Accessing a business loan was one of the toughest decisions I made when I first started out my entrepreneurship journey. I didn’t want to go in debt early, but I also believed that we can pay it back, and be able to generate more revenue as a result of accessing it. We did thankfully, with a lot of hard work. And now I understand a bit more about how capital moves, and the impact it can have on your business growth.
When it comes to investments in Women Founder-led businesses, we often think of VC investments, and while that is one of the traditional routes, there are other alternatives for women founders to access capital to grow their business, especially for founders at the early-stage.
We hosted an Alternatives to Investments panel this week, as part of the Women Founders IRP program. We were joined by a smart group of panelists who brought diverse perspectives on capital and financial readiness: Susan Henry from Alterna Savings, Keshiv Kaushal from Propel Impact, Leah Perry from Wittington Ventures, and Behi Shafiei from Wealth Bridge Consulting.
The conversation challenged many of the assumptions founders often hear about funding and investment, and highlighted the importance of financial preparation before seeking capital.
Here are the key takeaways from the Women Founders Investment Readiness: Alternatives to Investments webinar:
1. Venture Capital Is Not for Everyone
Venture capital can be a powerful growth tool, but it is designed for a specific type of business.
VC generally fits companies with strong IP, rapid scalability, with a significant exit potential. For many founders, particularly small business enterprises, that model does not align with their business goals or stage of growth.
One of the most important reminders from the panel was that most women-led businesses are not seeking venture capital. However, many are looking to access to $50K–$200K in financing to grow sustainably, hire talent, manage cash flow, or expand operations.
2. What are some realistic Alternatives to VC
The funding landscape is broader than many founders realize. Some of the alternatives discussed included:
- Microloans (e.g., Alterna Savings): up to $25K for pre-revenue founders; up to $50K via BDC joint program.
- Business Accelerator Loans: up to $500K after 12 months of revenue, also from Alterna Savings.
- Propel Impact: fills the $50K–$200K loan gap between microfinance and commercial banking.
- Insurance-based financing & tax-efficient structures (Wealth Bridge Consulting): leveraging corporate cash flow and retained earnings.
- Government grants: provincial, municipal, and federal opportunities.
3. What does “Investable” Looks Like Outside of the VC landscape?
One of the strongest themes throughout the discussion was that financial readiness is really important for founders to focus on, regardless of where capital comes from. Being “investable” outside the VC landscape means having:
- Clean and organized books (make sure to have all your accounting in folders and start bookkeeping early!)
- Clear visibility into cash flow
- Proper business structures, including incorporation and long-term planning considerations
- Key documents ready to go, including: Business plan, Financial statements, Three- to five-year financial model, etc.
- Sales pipeline
For debt financing in particular, personal credit can also play an important role. Don’t get everything organized and reach out to investors when you urgently need capital.
4. What are some practical First Steps for Overlooked Founders
Another important takeaway was that founders should be building their financial foundation before approaching lenders or investors. That includes:
- Separating personal and business finances
- Understanding assets, liabilities, and cash flow
- Creating a financial blueprint tied to business goals
- Building systems and advisory support early.
The conversation also reinforced the value of community and training programs. Lenders often look favourably on founders who are connected to trusted ecosystems and support networks. This is one of the reasons programs like Women Founders are useful to join for immediate funding goals, and for long-term business sustainability and growth.
5. Investor Shortcomings
The ecosystem still has work to do. We have a responsibility to break down silos in the ecosystem to support founders in the best possible way.
- There is limited awareness of non-VC financing pathways
- Funding ecosystems that operate in silos, with little overlap between venture, microlending, and alternative financing communities
- A need for more transparent investor engagement and follow-through
- Founders deserve timely feedback and meaningful introductions. Providing support for founders to help move the conversation forward towards making an informed decision, whether that’s a yes or a no.
The conversation emphasized the importance of financial preparation for founders, before seeking capital. The conversation also highlighted gaps in the current ecosystem, including lack of awareness about non-VC options and siloed funding communities.
What stood out the most in the conversation to me is that there are many options to access capital for founders, without having to think about giving up equity in your business as the only option. More than that, financial readiness, and preparation matters so much as you’re starting and growing. I can’t emphasize how important it is to find a CPA and a bookkeeper that can support you early on, when you’re starting to make sales.
Don’t wait until you’ve invoiced and a few bank statements have passed by before doing this. Getting all your paper work and books in order can help in the long-term, but it will also help you from a wellness perspective, as that will alleviate added stress on you later on.
Inclusive Entrepreneurship 