“Forty two percent of small businesses are founded by women, but women are only accessing around 6% of lending capital,” says Sophia Bush, actor and entrepreneur. As angel investors, she and Nia Batts, previously one of the youngest executives at Viacom, are looking to change that.
The cover stars of the November/December 2022 issue of SUCCESS magazine are investing in women, especially those with less privilege and access. They are now advisers for First Women’s Bank—the first women-founded, owned and run bank in the U.S. Bush and Batts talk with On Your Terms host Erin King about being underestimated, changing who has the power and resources, becoming more capital efficient, and understanding how to access loans and funding as a small business owner.
Money has played a large role in both Batts’ and Bush’s lives, and both are well aware of the power—and more importantly, options—that money provides. Now, armed with experience, a deep understanding of money and a desire to make a difference, the pair are working toward making room at the table for a more diverse array of minds. Batts and Bush discuss how their friendship began, the challenges they have overcome along the way and the necessity of creating access for female business founders.
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On Your Terms with Erin King is no longer releasing new episodes on the SUCCESS Podcast Network, but you can still listen to the full conversation below.
Erin King is the bestselling author of “You’re Kind of a Big Deal: Level Up by Unlocking Your Audacity” and “Digital Persuasion: Sell Smarter in the Modern Marketplace.” She’s also the Chief Social Officer at Strikepoint Media, a digital marketing firm focused on social customer acquisition. But hands down, her toughest job is being a personal full-time assistant to a 13-pound cavapoo puppy named Betty White. You can connect with her on Instagram @mrs.erin.king