Mastercard Champions Women Business Owners Throughout National Small Business Week and Beyond
May 02 2019 - 10:15AM
Business Wire
Company Kicks off New Campaign Spotlighting
Women Business Owners Across the Nation and Furthers Efforts to
Close the Funding Gap
Mastercard is helping share the stories of the women across the
U.S. who are contributing over $3 trillion to today’s economy and
opening over eighteen hundred businesses every single day. Today
the company announced the launch of a national advertising campaign
that puts the spotlight on women business owners who are driving
impact. Mastercard is also furthering its commitment to enabling
equal funding opportunities for underserved communities including
women small business owners and would-be entrepreneurs.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20190502005512/en/
Mastercard announces launch of a national
advertising campaign that puts the spotlight on women business
owners who are driving impact every day. (Photo: Business Wire)
Her Ideas Start Something Priceless
As National Small Business Week approaches and our attention
focuses on a segment that is a key driver of the economy,
Mastercard is working to ensure that we keep these owners in the
spotlight every day - not for just a week. The second phase of the
company’s integrated marketing and communications program which
kicked off earlier this year features the portraits and stories of
women business owners shared in highly visible print, out of home
and digital venues. Portraits have long been leveraged to tell the
stories of those who help shape our country's culture through
remarkable achievements and these women are the epitome of this
sentiment.
From a feature in the New York Times to billboards in Times
Square and beyond, the company wants to ensure that they’re giving
visibility to the women who took an idea and turned it in to
impact. The first output of this effort features Deepica Mutyala
founder and CEO of Live Tinted, Catherine Berman co-founder and CEO
of CNote, Sonja Rasula founder and CEO of Unique Markets and Morgan
Debaun CEO and Founder of Blavity among others.
“When you support women entrepreneurs, you’re not only
supporting the economy, you are supporting their desire to solve
real needs and make a difference in people’s lives. Women are
starting businesses with the intention of driving change within
their communities, society and the world. By putting a spotlight on
them we hope that other women are inspired to pursue their
passion,” said Cheryl Guerin, EVP of North America Marketing &
Communications at Mastercard.
Women Supporting Women
Forty eight percent of women believe mentorship programs for
women is most helpful for the advancement of women entrepreneurs.
Mastercard will first introduce this effort through its ongoing
partnership with Create & Cultivate by bringing together women
business owners and aspiring entrepreneurs for a one-day
conference in New York City to inspire, enlighten and inform
women around the critical topics for starting and running a
business.
"Create & Cultivate New York is one of the biggest events of
the year for us and we’re incredibly excited to continue our
partnership with Mastercard and highlight female-led
businesses. " said Jaclyn Johnson, CEO and Founder of
Create & Cultivate.
The on-site Mastercard small business marketplace will feature
the portraits of local New York founders including East Olivia
founder & creative director Kelsea Gaynor, Bliss Lau owner
of Bliss Lau, Yes I am Clothing founder Michelle Cadore, Coco and
Breezy twin sisters, founders and designers Corianna and Brianna
Dotson and Teressa Foglia founder of Teressa Foglia Hats. The event
will also feature a content studio where attendees can have their
portrait done and share their idea that sparked
their career inspiration.
Equal Opportunity for Underserved Communities
Nearly 27 percent of U.S. households are unbanked or underbanked
meaning they can’t access mainstream financial services. For women
struggling to support their families, with no credit history or
collateral, pursuing a small business idea is a distant dream.
Women receive only 4 percent of all small business loans from
financial institutions, which is why the Mastercard Center for
Inclusive Growth is invested in supporting the development and
growth of Community Development Financial Institutions (CDFIs).
CDFIs provide microloans to women who would otherwise be left
behind. Mastercard is funding the digitization of three
organizations – Grameen America, Opportunity Fund and
IRC’s Center for Economic Opportunity, to help them move away from
a paper and cash business and create digital systems for loan
disbursements. This enables an organization to safely scale in the
number of women they can support and new places they can reach
across the country. In fact, Grameen America was able to reach
52,900 additional women entrepreneurs in 2018 as a result of the
program.
Fueling Female Founded Startups
Mastercard Start Path in partnership with Astia, a trusted
global ecosystem of investors and advisors, is working to identify
female founded start-ups who are shaping the future of commerce.
The award-winning startup engagement program identifies early stage
companies that offer promising technologies and show a readiness
for scale. Mastercard Start Path and Astia have already supported
and invested in three female founded start-ups together
including:
- CNote is an award-winning
investment platform empowering individuals and institutions to earn
a competitive return while investing in women, minorities and small
businesses.
- Ellevest is a digital
investment platform built by women for women.
- Goodworld a fintech that
gives charities access to an untapped, rapidly expanding
fundraising channel, converting new and existing donors right in
their social media feeds.
This news comes on the heels of the
company’s announcement around bringing seamless digital
resources to the on-the-go, always connected small business owner
through an enriched card program and partnership with Intuit.
About Mastercard
Mastercard (NYSE: MA), www.mastercard.com, is a
technology company in the global payments industry. Our global
payments processing network connects consumers, financial
institutions, merchants, governments and businesses in more than
210 countries and territories. Mastercard products and
solutions make everyday commerce activities – such as shopping,
traveling, running a business and managing finances – easier, more
secure and more efficient for everyone. Follow us on
Twitter @MastercardNews, join the discussion on
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version on businesswire.com: https://www.businesswire.com/news/home/20190502005512/en/
Mastercard Communications Contact:Sarah
Elysarah.ely@mastercard.com914.249.6714
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