Established in 1994, PeopleFund has almost 30 years of experience as a nonprofit CDFI serving small businesses across Texas and helping thousands to financial security and independence. With ten offices across Texas, PeopleFund focuses on helping underrepresented entrepreneurs, especially people of color, women, veterans, individuals of low to moderate income, and those in hard-to-reach areas.
During the pandemic, PeopleFund served as first responders for small businesses in service of all people, significantly increasing its lending and educational programs. In 2020 and 2021 total, PeopleFund deployed $70 million in loans and grants to 3,379 small businesses and provided 15,260 entrepreneurs with 51,245 hours of free business education and technical assistance.
Borrower Story: PeopleFund client Barbara Oldums founded her business, Industrial Solutions in 2011 with her husband Leonard. As a distributor of safety and janitorial supplies, she describes how the company pivoted quickly to address the pandemic:
“Nobody was prepared for what the pandemic would bring, but we focused on figuring it out and doing the best for our customers. Despite all that’s happened this year, we are growing and hiring. However, it’s been a journey to get to this point. In 2017, I had the opportunity to meet Erika, a loan officer at PeopleFund. She helped us obtain a $25,000 loan which helped us secure some big contracts we had been trying to close. 2018 is when we got a $50,000 loan from PeopleFund. I was so overwhelmed with joy I cried at my desk. It helped us take our business to the next level…I really appreciate everything PeopleFund has done for us.”
As COVID-19 spread across the greater DFW community, the Oldums expanded their glove and disinfectant offerings to help keep their clients’ businesses operating safely. Their partnership with the Texas Rangers helped supply PPE to the team’s home ballpark Globe Life Field in Arlington, enabling the park to resume games and safely host the 2020 World Series. The Oldums were honored by the team, receiving the 2020 Jackie Robinson Diverse Partnership Award.
Back to all Making A Difference Stories