We analyzed the gender credit gap and the results are unfolding
Contents
We analyzed the gender credit gap and the results are unfolding
What if the Financial System was Fair for Women?
In the United States, women own 11.6 million won businesses, employing millions of people and generating $1.7 trillion in revenue annually. Women entrepreneurs and their businesses grow significantly in influence and sales year after year.
Today, however, there is still a significant gap between men and women’s access to credit and capital to grow their businesses.
History shows that women business owners have faced greater obstacles (than men) in their quest to gain business credit and secure investments. These obstacles exist because of systemic and individual discrimination, both of which are the legacy of legal discrimination Women have been fighting for decades.
Download WHAT IF: Gender Credit Gap Report
Download the free research report to find out how credit disparity by gender affects your business.
Why is there still a gender credit gap?
Inequalities in the financial landscape today persist and are often exacerbated by financial institutions in their methods of determining creditworthiness. We are not saying that all individuals working in credit or finance are sexist – but we are saying that the way credit is defined often creates a legacy of inequality, which causes harm women when they seek business credit.
In our report, What if: Design fair and equal access to finance for women, we delve into the topic of credit to women in three parts:
- First, we look at the specific challenges women face in the workplace and when starting a business.
- Second, we question whether and how the current financial system treats female entrepreneurs differently than men. We also discuss how generic methodologies for understanding creditworthiness can undermine women’s business success.
- Third, we look at recent technological innovations such as artificial intelligence and machine learning, and discuss how modern financial firms can use these tools to eliminate bias. out of the industry.
Fair and equal access to business credit won’t just happen “one day”. Women should have an equal opportunity to fund their businesses, contribute to our economy and fulfill their dreams, today.
