Economic developers believe a key contributor to economic inequality in the United States is the large and persistent racial and ethnic disparity found in business ownership and performance. Barriers to accessing capital that particularly impact Black, Indigenous, People of Color (BIPOC) entrepreneurs include lack of initial wealth, financial literacy, education, and managerial experience. To address racial and income inequities, WESST launched the HOPE Fund (Helping Open Possibilities for Everyone), a “no barriers to accessing capital” approach for people of color and low-wealth New Mexicans.

WESST is a nonprofit business development organization that offers consulting, training, and lending to anyone with the passion to start or grow a business. WESST nurtures thousands of clients each year to help them build strong and sustainable businesses that support their families and communities throughout New Mexico.

Breanna Tso, owner of Tokin Tarot in Kirtland, NM, was the first business owner to receive a loan from the HOPE Loan Fund. Learn more about Breanna, Tokin Tarot, and this innovative new lending program on the WESST blog.

“Before I started my business journey I was not in a good place, very unsure of myself and lacking confidence that I could be a business owner. I could not have done this without Dawn, Holly, and Sandro helping me make my dreams come true. WESST is amazing and beyond helpful.”

Read about more HOPE loans here.

Take a look below at the impressive impact WESST programs have had on New Mexico businesses: