Recent studies have shown that woman business owners have a much tougher time obtaining small business financing than their male counterparts…and one motivated Senator is on the job and fighting for change.
Maria Cantwell is the chairwoman of the Senate Committee on Small Business and Entrepreneurship, and she’s made closing this particular “gender gap” a top priority. She has recently introduced legislature that would make it easier for women-owned businesses to obtain both small business loans and government contracts.
Her actions come at a better time: though women own more than 30% of U.S. businesses; they receive less than 5% of the money loaned to entrepreneurs. Her legislation would introduce minimums and provisions that would help to ensure that female business owners get a much more even slice of the financing that’s available.
What are your thoughts on Senator Cantwell’s initiative? Tell us in the comment below.