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Sunday, November 13, 2016

How One Woman Entrepreneur Secured Funding After Getting Declined for a Bank Loan

how_one_woman_got_funding_after_banks_declined_her
Mary Apple, Founder, Pretty Pushers
Women are launching new businesses at the rate of 1,072 new women-owned businesses per day. They total 11.3 million in the U.S. They are adding $3 trillion to the U.S. economy and creating 23 million jobs. Yet it is still so difficult for women entrepreneurs to obtain funding. Here is what one woman entrepreneur did after she was refused financing by traditional banks.

Pretty Pushers

Mary Apple started her company, Pretty Pushers, in 2008. The company makes stylish hospital gowns designed for women in labor that allow for not only comfort but also for fetal monitors, IVs and epidural equipment. She saw a need for this when she gave birth to her own child in 2006. The company grew and produced very positive revenue numbers. In spite of this, she could not get a bank loan.

Apple's company was solid, and she knew how to be a successful entrepreneur. Her father owned his own business and taught her everything about how to run a successful business of her own. She wanted to take her company to the next level by creating a division that would sell hospital gowns directly to hospitals. But all she experienced was frustration with local banks who had all kinds of reasons why they couldn't give her a loan.

Apple turned to an alternative lender, Kabbage, who gave her a line of credit within one week. Kabbage is an alternative lender that focuses on lending to small business owners through lines of credit. Because of Kabbage, Apple was able to continue her product testing and move forward with the creation of her hospital division.

Read more at www.forbes.com/sites/brockblake/2016/10/31/how-this-woman-entrepreneur-secured-funding-after-getting-declined-from-a-bank/#218f9ea97794
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