Click here to join the Access to Capital Committee
WIPP's legislative strategy is to have the greatest possible impact for small business owners. We focus on our economic principles and craft a succinct small business message that we bring directly to members of Congress, the White House and Federal Agencies. Your guidance and advocacy efforts together with political reality allows us to move our agenda forward effectively.
Access to Capital Principles:
Access to capital
is a key tool in the start-up and growth of successful women-owned businesses. According
to WIPP's 2012 National Survey of Women Business Owners, women-owned businesses
continue to struggle to access capital, making an average of two attempts to obtain
bank loans or lines of credit. Only 59% of WIPP members who sought outside funding
last year were successful after two attempts. Those who were not successful in their
attempts to get outside funding overwhelmingly identified tightening of credit at
banks as the reason. For WIPP members, the majority (60%) of the funding realized
in the past year was secured by home equity or other collateral. About one in seven
received bank financing backed by the Small Business Administration.
1) Provide Incentives to Investors &
Lenders to Small Businesses
At a time when
private market lending to small businesses is low, WIPP is encouraged by SBA's guaranteed
loan progress, which hit a record high in 2011. While the need for capital continues
to be a top priority for WIPP members, we applaud the passage of legislation paving
the way for alternatives to the traditional sources of capital, such as crowdfunding.
We encourage the Security and Exchange Commission to finalize the regulatory requirements
necessary to put crowdfunding in place.
We urge Congress
to explore ways to incentivize lenders other than banks to invest in small businesses.
Providing tax incentives to angel investors, for example, would stimulate an important
source of capital. In addition, we believe Congress should lift restrictions on
credit union lending to small businesses.
2) Increase Government Business Assistance
that need infusions of capital in order to grow would benefit from increased business
assistance supported by the federal government. Counseling and business assistance
provide small business owners with a better understanding of equity positions, potential
equity partners, and terms and conditions commonly required by investors and lenders.
Women are at a much higher risk than men of facing economic uncertainty in retirement and, on average, they'll enter retirement with considerably less savings than men. Women face unique and difficult challenges to achieving a financially secure retirement. These challenges stem from increased longevity, varied work patterns, less income, and lower earnings.
These challenges put women in a more vulnerable position in retirement than any other population. As such, a central challenge for policymakers is the need to develop and encourage retirement options that make streams of steady, lifetime income more accessible to Americans. It is also important to ensure these opportunities reach the populations, particularly women, that have the least access to employer based retirement programs, or get the least from these and Social Security.
Click here to read WIPP's Congressional Testimony on Retirement Security for Women.
The following is a list of legislation that WIPP is actively following:
- Small Business Lending Enhancement Act S. 681
- Provide Greater Accountability in the Small Business Lending Fund S. 753
- Early Stage Business Investment and Incubation Act S. 2190
- Capital Raising Online While Deterring Fraud and Unethical Non-Disclosure Act HR 2930
- the Entrepreneurs Access to Capital Act HR 3007
- Give Credit to Main Street Act HR 3571
- Entrepreneur Start-Up Growth Act HR 3606
- Jumpstart Our Business Startups (JOBS) Act
- The Credit Union Small Business Jobs Creation Act
ACCESS TO CAPITAL NEWS & POLICY UPDATES
Statement of Administration Policy and Middle-Class Tax Cuts' Impact on Women & Families - 12/20/12
CrowdCheck to Convene Washington DC's First Crowdfunding Conference on May 14th - 5/7/12.
FAQs About Small Business Finance - 4/27/12.
Women's Access to Capital - 4/19/2012.
Drilling Down: What Small Businesses Should Know About Crowdfunding - 4/10/12.
Small Firm Loans Lagged in the US - 4/9/12.
Obama and Cantor are all smiles as JOBS Act is signed into law - 4/5/2012
House Passes Jobs Bill Making it Easier for Small Firms to Raise Money - 3/8/12.
Small Business Credit Cards: Know the Ropes - 2/19/12.How to Get an SBA Loan - 1/10/12.
Community Banks Team Up to Fight the Megabanks - 2/17/12.
Small Business Q&A: Can an IRA Fund a Start-Up? - 2/13/12.
Small Business Lending Rises in January - 2/9/12.
Top Sources of Small Business Financing in 2012 - 1/3/12.
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