Small Business is our Business

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.

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