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-- WITH PHOTO -- TO BUSINESS, AND NATIONAL EDITORS:
NWBC Statement: Banks Need to Court Women-Owned Businesses
WASHINGTON, March 4, 2014 /PRNewswire-USNewswire/ -- The National
Women's Business Council releases a statement following the recent
Washington Business Journal article.
"Women entrepreneurs champion the title of 'fastest growing sector in
the small business community,' even as access to capital remains a
major challenge. The National Women's Business Council (NWBC) research
has found that businesses that start with more capital have higher
rates of survival. Loans from financial institutions are an important
source of capital, but women-owned and women-led businesses obtain
fewer loans than average," said NWBC Chair Cara Harris.
As outlined in the 2013 NWBC annual report we recommend community
banks and credit unions implement a plan to court women-owned
businesses. Our research highlights a Kauffman Firm Survey which
tracked a group of firms started in 2004. In 2010, the average
woman-owned ?rm in the sample received $38,217 of new ?nancial
capital, about half of what the average man-owned ?rm received. We
want to see this number grow. Additionally, a new report released by
Treliant Risk Advisors and NAWBO Greater DC outlines strategic ways
for banks to increase lending efforts to women business owners.
The economic impact of women-owned businesses is significant and
growing. Women entrepreneurs need access to more loans, the NWBC
encourages community banks and credit unions to increase their lending
efforts to women, which will contribute to economic gains for women
entrepreneurs and the nation's economy.
View the Washington Business Journal article here:
Logo - http://photos.prnewswire.com/prnh/20110909/DC65875LOGO
Contact: Krystal Glass Communications Director National Women's
Business Council Krystal.Glass@nwbc.gov O: 202.205.6829
SOURCE National Women's Business Council
-0- 03/04/2014
/Photo: http://photos.prnewswire.com/prnh/20110909/DC65875LOGO
/Web Site: http://www.sba.gov
CO: National Women's Business Council
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0000 03/04/2014 18:36:00 EDT http://www.prnewswire.com
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