Memorandum of Agreement Outlines Role for Each Organization to elevate small business in Dallas
Dallas, Texas – Access to capital is a serious road block for small business growth. The Greater Dallas Hispanic Chamber of Commerce (GDHCC) and PeopleFund announced today an exciting partnership to provide training and capital for Chamber member business owners. The GDHCC will provide training and resources to get business owners loan ready. PeopleFund has made a $500,000 offer of loan capital to GDHCC businesses.
GDHCC, President Ricardo Ortiz, remarked, “We owe it to our members to support their business endeavors .The combination of training and capital is a proven formula for small business success” PeopleFund has a 20 year track record of support to minority owned businesses. According to PeopleFund President & CEO, Gary Lindner, “Through its visionary leadership, the GDHCC has created a model entrepreneur training program. For that reason, we are able to offer very favorable loan terms to program graduates”.
Strategic partnerships are beneficial for the advancement of small businesses which stimulate the Texas economy. The Greater Dallas Hispanic Chamber and PeopleFund are proud to be a part of an initiative that will inspire, train, fund, and elevate Dallas small businesses.
Greater Dallas Hispanic Chamber of Commerce
The mission of the Greater Dallas Hispanic Chamber of Commerce is to grow and support the Hispanic business community in North Texas. For more information, visit www.gdhcc.com or call 214.521.6007.
Peoplefund is a 501(c)3 nonprofit organization headquartered in Austin, Texas.. Established in 1994, it is a U.S. Treasury certified Community Development Financial Institution (CDFI) and SBA certified lender. PeopleFund provides business loans up to $250,000 to Texas businesses that lack access to traditional financing. It also provides clients business assistance and education. 89% of loans are to a target market of minority, women, and veteran business owners and those residing in low to moderate income census tracts. Over 50% of loans go to startup businesses and high social impact nonprofits. Through access to capital and education, PeopleFund creates economic opportunity and financial stability to build healthy small businesses