Amy Chase: Hi! Welcome to SBTV.com coverage of the 2007 SBA Awards here in St Louis. I am Amy Chase and doing me right now with Anne Gagen. She is the Managing Director of the Private Bank and she is this year’s winner of the women in Business Champion of the Year. Congratulations on your award. So, tell me a little about the Private Bank and maybe what makes a different from other institution that lends money?
Anne L. Gagen: Well, the Private Banks is actually base in Chicago but we have offices and cities around the Mid West, Milwaukee, Detroit, St. Louis, Kansas City and we just opened in Atlanta. What the Private Bank has been founded on is relationship banking, so we really try to get to know the individuals that we work with and learn what they are needs are, and what their business needs might be.
Amy Chase: And tell me, is it really interesting to me earlier that I guess most women took the clay when they start a business, use their own financing as oppose to go in for a bank loan?
Anne L. Gagen: That’s correct and I think primarily because women are conservative and risk a verse and they want to see if the business can get started and be successful. At the time when the revenues increase to the point where they have to get outside financing, then what they want to look for is a relationship that with the financial institution that is going to help them grow their business and work with them a long the way and hopefully provides some good advice too.
Amy Chase: We’re looking at trends that we’re seeing. We’re here all the time that I guess women businesses are growing faster typically than just the general market at this point?
Anne L. Gagen: They are, and one of the things that I read seems to be that women are looking for the flexibility that only in their own business provides. You’ll see women that all how started and different industries and decide that they want to go out and start their own business primarily because of the flexibility. In many cases this women have children and they want to be able to adjust their schedule. And many times, a woman entrepreneur will work after the kids go to bed at night until 11 o’ clock so that they adjust their day based on the needs of their family too.
Amy Chase: Let me ask you about events like this in particular, when you come to events like this and you meet other small business owners, other entrepreneurs, what do you like to take away from that or what can you take away from that to using your own business.?
Anne L. Gagen: The most impressive thing is the ability that this people have had to come up with an idea and to work night and day, to make it successful, and in many cases there was a reason why they might have been in the situation where there particular job, they were laid off and so they plan to start their own business, and out of that you see very successful business owners sometimes so they’re an inspiration.
Amy Chase: Well, thank you so much for joining us again. That was Anne Gagen and she is the Women in Business Champion of the Year, here at the 2007 SBA Awards here in St. Louis. Stay tuned SBTV.com we have much more coverage ahead. SBTV.com where small business is our only business.
Transcription by:
Scribe4you Transcription Services