Pool Party Women's money and women's businesses coming together for the good of all women
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What if every woman in the United States donated $5 to a fundthat would help women start businesses? Can you imagine the impactthat would have?
Entrepreneurial activist Nell Merlino can. In fact, she'sgone beyond imagining that scenario to turning it into a reality.This consultant who worked with the Ms. Foundation to help developTake Our Daughters to Work Day has teamed up with media specialistIris Burnett to form an Internet-based microloan fund for aspiringwomen entrepreneurs.
What the two women did was tweak an idea that's been growingin America for more than 25 years: microlending. The twist: Insteadof seeking contributions solely from government and privatefoundations, as most microloan funds do, this one also solicitscontributions from individual women. By April 2001, the Count Me Infor Women's Economic Independence fund had collected $2million, including $100,000 from individual contributors whoseaverage donation was $15. We spoke to Merlino about the power ofwomen helping women.
Why do you think women have been so supportive in helpingyour efforts? Is it because we have an urge to nurture?
Nell Merlino: I generallydon't like to ascribe a characteristic to an entire group ofpeople. But certainly women have an interest in helping.There's plenty of evidence for that. We play those roles in thefamily, in our communities and at work. But I also think women wantto lead and build lives that are flexible.
They're contributing not just out of a desire to helpothers, but also to make sure the opportunity is there for women todo what they want to do. I believe there are many women who eitherhad the experience of starting a business, or are thinking aboutit, or are watching a close friend or relative try to do it, andthey want to help.
Were you surprised by the response from individual women andgirls?
Merlino: Yes. But verypleased with the contributions we've received. The more womenhear about it, the more contributions we get. I don't thinkthis is something you hear about one minute and make a contributionthe next. [Contributions] improve as people get familiar with theconcept of women being able to help each other.
It seems a bit unusual to target individual donations ratherthan just foundations and corporations. Why did you take thisroute?
Merlino: We thought thebroader we made it, the more interest and support we would have. Ithink it means a lot for the women who get our loans to know itcould be somebody down the street who put in $10 or $15.
[With most corporate donors,] the people who contributed to usfirst have been women. The heads of the American Express, Verizonand BP Amoco foundations are all female.
So far, Count Me In has made loans to 115 women in 39 states,ranging in size from $500 to $10,000 and totaling more than$300,000.
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Contact Source
- Count Me In forWomen's Economic Independence, 22 W. 26th St., #9H, NewYork, NY 10010
