The B2B alternative finance provider Growth Lending has partnered with Currencycloud, the experts simplifying business in a multi-currency world. Clients will enjoy rapid access to funds, greater flexibility and access to leading FX solutions.

The partnership enables Growth Lending to automate its payments through Currencycloud’s API, enabling them to efficiently process millions of pounds in payments every day. With the API integrated into the lender’s system, Growth Lending can instruct cash allocation every 15 minutes. In addition to these efficiencies, Growth Lending can offer more support to SMEs and mid-market firms trading overseas by providing them with access to competitive FX rates as well as more currencies.

Growth Lending’s Portfolio and Business Operations Director Faye McDonough says of the partnership: “We are always looking for ways to offer UK SMEs access to exceptional products as they scale. Currencycloud was the only provider that had all the features we needed to do this. The firm’s API improves our processing speed, enabling us to provide SMEs with more rapid access to funds when they need them. Our clients can get more from their overseas trade too, because we can offer them Currencycloud’s market-leading FX rates.”

Nick Cheetham, Chief Revenue Officer at Currencycloud commented: “Our goal at Currencycloud is to reimagine the way money flows around the world. The partnership with Growth Lending does just that by helping SMEs expand with seamless access to working capital, and the funds for growth and research & development when they need it. We look forward to working with Growth Lending as the business expands into the US market.”

The Currencycloud API has been incorporated into Growth Lending’s platform and is available to existing and new customers today.

• Saxo has seen a continuous increase in number of female clients across its 16 offices, with women forming 25 percent of new clients globally
• The majority of new clients are between the age 31-40, and more than 50 percent of new female clients are between the age of 20-40, in line with the global trend that more young people are investing than ever before
• Saxo also launches its latest SaxoSessions video series with BlackRock’s Global CIO of Multi-Asset Solutions Simona Paravani- Mellinghoff in conjunction with International Women’s Day, where she discusses different components of investing as well as diversity and inclusion

Saxo Bank, the multi-asset trading and investment specialist, has experienced a very positive trend of not only more investors entering the capital markets generally, but particularly more female clients embarking on the investment journey than ever before.

In 2020, Saxo globally saw an increase in new women investors by 354 percent compared to 288 percent for men, which is very encouraging. The positive trend continued into 2021. So far in 2022, as many as half of Saxo Bank’s offices welcomed more than 25 percent of new female clients. The influx of new female clients are also generally younger, as the client base evolves to be more diverse.

“At Saxo, we believe that everyone should have the opportunity to fulfil their financial aspirations and make an impact, and investing is one of the ways to make an impact, for themselves and for the world and communities around them.

This International Women’s Day, we are encouraged to see more women choosing to put their trust in Saxo to be their partner as they trade and invest into their future. While we are still far from equal representation, the trend is currently picking up in the right direction.

Saxo is committed to continue to close the gender investing gap and support women in their investing journeys. We do this through a broad palette of initiatives for clients such as providing expert insights on investing, educational seminars, low brokerage fees, and, among many other things, referral programmes,” Kim Fournais, Founder and CEO of Saxo Bank, said.

Across the key markets, here are the most popular stocks with female clients in 2022 (Data collected 24/02/2022):
 

As part of its activities around International Women’s Day this year as well, Saxo has rolled out a series of SaxoSessions videos with BlackRock’s Global CIO of Multi-Asset Solutions, Simona Paravani-Mellinghoff, where she discusses topics close to many women’s hearts – investing, career, and diversity and inclusion.

Find the videos here: https://www.linkedin.com/company/saxo-bank/videos/

Paysend, the card-to-card pioneer and international payments platform, today announced that its U.S. customers can now send funds directly to eligible Mastercard cards in over 60 countries, including Mexico, Guatemala, Dominican Republic, Honduras, El Salvador and Colombia, as well as within the U.S. Recipients will generally see the money appear on their cards within minutes. By leveraging Mastercard Send, a payments platform that enables people and organizations to send and receive money in near-real time, domestically and cross-border, Paysend is able to continue to make digital money transfers more widely available and accessible.

