St. Louis, MO (October 24, 2023) According to the Women’s Business Enterprise National Council (WBENC), four out of every 10 businesses in the United States are owned by a woman. It’s also estimated that nearly 1,800 women launch a new business in this country every day. That’s a drastic difference compared to three decades ago – when only 4.6 percent of all businesses were owned by women.
Every October, as part of National Women’s Small Business Month, First Mid Bank & Trust (First Mid) works to recognize the achievements of the women business owners they serve. Kelly Bender, a Senior Vice President, Commercial Lender at First Mid, said the number of female business owners has changed dramatically compared to when she began her banking career in 2006.
“It’s incredible to see how many more women are taking that leap and deciding to open their own business,” said Bender. “One thing we pride ourselves in at First Mid is our ability to help clients navigate through all the challenges and questions that can come up when someone decides to start their own business. My advice to women is to always begin with a business plan. Know what you want to do and have it written out. Make sure you know the industry you’re trying to get into really well and then seek advice from people you trust.”
Recently, First Mid was selected as the Small Business Administration (SBA) Central/Southern Illinois Community Lender of the Year. This award is presented to the community bank with the best overall performance record for lending to small businesses in Central and Southern Illinois throughout 2022. This year marks the ninth time First Mid has received this award.
Kendele Sieve, co-owner of NOTO, an Italian restaurant located in St. Peters, Missouri, said she credits her success to having trusted local bankers to speak with and the benefits of SBA loan programs.
“Our experience with First Mid Bank & Trust has been wonderful,” said Sieve. “Being able to deal with someone local has benefited our company greatly because we can ask questions and get advice about our ideas. We’ve been able to grow with SBA loans, using them for construction and restaurant equipment as well as purchasing our property and land. We’re also using an SBA loan for a second business concept.”
If you’re interested in becoming a small business owner and want more information, head to www.firstmid.com/commercial-lending/sba-loans/
About First Mid Bancshares, Inc.: First Mid Bancshares, Inc. is the parent company of First Mid Bank & Trust, N.A., Blackhawk Bank, First Mid Insurance Group, and First Mid Wealth Management Company. First Mid is an $8.0 billion community-focused organization that provides financial services including banking, insurance, wealth management, brokerage, and ag services through a network of locations in Illinois, Missouri, Texas, and Wisconsin, and a loan production office in Indiana. Together, our First Mid team takes great pride in providing solutions and services to our customers and communities and has done so since 1865. More information about the Company is available on our website at firstmid.com. Our stock is traded in The NASDAQ Stock Market LLC under the ticker symbol “FMBH”.
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