The Main Point…
Everyone is focusing on women during March. March is Women’s History Month, a month where the world celebrates the many remarkable accomplishments of the women in our lives, despite historical and current inequities that challenge women every day. At Thread Capital we don’t just celebrate women in March, but every day, as they are central to our mission.
“Female entrepreneurs have traditionally had challenges accessing the resources needed to launch or grow their business,” said Thread Capital Executive Director Jonathan Brereton. “That’s why we made an intentional decision to include women in our mission.”
The Women of Thread Capital – Part One
From Abby, a pet groomer in Carteret County to Yacara, a childcare center owner in Mecklenburg County, 37% of Thread’s loans have been to women business owners. These loans, totaling 23 million dollars, made a significant impact in supporting local economies across North Carolina.
“I really enjoy seeing the success of my clients and the changes they are able to make in their communities,” says Director of Lending JaLisha Richmond. “From trucking to healthcare or salons to catering, we help women in whatever industry they have chosen.”
Serving and celebrating these crucial female entrepreneurs comes naturally to us. Two-thirds of our staff are women, two of our primary contractors are women-owned businesses, and two women sit on our board of directors.
“I joined the Thread board last year because their work of getting much-needed capital in the hands of small businesses owned by BIPOC folks, women, people from low-wealth and rural backgrounds is so important–particularly in this moment as we move through the ongoing pandemic,” said Brittany Bennet Weston, Executive Director of ResilNC and Thread Capital Board Member. “I was led by my professional experience, and even more so, by my personal experience watching my mother and grandmother run a business. I know just how hard running a small business is and what a difference access to the right capital, coaching, and connections can make.”
According to the Office of the Secretary of State of North Carolina, 53 percent of the 127,000 new businesses formed in 2020 were women-owned. Thread hopes that trend continues and we want to be there for these entrepreneurs. If you are one of them – or know a woman interested in starting or expanding their business – reach out to email@example.com and speak with a Loan Associate today, and be sure to check back for Part Two of this series next week as we highlight the remarkable women on Thread Capital’s staff.