Jairo Riveros, Chief Strategy Officer and Managing Director for the U.S. and LATAM at Paysend, said: “With this new functionality, U.S. residents can easily transfer money to friends and family around the globe, directly to an eligible Mastercard card. There’s no shortage of applications for this convenience. For example, a parent can send quick cash to a child who is studying overseas, a neighbor can pay another neighbor securely for a used item, long-distance family members can quickly send money to help with medical bills and groceries, and much more.”

With more than 20 million migrants from Latin America residing in the U.S., Latin American nations are seeing record remittance flows. According to the World Bank, remittance flows into Latin America increased 21.6% in 2021 over 2020.  

Riveros added, “International remittances to the region serve as a safety net for millions of residents in Latin America and are an important source of financing for economic development.  Our service provides a simple, speedy and secure way to facilitate money transfers into the region and into the hands of those that need it most”. 

Alex Bessonov, Group Head of Network Development and Strategic Partnerships at Paysend, said: “The global pandemic has continued to propel payments and contactless transactions into new highs. As more consumers turn to digital money transfers to support friends and family across the globe, Paysend is continuing to lower the barriers of entry to global payments.”

     This news follows several Paysend partnerships, platform enhancements and growth milestones all focused on connecting friends and family around the world. Globally, the company has acquired over five million customers and grown 14,498 percent over the past four years.

For more information, visit www.paysend.com.

Results highlight growing opportunity for banks to

generate revenue and retain clients with low investment

Aliaswire, a provider of bill payment and credit solutions for businesses and banks, today announced record 2021 results, doubling its total revenue and headcount for the year. The company’s growth was fueled by its DirectBiller^Ò digital bill pay platform, which equips banks to offer their commercial clients a modern, custom-branded billing and payment experience to their customers.

For the 12 months ending Dec. 31, 2021, Aliaswire saw a 400% increase in the number of payments made on DirectBiller and a 70% increase in the total dollar value of payments processed vs. the same period in 2020. The biggest drivers of these increases were from major utilities, insurance companies and the public sector. Aliaswire currently supports over 800 businesses on the platform and an annual processing run rate of nearly $6 billion.  

DirectBiller is a software-as-a-service (SaaS) platform that manages the end-to-end process from invoicing through payment reconciliation and integrates with banks’ treasury management systems and their clients’ ERP systems. Businesses can send digital bills, accept digital payments, and receive funds the next business day. Their customers can make automated, scheduled, or one-time payments by computer, voice, or mobile device, including text to pay. Both banks and their clients are supported by a dedicated support team.

“Both businesses and consumers are looking for more convenient and secure ways to pay their bills,” said Jed Rice, CEO of Aliaswire. “Banks are well positioned to help their commercial clients deliver on that need. DirectBiller gives banks the ability to offer the latest digital bill payment capabilities, while also generating profitable new fee revenue and creating stickier relationships. It’s a huge opportunity.”

Aliaswire is carrying its strong momentum into 2022:

·       Last month, Aliaswire announced integration of DirectBiller with Mastercard Bill Pay Exchange. Billers using the DirectBiller platform can now offer an enhanced billing and payment experience to consumers who prefer to pay bills through their financial institution’s bill pay service or through a bill pay aggregator.

·       In February, Aliaswire also announced the addition of a new bank account validation (BAV) solution for banks and their commercial clients. The availability of the solution comes in advance of the pending enforcement of a new web debit rule which requires ACH originators to make account validation an explicit part of their fraud detection efforts.

·       In January, Aliaswire made its DirectBiller platform available to businesses in Canada in both English and French-Canadian language. DirectBiller is certified by Moneris Canada to support credit card payments in the country.

·       In December 2021, Aliaswire was the first business service provider to deploy Citi’s new Request for Pay and Citi Verify services, part of Citi’s Present and Pay real-time payment capability.

