Located in New York City, Trevor Cole Commercial Corp. is a structured finance company with a broad base of commercial clients across the U.S. and Canada. Trevor Cole Commercial Corp. issues a variety of loans to businesses, including a growing array of
women-owned businesses. Women-owned businesses are now applying for more credit than ever before, according to current research by Biz2Credit. This firm surveyed 30,000 companies nationwide, across 20 different industries and found that loan applications by women-owned businesses increased 13 percent in 2018 over the previous year and, that the average amount borrowed was $48,341. The dominant reason women borrowed money was for business expansion. Almost one-fifth of women-owned businesses that sought funding in 2018 were in service-related industries. The next sector that saw plenty of borrower activity was retail with 18.2 percent, while accommodation and food were third with 14.3 percent. California had the highest percentage of women applying for business loans (13 percent), followed by Texas (11 percent), and New York and Georgia (6 percent each). Despite the increase in the number of women-owned businesses accessing credit, women still received on average 31 percent less funding than men running their own businesses. The average male-owned business loan amount for 2018 was $70,239. This shows that there is still more to be done to close the lending-gender equality gap.
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AuthorTrevor Cole Commercial Corporation of New York City specializes in procuring funding for large real estate projects, including multifamily properties and office buildings across the nation. Archives
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