Bill Text: IL SR0844 | 2023-2024 | 103rd General Assembly | Introduced
Bill Title: Recognizes the First Women's Bank during Women's History Month for their advocacy for women and dedication to supporting women and minority-owned business.
Spectrum: Partisan Bill (Democrat 4-0)
Status: (Introduced) 2024-04-25 - Added as Co-Sponsor Sen. David Koehler [SR0844 Detail]
Download: Illinois-2023-SR0844-Introduced.html
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| 1 | SENATE RESOLUTION | ||||||
| 2 | WHEREAS, The members of the Illinois State Senate wish to | ||||||
| 3 | recognize the First Women's Bank during Women's History Month | ||||||
| 4 | for their advocacy for women and dedication to supporting | ||||||
| 5 | women and minority-owned business; and
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| 6 | WHEREAS, Women's History Month provides a powerful | ||||||
| 7 | opportunity to elevate women entrepreneurs and the role of | ||||||
| 8 | women in the economy; and
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| 9 | WHEREAS, Women have been and continue to be leaders in the | ||||||
| 10 | forefront of business and other fields and now represent | ||||||
| 11 | approximately half of the workforce of the United States; and
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| 12 | WHEREAS, Women were not given the right to obtain credit | ||||||
| 13 | cards until the 1970s, and they have routinely faced | ||||||
| 14 | difficulties securing commercial financing, creating a | ||||||
| 15 | significant gender gap in lending and setting women | ||||||
| 16 | entrepreneurs behind; and
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| 17 | WHEREAS, Women receive just 16% of all conventional | ||||||
| 18 | business loans and just 4.4% of the total dollar amount, | ||||||
| 19 | limiting their businesses from reaching their full potential; | ||||||
| 20 | and
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| 1 | WHEREAS, The First Women's Bank, established in 2021, | ||||||
| 2 | became the first financial institution formed in the country | ||||||
| 3 | with a mission to close the gender gap in lending and grow | ||||||
| 4 | commercial financing options for women-owned and women-led | ||||||
| 5 | businesses; and
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| 6 | WHEREAS, Holding deposits at First Women's Bank realizes | ||||||
| 7 | significant social capital and contributes to growing the | ||||||
| 8 | women's economy, allowing clients to leverage their cash for | ||||||
| 9 | realized impact; and
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| 10 | WHEREAS, Building the First Women's Bank's deposit base is | ||||||
| 11 | critical to its ability to fund loans to women and | ||||||
| 12 | minority-owned businesses, which is core to its mission; | ||||||
| 13 | therefore, be it
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| 14 | RESOLVED, BY THE SENATE OF THE ONE HUNDRED THIRD GENERAL | ||||||
| 15 | ASSEMBLY OF THE STATE OF ILLINOIS, that we recognize the First | ||||||
| 16 | Women's Bank during Women's History Month for its advocacy for | ||||||
| 17 | women and dedication to supporting women and minority-owned | ||||||
| 18 | business; and be it further
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