CANOGA PARK : Businesswomen Thank Benefactor

The owner of a Sherman Way antiques store that was badly damaged in last year’s Northridge earthquake said thanks in a special way Friday to the philanthropist who loaned her and other hard-hit businesswomen money to rebuild.

Nikki Berry hosted a party to honor New York stockbroker Muriel Siebert, who pledged $124,648 in loans to women whose businesses were damaged or destroyed by the quake. The 10 businesswomen on hand for Friday’s party received loans of between $10,000 and $15,000 each.

Berry said her store--the Antique Co.--might never have reopened without Siebert’s loan of $13,650.

“It’s really hard for a woman to get loans unless you have a traditional business,� said Berry, who has operated the store for 20 years. “I can’t go to a bank and ask for a loan, they would laugh at me.�

The terms of the loans require no interest if repaid on time. Otherwise the rate will be 2%.

Siebert told the women that she arrived in New York in 1954 “with $500 in my pocket and driving a beat-up old Studebaker.� According to a biography provided by Siebert, she established the first woman-owned firm to become a member of the New York Stock Exchange.

“I was turned down by a bank for a loan when I bought my seat on the stock exchange,� Siebert said. “I feel a lot of satisfaction in giving that little push to the woman who has that entrepreneurial drive.�

After she spoke, Siebert was embraced by one of the women, Dori Grainer, who owns the Happening, a Sherman Oaks coffeehouse.

“I just want you to know that I admire you so much,� she told Siebert. “I think what you are doing is so great.�

The Los Angeles Women’s Entrepreneurial Fund, which Siebert established in 1992, has also assisted women whose businesses were damaged or destroyed by the 1992 riots, Siebert said. To date the fund has loaned $335,248 to 38 businesses.

The fund will also help businesses affected by recent floods, Siebert said.

Los Angeles City Councilwoman Laura Chick, who was on hand Friday, praised Siebert and added that the city is doing all it can to help female- and minority-owned businesses. That includes ensuring that the city adheres to affirmative action laws in awarding city contracts, she said.

Chick said her office tries to find financial assistance such as loans for women entrepreneurs. “When we hear about low-interest loans, we scramble to make sure women entrepreneurs know they are available,� she said.