30 Years of HR 5050

30 years ago, women who wanted a business loan in many U.S. states were required to provide a signature from a male relative.

That archaic requirement might still be in place if not for the Women’s Business Ownership Act of 1988. This month marks the 30th anniversary of that bill becoming law, one that opened up doors for female business owners and changed the landscape of entrepreneurship.

The National Association of Women Business Owners was an instrumental proponent of the bill, also known as HR 5050

Our local NAWBO chapter was founded in 1978, 10 years before HR 5050 was passed. That means there were women in our area who, for 10 years, advocated directly for this important, game-changing legislation. 

For more on HR 5050 and NAWBO's involvement, check out the HR 5050 whitepaper that NAWBO National released this month. 

Return to list