Associated Bank, Green Bay, Wis., invested $1 million in the Wisconsin Women’s Business Initiative Corporation loan opportunity fund as a part of the bank’s Associated Community Development program. The investment, announced Feb. 13, supports the WWBIC’s, Putting Dreams To Work fund, which supports women and minority-owned companies in their economic and entrepreneurial development throughout Wisconsin.
The loans offered by the WWBIC support access to quality business and financial education, along with access to fair and responsible capital and individualized technical support, for people of color, women and low-income individuals. The WWBIC helps small businesses purchase equipment, stock inventory and improve and expand store locations.
“By investing in the work WWBIC does throughout Wisconsin, we’re able to help small business owners across the state achieve success,” said John Utz, the bank’s head of corporate banking and president of the Milwaukee market.
Along with the investment, Associated Bank employees will offer 18 financial education sessions for WWBIC borrowers in the greater Milwaukee area. Coordinated by the WWBIC, the sessions will prepare borrowers to protect themselves against identity theft, prepare budgets and understand debt, or turn a hobby into a business.
The WWBIC has supported entrepreneurs and business owners put their dreams to work for over 30 years, helping nearly 5,000 business start, strengthen, or expand. “With over $60 million in loans distributed since their founding, WWBIC has helped hundreds of entrepreneurs achieve the dream of owning their own business,” Utz said.