Business Growth & Access to Capital (BGAC) Loan Fund
Funding Amount
$2,500 - $10,000
Deadline
Rolling / Open
Grant Type
foundation
Overview
Business Growth & Access to Capital (BGAC) Loan Fund
Overview: A partnership between the Veteran Women's Enterprise Center (VWEC) and PeopleFund to support business growth and access to capital for women veteran and female military spouse entrepreneurs.
- Total Fund: $100,000 - $20,000 grant from American First National Bank - $80,000 match from PeopleFund
- Loan Range: $2,500 - $10,000
- Interest Rate: Fixed 3%
- Maximum Loan Term: 12 months
- Collateral Required: None
- Minimum Credit Score: None
Fund Details
- VWEC Referral Required (mandatory)
- Must be a woman veteran and/or female military spouse entrepreneur
- Sole proprietorships and 1099s are eligible
- Must provide proof of honorable discharge from military service OR written explanation for other than honorable discharge OR currently serving
- Business must have been operating for more than 12 months (shorter periods must demonstrate viable growth via revenues and/or contractual relationships)
- Must show ability to repay based on underwriting guidelines
- No material derogatory items on credit or TLO reports (exception approvals considered on case-by-case basis with mitigating circumstances)
Eligibility Requirements
- Increased access to low-interest rate loan options
- Increased business growth opportunities
- Affordable access to capital
- Economic development stimulus in the region
Benefits
Application Process (3 Key Activities Required)
1. Connect with the Veteran Women's Enterprise Center 2. Complete VWEC's Mandatory Pre-Screening and Business Financial Training 3. Secure a Referral to submit a complete online BGAC ApplicationGeographic Scope
Texas (Dallas-based)- Email: info@veteranwomensec.org
- Phone: 469-777-VWEC
- Physical Address: 5201 East R L Thornton Freeway, Dallas, TX 75223
- Mailing Address: 7324 Gaston Avenue, Suite 124-432, Dallas, TX 75214
Contact Information
How to Apply
How to Apply
1. Connect with VWEC - Reach out to establish a relationship with the center
2. Complete Pre-Screening - Participate in VWEC's mandatory pre-screening process
3. Business Financial Training - Complete VWEC's business financial training
4. Secure Referral - Get a referral from VWEC to apply
5. Submit BGAC Application - Complete and submit the online BGAC application
- Participate in all 3 key activities (Connect, Pre-Screening/Training, Referral)
- Demonstrate business viability and growth potential
- Provide complete financial documentation as part of underwriting
Key Eligibility Activities
Focus Areas & Funding Uses
Fields of Work
Categories
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