TORONTO, March 3, 2021 /CNW/ - BMO Bank of Montreal today deepened its commitment to women entrepreneurs and business owners with $1.2 million in funding provided to SheEO, a not-for-profit company which provides financial support to businesses led by women and non-binary people. This financial commitment will allow SheEO to fund twice as many ventures working to achieve the United Nations Sustainable Development Goals in 2021.
"The pandemic has created an additional challenge and barrier to women business owners, but we want to turn that around and ensure women entrepreneurs can hold their ground and emerge from the pandemic in a stronger position," said Mike Bonner, Head, Canadian Business Banking, BMO Bank of Montreal. "This investment is another example of our Purpose in action, as we Boldly Grow the Good in business and life."
BMO's collaboration with SheEO aligns with the bank's newly announced five-year diversity and representation goals, centred around creating a more inclusive society. The not for profit's focus is on reducing barriers woman-owned businesses face when trying to obtain financing, and funding ventures that address sustainability issues faced worldwide.
"BMO's investment in SheEO will help a growing number of women-owned businesses affected by the pandemic to have the opportunity to grow and prosper with this additional funding," said Vicki Saunders, Founder of SheEO. "We are excited to have the opportunity to double the number of ventures for the first time since we launched in 2015 – together we have an even greater opportunity to tackle some of the leading social issues of our time."
As part of its long-standing commitment to women-owned businesses, BMO has:
- Made $3 billion in capital available to women-owned businesses across Canada over three years
- Invested in solutions to improve support for women entrepreneurs – and all small businesses – like BMO Business Xpress
- Funded over $35,000,000 to women-owned businesses via BMO Business Xpress
- Pledged $100,000 in grants to women-owned businesses to help them better position themselves coming out of the pandemic
- Rolled out training modules for Commercial and Business Banking Relationship Managers, focused on enabling them to better understand the barriers faced by women business owners and how to better assist them
To learn more about how BMO is supporting women entrepreneurs, visit: https://bmoforwomen.bmo.com/.
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $973 billion as of January 31, 2021, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
Internet: www.bmo.com Twitter: @BMOMedia
SOURCE BMO Financial Group