Pawsperity Joins RISE Microloan Program to Help Graduate Groomers Launch Businesses
Image credit: Pawsperity
Pawsperity has joined the RISE Microloan program of the Plaza Rotary Club, an economic equity initiative to provide microloans to fledgling entrepreneurs. Graduates of Pawsperity’s pet grooming training programs are now eligible to apply for RISE Microloans to launch or grow their businesses.
The program, RISE Microloan (short for Rotary Investing & Supporting Equity), is offered through AltCap, a mission-focused small business lender serving underestimated entrepreneurs, with the support of CHES, Inc., a nonprofit financial empowerment organization.
“Pawsperity is delighted to have additional resources to offer our grooming school graduates – access to capital and the connections of the Plaza Rotary club,” said Natasha Herdman, founding CEO of Pawsperity. “Finding capital and connections are two of the biggest hurdles our students face as they work to gain financial stability and economic self-sufficiency. For those graduates who have been out of our program working within the pet industry a few years, it is especially true if they start contemplating becoming a grooming salon owner.”
Pawsperity is dedicated to empowering families to uplift themselves from generational poverty through training in the trade of pet grooming. 135 students have graduated from Pawsperity’s pet grooming training since 2016, and 100% of those graduates have been placed in a job within 60 days of graduation.
The RISE Microloan program began as a pilot with The Sewing Labs, a non-profit bringing sewing education to Kansas City, and later expanded to include clients of Determination Inc., a non-profit providing training and re-entry support for recently incarcerated individuals.
“Plaza Rotary is working to address critical issues of economic equity in Kansas City,” said Frank Bales, president of the Plaza Rotary Club. “The RISE Microloan program gives us a way to help close the opportunity gap and empower individuals, like Pawsperity’s graduates, who are trained and ready to create their own jobs.”
The program launched in 2023 with a partnership between Plaza Rotary, AltCap and CHES, Inc. Plaza Rotary raised the capital for the $125,000 RISE Microloan fund and provides the networking connectivity.
AltCap is a non-profit Community Development Financial Institution (CDFI) that provides capital to underserved entrepreneurs who cannot access the traditional finance system. AltCap administers the loans through the RISE Microloan program.
“AltCap exists to help entrepreneurs and communities thrive, which is why we’re thrilled to partner with Pawsperity and the Plaza Rotary Club,” said AltCap CEO Ruben Alonso III. “By providing access to capital, the RISE Microloan program is helping Pawsperity graduates pursue their dreams by using the training and mentorship they receive to start a new business. We’re excited to see this collaboration grow and to work together to create more opportunities for entrepreneurs in our community.”
CHES, Inc., a Kansas City-based nonprofit that provides housing counseling and financial education, will support the program with its certified counselors who provide clients with the knowledge and confidence necessary for long-term financial success.
“CHES, Inc. is excited to welcome Pawsperity to this groundbreaking and empowering program,” said Ron Farmer, CHES, Inc., vice president. “We look forward to providing participants with the financial knowledge necessary for future entrepreneurial success.
RISE Business Awards
In addition to the microloan program, Plaza Rotary also operates the RISE Business Awards, celebrating MBE/WBE businesses that follow Rotary’s Four-Way Test. The Four-Way Test is a way to direct words and actions toward positive outcomes: In everything I think, say, and do – Is it the truth? Is it fair to all concerned? Does it build goodwill and better friendships? Is it beneficial to all concerned?
Nominations for the RISE Business Awards are free and open to all. Visit the Nomination Form for more details and to enter. The nominations will close Aug. 1, and winners will be announced at the RISE Business Awards celebration at 6 pm Thursday Nov. 21 at the American Jazz Museum.
Plaza Rotary intends to expand the RISE Microloan program to other non-profits as well as provide the template for the program to other Rotary clubs. Rotary operates internationally with 1.4 million members who take action by volunteering time and resources to solve problems and address community needs.
