Women have made great strides in many fields but still face high hurdles when it comes to obtaining capital. Consider, for example, the case of Sherri Tenpenny, who runs Oste Med II, a medical clinic in Strongsville, Ohio.

Tenpenny had been Emergency Room director of a large hospital and owner of an emergency medical company. Despite an excellent financial track record, she couldn’t get a business loan, and resorted to obtaining a $200,000 line of personal credit, subsequently reduced by the bank despite the solid growth and revenues of her business. But male bankers were not the problem.

A woman banker canceled a scheduled appointment, then failed to return phone calls, although Oste Med II was generating revenue of $1 million a year and still expanding. Such obstructions force many women to start their own business using personal or family funds.

Lulu Wang used personal funds to launch New York-based Tupelo Capital Management, whose clients include Vassar College and Cornell University. Muriel Siebert, the first woman to gain a seat on the New York Stock Exchange, tapped her personal savings for the deposit, having been denied the credit normally extended to men.

“There was a time when 70 percent of women’s firms were started with personal credit cards,” says Siebert. “That resulted in high interest rates, which were an obstacle to success. Credit for women is getting better, but it’s got a long way to go.”

Sharon Leeber, owner of Architectural Arts in Dallas, cashed in her retirement funds to start her business. She later secured a loan by skillful use of football tickets for the University of Nebraska, where her father coached. But women should not need extra leverage.

Bankers should take note that female entrepreneurs tend to show loyalty to those who help them in the early days of their business. Shortly after co-founding health food company Kashi, Gayle Tauber was denied credit, even after she generated 600 orders for her product at a trade show. A short time later—but before Kashi found success—several banks were willing to extend credit. These “good guy” banks, all based in San Diego, were Grossmont Bank, Peninsula Bank, and San Diego National Bank.

Kashi went on to grow by 20 percent a year, and many banks wanted her company’s business, but Tauber stayed loyal to those who helped her when times were tough. She recently sold the business to Kraft Foods for more than $30 million.

“Start putting away capital early and develop relational and reputational capital,” advises Lulu Wang. “When you’re ready to go for outside capital, the solid relationships you have developed and your reputation for integrity will be essential to your success.”

Esther Smith, a partner in Qorvis, an investor relations firm based in McLean, Virginia, backed this strategy. Smith gained a reputation for excellence and developed a network while running two business newspapers. This background helped her obtain a private placement for her next publication, Tech News. She raised $350,000, a sum later augmented by an investor. Ten years after the launch, she sold the publication to the Washington Post, which turned it into a $50 million business in less than a year.

As these success stories show, diamonds may be a girl’s best friend, but women entrepreneurs would rather have access to capital so they can proceed with the entrepreneurial spirit that drives them.