Houston Women's Chamber, LiftFund to launch small business loan for female entrepreneurs
Houston Chronicle | November 05, 2019
The Greater Houston Women's Chamber of Commerce and small business lender LiftFund are going to launch a revolving loan fund for female entrepreneurs.PurePoint Financial, a division of MUFG Union Bank, has contributed a seed grant of $10,000 for the fund to lend to women-owned small businesses. As the money is lent and repaid, the initial $10,000 will revolve to help more women-owned businesses.The fund strives to reduce challenges women face when accessing capital. According to the National Women’s Business Council, 5.5 percent of women-owned businesses in the U.S. access capital from banks or other financial institutions compared to 11.4 percent of male-owned companies. The fund "allows us to provide yet another valuable economic development resource for deserving entrepreneurial women to create and grow a sustainable business," Suzan Deison, CEO of the Greater Houston Women's Chamber of Commerce, said in a news release.