The Chicago-based First Women’s Bank (FWB) has announced a new star adviser is joining its ranks to help promote and advance the inclusive economy. Allyson Felix, the most decorated track and field Olympian in history, has joined the bank as a strategic adviser. Her role will be to help support and promote FWB’s mission of growing the inclusive economy by connecting women-owned small businesses with resources and access to capital to help grow their companies.
That access to capital is much needed. In 2021, a Harvard Business Review study found that in the prior year women-led startups received a paltry 2.3% share of all venture capital funding. And that was down 0.5% from 2019—which represented an all-time high. And a 2014 study found that female business owners are more likely than men “to be discouraged from applying for a bank loan” because of fears the loan will be rejected.
Best known for being a nine-time Olympic medalist and six-time Olympic Champion, Felix is also startup founder and entrepreneur. She cofounded Saysh, a lifestyle brand for women with an athletic mindset.
Announcing her new role as strategic adviser, Felix said, “As a small business owner, I know how vital financing is to the growth and success of a business. First Women’s Bank is the only women-founded and owned commercial bank formed to serve women business owners, and Saysh and I are excited to partner with them as we work to create accessible financing for female entrepreneurs.”
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