BIPOC Small Business Accelerator

The PeopleFund’s BIPOC Small Business Accelerator provides underserved entrepreneurs in Texas with the capital, education, and resources needed to support healthy business growth. Donor Name: PeopleFund State: Texas County: All Counties Type of Grant: Training or Mentorship Deadline: (mm/dd/yyyy) 08/31/2024 Size of the Grant: $1000 to $10,000 Grant Duration: Grant Duration Not Mentioned Details: 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 6 months, expedited loan packaging and application support, and ongoing after-care provided by PeopleFund and the partners. Participants must apply, be admitted to the program, and qualify for a PeopleFund loan product. Funding Information A grant amount between $3,000 and a maximum of $5,000. Eligibility Criteria  To qualify for the BIPOC Small Business Accelerator, applicants must meet the following criteria: Must be located in the state of Texas Participants must demonstrate at least one of the following three criteria: Their business is located in a low to moderate-income area OR That the address of the individual is in a low to moderate-income area OR That the household income of the participant is low to moderate-income Open to start-up and existing businesses Must be able to support a loan payment through available global cash flow Must meet credit and lending qualifications No bankruptcies within the last 5 years U.S. Citizen or Permanent Resident Not currently in active litigation Not currently past-due on federal obligations or are on a recovery plan Total collections, derogatory marks, and past due items cannot exceed 10% of the total loan amount up to $5,000 Not involved in felony-level criminal activity, crimes of moral turpitude, or financial Not engaged in any of the following industries: adult entertainment, gambling or gaming, real estate investments or housing projects, passive activity (rental), anything federally illegal, multi-level marketing, and nonprofit activities. Program Benefits Participants will have access to: Qualify for a PeopleFund loan product (dependent on approval) Connections to business and professional resources in the community Completion of a business plan, financial statements, and capital portfolio Access to tools and technology including LivePlan business planning software and the Verizon Digital Ready Program Curriculum guide within an online learning platform Ongoing support and aftercare through dedicated business coaching and mentorship Networking opportunities within the cohort. For more information, visit PeopleFund.