Women-owned business have historically faced barriers to getting money and loans. The pandemic has led to additional challenges for those businesses, but their success has big potential to help with our economic recovery.
“I mean they're big job creators and we also know that, you know, women invest 90% of their income back into their families and communities, so really has a multiplier effect, so when you help them, you're helping the community and really helping the economy overall,” said Sharon Bowen at Seneca Women.
Seneca Women is a platform that focuses on advancing women and girls to create a more equitable and prosperous world.
They're working to help women-owned businesses by launching a credit card that rewards you for shopping at those businesses.
The new credit card will give you 3% cash back when you shop at the more than 1 million women-owned businesses in the Seneca Women marketplace.
You also have the option to donate your rewards to the nonprofits Seneca Women supports.
“People are surprised that there's no one place you can go to and get a marketplace of this size and so just the fact that there is this large marketplace is really great and it will become a community. You know, those women can support each other,” said Bowen.
All businesses are vetted before they're added to the marketplace. You can also nominate a business from your community to get them added as well.
If you are interested in getting the credit card or just checking out the marketplace, you can find details at senecawomen.com.