To develop those resources, two powerhouses for women entrepreneurs have teamed with OPEN, the small business division of American Express, to launch the Make Mine a $Million Business program. The pilot award program is designed to help women in Southern California and across the country build million-dollar enterprises by equipping them with a variety of resources. July 21 is the deadline for entries at www.count-me-in.org.

To be eligible for the program – which delivers a combination of loans and business mentoring to awardees – candidate businesses must be woman-owned and have been operational during the previous two years. A panel of successful local entrepreneurs will field business pitches from six Southern California finalists during the Women's Leadership Exchange conference on August 2nd at the Hyatt Regency in Long Beach. Award recipients will be announced at the conclusion of the conference.

Make Mine a $Million Business is a collaboration among Count-Me-In for Women's Economic Independence, a not-for-profit organization dedicated to increasing women's access to credit and capital; the Women's Leadership Exchange (WLE), an educational and networking company that conducts conferences for women business owners across the United States; and OPEN from American Express.

"This program will help create clear pathways to move high-growth-potential women entrepreneurs from micro- to million-dollar enterprises," said Nell Merlino, co-founder, president and chief executive officer, Count-Me-In. “Women continue to face tremendous challenges in securing financing for business growth. Sixty-six percent of women who come to the Count-Me-In web site have been turned down by three to five banks in the past year."

In Los Angeles, according to the OPEN survey, four in ten (39%) women business owners say they face barriers to securing the financing they need to grow their businesses. Of that group, respondents cite overwhelming paperwork requirements as the greatest barrier (11%); 9% cite low credit scores and 8% claim limited knowledge of financing resources as key barriers. One in five (20%) women business owners in Los Angeles report having been denied a loan or line of credit.

“These barriers are part of the reason why, nationally, just three percent of women-owned companies are million-dollar enterprises, compared to seven percent of all men-owned companies,”* said Alexa Brownell, director, Advocacy Marketing, OPEN from American Express. “The Make Mine a $Million Business program is designed to help women overcome these barriers and provide entrepreneurs with not just the money, but also the mentors and contacts who will guide them, encourage them and help them thrive.”

Additional survey data is available here. The data captures Los Angeles women business owners' outlook on:

• Growth prospects
• Hiring plans
• Capital investments for growth
• Healthcare coverage for employees

Make Mine a $Million Business Brings Together Money, Mentoring and Marketing
Six in ten (62%) women entrepreneurs in Los Angeles turn to mentors for help with business decisions or when searching for ideas for growth. The Make Mine a $Million Business program offers a combination of one-on-one business coaching, networking opportunities and loans to awardees. A “Dream Team” of mentors and business advisors will counsel each award recipients for one year. Together, the advisors and awardees will craft a specific plan for growth, and will mentor the award recipients on issues ranging from operations to marketing to financing.

This national pilot program will continue to roll out across the United States until 15 of the country's most promising women business owners receive an OPEN from American Express Make Mine a $Million Business Award, which includes a business loan of up to $45,000 from Count-Me-In and the year of focused business mentoring. Fifteen runners-up will receive loans of up to $20,000.

Six awardees have already been named at the WLE conferences in Dallas (April 5) and Chicago (May 10). The remaining awardees and runners-up will be chosen at the WLE conferences in Long Beach and Atlanta (September 21).

The program will culminate at a New York event, which will be announced at a later time. To apply or learn more, log on to www.count-me-in.org. July 21 is the deadline for entries in the Los Angeles area.

Women's Leadership Exchange Conferences Offer More Growth Opportunities
Women who participate in the Make Mine a $Million Business program will be able to network with their peers and connect women established, successful women entrepreneurs who want to share their business insights. Arianna Huffington, Nationally Syndicated Columnist, Author and TV Commentator, will deliver the keynote address at the full-day Women's Leadership Exchange conference in Long Beach. A variety of conference seminars will help attendees jump-start the growth of their businesses – including a session that will teach Make Mine a $Million applicants how to best present their business cases when seeking loans.

For more information about the WLE conference, or to find information and applications for Make Mine a $Million Business, visit www.womensleadershipexchange.com and click on the Make Mine a $Million button.

About Count-Me-In
Count Me In for Women's Economic Independence designed, produces and administers the new Make Mine a $Million Business ™ program. A nonprofit 501(c)3 organization, Count Me In champions women's entrepreneurship and economic independence. Dedicated to increasing access to credit and capital, the organization provides online nationwide access to micro business loans, business consultation and education to women who have been turned down by the system. We are changing the way women do business! For more information, visit www.count-me-in.org.

About Women's Leadership Exchange
The Women's Leadership Exchange (WLE) is a New York City-based multimedia company founded by and for female entrepreneurs that features educational conferences in five cities annually (Dallas, Chicago, Southern California, Atlanta and New York) for already established businesses with revenues from $500,000 to $25 million. The WLE offers women entrepreneurs access to the tools and connections that drive business growth. The WLE mission is to help develop more women leaders in business and other areas of human endeavor by connecting women with top business experts, corporate leaders and with each other. The WLE also offers its e-newsletter, “The Exchange,” its online New Women's Network Directory, its women's business spa retreats and topic-specific seminars on such issues as finances. The WLE presenting sponsor is OPEN from American Express. For more information, visit www.womensleadershipexchange.com or call 1-888-937-5800.

About OPEN
OPEN from American Express provides small business owners access to an enhanced set of products, tools, services and savings designed to help meet their evolving needs, including charge and credit cards, convenient access to working capital, robust online account management capabilities and savings on business services from an expanded lineup of partners. To obtain more information about OPEN from American Express, visit OPEN.americanexpress.com/women, or call 1-800-471-0028 to apply for a Card or loan. Terms and conditions apply.

American Express Company is a diversified worldwide travel, financial and network services company founded in 1850. It is a world leader in charge and credit cards, Travelers Cheques, travel, financial planning, business services, insurance and international banking.

Survey Methodology
The OPEN Small Business Monitor is based on a nationally representative sample of 627 small business owners/managers of companies with fewer than 100 employees. Additionally, 201 women small business owners/managers in the Los Angeles area participated in this survey. The survey was conducted via telephone by International Communications Research (ICR) from February 9- February 22, 2005. The poll has a margin of error of +3.9%.

* Source: Center for Women's Business Research using Bureau of the Census data, 2004.

Contacts:
Channing Barringer
212.640.0512
Channing.K.Barringer@aexp.com

Rosa Alfonso
212.640.1712
Rosa.M.Alfonso@aexp.com