Women Celebrate 30-Year-Old Law Lifting Business Loan Restrictions

Women may have won the right to vote in 1920, but it wasn’t until 1988 that they finally obtained the ability to start and expand their own business. This year, many women are celebrating the passage of a 30-year-old federal law that lifted the inability to secure their own funding.

In 1988, President Ronald Reagan signed the Women’s Business Ownership Act, or H.R. 5050, into law. This piece of legislation came about from the efforts of NAWBO members and other women business owners “who saw disparities and inequities with regards to loans, access to loans and being able to achieve a loan without having a male co-signer, even a minor son,” explains Quist-Newins, a NAWBO-MN past president and president and founder of financial planning company Moneyweave.

Of the many women who pushed for the change, the list includes Minnesota chapter founder Marlene Johnson, a former state lieutenant governor. Quist-Newins says that, despite the law’s passage, many women business owners still face hurdles in seeking capital. Just 14 percent of U.S. Small Business Administration Loans were given to women-owned businesses; this represents only 4 percent of the total money lent.

“Access to capital still remains a barrier,” Quist-Newins said, noting that women are majority owners of 10 million to 13 million U.S. businesses.

And how is the NAWBO-MN responding to the challenges women face today? For now, the group is focused on working women business owners who are in the growth and expansion state. A big goal is to attract more owners whose companies have yearly gross revenue of more than $1 million.

NAWBO members “help each other whether it’s doing business with one another, bringing each other into our clients’ organizations or just being there as a sounding board,” says Nutting, the current president of NAWBO-MN.

Women Celebrate 30-Year-Old Law Lifting Business Loan Restrictions

In the meantime, many women business owners have found the capital they need to start, grow and expand their company through cash advances. This alternative cash solution provides capital quickly, offers flexible repayment and is easy to be approved for. Women-owned business can secure cash in as little as 24 hours.

While great steps have been taken to improve funding for women-owned companies, there are definitely more steps that need to be taken to improve access to funding and the overall experience.

Author Bio: As the FAM account executive, Michael Hollis has funded millions by using cash advances solutions. His experience and extensive knowledge of the industry has made him finance expert at First American Merchant.

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Tips for Staying Safe on Today’s Hectic Roadways

With so many vehicles sharing the road, there’s bound to be some accidents. However, fine-tuning your driving skills will help you to avoid danger. Here are five important safety tips for drivers.

Tips for Staying Safe on Today’s Hectic Roadways

Learn to Enjoy Life in the Slow Lane

If you want to drastically lower your chances of being involved in a crash, drive no faster than the posted speed limit. According to a car accident lawyer in St. Petersburg Florida, speeding is among the top causes of collisions. Instead of rushing on your everyday commute, leave home earlier and enjoy the perks of driving in the slow lane. When traveling at a safe speed, you’ll have more time to react to road hazards.

Take Advantage of Modern Safety Technologies

Today’s newer vehicles now offer a number of cutting-edge driving aids. They promise to make your life on the road a lot more secure. While blind-spot monitoring helps you to switch lanes with more confidence, forward collision warning seeks to get your attention during emergency situations. Your level of awareness will be greatly enhanced.

Make Driving Your Main Focus

When behind the wheel of a car, be sure your focus remains on the road ahead. You need to keep an eye on your surroundings at all times. Don’t try to perform other tasks while you’re driving. Of course, cell phone use is an absolute no-no. To reduce your temptation to text and drive, install an app that shuts off your phone’s messaging while your vehicle is in motion. You’ll be able to read your texts once you’ve stopped.

Keep Your Energy Up

Energized drivers have a higher level of alertness. To ensure you stay sharp while on the road, be sure to get plenty of rest at night. Hunger can also lead to fatigue, so keep a snack on standby.

While the roadways are filled with traffic, you can stay safe by practicing good driving habits. Nothing beats having an extra peace of mind.…

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