WWBIC: The Business of Entreprenuership
Since 1987 The Wisconsin Women’s Business Initiative Corporation (WWBIC) continues to support individuals in “Putting Dreams to Work.”
WWBIC has had a longstanding partnership with the Near West Side Partners in advancing bold social goals of job creation; new, expanded and strengthened businesses; increased individual income; increased personal and business assets; and higher credit scores.
In 2018 WWBIC’s statewide Impact:
· 26,755 counseling and training hours to
· 5,119 clients
· $7.5 million in loans closed to 131 small business borrowers
· 1,429 businesses started, strengthened or expanded
· 3,837 jobs created or retained
In Milwaukee 875 of WWBIC clients are minority. To date WWBIC has lent more than $67 million collectively to entrepreneurs and business owners in Milwaukee and Wisconsin and currently holds over 800 active loans totaling over $20 million in the loan portfolio.
Almost four years ago WWBIC, along with the City of Milwaukee, launched Kiva Microfunds, an online crowdfunded loan fund that provides small business loans up to $10,000 at 0% (Zero %) interest.
Since launching Kiva Milwaukee has lent over $1.2 million statewide to over 200 borrowers – 37% African American, 12% Hispanic and 66% women. Approximately $800,000 was lent to entrepreneurs in the City of Milwaukee alone. From general services to the food industry, retail and agriculture these 0% interest loans go up to $10,000.
