Female business owners often have less access to capital because women tend lack relationships with bankers, National Association of Women Business Owners CEO Jen Earle said on Tuesday at an Axios virtual event.

What she's saying: "Women are naturally risk-averse, and so a lot of times they don't want to take on huge chunks of debt to make their business grow. "They've done it kind of by bootstrapping, by utilizing their credit cards, by using personal funding. "

  • So when female business owners suddenly need capital, "there's not really any backing there," Earle said.

Earle said female business owners have found it hard to balance the multiple roles they play in the household, along with managing their businesses through the economic downturn brought on by the coronavirus pandemic.

  • "We're worrying about moms staying at home with their kids and figuring out how they're going to educate them," Earle said.

Go deeper

Updated 8 hours ago - Health

U.S. coronavirus updates

Data: The COVID Tracking Project; Note: Does not include probable deaths from New York City; Map: Andrew Witherspoon/Axios

Seven players and six staff members from the St. Louis Cardinals have tested positive for the coronavirus over the past week, prompting the MLB to postpone the team's upcoming four-game series against the Detroit Tigers.

The big picture: Former FDA commissioner Scott Gottlieb told CNBC’s "Squawk Box" that coronavirus outbreaks in the MLB are "a warning of what could potentially happen if we aren't very careful with the schools."

Updated Jul 28, 2020 - Axios Events

Watch: Small business recovery during the pandemic

On Tuesday July 28, Axios Media Trends author Sara Fischer hosted the fifth of a six-event series on small business recovery across America, focusing on how female-led small businesses have innovated and used digital tools to pivot during the pandemic, featuring Nevada Sen. Jacky Rosen, National Association of Women Business Owners CEO Jen Earle and Sameka Jenkins, owner of Carolima’s Lowcountry Cuisine.

Sen. Rosen discussed her bipartisan work on helping to secure more funds for Nevada business owners, as well as how the hospitality industry in the state has pivoted.

  • How Nevada has innovated hospitality industry: "One thing that [Nevada] knows how to do is create an experience. [Casinos] have been designing this very cool Plexiglas [screen] that might go between slot machines or be used in restaurants...I think that some of those things may be exported to hospitality across the nation."
  • On working with small business owners to help them secure loans: "We're a large state in size, but small in population with about three million. So we're able to know each other, work together, and that's what's going to make this a success...Sole proprietors need to know that they can get these funds."

Jen Earle highlighted the obstacles that women encounter in securing loans and navigating unequal distribution of labor at home.

  • On unique challenges for women business owners: "Access to capital for women is a bigger issue...They've [started businesses] by bootstrapping, by utilizing credit cards, by using personal funding...They don't obviously have relationships with bankers."
  • How small businesses are central to their communities: "They support the nonprofits that are local. They support youth school programs, the soccer programs, things like that that really keep the economy vibrant."

Sameka Jenkins discussed her experience as a small business owner and how Carolima’s Lowcountry Cuisine has utilized social media to stay connected to their community.

  • How her business has leaned on digital tools: "[We've used] social media like Facebook, Instagram. We started doing live videos at the start of the pandemic...we've actually brought people into our home virtually and we've taught them how to prepare certain dishes."
  • How social media can keep members of a community close: "I think everyone's pivoted in their own way...For us, the videos were very helpful. Social media was very helpful...I think at this time, people want to see that transparency. People want you to share. People want to be a part of your lives. And they just want to know that, you know, we're all in this together."

Thank you Facebook for sponsoring this event.

Jul 28, 2020 - Health

Axios-Ipsos poll: The rise of coronavirus social bubbles

Data: Axios/Ipsos poll; Note: 1,076 U.S. adults were surveyed with ±3.1% margin of error; Chart: Naema Ahmed/Axios

Nearly half of Americans say they've established social "bubbles" of people they can trust to follow the rules for minimizing the risk of spreading the coronavirus, according to the latest installment of the Axios-Ipsos Coronavirus Index.

Between the lines: The trend isn't particularly partisan. It is most common in the suburbs and among women, older adults and people with college educations.