Greenline Access Capital is a 501(c)(3) mission-driven financial institution that helps micro-businesses achieve financial wealth and resiliency.
To provide immigrant and other historically disadvantaged individuals with capital, capacity, connections, and conviction to leverage entrepreneurship for economic and social advancement.
The name “Greenline” was inspired by one of our Board members with a vision to “Greenline Philadelphia” in response to the Redlining Practices around the nation, in particular affecting Philadelphia’s most vulnerable neighborhoods.
A report titled Philadelphia Equitable Entrepreneurship Ecosystem Assessment and Strategy (ESHIP) was issued by United Way, the Philadelphia Commerce Department, and the Philadelphia Industrial Development Corporation (PIDC). It demonstrated that the demand for small business support services in the Delaware Valley region continues to be unmet and that a holistic approach is needed to support micro and small businesses.
This report was a major catalyst for launching Greenline Access Capital, particularly because of the clearly identified demand for more flexible lending and our own prior experience in the types of services identified as crucial to this market: access to capital, building entrepreneurial capacity, and forging connections to others.
A group of leaders in the lending, nonprofit, and business sectors met to strategize about how to meet these needs, and who had the expertise and the capacity to do so.
🚀 Greenline Access Capital was founded on September 28, 2021 as a Nonprofit in the state of Pennsylvania, and obtained its 501(c)3 status in June 2022.
Fundraised $75,000 from partners, community leaders and friends to fund its lending pool, and in January 2022, obtained a Working Capital loan from Nonprofit Finance Fund through their zero-interest Care Fund.
First loans are closed. 6 loans totaling $22,000 to Latino/Hispanic business owners. Over the next several months, Greenline provided assistance connecting clients with several grants, and additional financing totaling over $90,000.
Greenline celebrates several milestones, including connecting clients with access to capital, establishing partnerships with local organizations in Philadelphia (PA), Delaware and New Jersey and receiving support from National organizations.
- Connected over 40 clients with $3.9 Million in loans (from Banks, SBA EIDL and CDFIs), and grants. Loan funds include $72,000 of Greenline’s own capital.
- During 2022, a total of 454 participants, (not unique), attended our Workshops (hosted or co-hosted by Greenline)
- As of December 2022, provided technical assistance to over 160 clients, 80% Hispanic/Latino
- 43% of funds were awarded to Female-Owned businesses (94% Latinas)
Total loan amount that we helped our clients access since 2021
Total loan amount provided directly from the Greenline Loan Fund
Number of clients who received Technical Assistance from us
The COVID-19 pandemic has ravaged small businesses across Philadelphia, particularly among the city’s business owners of color.
The Philadelphia Equitable ESHIP Ecosystem Report, states the city had an estimated 26,000 small employer businesses (with 1 to 50 paid employees) and 101,000 sole proprietors in 2017, with notable growth among both segments over the prior five years.
However, micro-businesses are often neglected by mainstream banking institutions due to the challenges this segment group face when putting together a loan package.
Greenline’s customized lending products and services offer holistic support to entrepreneurs in achieving their business and financial goals. Since entrepreneurship is often a means to achieve financial mobility, Greenline Access Capital believes that it can most effectively support entrepreneurs when it engages with their entire financial reality.
A core emphasis is placed on bringing the financial resources needed to establish, stabilize, and grow businesses. However, to ensure successful entrepreneurship, it also supports clients in becoming banked, establishing wealth, and accessing additional local, state and federal resources when applicable. This is accomplished through the development of a multipronged entrepreneurial ecosystem, which consists of its internal programming; as well as access to a network of referral partners working in concert to support entrepreneurs in advancing businesses and reaching financial goals.
Greenline Access Capital works to provide and enable access to four core pillars of entrepreneurial success: Capital, Capacity, Connections, and Conviction.
3525 I St, Unit 111, Philadelphia, PA 19134