The PeopleFund’s BIPOC Small Business Accelerator provides underserved entrepreneurs in Texas with the capital, education, and resources needed to support healthy business growth.
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 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
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