When a woman starts a business of her own, she may have to face many challenges. The act of balancing family and employment commitments is challenging. Appropriate financing options for small businesses, whether it is in the form of loans or grants, especially for a woman who is willing to start a business, are many. However, the monetary help that she gets is generally from credit cards and loans from family members or friends. When you are looking for a small loan or grant, you may have to pay hundreds of dollars to somebody to get it for you. Online resources can help you to gain access to information on how to qualify for a grant, and tips on how to start or expand your business. These sites are looking for women entrepreneurs who wish to apply for a small loan or grant. They actually encourage women to take up ventures and help them become entrepreneurs. How to Go about Securing the Loan If you are a woman and also fall under a minority community, there are lots of dollars waiting as grants or small loans for you. All you have to be sure that you are prepared to apply for a small business loan. You stand a better chance of getting a business loan, if you are aware of the competition and have a business plan. You will, then, be able to find grants and small business loans with a number of community organizations and financial institutions. It is better to carefully research and then decide on the kind of business you want to start. For example, find out how many women in your locality (or in the country) are engaged in starting similar business. You must also gather information about the ventures that are already operating, the percentage of their success, etc. The statistical data will help you in choosing the right kind of business. After you have decided on what type of the business you want to start, you will then have to write a proposal letter to the organization that you hope will sanction the small loan or grant you have applied for. Proposal Letter A proposal letter bears your proposal for a small loan or grant and is submitted to the application committee of the organization that will help finance your business. Here are a few points that you need to consider, when writing your proposal letter:

• When you are writing the proposal letter, make sure that you let your lenders (whether private or government) know about your business plan.
• Stress on the fact that you can take decisions independently, and are capable of exercising good judgment when it comes to running your business.
• Let your potential lenders know that you are prepared to make business-savvy decisions when it comes to your company, and that you will be asking for help when needed.
• The lenders should also know that you have the experience and skills to hire well-qualified employees.
• Emphasize that you will advertise effectively to sell your company's products or services.
• You need to highlight the fact that you will be building your own small business website, and writing press releases.
• You must also be able to convince them that you will strive to be an effective player in the market, and make your company a profitable venture.

These points need to be mentioned in your proposal, so that the lenders can be assured that the money they have lent will be paid back on time. You should not get discouraged, as acquiring a small loan or grant for women entrepreneurs can be time-consuming. But once you find the financial help, you will be on your way to starting your business. You can rest assured that you will be able to accomplish the things that you plan for your venture, if you wisely utilize the loan or grant you receive.