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Others report unclear approval criteria and communication they describe as patronising, leaving some feeling they are not treated as the primary decision-makers in their own businesses.
Those experiences are highlighted in new research from Australian fintech Valiant Finance, which found nearly half of female business owners said their gender has negatively affected their ability to access capital.
The survey challenges the widely cited idea of a “credit confidence gap” among women founders.
According to the research, 59 per cent of female business owners said they are confident in securing finance, compared with 61 per cent of male business owners.
Women also reported strong comfort with borrowing to grow their businesses. The research found 78 per cent are comfortable taking on debt to support growth, while 57 per cent see finance primarily as a growth enabler.
Female founders were also more likely than men to have applied for finance in the past three years, and 73 per cent said they would apply again in the next 12 months if needed.
Despite this, perceptions of fairness differ significantly.
Only 33 per cent of women believe lenders “often or always” treat male and female founders equally, compared with 61 per cent of men. Meanwhile, 43 per cent of women said gender has negatively impacted their ability to access finance, while 93.5 per cent of men said gender has never been a hurdle.
Natalie Ip, head of commercial and development at Valiant Finance, said the findings point to structural barriers rather than a lack of confidence among women seeking funding.
“Women know what products exist, they just don’t know if they’ll be approved,” Ip said.
“When asked what would help, the top response was ‘increased confidence in approval’, not more education.”
The research found 77 per cent of women say they understand finance products well, yet 59 per cent have avoided applying because they lacked information about the process.
“They’re growth-oriented, actively applying for finance and ready to borrow,” Ip said.
“But they’re hitting friction at every step. It’s not their confidence that needs fixing. It’s the system.”
Women now own or lead around 35 per cent of Australian small businesses. Ip said addressing barriers in lending could help unlock further economic growth.
“We’d like to see the system change to one that is designed around partnership, not permission,” she said.
“Too often, women are subtly treated as if they need validation, extra proof, or a co-signer mindset to be taken seriously. It should only be banking information that matters like credit score, amount, dependents, assets and debts.”
The research surveyed 147 Australian business owners across industries, including trades, retail, professional services, hospitality, and technology. Of the respondents, 51 identified as female, 46 as male, and 50 preferred not to disclose their gender. Participants were asked about confidence, debt comfort, fairness in lending, application behaviour, and barriers to accessing finance.
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