A national poll conducted by the National Association of Women Business Owners (NAWBO) provides a concerning light on how women business owners and entrepreneurs are faring during the COVID-19 pandemic.
Members of the organization who applied for a Paycheck Protection Program (PPP) Loan, an Economic Injury Disaster Loan (EIDL), or an Emergency EIDL grant as of April 21st were polled with the following findings:
- 51% of applicants had not received the PPP Loan,
- 93% of applicants have not received the EIDL Loan, and
- 78% of applicants have not received the Emergency EIDL grant.
Upon seeing the poll results, Jeanette Armbrust, Chair of the NAWBO National Board, offered this somber assessment, stating, “A third of our members surveyed said that in a month or less, their businesses would fail without financial assistance. We are urging the U.S. House of Representatives to swiftly pass the help that small businesses so desperately need.”
Women business owners and entrepreneurs represent the fastest growing economic sector in the country pre-COVID-19, employing 9.4 million and generating $1.6 trillion in revenue. Yet they struggle to have critical access to capital as outlined in Diana International Impact Report.