The iFX EXPO Dubai 2022 was a huge triumph, as expected. Following last year’s success, the world’s largest B2B fintech event returned to the UAE for another insightful edition. The expo took place at Za’abeel Hall 6, Dubai World Trade Centre from 22-24 February 2022 and attracted more than 2500 attendees. Innovators, thought leaders and industry shapers flocked to the UAE’s leading event venue, resulting in a hub of ideas and networking opportunities. The atmosphere was extraordinary, so let’s look at the highlights.

The Venue

Such a high-profile event needs a ‘wow-factor’ venue and that’s exactly why the Dubai World Trade Centre was chosen. It enjoys 3 million+ visitors annually and majestically greeted all expo attendees. With many guests visiting from afar, this location will surely have made a very big impression. It’s also important to note that Dubai itself also makes for a great financial expo location. It’s recognised as the leading financial centre in the Middle East, Africa and South Asia region.

The Agenda

Packed full of big brands, great speakers, and entertainment, the iFX EXPO got off to a great start with the Official Welcome Party which took place at the luxurious Soho Garden DXB at the Meydan Grandstand. This cosmopolitan enclave on the edge of the city offered an exclusive evening at Dubai’s number one entertainment venue where social media lit up with attendees highly anticipating the start on Wednesday morning.

Day 1 (23 February) saw guests keen to meet and explore the Expo Floor, Speaker Hall, Idea Hub, Lounges, Meeting Rooms, Food Court and more. Come nightfall, the Official iFX EXPO Dubai 2022 Night Party then kicked into action. This took place at the exquisite Soho Garden Palm Jumeirah where The London Cabaret Club kept attendees captivated with an outstanding performance.

Day 2 (24 February) began and industry professionals continued to make their way around the 5000 m² Expo Floor, meeting with representatives from leading international brands. Attendees met with people at the top of their game from many different fields, with extras offered courtesy of iFX EXPO sponsors including attendee bags, coffee, a selfie bot and a smoothie bar.

Top Insights

As always, iFX EXPO Dubai welcomed many high-profile speakers from global fintech brands including company founders, CEOs and directors. There were insights from well-established fintech companies as well as start-ups bringing fresh and creative ideas to an ever-changing industry.

The Speaker Hall also saw a host of fast-paced, high-level conversations with many key topics covered during the course of the event with contributions from brands such as Exness, Tickmill Group, AvaTrade and more. As well as ongoing talks in the Speaker Hall, the Dubai expo also featured an Idea Hub, where experts presented very current and extremely relevant topics that look set to shape the months ahead.

Speaking of the iFX EXPO Dubai’s success, Ultimate Fintech’s Head of Marketing, Dusan Camilovic stated:

“People return to iFX EXPO events to hear the latest industry developments and to share ideas and insights that continue to drive the industry forward. This year’s instalment in Dubai provided the perfect platform to delve into fascinating topics like the Metaverse, which is on the minds of fintech experts worldwide. Knowing you’re in an environment where likeminded people respect and understand your ideas is really empowering and leads to many exciting collaborations.”

That’s a wrap for iFX EXPO Dubai 2022 but the event videos are coming soon and will be available to watch via the official iFX EXPO YouTube Channel.

Next Event – iFX EXPO International, Cyprus

While the Dubai event may be over for another year, organisers Ultimate Fintech are already working on the next iFX EXPO International which will take place on the Mediterranean island of Cyprus from 7-9 June 2022 at the Palais de Sports, Spyros Kyprianou Athletic Centre.

This will be a great chance to discover, meet, discuss and engage with a relevant audience and gain invaluable tools to grow your business successfully. Like all other past iFX EXPO Limassol events, this promises to be an energetic, bustling and educational affair packed with networking opportunities, lively parties and treats throughout. Take advantage of the sponsorship and booth opportunities available and register your interest now.

