PeopleFund is a financial and educational organization based in Austin, Texas that focuses on providing small businesses and nonprofits with educational services as well as financing on more flexible terms than typically offered by commercial lenders. ¹

Background

PeopleFund was founded in east Austin, Texas in 1994 by Margo Weisz, originally under the name Austin Community Development Corporation. Later in September 1997, the organization was established as a nonprofit organization. ^{2 1 3}

As of 2024, the organization is certified by the U.S. Department of Treasury as a Community Development Financial Institution and is a member of the Opportunity Finance Network, a national coalition of community development financial institutions, and the Association of Enterprise Opportunity, an entrepreneurship support and advocacy organization. ^{4 5}

Activity

PeopleFund offers loans and financing to small businesses and nonprofits to pay for things like equipment purchases, revolving lines of credit, and real estate. The organization offers more flexible underwriting, no pre-payment penalties, and longer terms of payment up to 60 months (and longer in “special cases”) than typical commercial lenders. ¹

Examples of PeopleFund’s clients include Sanford Sourdough Bakers in Round Rock, Texas; Cactus Valley Art and Supply, an arts supply store in Harlingen, Texas; Alamo Assistive Technology, a communications device technology firm; and Monocle Eyewear, an eyewear store in downtown El Paso, Texas. ⁶

Additionally, PeopleFund offers its clients educational programs and resources, including workshops, business advising services, and events. ¹

Funding

Organizations, government entities, and corporations that have supported or invested in PeopleFund include the Austin Community Foundation, Bank of America, Bank of America Charitable Foundation, BankUnited, Capitol One, Charles Schwab, City of Austin, City of El Paso, City of Forth Worth, City of Harlingen, Economic Development Administration, First Citizens Bank, National Bank Holdings Charitable Foundation, Northern Trust, Opportunity Finance Network, Regions Foundation, Religious Communities Impact, Shield-Ayres Foundation, Siemens Foundation, T.L.L. Temple Foundation, Texas Department of Agriculture, Texas Women’s Foundation, Dallas Entrepreneur Center, Domestic and Foreign Missionary Society, U.S. Bank, U.S. Small Business Administration, Unitarian Universalist Common Endowment Fund, Washington Federal Foundation, and Wells Fargo. ⁷

On September 27, 2024, PeopleFund announced that it had received an unrestricted gift of $12 million from ex-wife of Amazon founder Jeff Bezos MacKenzie Scott though her Yield Giving Initiative. ⁸

Leadership

Gustavo Lasala is the president and chief executive officer of PeopleFund as well as the cofounder of Listo, a California-based financial products and services firm. Previously, he held leadership positions with LiftFund (formerly ACCION Texas) and the Opportunity Fund, and was a member of the boards of the Opportunity Finance Network and Foundation for Women and School of Excellence (San Antonio). ⁹

Luther Branham is the chair of PeopleFund’s board of directors as well as the cofounder and managing partner of Access Capital Technologies LLC, an Austin-based microfinance software firm. Previously, he was the head of digital lending and account origination strategy at Fiserv, cofounder of iLendx, and a member of the board of LiftFund. ¹⁰

Anthony Hedger is the chief financial officer of PeopleFund. Previously, he held a similar role at the Houston Society for the Prevention of Cruelty to Animals and was a financial executive at Rolls Royce Maritime, Petronas, CFS Bank, and Vodafone. ⁹

Patricia Colomo Baray is the director of portfolio risk at PeopleFund. Previously, she was a research assistant at the University of Texas and a volunteer with organizations including Latinitas, Candlelighters, and the American Cancer Society. ⁹

1. “About Us.” PeopleFund. Accessed December 16, 2024.  https://peoplefund.org/about-us-small-business-loans/
2. “Peoplefund.” ProPublica. Accessed December 16, 2024.  https://projects.propublica.org/nonprofits/organizations/742814572
3. Dominique, Mitch. “PeopleFund CEO Margo Weisz Steps Down After 15 Years.” PeopleFund. January 25, 2010. Accessed December 16, 2024. https://peoplefund.org/peoplefund-ceo-margo-weisz-steps-down-after-15-years/
4. Homepage. Association for Enterprise Opportunity. Accessed December 16, 2024.  https://aeoworks.org/
5. Homepage. PeopleFund. Accessed December 16, 2024. https://peoplefund.org/
6. “Blog.” PeopleFund. Accessed December 16, 2024. https://peoplefund.org/blog/
7. “Annual Reports: 2023 Report.” PeopleFund. 2023. Accessed December 16, 2024. https://peoplefund.org/annual-reports/
8. “PeopleFund Receives $12 Million Gift from MacKenzie Scott.” PeopleFund. September 27, 2024.  Accessed December 16, 2024. https://peoplefund.org/peoplefund-receives-12-million-gift-from-mackenzie-scott/
9. “Staff.” PeopleFund. Accessed December 16, 2024. https://peoplefund.org/about-us-small-business-loans/staff/
10. “Board.” PeopleFund. Accessed December 16, 2024. https://peoplefund.org/about-us-small-business-loans/board/