The Fuerza Local Business Accelerator program is a six-month program designed to teach underserved micro-entrepreneurs important basics for financial literacy and business development. Participants attend weekly classes on a variety of topics including marketing, business planning, cash flow management, and many more. Participants also gain critically important literacy through participating in a lending circle, which requires them to make on-time payments every month they are in the program. These payments are reported to Experian, building a credit history for the small business owner, often for first time. Their savings is then matched by a scholarship from the Local First Arizona Foundation. Each graduate is offered the opportunity to access credit at fair market rates through several partnering financial institutions in lieu of any previous credit history.
Local First Arizona Foundation launched the Fuerza Local Business Accelerator in 2013 as a direct response to the influx of predatory lenders that target low- income Latinos who often lack financial literacy and access to resources that help build thriving businesses.
Investing in underserved communities through entrepreneurship is a successful strategy that in just four years has seen incredible job creation and business expansion, along with a reduction in reliance on social services. Creating opportunities for small business development in low-income communities helps build an Arizona we are proud to call home.
Aplicar para El Acelerador de Negocios
Estamos aceptando solicitudes para el programa en Phoenix y Tucson.