Cincinnati attorney Candace Klein is a good girl gone bad, and she wants to take other women with her.
That's exactly why she launched Bad Girl Ventures early this year. But really, it's not as bad as you might think. Bad Girl wants to help fill the gap between small women-owned startups looking for loans and funders who want to help create jobs.
"It's really difficult for women-owned startups right now," says Klein. "Personally, I've given to so many charities, political causes and organizations. I thought, 'If there was a way I could give just a portion of that to a startup company that would create jobs, I would.' I think we're really missing the boat on supporting women-owned startups."
Bad Girl Ventures is based on the micro-financing model of international organizations like Kiva, where small loans from individuals are bundled. It's also a nonprofit, so contributions are tax deductible.
Klein believes BGV is the first of its kind in the nation because it pairs the micro-lending model with a curriculum and a focus on women. Five chosen startups will undergo a six-week entrepreneur curriculum, where they will learn the building blocks to starting a business and be responsible for submitting a business plan, WBE application, etc. While one of the five entrepreneurs will receive a $25,000 low interest loan from Bad Girl Ventures, other partner banks will be approached to finance the other participants.
Eligible businesses must be at least 51 percent women-owned and in the sectors of retail, restaurant or professional services. The first Bad Girl class has recently applied for loans in a competitive application process that will allow them to get their businesses off the ground. The chosen businesses will be announced later this month.
So how does Klein define a bad girl? Bad Girl (Bad gurl) n. -- A female with an inner voice urging her to start something. Typically adverse to authority, she creates energy with her ideas and is a natural born leader. Peers admire her grace and intellect and the community is stronger as a result of her presence.
Source: Candace Klein, founder Bad Girl Ventures
Writer: Feoshia Henderson