Banking on equality: The journey to build first women’s bank

First Women's Bank was founded in 2019 to address the gender lending gap where women receive a disproportionately small percentage of commercial loans. Women-owned businesses are a significant economic force, yet they struggle to access capital at the same rate as men. The bank aims to connect women with appropriate financing options, as they often rely on personal credit or prematurely turn to equity financing. Studies reveal women retain less equity compared to men, hindering their long-term financial success. The bank focuses on early engagement, offering education and strategic guidance to empower women in their financial decisions. Raising nearly $40 million, First Women’s Bank launched in 2021 with a mission to boost the economy by supporting women. Corporate mission partnerships and a Strategic Advisory Board help amplify the bank's reach and impact. Addressing the gender lending gap requires improved access, education, and strategic partnerships. The CEO emphasizes the importance of empowering women to achieve their full potential, benefiting communities and the broader economy.