The iFX EXPO Dubai 2022 was a huge triumph, as expected. Following last year’s success, the world’s largest B2B fintech event returned to the UAE for another insightful edition. The expo took place at Za’abeel Hall 6, Dubai World Trade Centre from 22-24 February 2022 and attracted more than 2500 attendees. Innovators, thought leaders and industry shapers flocked to the UAE’s leading event venue, resulting in a hub of ideas and networking opportunities. The atmosphere was extraordinary, so let’s look at the highlights.

The Venue

Such a high-profile event needs a ‘wow-factor’ venue and that’s exactly why the Dubai World Trade Centre was chosen. It enjoys 3 million+ visitors annually and majestically greeted all expo attendees. With many guests visiting from afar, this location will surely have made a very big impression. It’s also important to note that Dubai itself also makes for a great financial expo location. It’s recognised as the leading financial centre in the Middle East, Africa and South Asia region.

The Agenda

Packed full of big brands, great speakers, and entertainment, the iFX EXPO got off to a great start with the Official Welcome Party which took place at the luxurious Soho Garden DXB at the Meydan Grandstand. This cosmopolitan enclave on the edge of the city offered an exclusive evening at Dubai’s number one entertainment venue where social media lit up with attendees highly anticipating the start on Wednesday morning.

Day 1 (23 February) saw guests keen to meet and explore the Expo Floor, Speaker Hall, Idea Hub, Lounges, Meeting Rooms, Food Court and more. Come nightfall, the Official iFX EXPO Dubai 2022 Night Party then kicked into action. This took place at the exquisite Soho Garden Palm Jumeirah where The London Cabaret Club kept attendees captivated with an outstanding performance.

Day 2 (24 February) began and industry professionals continued to make their way around the 5000 m² Expo Floor, meeting with representatives from leading international brands. Attendees met with people at the top of their game from many different fields, with extras offered courtesy of iFX EXPO sponsors including attendee bags, coffee, a selfie bot and a smoothie bar.

Top Insights

As always, iFX EXPO Dubai welcomed many high-profile speakers from global fintech brands including company founders, CEOs and directors. There were insights from well-established fintech companies as well as start-ups bringing fresh and creative ideas to an ever-changing industry.

The Speaker Hall also saw a host of fast-paced, high-level conversations with many key topics covered during the course of the event with contributions from brands such as Exness, Tickmill Group, AvaTrade and more. As well as ongoing talks in the Speaker Hall, the Dubai expo also featured an Idea Hub, where experts presented very current and extremely relevant topics that look set to shape the months ahead.

Speaking of the iFX EXPO Dubai’s success, Ultimate Fintech’s Head of Marketing, Dusan Camilovic stated:

“People return to iFX EXPO events to hear the latest industry developments and to share ideas and insights that continue to drive the industry forward. This year’s instalment in Dubai provided the perfect platform to delve into fascinating topics like the Metaverse, which is on the minds of fintech experts worldwide. Knowing you’re in an environment where likeminded people respect and understand your ideas is really empowering and leads to many exciting collaborations.”

That’s a wrap for iFX EXPO Dubai 2022 but the event videos are coming soon and will be available to watch via the official iFX EXPO YouTube Channel.

Next Event – iFX EXPO International, Cyprus

While the Dubai event may be over for another year, organisers Ultimate Fintech are already working on the next iFX EXPO International which will take place on the Mediterranean island of Cyprus from 7-9 June 2022 at the Palais de Sports, Spyros Kyprianou Athletic Centre.

This will be a great chance to discover, meet, discuss and engage with a relevant audience and gain invaluable tools to grow your business successfully. Like all other past iFX EXPO Limassol events, this promises to be an energetic, bustling and educational affair packed with networking opportunities, lively parties and treats throughout. Take advantage of the sponsorship and booth opportunities available and register your interest now.

Liquidity is the degree to which an asset or security can be easily bought or sold in the market at a price that reflects its actual value. A liquid asset has high liquidity, while a less liquid one has low liquidity.

