First to Believe: Announcing Our FY2021 Impact Results
Working Solutions is pleased to announce our FY21 results: we continue to grow our impact, with $6.3 million in capital deployed to 876 small businesses in FY2021—a 40% increase over our last, already tremendous fiscal year. Paired with over 8,000 hours of free business consulting, these results show the ongoing need that small businesses have for Working Solutions, especially in these challenging times.
Our growth as a volume microlender and capital access provider has been exponential over the past five years. As of the end of September, we have deployed $33.6 million in capital to Bay Area small businesses. We are proud to be two-thirds of the way to our five-year goal of deploying a total of $50 million by FYE2024.
Most importantly, we are continuing to serve our priority populations, with all-time lending capital deployed 65% to low-income individuals; 55% to entrepreneurs of color; and 60% to women.
We continue to be the First to Believe in small businesses, with 75% of our lending capital deployed to early-stage businesses, including 50% to start-ups (less than one year in business).
We extend our deepest appreciation to our entire family of institutional and individual funders and partners for supporting our work!