Today we’re thrilled to kick off our Partner Spotlight blog series with Working Solutions, one of PCV’s Bay Area community partners and a wonderful resource to local entrepreneurs!
About Working Solutions
Working Solutions is a nonprofit micro-lender that provides qualified small businesses with between $5,000 and $50,000 in growth capital in addition to a free business consulting program. The business consulting program provides game-changing resources such as financial planning and analysis, events and workshops and one-one-one mentoring, which is provided to small businesses through their partnership with us! This combination of capital and consulting ensures the long-term success of borrowers, even past the life cycle of the loan.
Working Solutions clients get full access to PCV’s network of advisors, and we regularly refer PCV-advised businesses to Working Solutions if they are looking for $5,000-$50,000 in growth capital. This partnership allows us to provide as many entrepreneurs as possible with game-changing assistance and capital that helps them to grow and create quality jobs.
A Brief History
Working Solutions actually started off as a nonprofit that helped residents of low- to moderate-income find jobs. Their microloan program that they are known for today was created in 2005, and then in 2009 Working Solutions adopted the San Francisco Revolving Loan Program. The team is now 10 people strong and working with more small business owners than ever.
Working Solutions Loans
There are two different loan products available through Working Solutions, which you can see here on their website. As we’ve mentioned before, getting a small business loan isn’t all about a company’s financials, and Working Solutions looks at a number of things in addition to the numbers on an application.
The first is industry experience – does the entrepreneur have a strong background in the industry that their business operates in? A demonstrated knowledge of their field is a good indicator that a small business is well situated for growth. Another good indicator that a small business is a good loan candidate is a thoughtful business plan. This shows that an entrepreneur has thought through their obstacles and opportunities, and is prepared to take on capital that will help them grow. All of this being said, if an entrepreneur isn’t financially savvy it does not mean they are out of the game. Showing the willingness and commitment to learning is a critical piece of the puzzle.
Are you looking for a small business loan between $5,000 and $50,000? Check out a full list of minimum requirements for a Working Solutions loan here and apply today!