Empowering Women Entrepreneurs Through Financial Literacy
At the March chapter luncheon, members had the privilege of gaining invaluable insights into the world of business banking through the presentation titled “Be Bold Be Bankable,” led by Desiree Early, Evelyn Solorzano, and Shawn Cross from Bank of America. This presentation from Bank of America couldn’t have been more timely, given NAWBO’s current advocacy agenda focused on increasing access to capital through enhanced financial literacy education.
Access to capital is crucial for the growth and success of women-owned businesses, and having a better understanding of the banking process can significantly alleviate anxiety for women business owners. The presentation provided attendees with a comprehensive overview of the various ways Bank of America supports women and women in business, extending beyond their banking products.
One of the highlights of the presentation was the discussion around what bankers are looking for from business owners, particularly regarding business plans. Understanding the expectations and criteria set by bankers is essential for preparing successful loan applications and securing financing for business ventures.
Moreover, attendees had the opportunity to delve into the six C’s of credit and learn about Bank of America’s eight steps to becoming bankable. These insights offered valuable guidance on how women entrepreneurs can position themselves favorably when seeking financing for their businesses.
Perhaps one of the most crucial takeaways from the presentation was the emphasis on building relationships with bankers. Getting to know your banker on a personal level can greatly enhance the likelihood of securing financing and accessing other financial services tailored to your business needs.
Overall, the collaboration between NAWBO DFW and Bank of America exemplifies a shared commitment to empowering women entrepreneurs through financial education and support. By equipping women business owners with the knowledge and resources they need to navigate the banking landscape confidently, we can pave the way for greater success and prosperity in the business world.
