ROCK ISLAND, Ill. — Editor's Note: Video was taken in 2016 of a bakery who received a loan from the Royal Neighbors of America.
Women are becoming a driving force in America's economy. According to the US Census Bureau there's a total of 5.8 million active businesses around the country, with 1.2 million of those businesses being owned and operated by women in 2020.
Broken down even further by a 2023 Pew Research Center article, women are less likely than men to say they are satisfied with their jobs (52% of men to 46% of women) when it comes to employment benefits.
Here in the Quad Cities, there are about 499,700 female entrepreneurs between Iowa and Illinois in 2016, and while that number is getting larger, some find getting off the ground isn't so easy.
"Women-founded businesses are funded at much lower rates than male-founded businesses. Lift Women's Foundation is doing its part to change this and set more women on the path to having successful, sustainable businesses," Reshonda Young, Bank of Jabez's co-founder, said.
This is where the Lift Women's Foundation steps in. The nonprofit, established by the Royal Neighbors of America back in 2002, provides what they call "financial equity for women" by offering microloans to those seeking to start a new business.
This week, the Lift Women's Foundation will be holding its first Island Nights Fundraiser and Soiree, to help provide loans for women looking to get a business started.
"Our goal is to uplift women's economic status by investing capital and expertise to inspire financial independence," Lift's executive director Marcie Ordaz said.
Businesses like Bayside Bistro and Urbinas Creations have been a part of Lift Women's microloans, helping them get their companies off the ground.
"I started this business in 2021 after an accident with one of my children," company owner Maria Urbina said. "I came from a family of people who make and sell things, so I started with what I know how to do. That's how I started my business."
With the loan provided by Lift Women's Foundation, Urbina was able to expand her business from crocheted items to vinyl shirts and sublimation crafts, which have been a major success for her business.
The Soiree is scheduled on July 29 at the Stern Center in Rock Island. Doors open at 5:30 p.m.
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