Published July 2003

SBA Women’s Programs offer tools
to start, expand business

By Michèle Liebes and Carol Andersen
Guest Columnists

Women-owned businesses have been growing at an extraordinary rate since the mid-1990s. The Seattle-Bellevue-Everett corridor is at the forefront of this trend.

According to the Center for Women’s Business Research, in 2002, privately held women-owned businesses accounted for 33 percent of all privately held firms in the Puget Sound. This included an estimated 71,411 firms employing nearly 96,000 people and generating more than $12.8 billion in sales.

The center estimates that between 1997 and 2002 the number of women-owned firms in the area increased by 56 percent — three times the growth rate of all employer firms in the metropolitan area (19 percent)— employment grew by 42 percent and sales increased by 54 percent.

The U.S. Small Business Administration is at the vanguard of organizations helping women entrepreneurs succeed in a competitive marketplace, starting its Women’s Programs in 1987, a program that has grown over the years as more women take advantage of what it offers.

For example, the enthusiasm of the women at our Women’s Network for Entrepreneurial Training (WNET) roundtables is infectious, and the local WNET series is informal and offers business owners a venue to network, share their experiences and receive training.

Sponsored by the SBA, WNET provides a comprehensive series of Women’s Breakfast Roundtables. The program has grown from its initial series in Seattle to locations in Bellevue, Everett, Bremerton and Tacoma. In 2002, 1,021 people attended 35 roundtables in five locations. Men are welcome to attend.

The Everett WNET series is held at the Northwest Women’s Business Center in Everett. The center opened in July 2001 and is part of Community Capital Development, a nonprofit community development financial institution. It is one of a national network of almost 100 women’s business centers throughout the country that are funded by SBA.

Jamie Curtismith is director of the Northwest Women’s Business Center, which is co-located with the Snohomish County Economic Development Center at 728 134th St. SW, Suite 219. The center also offers counseling and program services in Snohomish, Skagit, Whatcom, Island, San Juan and Kitsap counties. Through its affiliation with Community Capital Development, the center has access to several loan funds.

SBA loan programs are available to qualified borrowers, including women. SBA helps small businesses obtain the credit they need by giving the government’s guaranty to loans made by commercial lenders. SBA’s major loan programs are the 7(a) and 504 loan programs.

The 7(a) guaranteed loan program is SBA’s primary lending program. Borrowers apply for the loan at the bank, and payments are paid to the bank. SBA “guarantees” the loan by promising to repay up to 85 percent of any loss in cause of default. Most commercial banks in the state participate in this program.

In fiscal year 2002, the SBA backed 11,280 7(a) and 504 loans — totaling $2.3 billion — to women-owned businesses. This was up from fiscal year 2001, when the SBA backed 9,967 loans worth $2 billion to women entrepreneurs. So far in fiscal year 2003 (October 2002 through March 2003), the number of SBA loans to women-owned businesses has increased 36 percent over the same period in FY 2002, from 4,179 to 5,687.

To learn more about the SBA’s programs for small businesses, call the Seattle District Office at 206-553-7310 or visit its Web site, www.sba.gov/wa/seattle.

Michèle Liebes is the public information officer and Carol Andersen is the manager for Women’s Programs for the Seattle District Office of the U.S. Small Business Administration.

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