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Wednesday, December 20, 2017

This Woman Supports Women Entrepreneurs With $1 Billion In Interest-Free Loans

This Woman Supports Women Entrepreneurs With $1 Billion In Interest-Free Loans
Vicki Saunders knows how tough it is to get funding when you are a female entrepreneur; she is also an entrepreneur. In 2015, she launched a Toronto-based non-profit, SheEO, aimed at funding women entrepreneurs. Her goal is to raise $1 billion and offer interest-free loans to women entrepreneurs.

As an entrepreneur, Saunders, 53, saw that less than 4 percent of venture capital goes to women, and less than 1 percent of corporate procurement goes to women-owned companies. She wanted to create an environment where women are investing money to help other women. Her idea is to develop a community of at least 500 women to invest into a shared fund that would offer interest-free loans to women entrepreneurs.

How to get funding from SheEO

Businesses that are eligible to apply for a loan must be 51 percent women-owned and women-led with a female CEO. The business must also have at least $50,000 in revenue to apply. Each applicant must also be able to address how they are creating a better world with their business. The 500 women investors at SheEO also serve as an online community for advice and other support.

So far, SheEO has made loans to 32 companies in Canada, the U.S., and five in New Zealand. The goal is to get to 1 million women and $1 billion in funding which Saunders believes will occur by 2026.

Learn more about interest-free lending from SheEO by visiting sheeo.world/


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