Bank of Blue Valley Commits $100,000 to Support KC Microlender Women's Business Center
Aug 09, 2019
The Women’s Business Center is excited to announce that Bank of Blue Valley has committed $100,000 to support our WE-Lend microloan program. Bank of Blue Valley will purchase loans and provide additional operational support to the WBC. The $100,000 will allow the WBC to make new loans to entrepreneurs ranging in in size from $2,500-$25,000 and continue to support our existing portfolio.
“Our community owes a debt of gratitude to Bob Regnier and Wendy Reynolds. We have been working to develop a new way of working with local banks and Bank of Blue Valley has once again taken the lead. This community initiative will have real implications for non-profit microlenders in our region and potentially across the country. Small business have challenges with access to capital and together we are moving the needle in a positive direction for the non-bankable” – Sherry Turner, Founder of OneKC for Women.
The partnership was made possible in part by the foresight of the Ewing Marion Kauffman Foundation and REVOLVE. In an effort to establish a secondary market for microloans in Kansas City, the Kauffman Foundation invested $1.2 million into KC in 2017 with the WBC, AltCap, Hispanic Economic Development Corporation and Justine Petersen. REVOLVE, a capacity building consulting firm, facilitated the relationship between the banks and the local KC microlenders. Collaboration between these partners and Bank of Blue Valley begins a new era in Kansas City community development.
For the full press release announcement, visit the Women’s Business Center.