BIPOC Small Business Accelerator Program – US

Deadline: 4 January 2024

PeopleFund’s BIPOC Small Business Accelerator provides entrepreneurs of color with the capital, education, and resources needed to support healthy business growth.

BIPOC refers to Black, Indigenous, People of Color, which includes anyone who identifies as Hispanic, Latinx, Native American, Native Hawaiian, Alaskan Native, Desi, Asian, or Pacific Islander.

Program participants commit to an orientation, a series of virtual training sessions, and “homework” assigned in between training sessions over the course of 3 months. Participants also receive access to technology and tools including LivePlan business planning software and an online curriculum for a period of 6 months, expedited loan packaging and application support, and ongoing after-care provided by PeopleFund and the partners.

Program Benefits

Participants that successfully complete the training will have access to:

A loan for up to $50,000 (dependent on approval)
A grant for up to 10% of the loan amount (dependent on approval and to be used for specified purposes)
Connections to business and professional resources in the community
Completion of a business plan, financial statements, and capital portfolio
Access to tools and technology including LivePlan business planning software and the Verizon Digital Ready Program
Curriculum guide within an online learning platform
Ongoing support and aftercare through dedicated business coaching and mentorship
Networking opportunities within the cohort

Program Eligibility

To qualify for the BIPOC Small Business Accelerator, applicants must meet the following criteria:

Must self-identify as BIPOC (Black, Indigenous, Person of Color) – which includes anyone who identifies as Hispanic, Latinx, Native American, Native Hawaiian, Alaskan Native, Desi, Asian or Pacific Islander
Must be located in the state of Texas
Open to start-up and existing businesses
Must be able to support a loan payment through available global cash flow
Must meet credit and lending qualifications
No bankruptcies within last 5 years
U.S. Citizen or Permanent Resident
Not currently in active litigation
Not currently past due on federal obligations or are on a recovery plan
Not currently past due on credit obligations or are on a recovery plan
Total collections, derogatory marks, and past due items cannot exceed 10% of the total loan amount
Not involved in felony-level criminal activity, crimes of moral turpitude, or financial
Not engaged in any of the following industries: adult entertainment, gambling or gaming, real estate investments or housing projects, passive activity (rental), anything federally illegal, multi-level marketing, and nonprofit activities.