BIPOC Small Business Accelerator Program – Texas

BIPOC Small Business Accelerator Program – Texas is sponsored by PeopleFund. Provides underserved entrepreneurs in Texas with capital, education, and resources to support business growth.

PeopleFund Small Business Accelerator is Now Serving the South Texas Region PeopleFund Small Business Accelerator PeopleFund’s Small Business Accelerator provides entrepreneurs in Texas with the capital, education, and resources needed to support healthy business growth. As a Community Development Financial Institution, our work focuses on creating economic opportunity for low to moderate-income individuals and communities.

Staying true to our vision and values, this program is open to all regardless of race, gender or creed. 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 3 months, expedited loan packaging and application support, and ongoing after-care provided by PeopleFund and our partners. 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. Our Q3 cohort is open statewide to entrepreneurs who reside in or serve low-to-moderate income communities in the State of Texas. The program is open to start-up and existing businesses.

If accepted into the program, please note that classes will be held every Wednesday from July 15th – September 2nd during 11AM – 1PM CST. Applications are open now and will close on July 3rd . The program is based on first-come, first-serve and we will admit the first 70 eligible applicants .

To qualify for the PeopleFund 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 Participants will have access to: Qualify for a PeopleFund loan product (dependent on approval) A grant amount between $3,000 and a maximum of $5,000 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 If you have any questions regarding our Small Business Accelerator Program, please contact our team at [email protected] .

This program is made possible through partnerships with business support, education, and technical assistance-based organizations in the community. Interested in partnering on a future cohort? Contact Amy East, Manager of Philanthropic Partnerships & Fund Development, at [email protected] for more information.

The PeopleFund Small Business Accelerator is made possible by a generous seed grant from Truist Foundation, along with a co-investment from Austin Community Foundation. Additional support was provided by our generous donors: If you would like to become a sponsor of this program, please contact Jenny Palecek at [email protected] .