But there's no law against making women feel more at ease with the lending process. And that's what many banks are doing, blitzing potential customers with information and setting internal lending targets. FleetBoston Financial has set a similar goal. Bear in mind that lending targets are goals, not promises. Women entrepreneurs still need to meet rigorous credit qualifications to get a loan, cautions Julie Cripes, president of Omnibank in Houston.
All banks are in the risk-mitigation business.
That explains why many banks are targeting women entrepreneurs with educational offerings and networking opportunities, to help them get profitable before they actually apply for a loan. For women, it can become a big emotional block as well as a practical one. To help them get credit-ready, many banks, including Chase Manhattan and Omnibank, direct women entrepreneurs to community and private resources such as the Small Business Administration's Small Business Development Centers and the Service Corps of Retired Executives. The bright side is that today, gender is far from your biggest concern when it comes to finding capital. But gender won't help you much either, especially if your business fundamentals aren't in place.