When we talk about Forex, it refers to a market's ability to determine how much exposure traders can have in the market before their orders start affecting prices.

Liquidity is a crucial aspect of any market to ensure smooth transactions among traders. This is so because when there are many orders in the market, it affects the price, limiting or even preventing large-scale investors from entering or exiting a particular asset. It can be seen that there are times when traders would try to sell assets, but they are met with high resistance because their orders are not being completed fast enough, resulting in them having negative experiences trading.

When traders enter the market, they need to understand the importance of liquidity providers. These are individuals who create liquidity to lend their trading capital. They do this by providing traders with the means to influence the price of an asset without actually owning it. The market makers, or liquidity providers, make money primarily by charging a bid-ask spread.

Forex liquidity providers employ various strategies like algorithmic trading. They use algorithms and quantitative analysis (involving complex mathematical computations) to decide when to provide quotes based on current market conditions, news, and other factors that might affect the demand/supply for certain assets.

How does this affect traders?

This is important to traders as they now have access to another avenue of making money. Some continue to provide liquidity even when there are not many trades. In essence, they allow the market to continuously flow and ensure that traders can take advantage of price movement whenever it happens rather than just being stuck in a certain position, resulting in them losing more money if the market continues to move against them. Further, those who wish to short an asset (or trade it down) will be able to do so without too much difficulty. This results in better prices for buyers and sellers alike, thus ensuring smoother transactions among all parties involved.

To have a successful Forex trading career, one must understand the importance of FX liquidity providers and identify them in real-time. This is because a lack of knowledge about their existence might result in traders not getting the best prices when they trade. They need to know that there will always be those who provide liquidity throughout the night and day. Hence, they have an opportunity to get into trades without it causing too much of a significant impact on price movement that will ultimately affect their profitability.

Liquidity is essential to traders because, without it, they are at the mercy of wild price swings, which can go either way and thus cause them significant losses.

How do liquidity providers make money?

As we said before, Liquidity providers in Forex make money from the bid-ask spread, which is the difference between what a buyer is willing to pay for an asset and what a seller is willing to accept to sell that asset. This will continue as long as there are flows into and out of the market because liquidity providers, being market makers, constantly need to adjust their quotes based on these factors.

Liquidity providers do not just appear out of nowhere, though; they are usually found in places where traders are already looking to trade. This means that there is likely an existing market or order book, if you will, meaning that buyers and sellers are constantly interacting with them. This results in more supply/demand for assets, resulting in tighter bid-ask spreads, thus creating more money for liquidity providers. They also earn rebates for adding liquidity because some trading platforms offer incentives to those who constantly add quotes even when it's not always paired with trades coming their way. As a result, liquidity providers make money throughout the day while traders benefit from better pricing on trades done through their market.

How does one know if there is sufficient liquidity?

The best way to determine this is by checking out different online trading platforms. Some of these sites offer more information about how much liquidity there is at any given time, the spreads involved, etc., so be sure to check on these things when looking for an appropriate Forex broker, depending on what your needs are. Furthermore, your Forex broker might have their tools to help you understand more about these things, so be sure to consult them as well.

In conclusion, traders need to realize the importance of liquidity providers because they can make money faster and more efficiently. Liquidity providers are essential to traders because they provide a constant flow of prices that allow them to take advantage of every opportunity without impacting their trading decisions. This results in more opportunities for them and better buy/sell spreads which ultimately means better returns on investment. There are numerous liquidity providers out there, especially when you consider the size of the Forex market. These days, most online trading platforms also contain information about the best liquidity providers, so checking these sites will help beginners know what's going on in real-time.

Demand for company’s AI-powered risk decisioning software continues to drive global expansion

Provenir, a global leader in AI-powered risk decisioning software, today announced Francisco Franch will be leading Sales in Spain to serve the growing number of financial services organizations seeking AI-powered risk decisioning solutions. Franch will oversee sales operations, business development and go-to-market strategies for Spain.

