Women entrepreneurs in today’s business world

I design all-natural cosmetics for all women and launched my company in late ’06. Within 2 weeks of launching, Jane Magazine expressed interest & contacted us, and an online men’s magazine did a write-up about our men’s products.

Well, Jane went under before featuring our prods & we can’t afford to pay anybody to use our cosmetics in fashion editorials, which would give us maximum exposure & cost 70% less than outright advertising. The Co. also needs to hire a professional manager w/ industry experience to manage the Co.

I’m a black woman with $3,000 worth of debt over her head. The 3 grand comes from delinquent college loans in collections. What are my chances of getting any capital for my business at this point?

I am not only a woman but a black woman & the company sells from it’s online site for the moment.
My credit isn’t very good because 2 college loans have gone to collects. I owe a little over $3,000. Do I have a chance?

THANK YOU!
VAL, that was a really sweet comment. Talk about starting at the top. Oprah?:) But actually, the business it’self is not in debt. “I” am the one in debt…or do they count it as the same thing?

4 Responses to “Small Woman-Owned Business Needs Advice?”

  • funracingdad says:

    Check with the Small Business Administration. There may be funding for you as either a minority or female business owner. They can also give you advice on what you may be doing wrong and how to maximize what you are doing right.

  • jpetals says:

    Have you looked a different methods for applying for online promotions? You could do a variety of stuff. There is one site called sponsoredreviews and you can pay people to blog about your product. You would accept or deny bids and choose only blogs you feel would give you proper exposure. The link for that site is on my blog (in my profile).

    Alternatively, if you have some time, you may want to come up with your own capital by using different online sites. I have made over $1500 online and that could all be put towards your debt.

    I will include a youtube video of someone introducing the program to someone. As well, I will include a link to my webpage about it. I hope this will be helpful to you. If not, I apologize for wasting your time. I wish you luck and hope your product takes off…. it sounds like it was your passion to create it.

  • KathrynCK says:

    Organizations that might be able to help you:
    SCORE (it is an org run by the SBA–they’ll connect you with an expert for free). Also, look for angel investor groups that specialize in women-owned businesses. In Boston, there is one called Golden Seeds. But if you do a search on “angel investors” + “women”, I am sure you will find others. Best of luck!!!!

  • Val says:

    Hi Lana,

    The SBA will take forever and they will not loan money to businesses in debt but you can check with your bank to check the qualifications.

    My other advice would be to contact several of the black magazines such as Ebony and Essence. Try and get to the editors office and explain your situation. One other way but you would really have to use the old nogin is try to get through to Oprah’s people somehow she is known for supporting all types of black enterprise. I would start with her magazine and in the front there will be a list of the staff, start at the top and keep calling down the list until you get a sympathetic ear to listen to what you are looking for. With some determination it can be done.

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