PeopleFund is among 32 community-based organizations selected to receive
funds to help older adults build the skills to work for themselves
Austin – AARP Foundation has awarded a grant to PeopleFund to conduct Work for [email protected]+℠ workshops in Austin, Houston, and Dallas. This national grant initiative is designed to help vulnerable older adults assess opportunities for self-employment, build skills, and connect with resources that will enable them to generate income by working for themselves.
PeopleFund, a nonprofit community development financial institution and business education provider, has helped create thousands of jobs and empowered underserved entrepreneurs on a path to financial stability and independence.
“For many low-income older adults, self-employment and business ownership is an opportunity to change their future,” said Emily Allen, Senior Vice President AARP Foundation Programs. “AARP Foundation is proud to work with organizations like PeopleFund who are committed to helping older adults successfully run their own business. Our Work for [email protected]+ program is designed to enable older adults to pursue self-employment by connecting them with trustworthy resources in their own communities.”
President & CEO, Gary Lindner commented, “We are honored to partner with AARP Foundation to elevate encore entrepreneurs. Life’s second stage offers the chance to re-engage with childhood dreams and lifelong passions. The AARP Foundation Work for Your[email protected]+℠ program brings these ambitions to life, and we’re proud to bring this opportunity to Texas.”
Through a nationwide open request for proposals, AARP Foundation, with support from The Hartford, identified and then selected promising organizations in high-need communities to receive grant awards and implement the Work for [email protected]+ workshop model. The workshops help low-income adults 50 and older understand the pros and cons of self-employment and support them through the early steps that can lead to success.
“The Hartford is excited to work together with AARP Foundation on the Work for [email protected]+ program, empowering mature adults to build on their potential and to prevail as independent entrepreneurs,” said Diane Cantello, head of Corporate Sustainability for The Hartford. “Self-employment creates small businesses that contribute to the stability and vitality of their local communities.”
Working with AARP Foundation, each grantee will put together a plan in its community to:
- Publicize Work for [email protected]+ resources and workshops to potential entrepreneurs
- Host and facilitate a 90-minute introductory workshop, designed by AARP Foundation, to walk participants through the Work for [email protected]+ materials
- Connect program participants with local, accessible resources to help them take action on their income-generation plans
In addition to receiving grant funds, grantees will also participate in a community of practice and regular assessment to help build a body of knowledge about effective older-adult services and programs.
Creating and owning a business has long been heralded as a path to financial success and economic mobility; low-income older adults, however, face unique hurdles when re-entering the workforce in a nontraditional capacity. AARP Foundation’s and The Hartford’s investment in these grantees seeks to improve the lives of vulnerable populations by supporting and advancing effective solutions.
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.
About AARP Foundation
AARP Foundation works to ensure that low-income older adults have nutritious food, affordable housing, a steady income, and strong and sustaining social bonds. We collaborate with individuals and organizations who share our commitment to innovation and our passion for problem-solving. Supported by vigorous legal advocacy, we create and advance effective solutions that help struggling older adults transform their lives. AARP Foundation is the affiliated charity of AARP.
About The Hartford
The Hartford is a leader in property and casualty insurance, group benefits and mutual funds. With more than 200 years of expertise, The Hartford is widely recognized for its service excellence, sustainability practices, trust and integrity. More information on the company and its financial performance is available at thehartford.com. Follow The Hartford on Twitter at twitter.com/TheHartford_PR.
The Hartford Financial Services Group Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, Conn. For additional details, please read The Hartford’s legal notice at thehartford.com/legal-notice.