Womens Entrepreneurship Center

wec-new-logo

Housed in the Kania School of Management, The University of Scranton Women’s Entrepreneurship Center (WEC) is a program of the Small Business Development Center (SBDC). WEC student interns and SBDC staff offer business start-up information, guidance, and encouragement to lower income women, those experiencing a life transition or those trying to make a better life for themselves and their families.

They do this by offering individual, confidential consulting and programs such as Coffee & Confidence – a 1-hour inspiration session, StartUP, a six-week series that walks participants through the process of starting a business and StartUP Virtual, a self-learning online series that guides participants through the process of starting a business.

One Program, Two Great Options: Now you have a choice between two different options for participating in StartUP.

StartUP Series

A six-week series where participants learn through live sessions (currently held on Zoom) and meet weekly.

Topics covered include:

  • business start up basics
  • legal and insurance considerations
  • marketing and social media essentials
  • business plan development
  • accounting and budget skills,
  • financing options and requirements,
  • goal setting
  • and other essential skills

The next session of StartUP will be held in the Fall of 2024.  

StartUP Virtual

The newest addition – A completely virtual version of our popular StartUP Series. 

StartUP Virtual is a six-week, self-learning program that gives women the step-by-step guidance they need to develop successful small businesses and like the flexibility of a virtual learning series completed on their own schedule.

Topics covered in the online learning modules include:

  • business start up basics
  • legal and insurance considerations
  • marketing and social media essentials
  • business plan development
  • accounting and budget skills,
  • financing options and requirements,
  • goal setting
  • and other essential skills

The next session of StartUP Virtual will be held in June 2024.

 

coffee-confidence
One-hour session where women:

  • network and exchange ideas
  • gain support and guidance in determining if self employment is an option for them

Each session features a guest mentor who shares her unique story and offers encouragement. Click here to see if a Coffee & Confidence is on our training schedule!

   Microloan Program

Women in Philanthropy (WIP) has developed a program that enables women to receive micro-loans from $1,000 to $10,000 to start or grow their business venture. This program removes many of the barriers faced by low to moderate income women or women in transition.

Unlike traditional lending, these micro-loans DO NOT require a minimum credit score or collateral.

By providing this opportunity to women, WIP aims to create a path for women to obtain necessary funding and to develop their credit-worthiness so they can qualify for traditional funding in the future.

To qualify for a micro-loan, the women must:

  • Own 51% or more of the business
  • Be considered low to moderate income or in transition.
  • Operate their business in, reside in, or have business ties to Lackawanna County
  • Participate in WIP financial confidence training to further their personal and professional financial acumen
  • Work with a WIP mentor to develop their business plan and loan application
  • Develop and submit their business plan to WIP and implement suggestions
  • Submit their loan application to WIP
  • If approved for a micro-loan, complete promissory note with the underwriter for WIP micro-loans
  • If not approved for a micro-loan, consider proposed corrective action steps to increase eligibility

Terms of the micro-loans:

  • Six percent (6%) interest rate, with the interest put into a savings account and returned to the borrower after the loan is repaid to help the borrower build savings for the future
  • Flexible repayment terms, with loan terms up to 48 months
  • Borrowers repay the loan in equal consecutive monthly installments
  • Borrowers can prepay the entire amount of the loan at any time without restriction or penalty to the borrower.

Learn more about Women in Philanthropy by clicking here.

If you are interested in a Microloan, please complete our form by clicking the purple box below. If you have questions, please call 570-941-7588 or click here to e-mail us with your questions.

WEC Student Interns

If you are a current University of Scranton student interested in applying for an internship with the Women’s Entrepreneurship Center, please contact Katelyn McManamon at 570-941-4168 or e-mail katelyn.mcmanamon@scranton.edu.

WEC Guest Speakers

We are looking for people who can donate their time to deliver great talks and help inspire our participants, regardless of their prior speaking experience!

If you:

  • are qualified to speak on a topic related to small business
  • have an inspiring story that could help others gain confidence
  • can talk about a challenge you’ve overcome in order to be successful
  • or have valuable lessons, tips or tools to share

Please provide your information and answer some questions via this link. There are a limited amount of speaking opportunities. Preference is given to those who currently own or have owned a small business.

———

For more information, please call 570-941-4168 or e-mail wec@scranton.edu or follow us on Facebook and Instagram.