The US has 12.3 million women-owned businesses. A recent American Express study shows that, as of 2019, women-owned small businesses make up 49 percent of all businesses. According to womenable.com 2016 report, since 2007, the number of women-owned firms has grown five times faster than the national average.

And of those businesses, 64% of new women-owned businesses were started by women of color in 2022. Additionally, Latina women-owned businesses grew more than 87% in the same year. On top of that, 50 percent of all women-owned businesses are minority-owned.

But, when it comes to lending, loans to women make up about 4 percent of all commercial loan dollars. A 2020 survey found that women are nearly 18 percent less likely to have their loan applications approved than men. And, when the loans are approved, they are on average about $5,000 less than for men at an average loan size of $43,916 for men compared to $38,942 average loan size for women. SBA data from August 2019 shows that only 28% of SBA loans, equaling more than $5.8 billion, went to women-owned businesses.

If we dig even deeper, minority-led businesses, from a Federal Reserve’s Small Business Credit Survey 2021 Report on Firms Owned by People of Color, showed that even among firms with good credit scores, Black-owned firms were half as likely as white-owned firms to receive all of the financing they sought at 24% versus 48% of borrowers.

Just having an account at a bank isn’t a relationship with a bank. Most larger financial institutions do not place time, resources, or effort to provide actual, meaningful support to small businesses. While there are tools within the marketplace that provide valuable benchmarking data and strategic financial analysis, they are usually out of reach for most small businesses due to size requirements and costs.

For Integro Bank, focusing on small businesses isn't just a talking point. The entire system in place at Integro Bank provides the support needed to small business owners no matter what stage they are at. From startups, to those under 100 employees, to advanced small businesses with 1,500 employees, Integro Bank has the tools, products, and services that are developed to make small businesses grow.

With the implementation of the Integro360SM platform, a unique tool typically only available to large corporations due to costs that range in excess of $50,000, small businesses have access to the data and strategic value that can help their businesses grow. Integro Bank has developed the platform to make it accessible to all of our customers. 

  • Peer Analysis
    INTEGRO360SM provides business owners peer-related competitive insights on how they stack up with similar businesses compiled from the extensive Integro Bank data warehouse.
  • Company Tailored Analysis
    The INTEGRO360SM process uses company-provided data to produce custom-tailored analysis for the client.

    The INTEGRO360SM analysis provides a valuation estimate for the client's company using a discounted cash flow valuation, as well as feedback and scoring on how the client stacks up to others within their industry through key metrics.
  • Ongoing Analysis
    As the relationship between Integro and a client progresses, the insights and analysis INTEGRO360SM is able to provide also grows. With deeper history and company data provided over the lifespan of the client provides the platform with the capacity to output more extensive analysis that grows as the company grows.

Integro Bank, we're changing how small business banking is being done.

 

Sources:

https://www.bankrate.com/loans/small-business/funding-for-women-entrepreneurs

https://www.fedsmallbusiness.org/survey/2021/report-on-employer-firms

http://www.womenable.com/content/userfiles/2016_State_of_Women-Owned_Businesses_Executive_Report.pdf