Cantwell targets small business loan gender gap

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  • Elizabeth G Vancouver, WA
    Aug. 29, 2014 2:46 p.m.

    There seems to be some disbelief that women have difficulty getting loans. When the article stated that 33% of businesses are owned by women, but only 4.4% of small business loans are to businesses owned by women. Cantwell's point is the large discrepancy between these obvious numbers.

    She then explained her point of 2 reasons for that.

    1st products designed by women are going to solve problems faced by women and may not appeal to a male loan officer. A male loan officer may be unable to see the profitability of a product marketed to women.

    2nd reason, the loan products available don't appeal to women business owners.

    I personally think it makes perfect sense. Financial lending needs to change to meet the needs of the whole population not just white men.

  • toosmartforyou Farmington, UT
    Aug. 27, 2014 11:52 p.m.

    Why in the world would you make loans based upon gender? You might as well make them on the height or weight of someone. Sounds to me like the lady needs to learn a bit about economics herself. Qualified businesses will and should get priority, not whether or not a person is plumbed a certain way at birth.

  • DN Subscriber Cottonwood Heights, UT
    Aug. 27, 2014 10:45 p.m.

    Loans should be based on the ability of the borrower to repay them, not as a matter of social engineering, unless Cantwell wants to loan her money out to risky businesses.

    Congress demanded that banks make loans for houses to people who could not afford them, and we all know how that turned out.

    Congress cannot even balance thgeir own budget or pay off a nickel of our $17.5 trillion in debts, so they have absolutely no credibility to tell any private business how to handle their money!

  • lost in DC West Jordan, UT
    Aug. 27, 2014 10:40 a.m.

    many women owned businesses are owned 50.1% by the wife and 49.9% by the husband who actually runs the place.

    lenders are in business to make money. they are not going to turn down a credit worthy loan just because the business is owned by a woman (even if only titularly) and stay in business for very long.

    she doesn't think it has a good chance of getting through congress this year - maybe she should talk to harry reid about allowing votes on bills??