The initiative expands access to capital, training, and targeted support for underserved entrepreneurs.
Austin, TX – October 29, 2025 – PeopleFund proudly joined Cornerstone CDC, Forest Forward, St. Philip’s School & Community Center, and various other community organizations that came together to revitalize the Forest District in South Dallas. This group will activate a transformative $6.8 million philanthropic investment from Wells Fargo, announced on October 23, that will be used to support small businesses, housing, jobs and the revitalization of the Forest Theater.
A critical part of this initiative consists in providing resources to local entrepreneurs through a combination of targeted lending, training, and grants, focusing on communities that have limited access to capital. PeopleFund’s participation in this project includes three key components: a Small Business Accelerator, Targeted Microlending in the Forest District, and a General Small Business Support Program, designed to support sustainable business growth and inclusive economic development.
Through the Small Business Accelerator, PeopleFund will provide tailored training, coaching, and access to capital. PeopleFund seeks to graduate at least 100 small businesses from this program in the area, each receiving a loan and a grant to help launch or scale their businesses.
In the Forest District, PeopleFund will also deploy microloans of up to $50,000. Each one of these loans will include a generous interest rate buy-down and an accompanying grant to help business owners strengthen their financial foundation.
A portion of Wells Fargo’s grant funding will be used to bolster PeopleFund’s broader lending and educational programming throughout Dallas Fort Worth expanding capacity to serve more entrepreneurs through accessible financing, advisory support, and financial literacy resources.
PeopleFund programs are open to individuals from all backgrounds, regardless of gender, race or creed.
This partnership reflects a shared commitment to fostering equitable economic opportunity in North Texas and advancing the success of small business owners who are building stronger, more resilient communities.
About PeopleFund
PeopleFund is a nonprofit Community Development Financial Institution (CDFI) and SBA Lender dedicated to providing affordable loans and business advisory services to underserved entrepreneurs in Texas. Since 1994, PeopleFund has delivered over $250 million in financial assistance to nearly 6,000 small businesses, helping create or retain more than 25,000 jobs. The cumulative direct impact of PeopleFund on the Texas economy has surpassed $1.2 billion. For more information about PeopleFund, its products and services, visit: https://peoplefund.org/
Contact Information
PeopleFund:
Jenny Palecek, SVP. Philanthropic Relations, [email protected]