BIPOC Small Business Accelerator Application

Instructions

Thank you for your interest in applying for the BIPOC Small Business Accelerator with PeopleFund. This application is open to start-ups and existing small businesses in Texas. To apply, you will need to upload the following documents: a valid Texas-issued ID or Driver’s License, your complete and most recent filed tax return 2023, all pages), 2 most recent paystubs, your most recent personal bank statement, your most recent business bank statement (if available). This application should take approximately 20-30 minutes to complete and cannot be saved once you begin. If your application is not completed fully with the required documents, you will receive an automatic denial. Please email [email protected] if you have any questions.

About You

This section gives the selection committee information about you.

Full Name*

First and Last Name

Email*

Enter Email Confirm Email

Phone*

Which county is your business located?*

Veteran Status*

Gender*

Do you identify as LGBTQIA?*

Is the head of your household a female?*

How many people live in your household?*

Do you have an alternate source of income? (W-2 employment, W-9 contract work, retirement check, and/or veteran benefits etc.)*

What is your verifiable monthly net income? (verified by paystubs, tax return, benefits letter, child support decree, etc.).

What is your estimated annual total household income? (please include all members of your household's income)*

Please upload your complete 2023 IRS filed tax return. All pages and schedules are required.*

Drop files here or

Max. file size: 50 MB.

A PDF copy of your filed tax return is required, please make sure you submit all pages. If you submit an incomplete tax return, your application will be automatically denied.

Please upload 2 most recent paystubs.*

Drop files here or

Max. file size: 50 MB.

Please submit your most recent monthly payroll stubs from your employer and/or business.

Please upload your most recent personal bank statement. Transaction history not acceptable.*

Drop files here or

Max. file size: 50 MB.

Please submit a clear PDF copy of your most personal recent bank statement, all pages are required.

Please upload your most recent business bank statement. Transaction history not acceptable.*

Drop files here or

Max. file size: 50 MB.

Please submit a clear PDF copy of your most recent business bank statement, all pages are required.

About Your Business

This section gives the selection committee more information about your business. Please note, your business must reside the state of Texas.

Business Name (Legal Name)*

Business Name (DBA/Assumed Name, if applicable)

How is your business registered?*

If your business is not formally registered, your business registration will be a required document that will be requested during the loan process. One of our Small Business Advisors can assist you on the business registration process. *Registering a corporation or limited liability company may take a few weeks to receive documentation. A business registration is NOT your IRS EIN nor your Sales Tax Certificate.

When was your business established? (month and year).*

Please provide your IRS Employment Identification Number (EIN) (if applicable).

Business Physical Address (no P.O. Boxes)*

Street Address Address Line 2 City State ZIP Code

Please enter your business's website, if applicable.

Does your business have any additional social media accounts? If so, enter the name of the platform and account handle here.

Is your business fully operating?*

Has your business made any revenue within the last year?*

Do you utilize a business bank account?*

Please describe your business briefly (1-2 paragraphs max).*

Are you the sole owner of the business? If there are multiple owners, please list all owners and percentage of ownership for each.*

I understand that each owner with 20% of ownership or more, will need to submit a separate BIPOC Accelerator application.*

Do you currently have a PeopleFund loan?*

If you recieved a PeopleFund loan, what month and year did you close in?

Are you a previous participant of the BIPOC Small Business Accelerator?*

Are you a previous graduate of the BIPOC Small Business Accelerator?*

How did you hear about the Small Business BIPOC Accelerator?*

Program Eligibility

This section ensures that the program committee better understands your eligibility.

I understand that one of the following must apply, if not my application will be automatically denied: my business is located in a low to moderate income community, or that my home address is in a low to moderate income community, or that my household income is low to moderate.

