Giving Credit where Credit is Due
A WEALF LOAN RECOGNIZES THAT A WOMAN WHO HAS CREATED A BUSINESS AND IS DETERMINED TO MAKE IT WORK DESERVES THE FINANCIAL SUPPORT TO FUEL IT.
The Women of WEALF are as diverse as their businesses
Women’s Enterprise Action Loan Fund is a loan fund for women-owned businesses in New York City and the outer boroughs. WEALF acknowledges the struggles of women founders who have the courage, creativity, and tenacity to create businesses, despite being denied access to commercial credit. During the past ten years our experience proves time after time, no matter their age, zip code, or ethnicity, these entrepreneurs are creditworthy.
Vicki Weiner
Founder WEALF
OUR MISSION
We aim to help these women become financially self-sufficient through their businesses. no matter the type of business, size, or the founder’s aspirations. First loans up to $10,000 are interest-free. Additional rounds of financing are provided at 3 percent. No WEALF loan requires collateral, a guarantor or minimum level of revenues to qualify.
OUR LOAN PROCESS
The WEALF Board of Advisors meets with each program candidate to assess the business based on its future potential rather than past performance. We learn about each woman’s journey, commitment, and ambition. A woman accepted into the program, her loan granted, is coupled with a professional woman mentor offering practical guidance and support to help maximize the opportunities of the loan.
Our approach is a winning combination for WEALF Participants. With a WEALF loan, administered through our partner, Accompany Capital, an SBA lender, our women establish a commercial credit relationship and as loans are repaid a credit rating.
OUR IMPACT
WEALF has loaned over $900,000 to over 80 women founders who otherwise would not been able to receive funding. They are growing their businesses, making money AND ON THE WAY TO FULFILLING THEIR DREAMS. During the pandemic, WEALF participants were readily approved, and they received over $1.5 million in PPP, EIDL, and special program grants. WEALF loans with mentoring adds value to their business, With an over 90% repayment rate, WEALF can offer additional rounds of financing for special projects or working capital and new loans to applicants.
Share our vision, as a woman founder seeking an interest-free loan, a mentor, or investor, WEALF’s goal is to applaud the achievements and dedication of women to found and manage an ongoing business by willingly taking the risk to offer commercial credit and mentoring to become financially self-reliant.
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