BIPOC Community-managed Loan fund
Meet the 2021 Loan Recipients!
Meet the 2021 recipients of BIPOC Community Managed Loan Fund!
14 Black, Indigenous, People of Color (BIPOC) Entrepreneurs and Business Owners selected for inaugural recipients of COMMUNITY MANAGED Loan Fund program that is providing nontraditional business capital. Loans are originated with no fees, are 0% interest and the loan fund is revolving so all repayments will be put back into the fund to support the next round of loans for BIPOC business owners.
- Bali Bock – Awareness Ranch
- Cortnie Smith – Cookinwitcort
- Da’Lice Shepard – Apostrophe Marketing
- Iwona Ash – Iwona Ash Design
- Jason Shered – Black Broccoli
- Julie Trotta – Fungirl’s Fungi
- Katrina Calderon – Regal Fierce Media
The creation of the program, including eligibility and underwriting criteria, the application process and loan decision-making has been led by a volunteer committee of BIPOC identifying community leaders, who discussed barriers to capital access for BIPOC communities and designed a transparent process to meet entrepreneurs/business owners where they are with the goal of helping them take the next big step in their business growth. The committee reviewed 50+ applications and requests for over $400,000 in loan capital before making final funding decisions.
The 14 business owners who were selected for the initial round of funding received financial education courses to learn more about their businesses’ financial positioning, and then finalize loan terms and close the loan. Startup Tucson is offering free support from any of their flagship programs as well.