Do all owners of the business live in Texas? (YES / NO). If no, please list the location and percentage of ownership in business.*

Are all owners in the business U.S. Citizens or Permanent Residents?*

Have any owners in the business filed for a bankruptcy, of any chapter, within the last 5 years?*

Are any of the business owners currently involved in active litigation?*

Have any of the business owners ever been convicted of a felony?*

If yes, please explain and include year of conviction.

Are any of the business owners currently past due on any federal obligations (child support, taxes, student loans, etc) or on a payment plan to get caught up?*

Are any of the business owners currently past due on any credit obligations or on a payment plan to get caught up?*

Is the business engaged in any of the following industries: adult entertainment, gambling or gaming, real estate investments or housing projects, passive activity (rental/investment), anything federally illegal, multi-level marketing, franchising, nonprofit activities?*

Program Readiness

This section helps the selection committee better understand how ready you are to commit to this program. Here, you'll answer questions in regards to program responsibilities.

I understand that if I am accepted to this program, I will be expected to commit to 8 virtual weekly education sessions and 5 business advising sessions between January-March 2025..*

A grant is awarded to those participants who complete all education requirements and who are approved and close on a PeopleFund loan before graduation. All grants are funded between 7-10 business days after the program graduation ceremony.

The goal of this program is to help small business owners access capital and education. By applying to this program, you understand that this program involves applying for a PeopleFund loan. The loan amount will determine eligibility for grant funds, with a minimum grant of $3,000 and a maximum amount of $5,000.*

I understand that if I am accepted into this program, I will be expected to complete the program requirements included in the BIPOC Client Agreement which includes education and loan requirements.*

I understand that if I graduate from this program, I will be expected to submit quarterly financial statements and be followed up with for the next 3 years.*

I understand that by applying for a loan under this program with PeopleFund, approval is reqiured by our Underwriting Department and I will need to open a business bank account and formally register my business (at least a DBA) if I have not done so already.*

Program Fit

This section helps the selection committee better understand how well of a fit you are for this program and will be utilized to narrow down program participants in the case that more eligible applications are received than program space.

Why are you interested in applying to the BIPOC Small Business Accelerator? What are your goals/what are you looking to gain from the program?*

What is your loan request amount?*

What is the minimum loan request amount, should you not qualify for the above amount?*

How will you use the loan funds? Please list a detailed breakdown use of funds with amounts.*

Please share anything additional that may help the program committee in their selection.

Credit Check Authorization

When you submit your application, PeopleFund will complete a soft pull on your credit. This is a soft pull (not a hard pull). It will NOT affect your credit score. Please ensure to remove any credit freeze/lock in order for PeopleFund to run a soft pull credit check. This section is where you will authorize the soft pull and provide additional details needed. For your security and to confirm your identity, a valid Texas issued identification card and/or drivers license is required.

Please provide a copy of your valid Texas issued identification or driver license.

Max. file size: 50 MB.

**Your identification is needed to verify all personal information for your soft pull credit check, it has no bearings on the decision of the selection committee.**

I authorize PeopleFund and/or its agents to make any investigations of credit either directly or through any agency which has credit information.*

Yes, I authorize.
No, I do not authorize and understand that my application may not be processed.

I understand that if I have a credit freeze or lock, this will delay the processing of my application.*

Yes, I understand and will have the credit freeze or lock lifted to process my application.

I understand that if I am approved for a PeopleFund loan I will be required to enroll in monthly auto-debit payments*

Agree.
I do not agree.

Social Security Number*

Date of Birth*

Home Address*

Street Address Address Line 2 City State ZIP Code

Please provide your physical home address, P.O. box addresses will not be accepted.

Home County*

Program Disclosures

This section provides program disclosures regarding program incentives, benefits, and application truthfulness. All questions in this section must be answered TRUE in order for you to be eligible for this program.

I understand by participating in this program, the grant attached to this program is dependent upon loan approval and completed program requirements.*

By submitting this application, I attest that all information provided is accurate and true to the best of my knowledge.*

BIPOC Small Business Accelerator Application