Stearns Bank and AWBC Partnership
Financial Advocacy & Action for Women-Owned Businesses
Dear Association of Women’s Business Centers,
First, I want to wholeheartedly thank the Association of Women’s Business Centers (AWBC) for inviting Stearns Bank to present and attend the 2024 Leadership Conference in Kansas City, MO. It was an honor to share the stage with AWBC President Corrine Goble, a true visionary leveling the playing field for women business leaders and emerging entrepreneurs. What a powerhouse! I also want to personally thank all the WBC leaders present for inspiring me with your determination, strong leadership, and continuous innovation in guiding entrepreneurs, growing women businesses, and expanding economic opportunities for all.
A key takeaway for me after meeting with many of you is that the future is blindingly bright for aspiring entrepreneurs and women businesses. They are on the verge of explosive growth if we can simply partner effectively to optimize resources available for your nationwide network of WBCs, powered by the ambitious and bold vision of AWBC’s board and leadership who are actively forging strong partnerships with like-minded, mission-driven partners, like Stearns Bank.
What’s also abundantly clear is that it’s essential for emerging entrepreneurs and women businesses to partner with the right bank when they launch and as they mature to achieve long-term financial success. All businesses—regardless of size, whether a solopreneur, mom-and-pop, or large company, and regardless of geographic location, industry, mobile/online or physical operations, for-profit or nonprofit status, or a start-up or maturing business–need and deserve a good, healthy relationship with the right bank for that business. The right banking partner will provide a full range of affordable and flexible banking and financing services, including high-yield/no-low fee deposit services, customized to meet the business owner’s unique and immediate needs and future profitability goals.
While at the AWBC conference, a WBC director told Stearns Bank about a women-owned bakery business who was on the verge of signing a high-priced lease for equipment she needed to expand operations. The business owner was told by her local bank that an SBA loan would take three months, which for her was too long to wait. Putting our money where our mouth is, within three short hours, Stearns Bank approved her for $100,000 SBA loan. By banking with us, she will have access to an array of benefits, from her interest earning deposit account to low-cost merchant services, which will help her business thrive. Our speed and customized solutions are what business owners need and deserve.
This bakery owner’s story is just one of the many women business stories shared and referred to us by WBCs since the conference. We know there’s more work to be done to give women more equal footing and access to the full range of affordable, fair financial services. At Stearns Bank, we are all in!
We are proud to join forces with AWBC to answer the call to curb the childcare crisis in America through a groundbreaking partnership that will deploy $1.5 million in grants and expand access to financing and vital banking services to startup and expanding childcare operators. We need your help, as WBC leaders, to deliver our new Childcare Grant and Financing Program to childcare providers across the nation. We share one simple goal: to increase the number of new and expanding childcare providers by providing financial services and to make quality childcare more accessible while supporting the dedicated professionals who play a crucial role in early childhood development.
Along with our new Childcare Grant and Finance Program, we also pledge to AWBC and all WBCs to provide access to at least $300 million in financing along with the vital banking services for nonprofits and for-profit businesses referred by any WBC. This collaboration will maximize your contributions to communities across the country, help more business owners achieve their greatest ambitions, and expand economic empowerment for all.
We have already started reaching out to those WBCs and businesses we connected with at the conference, and we will continue to have one-on-one calls with all those we met. You and your business owners can contact us directly using the contact form on this page. We will follow up immediately with anyone who submits the contact form, so feel free to use if for your WBC or share it with businesses in your network.
We are thrilled about our strategic partnership with AWBC and know that together, we can make a measurable, meaningful impact to empower business growth and financial independence, creating a world where every individual can succeed.
Best,
Kelly Skalicky
President & CEO
Stearns Bank N.A.