CWBN_May_2017-DRAFT

COVER STORY Continued
Women are making up for lost ground and it appears
that the Nevada State Legislatures are on board!
Patricia Lee, Esq/Partner
Hutchison & Steffen Law Firm
The Women’s Chamber of Commerce Nevada was front and center
to testify in support of this progressive bill. On March 23, 2017,
Patricia Lee, Board Member for the Chamber, appeared before a
legislative committee to advocate in favor of the bill on behalf of the
Women’s Chamber of Commerce.
Women are making up for lost ground and it appears that the Nevada State Legislatures are on board! The Women’s
Chamber of Commerce Nevada was front and center to testify in support of this progressive bill. On March 23, 2017,
Patricia Lee, Board Member for the Chamber, appeared before a legislative committee to advocate in favor of the bill on
behalf of the Women’s Chamber of Commerce. In her presentation, Mrs. Lee cited to the various reasons that women
have been historically and disproportionately denied traditional funding: “Women have been historically denied access
to traditional funding from lending institutions due to real and/or perceived issues such as lack of collateral, strict
banking requirements stemming from the 2008 financial crisis, perceived risk (i.e. betting on women is somehow riskier),
and low or negative cash flow and revenues.”
SB 126 seeks to reverse some of these historical inequities by mandating the dispensation of funds to qualified
applicants to assist with the growth of their businesses. The funds are presented in the form of a loan, with highly
favorable repayment rates for those that qualify. If passed, women owned businesses can apply for a micro-loan on
behalf of their companies to assist in the growth and expansion of their existing businesses.
In support of her testimony, Lee anecdotally cited to a story close to the Chamber’s heart. She told the story of the
WCCNV’s founder, June Beland, who in 1977, had the audacity to seek a business loan from a nationally reputable
bank to help capitalize her new modeling school and agency and publishing company, only to be asked, “Where is your
husband?!” The story, while comical in retrospect, appeared to resonate with the committee and they were pleased to
learn that, after exerting much effort and engaging in a level of vigilance we all hope to one day achieve, June ultimately
received the loan, on her own merit, AND without her husband!!! (No disrespect to Norman of course who is, by all
accounts a super supportive and amazing spouse).
The Women’s Chamber joined both the Latin Chamber of Commerce and the Urban Chamber of Commerce in voicing
its support for this bill. All testifying chambers cited to the fact that the groups represented in the bill have historically
lacked access to sufficient capital to expand and hire additional employees and will likely employ greater number of
women, minorities and other Nevadans and therefore relieve unemployment in many segments of the population that
have traditionally experienced the highest rates of unemployment and underemployment.
In sum, the Women’s Chamber’s message was clear: any bill that assists with relieving unemployment while
simultaneously encouraging economic growth and maintaining a stable economy, will always be supported by the
Women’s Chamber. A special thanks to June Beland for allowing us to share her story and for being one of the many
trail blazing inspirations for this hopefully soon-to-be new law! •
May 2017
eNewsletter