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1
SENATE RESOLUTION

 
2    WHEREAS, The members of the Illinois State Senate wish to
3recognize the First Women's Bank during Women's History Month
4for their advocacy for women and dedication to supporting
5women and minority-owned business; and
 
6    WHEREAS, Women's History Month provides a powerful
7opportunity to elevate women entrepreneurs and the role of
8women in the economy; and
 
9    WHEREAS, Women have been and continue to be leaders in the
10forefront of business and other fields and now represent
11approximately half of the workforce of the United States; and
 
12    WHEREAS, Women were not given the right to obtain credit
13cards until the 1970s, and they have routinely faced
14difficulties securing commercial financing, creating a
15significant gender gap in lending and setting women
16entrepreneurs behind; and
 
17    WHEREAS, Women receive just 16% of all conventional
18business loans and just 4.4% of the total dollar amount,
19limiting their businesses from reaching their full potential;
20and
 

 

 

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1    WHEREAS, The First Women's Bank, established in 2021,
2became the first financial institution formed in the country
3with a mission to close the gender gap in lending and grow
4commercial financing options for women-owned and women-led
5businesses; and
 
6    WHEREAS, Holding deposits at First Women's Bank realizes
7significant social capital and contributes to growing the
8women's economy, allowing clients to leverage their cash for
9realized impact; and
 
10    WHEREAS, Building the First Women's Bank's deposit base is
11critical to its ability to fund loans to women and
12minority-owned businesses, which is core to its mission;
13therefore, be it
 
14    RESOLVED, BY THE SENATE OF THE ONE HUNDRED THIRD GENERAL
15ASSEMBLY OF THE STATE OF ILLINOIS, that we recognize the First
16Women's Bank during Women's History Month for its advocacy for
17women and dedication to supporting women and minority-owned
18business; and be it further
 
19    RESOLVED, That a suitable copy of this resolution be
20presented to the First Women's Bank as a symbol of our esteem
21and respect.