Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Capital on the Frontier Measure Better Investing in Racial Equity Beyond Trade-offs Impact en las Americas New Revivalists
Local and Inclusive Climate Finance Catalytic Capital Frontier Finance Best Practices Geographies
Slack Agent of Impact Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Locavesting Entrepreneurship Gender Smart Return on Inclusion Good Jobs Creative economy Opportunity Zones Investing in place Housing New Schooled Well Being People on the Move Faith and investing Inclusive Fintech
Clean Energy Farmer Finance Soil Wealth Conservation Finance Financing Fish
Innovative Finance
Personal Finance Impact Management
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States
Subscribe
Features
Series
Themes
Community
Data
Subscribe Log In
More

Bank of Montreal catches the gender-lens bug



ImpactAlpha, June 25 – Canada has put women’s opportunity and equality in the center of its international aid budget and G7 presidency.

At home, the Bank of Montreal is doubling down on women—specifically those who own their own businesses. The bank—the fourth largest in Canada—is committing to lending C$3 billion ($2.3 billion) to women-owned Canadian businesses over the next three years. In 2014, the bank allocated C$2 billion in credit for women entrepreneurs.

  • Canadian context… A recent study from the Bank of Montreal, Carleton University and The Beacon Agency, an Ontario-based consulting firm, found that although 50% of new Canadian businesses are women-led, a host of factors negatively impact female entrepreneurs’ success, including lack of mentorship and accelerator opportunities, difficulty accessing financing, and blatant sexism.
  • Unconscious bias… “impacts women entrepreneurs in obtaining funding from financial institutions and investors and in advancing their business,” the report states. Women over 39-years-old have a particularly hard time securing business loans. Many report having to bring a male family member or colleague to bank meetings with them.
  • Gender-lens… Last week, Goldman Sachs committed $500 million to women-led businesses.

To address some of the other ecosystem gaps, BMO’s lending initiative will be coupled with an online resource portal for women business owners and a workshop for female entrepreneurs in partnership with Start Up Canada.

You might also like...