Franch brings more than 18 years’ experience in financial services, including four years in Sales for EMEA at Provenir. He also held several progressive sales roles at Ejecutivo de Cuentas developing marketing strategies and identifying and building technology partnerships to reach new customers.

“Customer expectation for real-time decisions continues to drive fintechs and financial services providers to find solutions to meet this demand,” said Frode Berg, Provenir’s Managing Director of EMEA. “Across EMEA, we’re experiencing significant growth and interest in our real-time decisioning solution. Francisco will lead Sales in Spain where we are expanding quickly. Customers and prospects will benefit significantly from his experience with Provenir’s AI-powered risk decisioning software and his rich industry knowledge.”

Provenir’s AI-powered risk decisioning software is the industry’s first, true risk-decisioning ecosystem for financial services organizations. It provides a comprehensive real-time view of unified decisioning-performance, third-party and historical data, as well as automated analytics. Through one unified digital experience, users can create the platform-as-a-service (PaaS) cloud solution that best fits their business needs.

Analysis of 100,000 Firms Finds Pandemic Revenues and Profits Fell Last Year

NEW YORK, March 08, 2022 (GLOBE NEWSWIRE) -- The annual Biz2Credit Women-Owned Business Study found that profits for female business-owners dropped 26% in 2021 from 2020, while average annual revenues dipped 4%. Additionally, the study found that operating expenses increased, the primary reason profits fell in 2021.

“The cost of doing business rose significantly in 2021, particularly labor costs, fuel costs, and raw materials and inventory prices, which skyrocketed because of supply chain disruption,” explained Rohit Arora, CEO of Biz2Credit, one of the country’s leading experts in small business finance and FinTech. “These economic pressures hurt women-owned firms especially hard. Supply chain shortages negatively impacted the earning potential of small businesses.”

“Further, the emergence of the omicron variant at a time when the first wave of COVID began to wane and the persistence of restrictions hurt small businesses. This resulted in the reluctance of consumers to patronize restaurants, Broadway theaters and other entertainment venues, and travel and tourism-related businesses,” Arora added.

Women-owned business profits averaged $88,995, much less than 2020’s figure of $119,654, and $47,152 less than the average for male-owned firms ($136,147) in 2021. The analysis also revealed that the average credit score (580) for a female business owner decreased from 588 last year and was 14 points lower than the average score of a male business owner (594) in the study.

The Biz2Credit study reviewed 100,000 credit inquiries from across the country for the full prior year (2021) and examined the financial performance of women-owned small- to mid-sized companies in the United States. Despite austerity imposed by the COVID-19 pandemic many women-owned businesses continue to find growth opportunities.

The Biz2Credit Women-Owned Business Study examined financial indicators, including annual revenue, operating expenses, age of business, and credit scores of loan applicants. Key findings:

Performance of Women-Owned Businesses

• Average Annual Revenue dropped from $493,401 in 2020 to $475,707 in 2021.
• Average Profits (annual revenue – operating expenses) of women-owned business fell to $88,995 in 2021 from $119,654 in 2020
• Average Expenses increased from $373,748 in 2020 to $386,712 in 2021.
• Average Credit Score for female business owners dropped from 588 in 2020 to 580 in 2021.
• Top Industry: Services (except public administration) represented 31.9% of the women-owned companies in 2021.

“Although average annual revenue for women-owned businesses declined, one of the reasons is because women began starting new businesses at a higher rate during the pandemic. That’s the bright side,” Arora said. “The decline in the average age of business declined, which is an indication of younger businesses seeking funding on our platform in the past year.”

