Quick take
- PeopleFund, a nonprofit lender certified as a community development financial institution, is expanding into the Texarkana area, TXK Today reported.
- Amber Keith, who for years ran the Small Business Development Center out of Texarkana City Hall, is leading the local effort. That center closed this year.
- Business owners who finish PeopleFund’s eight week workshop program and get a loan of at least $3,000 can qualify for a $3,000 to $5,000 grant, Keith said.
- Free event: PeopleSource, 11 a.m. to 1 p.m. Thursday, Nov. 5, in the Tri-State Iron and Metal Atrium, third floor of the Anita and Truman Arnold University Center, 7101 University Ave. Advance registration is required at peoplefund.org.
- PeopleFund plans an office in The Assembly Line, the downtown business incubator, once that building is done.
Texarkana small business owners have a new place to look for money and advice. PeopleFund, a nonprofit lender that works across Texas, is expanding into the area with loans, a grant linked training program and business advising, TXK Today reported.
Leading the local effort is Amber Keith, who for years ran the Small Business Development Center out of Texarkana City Hall. That center closed this year. Keith told TXK Today that PeopleFund’s loan programs can be more flexible than a traditional bank or the SBA. She said they can sometimes work around imperfect credit or a lack of collateral. It offers SBA microloans, 504 loans and 7(a) loans, among others.
Grants tied to training
PeopleFund runs an eight week program of weekly workshops. Participants who finish it and get a loan of at least $3,000 can qualify for a $3,000 to $5,000 grant, Keith said. She said Texarkana has never had a program like it.
Free event Nov. 5
PeopleFund’s first local event, PeopleSource: Access to Capital and Small Business Resources, is 11 a.m. to 1 p.m. Thursday, Nov. 5, at Texas A&M University-Texarkana. It will be in the Tri-State Iron and Metal Atrium on the third floor of the Anita and Truman Arnold University Center, 7101 University Ave. The event is free, but you need to register ahead at peoplefund.org.
TXK Today reported that representatives from Regions Bank, The Assembly Line, the Texarkana USA Regional Chamber of Commerce, the city of Texarkana, Texas, economic development office, Workforce Solutions Northeast Texas and the SBA’s Arkansas and Texas offices are among those expected to attend. PeopleFund plans to open an office in The Assembly Line, the new downtown incubator, once the building is finished.