What is being touted as the "only women-founded, women-owned and women-led commercial bank" in the United States opened Wednesday.
First Women's Bank will operate out of its flagship location in Chicago.
Investors include tennis great Billie Jean King, the bank said in a statement. Actor and activist Sophia Bush and entrepreneur Nia Batts have signed on as strategic advisers.
“As entrepreneurs and investors, we know what it’s like to navigate the capital structures that can support or impede the growth of a business," Batts said in a statement. "It’s incredibly important to us to make sure that women — at every stage of their businesses — are supported with the community, resources, and opportunities that we know have not been historically made available to all."
The bank's website says "Women-owned businesses are growing 2x faster than the national average, yet they receive just 16% of all conventional business loans."
The bank said it will operate out Chicago and "serve a national lending and deposit market."
