Independent Banker - November 2019 - 58

wasn't just making a loan; she was building friendships
and giving back to the community. " It is such a rewarding
experience, " she says.
In the past 50 years, the business landscape has shifted
dramatically and reflects the general population much
more closely. The 2018 State of Women-Owned Businesses
Report, commissioned by American Express, reveals that
there are now 12.3 million women-owned businesses in the
U.S., accounting for 40% of businesses-and roughly 1,800
more are being added each day. That's more than 3,000%
more women-owned businesses than there were back in
1972, when the U.S. Census Bureau began surveying for
such data.
And the general business case for lending to these firms
is clear. Women-owned businesses employ 9.2 million
people and generate $1.8 trillion in annual revenue.
But what can community banks do to help foster this
growing demographic of business leaders? The American
Express report suggests a number of ways to not only
increase the number of women becoming entrepreneurs,
but increase their chances of success, too.
" Support can take the form of training that addresses
both hard and soft skills, networking events, mentorship,
access to markets (such as through women-owned
certification programs) and access to finance, " the report
authors write. " Support should also take the form of
policies, such as affordable child care and increased access
to capital. "
Opportunities to aid entrepreneurs
There are several ways community banks are helping to
mentor women entrepreneurs. Some of this occurs via oneon-one
interaction, in groups or even outside of the bank.
Horner has opportunities to mentor women
entrepreneurs directly at Summit Bank in her role as
SBA program administrator. In fact, the SBA lending
department is made up of four women and two men.
" We do a lot of loans to majority female-owned
" Having a female lender on the other side
of the table makes it more personal and
approachable for them. It also allows more
of a relationship to develop between us. "
-Ashley Horner, Summit Bank
58 Q ICBA Independent Banker Q November 2019
businesses, " she says. " Having a female lender on the other
side of the table makes it more personal and approachable
for them. It also allows more of a relationship to develop
between us. "
In fact, Horner is so passionate about her job that
she has helped Summit Bank become the No. 1 SBA
community bank lender in Oregon, and more than half of
these loans are being made to women-owned businesses.
" This is somewhat unusual for SBA financing, " she says.
The program is growing. " We are not only making loans
to new businesses, but also to women who are wanting to
expand their existing businesses, as well as women who are
purchasing businesses where they worked themselves for
years, " she says.
Passing on business best practices
In Hanover, N.H., $500 million-asset Ledyard National
Bank offers an education and networking program called
Leading Women: Empowering Women in Business. It is
available to all of the bank's women-owned and -managed
businesses, as well as some who are not bank clients.
The community bank designed the program as a forum
for women to share success stories. Throughout the
events, participants learn about online marketing, human
Independent Banker - November 2019

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