PeopleFund (formerly the Austin Community Development Corporation)
What they do
Founded in 1994, PeopleFund (formerly the Austin Community Development Corporation) provides innovative financial and technical assistance tools designed to build economic vitality for low-income people and in low-income communities. PeopleFund operates on the understanding that, when carefully marshaled, market forces can bring stability and new life to depressed neighborhoods. Through investment of capital and an array of business support services, PeopleFund views low-income communities as places of capacity and potential.
PeopleFund achieves its mission by making loans ranging from $20,000-$200,000 for small businesses, social service and affordable housing ventures. To build capacity of borrowers, PeopleFund provides one-on-one technical assistance and workshops to teach business owners and non-profit directors how to budget, use computer software, understand their financial statements, write a business plan, build projections, and improve marketing.
PeopleFund also serves as a researcher and innovator in the community, seeking to understand current barriers to prosperity and offering new ideas to build stability. PeopleFund convenes forums, conducts research, and provides direction to community projects. PeopleFund is also a partner with the East Austin Economic Forum, supporting speakers and collaboration meetings for East Austin entrepreneurs. PeopleFund is a federally certified Community Development Financial Institution (CDFI).
What we funded
Silverton Foundation provided grants to increase the size of the PeopleFund loan fund. This funding included amounts to secure a matching grant from the Community Development Financial Institutions Fund, enabling increased capacity for PeopleFund lenders to make loans to small businesses, non-profit organizations and affordable housing ventures in disadvantaged communities in south and east Austin.
Visit www.peoplefund.org for more information.