The Fastest-Growing Sector of American Entrepreneurship: Women
Over the past 50 years women have gone from owning 4.6% of all businesses to 40%, according to the American Express 2018 Report on the State of Women-Owned Businesses. We may own a lot of businesses but we still struggle to get a loan when we need one. Take Lisa Michele Chretien, CEO of Laguna Beach-based EventMover, a transportation logistics company that moves corporate assets for trade and auto shows, domestically and internationally.
Lisa needed a line of credit to grow her $3.5 million in annual revenue business, was looking for a loan of about three-quarters of a million dollars in credit, but instead, hit a wall. She went to 25 lenders in Orange County and every single one said no.
See what she did and how she overcame a roadblock, one that persists for the fastest-growing sector of American entrepreneurship: women.
Hint: She finally got her line of credit, but only after her accountant approached a lender he had done business with for years. As she tells it: ”I felt like I had traveled back in time, before 1988 and the passage of the Women’s Business Ownership Act — when women were required to have a male relative sign a business loan.”
Source: https://www.escapefromcorporateamerica.com/2019/10/the-fastest-growing-sector-of-american.html
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