NWBC Statement: Banks Need to Court Women-Owned Businesses



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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:

http://www.bizjournals.com/washington/blog/2014/02/banks-should-target-women-businesses.html?page=all

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

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/Photo: http://photos.prnewswire.com/prnh/20110909/DC65875LOGO

/Web Site: http://www.sba.gov

CO: National Women's Business Council

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