Comparison of Women-Owned and Men-Owned Companies

Biz2Credit compared male-owned and female-owned businesses in its study, and the numbers underscore a larger problem: women-owned companies are experiencing a revenue gap. Some specifics:

• Women-to-Men Borrowing Ratio: 33% female vs 67% male business loan applications according to Biz2Credit data in 2021.
• Average Annual Revenue: Women-owned businesses ($475,707) earned $199,936 less on average than male-owned firms ($675,643) in 2021.
• Average Credit Score: On average the credit score for women-owned businesses (580) were 14 points lower than male-owned Businesses (594) in 2021.
• Average Loan Size for women-owned businesses ($49,712) was 41% lower than the average loan size for businesses owned by men ($83,198) in 2020.
• Average Age of Business for women-owned businesses was almost 4 years (45 months) and was lower than the age of business for male-owned companies of exactly 4 years (48 months).

Industry

Almost one-third (31.9%) of the women-owned companies that applied for business loans during the past 12 months have been in Services (except Public Administration). Retail accounted for 15.1% of the applicants, followed by Accommodation and Food Services (9.1%), Health Care and Social Assistance (7.4%), Transportation and Warehousing (5.4%), and Arts, Entertainment, and Recreation (4.7%).

Geography

Texas was the state that produced the most applications from women-owned companies, followed by Georgia, Illinois, Florida, California, and New York.

Paycheck Protection Program (PPP) Round 2: Women-owned vs. Male-owned businesses

In December 2020, Congress appropriated $284 billion for small business COVID relief for a second round of the Paycheck Protection Program (PPP). Biz2Credit examined its data from PPP loan applicants and discovered that 49% of the applicants for PPP Round 2 were women business owners (compared to all SBA lenders at 34%). The average approved amount for PPP Round 2 applicants who identified as women business owners on the Biz2Credit platform was $23,101, compared to $36,348 for those who identified as male business owners.

Importance of Women-Owned Businesses

There are nearly 13 million women-owned businesses in the U.S. as of 2019, and from 2014 to 2019, the number of firms owned by women of color increased by 43%, according to American Express’s State of Women-Owned Businesses Report. An estimated 10 million people are employed by women-owned companies, and they generate nearly $1.8 trillion in revenue, according to the Census Bureau.

Biz2Credit partnered with the Association of Women's Business Centers, which works to secure economic justice and entrepreneurial opportunities by supporting and sustaining a national network of 140 Women’s Business Centers (WBC). These centers help women succeed by providing training, mentoring, business development, and financing opportunities to over 150,000 women entrepreneurs each year.

“Women’s Business Centers have grown tremendously in number of locations and clients served. As economic first responders to the pandemic, Women’s Business Centers assisted a record number of clients to access a record level of funding for their businesses, compared to prior years,” said Corinne Hodges, CEO of the Association of Women’s Business Centers. “The national network of 140 Women’s Business Centers provides free counseling, training, networking opportunities and perhaps most importantly, access to much needed funding (or capital) for businesses to get started and/or grow.”

In 2021, WBC locations served 88,000 clients, helped start 3,300 firms, and supported 89,697 jobs by offering thousands of more than 27,000 training sessions and nearly 170,000 counseling hours. Clients of WBCs received a higher total in SBA loans ($262,455,406) in 2021 than 2020 (up 31%).

A Story of Success

Women business owners expressed the importance of securing financing during the difficult economic circumstances of the COVID-19 pandemic, which continued to ravage many small businesses during 2021. Many entrepreneurs who were able to obtain funding said it they received a lifeline.

“The funds that I received allowed me to alleviate a lot of tension and pressure and enabled me to keep my staff,” Debbie Elder, who has owned Shady Oak Primary School in Richmond, TX, since 2014. “Once I received my money, that whole headache went away. I was then able focus on bringing in more students, marketing, and making sure that this financial situation never happens to us again.”

To download the report, click here:

Methodology

The dataset for Biz2Credit’s Women-Owned Business Study is comprised of nearly 100,000 completed credit applications received via the Biz2Credit platform in 2021. The four most important variables in the analysis were: annual revenue, operating expenses, age of business, and personal credit score. The data was then tabulated to examine women-owned and male-owned firms based on annual revenue, operating expenses, age of business, personal credit score, funding rate, and average loan size. The study looked at 20 different industries, as well as geography.