GHWCC LAUNCH Fund

The Greater Houston Women’s Chamber of Commerce, (GHWCC) and LiftFund, a nonprofit small business community lender will launch Houston’s first revolving small business loan fund, called the GHWCC LAUNCH Fund. The Fund will support women entrepreneurs with access to capital and business resources to foster female entrepreneurship and reduce the challenges women face when accessing capital.

According to the last census, women business owners represent 40 percent of all small businesses in Houston, making a significant contribution to our local economy. However, the gender gap in equity financing is very prevalent at the local and national level. The National Women’s Business Council reported that only 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, hindering their ability to launch and grow.

“Our Chamber already powers the Houston Chapter of the Golden Seeds Angel Fund. So this new GHWCC LAUNCH Fund allows us to provide yet another valuable economic development resource for deserving entrepreneurial women to create and grow a sustainable business,” said Suzan Deison, CEO/President/Founder, GHWCC.

PurePoint Financial, a hybrid digital bank and a division of MUFG Union Bank, N.A. has contributed a seed grant of $10,000, earmarked for women-owned small businesses. As the money is lent and repaid, the initial $10,000 will revolve in perpetuity helping multiple women-owned businesses over time.

“Small businesses are the economic engines that propel our communities forward. That’s why at PurePoint Financial we are proud to support this newly-formed fund which will empower more women in the Houston area to reach their dreams of launching a business,” said PurePoint Financial Center Manager, Shannon Mosher.

According to the last census, women business owners represent 40 percent of all small businesses in Houston, making a significant contribution to our local economy. However, the gender gap in equity financing is very prevalent at the local and national level. The National Women’s Business Council reported that only 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, hindering their ability to launch and grow.

“At LiftFund, 70 percent of the female entrepreneurs we serve are startups and companies with less than five years in business,” said Jennifer Dale, LiftFund’s Vice President of Lending for Houston and the East Texas Region. “The GHWCC LAUNCH Fund will allow us to further our commitment to remove barriers for deserving women entrepreneurs, so they can reach economic prosperity through entrepreneurship.”

To learn about the GHWCC LAUNCH Fund, and join the movement by becoming a donor and ambassador, please email us: info@ghwcc.org

GHWCC

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