AVIATRA ACCELERATORS LAUNCHES CAPITAL-READY WOMEN PROGRAM TO FINANCIALLY EMPOWER WOMEN ENTREPRENEURS
Program Made Possible By RC Durr Grant & Financial Institution Support
CINCINNATI, OH –October 9, 2024 – Aviatra Accelerators, a non-profit organization dedicated to supporting women entrepreneurs, announces the launch of its Capital-Ready Women (CRW) program, the only fundability assessment and guided program in the U.S. that is not government-affiliated or associated with a financial institution. This program is specifically designed to help women in non-tech industries prepare to successfully access capital through loans or investments.
The launch of this innovative program is made possible by support from regional & national banks including Heritage Bank, Park National, Republic Bank, First Financial Bank, PNC and Huntington, and a grant from the RC Durr Foundation. Established by R.C. Durr in 1993, the foundation has created community impact with over 1,100 grants in Northern Kentucky. This grant, along with grants from the Truist Charitable Fund, a donor-advised fund administered by The Winston-Salem Foundation, and the First Financial Foundation, will help support the CRW program's first year, enabling Aviatra to develop, launch, and deliver crucial resources to women entrepreneurs – including those in underserved rural communities.
In 2022, only 5% of business loans went to women-owned businesses, despite women owning 39% of all businesses in America, according to the WBENC. Additionally, women-owned businesses received only 7% of venture funds for their startups. The Capital-Ready Women program aims to address this gender disparity by preparing women entrepreneurs for productive meetings with lenders and investors, ensuring they can access the funding needed to achieve their business goals.
The program begins with a free fundability assessment, providing participants with a score that indicates their readiness to access capital and resources to improve their score. The CRW program includes three levels:
1. Pre-Flight Capital Program: For those scoring below 50 on the fundability assessment, this free, self-guided program includes three modules to address areas of weakness and improve future scores.
2. Runway Capital Program: For those scoring over 51 but not yet profitable, this 8-week program offers resources and coaching to achieve profitability. The program cost is $500, and if participants become profitable within 18 months, the fee can be applied to the Lift Off Program.
3. Lift Off Capital Program: For those with a fundability score above 65, this 12-week program includes coaching and resources to prepare participants to successfully access funding and costs $1,500. It includes additional vendor-provided services and facilitated conversations with vetted funders.
"This program will enable women business owners to successfully access the capital they need to grow, leading to more sustainable businesses, higher incomes, more job creation, and increased local economic vitality," said Jill Morenz, President, and CEO of Aviatra Accelerators.
The CRW program will initially focus on the urban and suburban areas of Cincinnati and Northern Kentucky and rural areas of Northern Kentucky.
The goal is to serve at least 50 women in the program’s first year, with additional women benefiting from the free level. The program’s impact is expected to be significant, particularly in rural areas where entrepreneur assistance resources are scarce.
By strengthening their businesses, improving profitability, and boosting confidence in funding conversations, CRW will help women entrepreneurs achieve their business goals and impact the local economy. For more information about Aviatra’s Capital-Ready Women program or to apply, visit https://www.aviatraaccelerators.org/capital-ready-women.
About Aviatra Accelerators
Celebrating fourteen years of supporting women on the rise to find the power to soar, Aviatra Accelerators, a 501(c)3 non-profit organization, exists to empower women entrepreneurs, providing education, coaching, mentoring, networking, and access to capital. Aviatra’s programs are tailored to meet the needs of women entrepreneurs at all stages of the business cycle. With a presence in Cincinnati, Northern Kentucky and Dayton, Ohio, Aviatra Accelerators has helped nearly 4,000 women entrepreneurs create 15,000 jobs and receive millions in funding, and its alumni have generated a cumulative total of over $1 billion in earned revenues. For more about Aviatra and its women entrepreneur success stories, visit https://aviatraaccelerators.org.
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