Dallas, TX – On May 5th, 2017, Opportunity Plus announced a partnership called “EmpowHER: Financial Inclusion for Dallas Women” with PeopleFund, a nonprofit community development financial institution, and their Women’s Business Assistance Center. Opportunity Plus, a Dallas-based nonprofit organization, supports and funds financial inclusion programs that reduce vulnerability to financial disruption through self-employment and increase community engagement through leadership and business training. Opportunity Plus awarded a $25,000 grant to PeopleFund to support the small business loan needs of a cohort of 8 women entrepreneurs from Dallas through a combination of microloans and educational workshops.
The loans to the women entrepreneurs are 12 month loans, repayable monthly and due mid-2018. This program will also be supported by 12 monthly curriculum workshops between June 2017-2018 and will facilitated by local industry professionals and mentors. Some of the workshop topics include Goal Setting and Measurement, Personal and Business Branding, Resource Leverage and Management, Financial Statement Analysis, Scaling and Expansion and Lead Generation.
EmpowHER combines careful mentorship, classroom instruction, and microloan capital to a cohort of 8 emerging women. Together, this cohort will work through business challenges and lift up one another as they learn from community leaders and field experts. Participants will receive a microloan of $1,000-$5,000, and additional capital if eligible at the end of the program. Participants will graduate from the program with capital and strong connections to their community and their fellow EmpowHER entrepreneurs. When the loans are repaid, the funds will be available for the next cohort of women entrepreneurs to benefit from, creating an efficient and sustainable cycle of support for hundreds of women over the next few years.
Founder of Opportunity Plus, Ami Doshi said, “We’re certain that access to both financial and educational resources, and the ability to network and support each other, will create higher chances of success in their endeavors. I am looking forward to watching their progress over the year and understanding their successes and challenges together. ”
PeopleFund Director of Education and Advancement, Amber Cooney commented, “We are honored to work with Opportunity Plus to create economic opportunity and empower women entrepreneurs in Dallas.”
Eligibility for the program is based on business plans, credit, and is subject to loan underwriting. For more information please contact Tassjania Lozano, Women’s Business Assistance Center Manager at [email protected] or 469.998.0438.
PeopleFund is a registered 501(c)3 nonprofit organization 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 $350,000 to Texas businesses that do not qualify for bank loans. It also provides client business assistance and education. The target market is minority, women, and veteran business owners and those residing in low to moderate income census tracts. Over 40% of current loans are to startups and non-profit organizations. Through access to capital and educational opportunities, PeopleFund creates economic opportunity and financial stability for underserved people to build healthy small businesses. PeopleFund inspires, educates, funds, and elevates entrepreneurs on the path to prosperity and the American dream.
Formally Milaap USA, Opportunity Plus is a registered 501(c)3 nonprofit organization. Through strategic partnerships with global partners, Opportunity Plus reduces vulnerability to financial disruption through self-employment and increase community engagement through leadership and business training. Their mission is to support progress through opportunity, not charity. Opportunity Plus funds and strengthens innovative and scalable financial inclusion and affordable microloan programs around the world. It promotes long-term societal progress by improving income stability while placing equal value on the ability to lead fulfilling lives with dignity.