Of the 10 million women-owned businesses in the country, fewer than 2 percent exceed $1 million in receipts according to the National Women’s Business Council. 88.5% of women-owned businesses are sole proprietorships, and the percentage of women-owned businesses is growing four times faster than male-owned businesses.
Executive Director, Steven Meyer, participated on a panel at NAWBO-Indy’s January Circle for Learning on January 19th to speak to women business owners about development strategies. The panel shared resources that will help women-owned businesses grow their revenue. Steven specifically shared tips, insights, and information on:
When women business owners should think about acquiring capital or getting a small business loan
What is a CDFI and how can it support women business owners
Who or what type of businesses should consider applying for a loan from the Build Fund
What is the benefit of acquiring capital from a CDFI versus a traditional bank
Steven and his Deputy Director, Evan Tester, are focused on growing small businesses in Indianapolis through the Build Fund, a loan fund operated by King Park. The Build Fund recently became officially certified as a Community Development Financial Institution (CDFI) after a rigorous application process. The loan fund is currently the only CDFI that is specifically devoted to supporting economic development in the city of Indianapolis.
Through flexible, affordable loans, the Build Fund can support small businesses in underserved communities and urban neighborhoods. The organization provides the financial support needed for unique and diverse businesses to thrive, including minority and female-owned businesses.
Contact the Build Fund to learn more.