About Us
Impact
Education
- 6,389 microentrepreneurs served through educational presentations
Technical Assistance
- 1,041 microentrepreneurs (not in our loan portfolio) served with technical assistance & referred for low-cost and free resource referrals
Microloans
- Microloans funded: $2.4 million
- 97.242 repayment rate
- 65% woman-owned microbusinesses
- 39% minority-owned microbusinesses
- 50% startup and 50% existing businesses
- 64% low-income entrepreneurs
- 230 jobs created/retained
- 100 loans funded to date
- $1.04 of funds have been repaid
- $1.4 million in leveraged funds
- 17 businesses have graduated to conventional financing
- $24,084 average loan size
Technical Assistance Provided to Borrowers After Receiving a Microloan
- Ongoing monthly financial statement monitoring and quarterly meetings to check in and review financials
- Ongoing referrals for local free and low-cost resources
- Education Plans: Borrowers complete additional entrepreneurial training through workshops, classes, and consulting as part of their loan requirement within 6 months of receiving a loan
- Legal Clinics: Access to a 3-hour private session with a team of 4 corporate attorneys about the legal health of the business
- Access to opportunities to promote products/services through Working Solutions' network
- Opportunity to sell products at Working Solutions Annual Gift Fair each December attended by 400 people
- Access to mentors
- Opportunities to meet other like-minded entrepreneurs trying to grow their businesse and share resources.
Working Solutions Recognition:
- Novermber 2009 Working Solutions became a CDFI (Certified Financial Development Institution)
- 2009 Innovation in Technical Assistance Performance Service Award from California Resources and Training (CARAT)/California Economic Development Lending Initiative (CEDLI)
- 2008 Financial Services Champion of the Year Award - SF District Small Business Administration
