WESST Blog

In 2023, the Minority Business Development Agency (U.S. Department of Commerce) announced the “Capital Readiness Program,” a grant competition that sought applicants who: (1) help socially and economically disadvantaged entrepreneurs build capacity; (2) provide access to capital opportunities; and (3) provide access to networks.

WESST pursued this opportunity to significantly increase our technical assistance and microlending capacity and designed the WESST CAP-Ability Project. Of the 1,600 applicants from across the nation, WESST is proud to announce that our CAP-Ability Project proposal was among the 43 proposals selected to receive an award.

The CAP-Ability Project will provide opportunities for historically marginalized entrepreneurs to strengthen their understanding of business finances, marketing, and management; and access capital and networks that will facilitate sustainable growth. By 2027, our goal is to serve over 1,000 entrepreneurs and help them access over $10 million in small business capital.

Services of the WESST CAP-Ability Project include one-on-one consultations and trainings covering a wide variety of topics focused on supporting small business growth and development. All project activities are developed considering the unique needs of historically marginalized entrepreneurs, including women, BIPOC, immigrants, and low-wealth New Mexicans. The CAP-Ability Project is focused on helping our clients ultimately access small business capital to further develop their businesses and create a positive ripple effect in our state’s economy.

We are excited and prepared to continue this important work, but the WESST CAP-Ability Project will not be possible without your support. To fully utilize the MBDA grant in 2024, we need to raise a private sector match of $50,000. For every $1 you contribute, we will be able to access $10 in federal funds. We need your help to raise $50,000 to support the WESST CAP-Ability Project through 2024.

Thank you for considering a gift to support this exciting new project! To support the WESST CAP-Ability Project, please click here: https://wesst.kindful.com/?campaign=1279205