Dallas, Texas – The North Texas Small Business Development Center awarded PeopleFund the title of “Outstanding Lender” 2012 for the organization’s work with entrepreneurs, small business owners, and nonprofit leaders in the greater Dallas/Fort Worth MSA in front of a crowd at Deal Day, a lending event put on by the Dallas Small Business Development Center. More than twenty other banks, microlenders, and financial institutions were present.
PeopleFund, which acquired the Dallas-based PlanFund this past March, operates out of Austin and Dallas to provide small business loans and educational opportunities to businesses and organizations rejected by traditional banks. PeopleFund recently received funds from the South Dallas Fair Park Trust to support small businesses, primarily minority-owned operations serving low-income populations, in the South Dallas area.
According to PeopleFund’s Director of Lending, Lesa Cox, more than 32 applications were submitted by interested entrepreneurs in the first half of this year. “I am very optimistic about our opportunity to meet the needs of underserved clients in the Dallas area,” explains Cox. “Winning the outstanding lender award means a great deal to our organization as we try to bring services into the Dallas market and make connections with vital partners like small business development centers.”
Cox continues, “According to the 2010 census, 44% of all census tracts in the Dallas/Fort Worth metroplex are low income, roughly 2.3 million Texans. We are looking to support businesses and create jobs where we see the greatest need, and there is a significant need here in Dallas.”
PeopleFund offers financial products of up to $250,000 and supports local businesses with workshops, individualized mentorship, and other educational opportunities. To serve the populations in greatest need, PeopleFund is dedicated to serving businesses, start-ups, and nonprofits owned by minorities, women, veterans, ex-offenders, as well as businesses operating in low-income areas. The organization seeks to create social and economic justice by growing small businesses, creating jobs, and enabling local economies.
PeopleFund will receive recognition of the award again at the North Texas Association of Government Guaranteed Lenders meeting later this Autumn.