Problem

New Americans seeking to open storefronts face a wide array of challenges. They lack formal credit histories to apply for loans. Discrimination by some lenders based on race, immigration status, and neighborhood of residence makes it difficult for them to access capital. They do not have the technical assistance to make their microbusinesses flourish. The digital divide is also a barrier to developing efficient businesses in a technology-oriented marketplace. \

The Gift

AnewAmerica helps its entrepreneurs secure the credit they need to launch their businesses. Clients receive asset-building services through Savings Clubs-individual development accounts (IDAs), financial literacy, home ownership education and credit access. This program component seeks to strengthen the long-term financial sustainability of working families that face special barriers because of their educational, linguistic, cultural and ethnic differences that hinder their capacity to access financial resources in the mainstream system. Outcomes from this program are the production of a long-range family assets plan. AnewAmerica's IDA program matches entrepreneurs' savings up to $3,000 per individual. Entrepreneurs leverage their financial assets to launch their businesses. Your donation would help match one entrepreneurs' savings, and it will be doubled by AnewAmerica's matching grant. This enables entrepreneurs to leverage up to $6,000 to launch or expand their business, and in many cases, help them to secure a storefront.