DreamSpring, known for providing small business loans and assistance to entrepreneurs in 27 states, is expanding its English-Spanish online technical assistance and training materials, as well as one-on-one technical assistance, thanks to more than $500,000 received from a Congressionally Directed Spending appropriation, part of the bipartisan Fiscal Year 2024 (FY24) Financial Services and General Government Bill. U.S. Senator Martin Heinrich (D-N.M.), a member of the Senate Appropriations Committee, helped secure the funds that are part of $28 million for 52 projects in New Mexico during the Senate’s passage of six bipartisan appropriations bills on March 23, 2024.
Spanish-speaking entrepreneurs will be able to access training materials in their own language online and speak in Spanish one-on-one with DreamSpring business consultants about small business financing and other resources.
DreamSpring is a nonprofit Community Development Financial Institution (CDFI) and U.S. Small Business Administration (SBA) lender dedicated to accelerating the economic inclusion and strength of underserved communities. Founded in 1994, the organization provides rapid access to capital and customized wrap-around support to the most vulnerable small business owners in 27 states, focusing on communities including people of color, women, low- to moderate-income earners, people with disabilities, and start-ups. To date, DreamSpring has issued more than 48,796 loans totaling over $538 million to small businesses that support an estimated 65,138 jobs.