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Federal Reserve Bank of Dallas R OB ERT D. McTEER, JR. DALLAS, TEXAS PR ES ID EN T A N D C H IE F E X E C U T I V E O F F I C E R December 11, 1998 75265-5906 Notice 98-116 TO: The Chief Executive Officer of each financial institution and others concerned in the Eleventh Federal Reserve District SUBJECT Availability of Videotape— To Their Credit: Women-Owned Businesses DETAILS The Board of Governors of the Federal Reserve System has announced the availability of a videotape designed to heighten awareness among lenders about the business opportunities available to them in lending to businesses owned by women. The videotape, entitled To Their Credit: Women-Owned Businesses, is available for a nominal fee by calling (800) 555-5471. The Federal Reserve Bank of Chicago and the Women’s Business Development Center also produced a publication that covers issues concerning access to credit. The publica tion, Access to Credit: A Guide fo r Lenders and Women Owners o f Small Businesses, can be obtained by contacting the Federal Reserve Bank of Chicago’s Public Affairs office at (312) 322-5111. ATTACHMENT A copy of the Board’s press release is attached. MORE INFORMATION For more information regarding the video, please contact the Community Affairs office at (214) 922-5377. For additional copies of this Bank’s notice, contact the Public Affairs Department at (214) 922-5254. Sincerely yours, For additional copies, bankers and others are encouraged to use one of the following toll-free numbers in contacting the Federal Reserve Bank of Dallas: Dallas Office (800) 333-4460; El Paso Branch Intrastate (800) 592-1631, Interstate (800) 351-1012; Houston Branch Intrastate (800) 392-4162, Interstate (800) 221-0363; San Antonio Branch Intrastate (800) 292-5810. This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) FEDERAL RESERVE Dress release *a For immediate release November 2, 1998 The Federal Reserve announced today the production of a videotape designed to heighten awareness among lenders about the business opportunities available to them in lending to businesses owned by women. Businesses owned by women represent one of the fastest growing sectors of the nation's economy. Between 1987 and 1996, the number of women-owned businesses grew 78% nationwide, outpacing overall business growth by nearly 2 to 1. Through testimonials, the videotape entitled, To Their Credit: Women-Owned Businesses, features successful women business owners describing their experiences in obtaining bank credit. To potential entrepreneurs, the tape stresses the need for future commercial borrowers to build a relationship with the lender and to have a comprehensive business plan prepared prior to approaching a lender. To potential lenders, the tape focuses on the profitability this fast-growing segment of the economy offers financial institutions. During the 30-minute program, future women entrepreneurs should recognize the many informational resources available to help them including: ► ► ► Women's Business Development Centers Small Business Administration Women's Business Centers Federal Reserve Bank's Community Affairs Offices The videotape is available through FVS Media for a nominal fee. The telephone number is 800-555-5471. The Federal Reserve Bank of Chicago and the Women's Business Development Center also produced a publication that covers access to credit issues. The publication, Access to Credit: A Guide fo r Lenders and Women Owners o f Small Businesses, can be obtained by contacting the Federal Reserve Bank of Chicago's Public Affairs Office at 312-322-5111. For more information regarding the video contact the Community Affairs Offices at your local Federal Reserve Bank. - 0 -