Women's Business Development Council Launches Microloan Program
The Women’s Business Development Council (WBDC) has launched a new Capital Loan Fund designed to provide local start-ups and growing businesses with working capital and financing for equipment purchases, fit-up costs and other business expenses. The Fund, which can lend as a little as $2,500, was started with the help of grants from Connecticut Innovations and the Fairfield County Community Foundation. According to a recent WBDC market analysis, less than a third of small business loan applications from women entrepreneurs were successful. A U.S. Government report also found that women entrepreneurs received only four percent of total loan value, even though they make up over thirty percent of all small companies. Founded in 1997 as a 501(c)(3) not for profit organization, the Stamford-based WBDC seeks to empower and assist entrepreneurs through an array of small business programs including individualized counseling, financial coaching, training and education programs. Applications for the Capital Loan Fund are being accepted on a rolling basis. For more information or to apply, click here.