Women small business owners are now a force in the U.S. economy. A recent report by the U.S. Senate Small Business & Entrepreneurship Committee found that woman owned businesses represent 30% of small companies, yet receive only 4.4% of the total dollars in conventional small business loans—— that’s $1.oo for every $23.00 loaned. A close look at the numbers of loans given to businesses owned by women reveal—
*Conventional small business loans—–16%
*Small Business Administration backed loans——17%
When it comes to venture capital funding, these woman owned businesses receive only 7%. Government contracts are also difficult to receive. Only four percent (4%) of these businesses in 2012 received government contracts. The committee hopes to make changes in the SBA’s microloan program aimed at helping companies borrow up to $50,000. The Intermediary Lending Program, a program that allows business owners to borrow between $50,00 and $200,00o is up for reauthorization and the committee recommends continuation.