SBA urged to increase outreach to women business owners

Northwestern Financial Review, May 15-May 31, 2004

The Small Business Administration set a 50-year record in fiscal 2003 with 81,446 loans and equity investments to small businesses totaling $16.9 billion. The National Women's Business Council, however, reports that dollars going to women-owned firms is lagging behind the average. In 2003, the average value of SBA-backed loans and equity investments provided to women-owned businesses was $144,326, compared to the average value of $207,872 for all SBA-backed loans and equity investments.

"The NWBC recommends that the SBA increase its outreach efforts to the women's business community, and to the financial community, to encourage more participation by women business owners in SBA loan programs," said Marilyn Carlson Nelson, chairman and CKO of Carlson Companies, and NWBC chairman.