Entrepreneur Works Entrepreneur Works creates pathways of opportunity for talented entrepreneurs. Across the Philadelphia region, our clients start and grow small businesses, create jobs for themselves and their neighbors, and strengthen the local economy. Entrepreneur Works is a non-profit organization that offers access to loan capital, business training and one-on-one guidance to hundreds of entrepreneurs each year, empowering small business owners from all walks of life to prosper and build sustainable communities.
Networking or Employment Organization
Entrepreneur Works empowers Philadelphia-area entrepreneurs from all walks of life. Our purpose is to help underserved entrepreneurs overcome the challenges faced by most business owners as they start and grow their businesses. These barriers are especially acute for first-time entrepreneurs, low- to moderate-income individuals, racial and/or ethnic minorities, women, immigrants, and others who are unable to receive bank loans due to small loan sizes, poor credit, or a lack of business experience. Entrepreneur Works fills this void by offering individuals who have been turned away by traditional banks the chance to access loan capital and accompanying business guidance services.
At our core, Entrepreneur Works is fueled by the belief that all individuals - regardless of race, income level, or gender – deserve an opportunity to pursue entrepreneurship as a means of increasing their economic mobility. Many Entrepreneur Works clients successfully move into retail or commercial spaces and create full-time jobs for themselves and their neighbors. Other clients offer much-needed goods and services to their communities through home-based businesses, and use their small business income to supplement the income they earn from outside employment. These clients’ full-time wages are often insufficient to sustain themselves and their families, and the vital supplemental income they receive from their small businesses can make the difference between being able to pay monthly bills and falling short; between covering medical expenses and going further into credit card debt; between providing their children with basic school supplies and doing without.
On a larger scale, the entrepreneurs Entrepreneur Works supports contribute to a stronger local and regional economy. We help small business owners create local jobs for local residents – jobs that cannot be easily outsourced. Furthermore, new storefronts can spark the revitalization of struggling commercial corridors, thereby enabling these corridors to once again become anchors of their communities.
To meet the specific needs of underserved entrepreneurs, Entrepreneur Works offers the following: 1) Loans ranging in size from $500-$50,000; 2) Flexible collateral and credit requirements; 3) Capital to start-ups and others without prior business experience for purchases such as inventory, equipment, and marketing services; 4) Business development classes, workshops, and one-on-one assistance; and 5) Access to networks of business development professionals.
Since 1998 Entrepreneur Works has impacted approximately 4,000 small businesses and advanced 400 microloans, investing a total of $1.2 million directly into neighborhood businesses. In FY 2014 84% of our clients identified as members of a racial minority; 67% resided in low- to moderate-income households; and 59% were women.
PROGRAM DETAILS AND REQUIREMENTS
SUPPORTING VENTURES IN THESE SECTORS
- Arts, Culture, Handicrafts
- Civic Participation
- Clean and Green Technology
- Communications / Media / ICT
- Disaster Recovery
- Distribution / Supply Chain
- Employment, Livelihood, Income Generation
- Enterprise Development, SME
- Environment, Climate Change
- Fair Trade, Organic Products
- Financial Serv./Inclusion, Microfinance
- Food and Nutrition
- Housing, Shelter, Homelessness
- Natural Resources / Conservation
- Peace and Security
- Sanitation, Waste Management
- Training, Technical Assistance Services
- Web, SaaS, Online Tech
- Women, Girls
supporting ventures in these regions
- US, Canada
TYPES OF COMPANIES ACCEPTED
- For Profit