Wealf Programs
The Women’s Enterprise Action Loan Fund is committed to helping all our entrepreneurs reach their business goals. Growing a business takes a sound development strategy, financial planning, capital, and determination. We have created special programs in addition to our core program of an interest-free loan and one-on-one mentoring for our women business owners providing them the skills necessary to make their businesses profitable and sustainable.
Wealf Next:
a strategic growth program with Babson College Center for Women’s Entrepreneurial Leadership
WEALF is partnering with the Center for Women’s Entrepreneurial Leadership (CWEL) at Babson College for a new strategic growth initiative designed specifically for WEALF participants. The online program focuses on taking entrepreneurs to the next level in their businesses.
As our participants grow their businesses the challenges to reach the next level are more complex. The Babson experience will provide an opportunity for our women to take a step back, look at what they have achieved, and develop an action plan to reach their business goals. As the first center to focus on women entrepreneurial leaders at a business school, Babson was the logical choice for WEALF to partner with to offer advanced decision-making skills to our women. Shakenna Williams, MBA, Ph.D., Executive Director of CWEL, has a special understanding of the challenges women face. In 2018, the Center was given the Excellence in Specialty Entrepreneurship Education Award by the Global Consortium of Entrepreneurial Leadership.
WEALF NEXT’S first cohort includes Jessica Spaulding, Harlem Chocolate Factory; Jennifer Fiore and Nina Lalli, MONDAYS; Annie Grossman, School for the Dogs; Denise Bogan, Breuckelen Cleaning Solutions; Mille Carbajal, M&M 24 Hour Daycare; Stacy Cole and Missy Koo, Brooklyn Piggies; Alex Crosier, Granola Lab; Rowena Scherer, Eat2Explore; and Gingie McLeod, SAINTCHIC. Each of the women participating has a business that is ready for a more advanced management and financial structure and is committed to dedicating the necessary time to this learning experience. WEALF mentors, Suzanne Jaffe, Caroline Mak, Leigh Denardo, Susan Ulin, Fabianne Gershon, Evelyn Kenvin, Dawn Lesh and Susan Dollinger, and Margaret Booth will play an active role in the program.
2020 WEALF NEXT FINANCIAL
Based on the success of the WEALF NEXT program, WEALF offered a second Babson collaboration, NEXT FINANCIAL program. Working with our entrepreneurs, it became apparent that the area where most of our women struggle is understanding financial information and how to use it effectively. Aside from the fear of the numbers, many don’t know the basic principles needed to run a profitable business. This program focused on gaining financial competency that enables business owners to preserve cash, best utilize available resources, and make the business as profitable as possible. By offering this series to our women, we hope to give them an important base from which to build.
The program consists of 4 online sessions with accompanying videos and written materials.
2020 WEALF Visionary Award
The Visionary Award was created to provide an opportunity for $25 grant to accelerated growth of a WEALF participant. The award was open to all WEALF participants who had repaid their first no-interest loan and continue to be in the WEALF program. Each applicant was required to submit a detailed feasibility plan with accompanying financial and marketing support to show how a lump sum of money would change the future of her business.
$25,000 WEALF Visionary Award winner was Kerri Quigley, founder of The Fashion Class. The three finalists in the competition each received a $2,500 award. The finalists were Autumn Adeigbo, founder of Autumn Adeigbo, Annabelle Santos of Spadet, and Grace Tappin, of Move With Grace. The prize is a vote of confidence and salute to the astonishing strength of WEALF women entrepreneurs who turn their business dreams into reality despite tremendous odds.
The judges were selected to provide a broad representation of women business leaders. The panel of judges were Yanki Tshering, founder, Business Center for New Americans; Jill Johnson, CEO, Institute for Entrepreneurial Leadership: Lorine Pendleton, Portfolio Manager, Rising America Fund; Kathryn Swintek, Managing Partner, Golden Seeds; Denise Kellen WEALF Board member, and Sybil Wailand, Managing Partner, Consumer Dynamics.