Equality Can't Wait Challenge

Equality Can't Wait - Women in Business Loan Fund

DreamSpring

The Equality Can't Wait - Women in Business Loan Fund will provide low-interest, partially forgivable loans and wraparound support to under-served women looking to start or grow a business.

Last Updated: January 2022
Competition Participation
Equality Can't Wait Challenge
Equality Can't Wait Challenge
Subject
Entrepreneurship
Current Work Location(s):
  • Arizona, United States
  • Nevada, United States
  • Texas, United States
  • Colorado, United States
  • New Mexico, United States
  • Florida, United States
  • New York, United States
  • Washington, United States
  • North Carolina, United States
  • Georgia, United States
Priority Population(s):
  • Women
  • Immigrants
  • Low-income people
Sustainable Development Goals (SDGs):
  • 1. No poverty
  • 5. Gender equality
  • 8. Decent work and economic growth

Executive Summary

DreamSpring's Equality Can't Wait - Women in Business Loan Fund will grow women entrepreneurs' potential to become catalysts for positive socio-economic change in their communities. By providing underserved women with low-interest, partially forgivable business loans and wraparound support, we will help bridge opportunity gaps that have limited women's power and influence across broad sectors of our society. Due to inequitable access to capital and other barriers, women are 40% less likely to start a business than men – a gap that has persisted for 25 years. Although women-owned businesses represent 42% of all businesses in the U.S., they represent only 8% of the private sector workforce and 4.3% of total revenue. Moreover, female business owners, especially Black women, have been disproportionately affected by the COVID-19 crisis. We will unlock $23.5 million in capital for 3,000 low-to-moderate-income and/or minority women entrepreneurs, supporting 7,500 jobs and enabling women to achieve financial security for themselves and their families.

Organization Details
Lead Organization

DreamSpring

website: https://dreamspring.org
Organization Headquarters
New Mexico, United States
Organization ID
85-0417347
Number of Full-time Employees
51 to 100
Annual Operating Budget
$10.1 to 25 Million
Type
Non-profit

Charity, fund, non-governmental organization, religious institution, school, or other entity

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