Celebrating $65MM Invested in California Small Businesses
A message from Working Solutions CEO Sara Razavi:
Dear Community,
I am excited to share these recent updates about Working Solutions that signal our continued strength in uncertain times.
In the midst of an ongoing government shutdown that threatens health care, food security, and many of the economic development resources that strengthen our small business community, Working Solutions stands firm as the First to Believe in Small Business.
First, Working Solutions has reached a tremendous milestone—$65 million in all-time deployment across the state of California. We are well on our way to meet and exceed the bold goal that we set for ourselves exactly one year ago with the launch of our five-year strategic plan—to reach $100 million in small-dollar financing by the end of 2029.
Additionally, Working Solutions has just closed our biggest fiscal year ever! In FY25, we made 213 small-dollar loans totaling $9.7 million and closed our first $3 million quarter in Q4.
We continue to scale with purpose. In FY25, Working Solutions served:
81% low- and moderate-income (LMI) individuals, of whom 71% were low-income;
71% BIPOC entrepreneurs;
52% women entrepreneurs; and
81% early-stage businesses.
In total, 99% of our loans in FY25 were made to entrepreneurs in one or more of these priority groups.
Our longitudinal results continue to show the impact of small-dollar loans at scale—on average, our clients more than doubled their business revenue between their first and second loans. We look forward to sharing more details about our impact in the new year.
Behind every one of these dollars is a story that highlights the importance of community development finance—whether it’s a story about Phyllis, who used a Working Solutions loan to purchase a food truck and breathe new life into her business, or a story about Rozana, who launched a retail venture to serve fellow Muslim women and is now using a loan from Working Solutions to grow her business into a legacy for her family. The stories behind these dollars are the ‘why’ of what we do—the mission that makes the case for community development finance.
As I close out this update, I am thrilled to share one additional piece of good news that gives me even more hope in these uncertain times and speaks to the power of our collective voice. Our very own Titi Ikhile, Chief Program Officer and Acting Chief Lending Officer at Working Solutions, has been elected to serve on the Board of Directors of the Opportunity Finance Network (OFN), our national association of CDFIs. As I term off the OFN Board after 6 years of service, I am confident that Titi's strong leadership, commitment to economic justice, and vision for collective impact are just what the CDFI industry needs at this pivotal moment and as we look ahead to the future.