So many businesses owned by women were started by women who have a great deal of experience and a proven capacity to succeed. All they need is the money! Yet traditional lenders often ignore them. WomenVenture will not. In fact, women with experience are just the kind of clients that WomenVenture is looking for.
For more than 40 years...
WomenVenture began in 1977, founded by Judy Justad, Carol Truesdell and Marion Etzwiler as CHART, a nonprofit organization supporting women entering or re-entering the workforce. The Minneapolis-based company provides micro loans to women to start or grow small businesses in Minnesota. Because of a recent Wells Fargo grant of $250,000, the organization is now able to help more female-owned businesses.
This is important in Minnesota, where “women own 35 percent all small businesses, yet they access only 4 percent of all bank capital,” according to WomenVenture Executive Director Elaine Wyatt. She adds that "while the number of African-American women-owned business has increased by 79 percent, the average median income for African-American Minnesotans has fallen 14 percent and the poverty rate has increased."
The ideal client
The need to help more women-owned businesses in Minnesota is clear. With the additional funding the organization has received, they are now looking for more women-owned businesses to help. Their ideal client is an experienced woman, with a solid business model, great work ethic, and the ability to pay the loan, who is only lacking in capital.
WomenVenture sees that the opportunity to help more women in Minnesota is there, and they want to be there for them.
To learn more about WomenVenture, go to www.womenventure.org
