Applications are now being accepted for the Q2 cohort of PeopleFund’s BIPOC Small Business Accelerator program, providing underserved entrepreneurs in Texas with the capital, education and resources needed to support healthy business growth. Applications close April 2 with classes taking place every Wednesday from 11 a.m. to 1 p.m. April 15 through June 3.
Program participants commit to an orientation, a series of virtual training sessions, and assigned “homework”. Participants also receive access to technology and tools including LivePlan business planning software and an online curriculum for three months, expedited loan packaging and application support, and ongoing after-care provided by PeopleFund and its partners.
As a Community Development Financial Institution, PeopleFund’s work focuses on creating economic opportunity for low to moderate-income individuals and communities, and is open to all regardless of race, gender or creed. Participants must apply, be admitted to the program, and qualify for a PeopleFund loan product. Those who successfully meet all program requirements, close on their loan, and graduate may receive a grant between $3,000-$5,000 that can be used for equity injection or other legal business purposes.
The program is based on first-come, first-serve and we will admit the first 70 eligible applicants.
To qualify for the BIPOC Small Business Accelerator, applicants must be located in the state of Texas and demonstrate at least one of the following three criteria: their business is located in a low to moderate-income area; or the address of the individual is in a low to moderate-income area; or the household income of the participant is low to moderate-income.
Participants will have access to many resources, including qualifying for a PeopleFund loan product, connections to business and professional resources in the community, and networking opportunities within the cohort, among other things.