Women Entrepreneurs Shortchanged in Business Funding
April 26, 2018
Women entrepreneurs and small business owners only receive about 4 percent of all money lent to small businesses each year, yet account for 30 percent of all businesses in the U.S. and generate more than $1.7 trillion in revenue.
This means that $1 out of every $23 in small business loans is given to a woman-owned business, according to a U.S. Senate Committee report.
Arizona ranks as the 10th-highest state for the growth of women-owned businesses in the last 20 years, and since 2007, the number of Hispanic women entrepreneurs tripled here.
“From a female perspective, I think where the challenge lies is that women tend to start smaller businesses, microbusinesses, and most women and women of color tend to start their business with their own personal capital or borrowing from family or friends or even a personal credit card,” said Lea Marquez Peterson, president and CEO of the Tucson Hispanic Chamber of Commerce.
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