Working Solutions CDFI is proud to share our Social Impact Summary for FY23!
As the First to Believe in Small Business, Working Solutions is thrilled to have met and surpassed a significant milestone this year: $50 million in small-dollar loans and grants made to nearly 3,000 small businesses in Northern California since inception with an all-time repayment rate of 95%. Over half of these funds have been disbursed since 2020. In FY23 alone, Working Solutions made $6.9 million in small-dollar loans and grants to 223 small businesses — with 80% of loans under $50,000 — and provided 12,215 hours of free technical assistance and business consulting to entrepreneurs.
We continue to reach our priority groups at scale: 97¢ of every Working Solutions dollar deployed in FY23 supported small businesses owned by BIPOC, women, and/or low-income individuals.
Thank you to our institutional and individual donors, and to the public, private, and community-based organizations that support our work and enable us to be a strong partner to local small businesses. We are grateful to our client, The Final Sauce, for sharing their story and photo in this report.