NEW YORK - Verizon Foundation, the philanthropic arm of Verizon Communications, has partnered with Count Me In for Women's Economic Independence, the world's first online micro lender, to help put more American women in business for themselves.
Verizon Foundation is providing Count Me In with a $100,000 grant and a three-year commitment to host the organization's Web site ( www.count-me-in.org), which enables visitors to both donate to the fund and apply for loans.
Using a new woman-appropriate credit-scoring system that more fairly evaluates a woman's business potential and life circumstances -- taking into account factors such as divorce or taking time off to raise a family -- Count Me In provides loans ranging from $500 to $10,000 to women who want to start or expand their own businesses. The organization, which began accepting donations in April, awarded its first loans today.
"Women own 38 percent of all businesses in this country, but still have far less access to capital than men," said Nell Merlino, co-founder of Count Me In. "Visionary organizations like Verizon Foundation know that by helping women achieve parity in business, they are strengthening the entire economy."
Noting that Count Me In invests in women's long-term business potential, Verizon Foundation President Suzanne DuBose said, "Verizon Foundation is excited about investing in the long-term potential of Count Me In. It's really a perfect partnership, since both our organizations recognize the inherent value of using the Internet to better serve our constituents. Through our partnership, women will be able to access capital in a mode that they have never been able to before. As a woman business leader, I'm particularly pleased that Count Me In for Women's Economic Independence will be among the first nonprofit organizations to be hosted on the Verizon Foundation's new data center."
The Verizon Foundation supports programs that create innovative e-solutions, help bridge the digital divide, foster basic and computer literacy, help enrich
communities, and create a skilled workforce. The Verizon Foundation promotes partnerships in technology with organizations serving the needs of diverse communities, people with disabilities, and the economically and socially disadvantaged. For more information on the Verizon Foundation, visit www.verizon.com/foundation on the Internet.
