BIPOC Small Business Accelerator

Program Overview

PeopleFund’s BIPOC Small Business Accelerator provides underserved 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.

 Upcoming Cohort- Q2 2026

Our Q2 cohort will be 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 April 15th – June 3rd during 11AM – 1PM CST. The Q2 2026 application will open on March 2nd and will close on April 2nd.

Program Eligibility

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 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)
  • 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

 

Click Here to Apply

Program Partners

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.

 

Program Sponsors

The BIPOC 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].