October I, 2014
Minority & Small Business Week
You Go
Girl!
Page 5
ously as a business owner, especially when
you’re small, is the hardest part,” said Karen
Lawrence, owner o f It's My Affair, LLC, an
event management firm.
In spite o f the obstacles, consider these
statistics and decide for yourself whether or
not you think women-owned businesses,
especially women o f color, have succeeded.
W omen-owned businesses created 23
million jobs (16 percent of all jobs available)
by 2009; were responsible for an economic
impact of $3 trillion; and rank second only to
publicly traded companies.
Growing Black
Women-Owned
Businesses
African-American women are
breaking records and making sig
nificant economic impact with their
businesses. Between 1997and2013,
the growth of black women as busi
ness owners grew an unprecedented
258 percent.
To put this in perspective, this
growth is six times the national av
erage and the economic impact from
black female owned businesses was
$226billion in revenue. But the road
to success has not been easy.
Women face more barriers to
success than men. For example, loans
and venture capital are much more
difficult for women-owned busi
nesses to secure. Government con
tracts are harder to obtain.
“Getting people to take you seri-
The growth o f African-American women
as business owners is six times the
national average.
mmhmhmmhhnhhwbmwmmhm ^ ^
Grants
Support
Workplace
Development
The Bank of America Charitable
Foundation last week announced
$422,500 in workforce and commu
nity developm ent grants to 22
nonprofits in Portland to help indi
viduals and families build better fi
nancial lives. These grants will sup
port education, jobs, affordable
housing and neighborhood revital
ization; areas vital to creating
healthy communities.
According to the grant recipients,
roughly 175,000 individuals will be
impacted by these grants, more than
5,000 students will be to be the first
person in their family to attend an
institute of higher education and 238
people will receive homeownership
counseling services.
A few o f the local organizations
receiving funding include Evergreen
Habitat for Humanity, to support
local students who will use math
skills to build a house; Innovative
Changes, to fund financial educa
tion, credit building opportunities
and post-secondary education;
Hacienda Community Development
to serve and meet the need of first
tim e hom ebuyers; and O regon
Tradeswomen, to support a pro
gram that fosters the self-sufficiency
of low-income women by providing
job training and job placement.
For more information or to submit
an application for grant funding,
visit bankofamerica.com/founda-
tion.
»
G o o d -b y e ,
s h o rt-te rm fixes.
Home Equity
Line of Credit
O'
Hello, long-term
improvements.
Introductory rate tor 5 m onths
Rates as low as
1.50-
3.99 a <?
Rate available 09/02/14-10/31/14
Rates are sub/ect to change
With competitive rates and flexible terms, a U.S. Bank Home Equity Line
of Credit can help you make lasting improvements today.
All of
serving you*
Variable rate after Introductory Period
lJU branch
Q
usbank.com/lowrate
O 800.209.BANK (2265)
H^banlc
E^ ! ,ne
Equrty L,nM 01 Cre<lrt
“ 80% toan to *alue <LTV><*less The introductory interest rate will be fixed at 1 50% during the five month introductory
8,1 LTV.?tl0re
Offer 18 a*ai,at>te * * new appHcatlons submitted from September 2.2014 to October 31,2014 Existing customers are eligible with at least a $20,000 increase in
nf
Wr” luctof> P^tod: the APR is variable and is based upon an index plus a margin. The APR will vary with Prime Rate (the index) as published m the Wall Street Journal. As
L?68 ° * CrBdW Tanged from 3 W% W to 8 24%
H'9herra,es n«y apply lor lower credit limits (depending upon the market), an LTV at or above 80 *. a low credit score
and/or not having a U S Bank personal ftockage Checking account. The rate will not vary above 1 8 * APR, a applicable state law. or below 1.50* APR Choosing an interest only repayment may cause your monthly payment to
' y * ase„possib,V substantially once your credit line transitions into the repayment period An annual lee ot up Io $90 may apply after the first year and is waived with a US Bank personal Platinum Checking Packaqe
1 33 |
, K.nsurn7 ?r'.Cin? lnf° r,™tK5n brooiure * * tenns and conditions that apply to US Bank Package Checking accounts Loan approval is sublet to credit approval and program guidelines Not all loan programs
are available in all states tor alt loan amounts Interest rates and program terms are sublet to change without notice Customer pays no closing costs except escrow related funding costs Property insurance is required
rwsi« Consult your tax advisor regarding the deductibility ot interest Other restrictions may apply Home Equity Loans and Lines ot Credit are offered through US Bank National Association Deposit Products are offered
L E N D E R through U.S. Bank National Association Member FOIC. ©2014 U.S. Bank All rights reserved 140989