The Wisconsin Women’s Business Initiative Corp. (WWBIC) announced research findings that show a $22 impact on economic activity for every $1 the organization invested. The findings come from three professional teams that researched the impact that WWBIC has had on their clients and the communities they represent across Wisconsin. The summary was presented on March 8, in celebration of International Women’s Day.
WWBIC is a leading statewide innovative economic development organization that was incorporated in 1987 during the women’s economic empowerment movement as well as the micro-lending movement. WWBIC’s primary focus is on women, people of color, lower-wealth individuals, and veterans and military-connected families. They provide direct lending and access to fair and responsible capital, quality business training, one-on-one technical business assistance, and coaching to increase financial wellness. Other key findings include:
- 70% of the borrowers who came to WWBIC with subprime credit scores (less than 650) witnessed an improvement in their credit score after receiving a WWBIC loan;
- 69% of WWBIC-supported borrowers remain in business after five years compared to 50% nationally and 52% in Wisconsin;
- Since 1987, borrowers have directly created or retained the jobs of 2,593 employees; and
- WWBIC loans are directly and indirectly generating more than $274 million in annual economic activity.
