Administration also has loan programs for business owners. According to OWBO, startup owners who work with the business centers have a higher survival rate than other small businesses.
5. The Women’s Venture Fund
The Women’s Venture Fund is a nonprofit organization that helps women build successful businesses in urban communities. Offering mentors for female entrepreneurs and small business loans, the Women’s Venture Fund accelerates the growth of startups.
Unlike some organizations that offer online courses, the Women’s Venture Fund offers one-on-one sessions with an advisor. You can meet with the advisor to discuss roadblocks, create a business plan, develop a customer relations plan or review your business’s finances.
It also offers in-person training seminars that cover topics such as how to apply for a business loan and how to get free publicity for your company.
If you need a loan to help your business expand, the Women’s Venture Fund also offers flexible loans. However, it’s only lending in New York City, Long Island and certain areas of New Jersey right now.
6. Women Who Startup
Women Who Startup is a global network of female entrepreneurs. It connects you with professionals to collaborate about ideas and projects to build your company. It also offers workshops and training programs.
The Women Who Startup podcast celebrates women in technology and female entrepreneurs. It profiles successful businesswomen and offers advice on managing and growing your business.
Make the most of mentors for female entrepreneurs
As a business owner, asking for help can be intimidating. But the above entrepreneur mentor programs offer a safe learning environment for women leaders to get training and a network of other professionals. If you’re ready to become an entrepreneur and join the ranks of thousands of women business owners nationwide, here are grants that can help you get started.
Rebecca Safier contributed to this report.
Interested in a personal loan?
Here are the top personal loan lenders of 2022!Lender | APR Range | Loan Amount | |
---|---|---|---|
![]() | 5.74% – 20.28%1 | $5,000 - $100,000 | |
![]() | 4.37% – 35.99% | $1,000 - $50,000 | |
![]() | 5.94% – 35.97%* | $1,000 - $50,000 | |
![]() | 99.00% – 199.00%2 | $500 - $4,000 | |
![]() | 5.99% – 24.99%3 | $5,000 - $40,000 | |
![]() | 7.99% – 20.88%4 | $5,000 - $50,000 | |
![]() | 9.99% – 35.99%5 | $2,000 - $36,500 | |
![]() | 10.68% – 35.89%6 | $1,000 - $40,000 | |
![]() | 9.95% – 35.99%7 | $2,000 - $35,000 | |
1 Includes AutoPay discount. Important Disclosures for SoFi. SoFi DisclosuresFixed rates from 5.74% APR to 20.28% APR APR reflect the 0.25% autopay discount and a 0.25% direct deposit discount. SoFi rate ranges are current as of 1/18/22 and are subject to change without notice. Not all rates and amounts available in all states. See Personal Loan eligibility details. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. See APR examples and terms. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. 2 Includes AutoPay discount. Important Disclosures for Opploans. Opploans DisclosuresDirect Deposit required for payroll. Opploans currently operates in these states: . *Approval may take longer if additional verification documents are requested. Not all loan requests are approved. Approval and loan terms vary based on credit determination and state law. Applications processed and approved before 7:30 p.m. ET Monday-Friday are typically funded the next business day.
3 Includes AutoPay discount. Important Disclosures for Payoff. Payoff Disclosures
4 Important Disclosures for Citizens Bank. Citizens Bank Disclosures
5 Important Disclosures for LendingPoint. LendingPoint Disclosures
6 Important Disclosures for LendingClub. LendingClub DisclosuresAll loans made by WebBank, Member FDIC. Your actual rate depends upon credit score, loan amount, loan term, and credit usage and history. The APR ranges from 10.68% to 35.89%. For example, you could receive a loan of $6,000 with an interest rate of 9.56% and a 5.00% origination fee of $300 for an APR of 13.11%. In this example, you will receive $5,700 and will make 36 monthly payments of $192.37. The total amount repayable will be $6,925.32. Your APR will be determined based on your credit at time of application. The origination fee ranges from 2% to 6% (average is 4.86% as of 7/1/2019 – 9/30/2019). In Georgia, the minimum loan amount is $3,025. In Massachusetts, the minimum loan amount is $6,001 if your APR is greater than 12%. There is no down payment and there is never a prepayment penalty. Closing of your loan is contingent upon your agreement of all the required agreements and disclosures on the www.lendingclub.com website. All loans via LendingClub have a minimum repayment term of 36 months or longer. 7 Important Disclosures for Avant. Avant Disclosures*If approved, the actual loan terms that a customer qualifies for may vary based on credit determination, state law, and other factors. Minimum loan amounts vary by state. **Example: A $5,700 loan with an administration fee of 4.75% and an amount financed of $5,429.25, repayable in 36 monthly installments, would have an APR of 29.95% and monthly payments of $230.33. Based on the responses from 7,302 customers in a survey of 140,258 newly funded customers, conducted from August 1, 2018 – August 1, 2019, 95.11% of customers stated that they were either extremely satisfied or satisfied with Avant. 4/5 Customers would recommend us. Avant branded credit products are issued by WebBank, member FDIC. * Important Disclosures for Upgrade Bank. Upgrade Bank DisclosuresPersonal loans made through Upgrade feature APRs of 5.94%-35.97%. All personal loans have a 2.9% to 8% origination fee, which is deducted from the loan proceeds. Lowest rates require Autopay and paying off a portion of existing debt directly. For example, if you receive a $10,000 loan with a 36-month term and a 17.98% APR (which includes a 14.32% yearly interest rate and a 5% one-time origination fee), you would receive $9,500 in your account and would have a required monthly payment of $343.33. Over the life of the loan, your payments would total $12,359.97. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. Accept your loan offer and your funds will be sent to your bank or designated account within one (1) business day of clearing necessary verifications. Availability of the funds is dependent on how quickly your bank processes the transaction. From the time of approval, funds should be available within four (4) business days. Funds sent directly to pay off your creditors may take up to 2 weeks to clear, depending on the creditor. Personal loans issued by Upgrade’s lending partners. Information on Upgrade’s lending partners can be found at https://www.upgrade.com/lending-partners/. |