Approach
PeopleFund strives to promote lasting economic vitality for low-income people by implementing strategies that create jobs, provide safe and affordable homes, and promote good economic policy decisions for low-income communities.
With a 13 year track record, PeopleFund has advanced our Mission through high impact financing strategies that achieve social and economic opportunity. We have made over 265 loans totaling almost $16 million to small businesses, schools, healthcare providers, and to develop affordable homes.
PeopleFund also strives to further knowledge and innovation in the field of community development. Through our Community Education programs we bring the leaders, business owners and residents together to engage in discussions around building a region that is rich in both opportunity and spirit.
As the Austin region grows, one of the central challenges is ensuring that all people have a safe and stable place to live. Expanding opportunities for homeownership and quality housing is an integral component to promoting an equitable and prosperous region over the long term. PeopleFund is working hard through our Capacity Building Program and soon to be launched, Community Land Trust, to address our region’s need for homes.
PeopleFund’s current programs include:
Loan Fund
In 2008, PeopleFund will invest $2.6 million in loans to approximately 34 community ventures and facilitate $3.6 million in total investment (i.e., PeopleFund loans and partnership loans) in PeopleFund’s low-income focus areas. At least 70% of these loans will be made to minority-owned businesses.
Entrepreneur Development Program
PeopleFund offers business management consulting in marketing, finance and other areas to help clients create strong, sustainable ventures. In 2008, PeopleFund plans to offer at least 1,600 hours of financial education through innovative programs including: one-on-one mentoring, advisory board programs, workshops, and partnerships with University MBA programs.
Community Housing Trust
PeopleTrust Community Land Trust will increase the number of affordable housing units created for households at 65% of the median family income and below by 80 in 2008 through shared-appreciation loans and land trust houses.
Community Education and Research
PeopleFund believes that discussion and knowledge are critical to a rich civic life. In 2008, PeopleFund will host several public forums to build knowledge and stimulate conversation. PeopleFund will also continue to facilitate the Focus East.
PeopleFund operates on the understanding that, when carefully marshaled, market forces can bring stability and new life to depressed neighborhoods. This requires PeopleFund to maintain an active relationship with the market environment through investment of capital and an array of business support services. Through our investments, we view low-income communities as places of capacity and potential.
PeopleFund is a federally certified Community Development Financial Institution (CDFI).
