Eva Longoria’s foundation and Accessity launched a $55,000 loan fund in 2013 to help six Latina entrepreneurs start or grow their businesses. (Photo: Instagram)
A small loan fund launched in 2013 by the Eva Longoria Foundation and California-based nonprofit lender Accessity has grown into a significant source of financial support for Latina entrepreneurs in Southern California.
Starting with $55,000 to help six women establish or expand their businesses, the initiative has since facilitated 65 loans worth nearly $525,000 and helped create or maintain 150 jobs.The partnership is set to expand further following the Eva Longoria Foundation’s decision to award Accessity a three-year grant worth $500,000. The funding will support entrepreneurial education, outreach and access to capital for Latina small-business owners.
Eva Longoria Foundation awards $500,000 grant to Accessity
The three-year grant will help Accessity expand its programmes and reach more Latinas through business training, financial assistance and educational resources. The initiative builds on a partnership that has supported women looking to launch or grow their businesses over the past decade.“With this grant, we will reach even more Latinas in Southern California with education, funding, and resources through the Eva Longoria Foundation,” said Accessity CEO Elizabeth Schott in a press release.
“Latina entrepreneurs are starting small businesses at one of the fastest rates in the U.S., and we are excited to continue the momentum of this long-term relationship and support and empower these women,” Schott added.According to the organisations, the original $55,000 loan fund has grown to $235,000 and is expected to increase to $415,000 by the end of the three-year grant period. The fund has supported 65 loans amounting to nearly $525,000 since its inception, helping business owners access capital that can be difficult to secure through traditional channels.
Spanish-language training to help Latina entrepreneurs grow
Beyond financial assistance, the partnership focuses on equipping women with the knowledge and resources required to establish sustainable businesses. The grant will support Spanish-language training sessions, marketing and communications outreach, and the Academia de Accessity para el Exito Empresarial, also known as the Accessity Academy for Business Success.The programme aims to help Latina entrepreneurs launch or formalise their businesses through accessible, Spanish-language instruction.
Participants learn about starting and managing a business while building connections with peers who may be navigating similar challenges.Launched in autumn 2020, the academy runs a course each fall, with approximately 25 Latinas learning together in a supportive environment. Nearly 70 entrepreneurs have graduated from the programme.The renewed partnership will also include an annual in-person training event in Spanish, offering participants continued instruction and opportunities to connect with other business owners.
Earlier educational webinars attracted more than 130 attendees across three sessions.
San Diego entrepreneur turns training into business growth
One example of the programme’s impact is Cinthya Salas, founder of Fiu-Fiu Flautas & Snacks in San Diego, California. After graduating from the academy, Salas used the skills she gained to launch and develop her food business.“I’m grateful to the Eva Longoria Foundation and Accessity because I have made so much progress in my business since I did not know anything about starting a business,” Salas said.“Now I have seven food carts, employ six part-time workers, and my business has become my main source of income. It warms my heart to know that programs like this exist to support the Latina community and to see all the Latinas supporting each other,” she added.
Accessity’s work to expand access to capital
Accessity, formerly known as Accion San Diego, is an independent nonprofit Community Development Financial Institution that provides small-business loans ranging from $300 to $100,000, alongside business resources and community support in Southern California.The organisation focuses on entrepreneurs who have historically faced barriers to financing and business assistance, including women, immigrants, entrepreneurs of colour and people from low- to moderate-income backgrounds.Since 1994, Accessity has provided more than $70 million in loans to small-business owners, helping them start and expand businesses, build financial independence and support local employment.The Eva Longoria Foundation works to help Latinas build better futures for themselves and their families through education and entrepreneurship. Its programmes include mentorship, parent engagement, STEM education, scholarships, microloans and business training.