Results outperform original plan, supporting 1,200+ Jobs
PeopleFund, a Texas nonprofit small-business lender, announced historic results highlighting its growing economic contribution in East Texas and across the state. PeopleFund’s statewide direct impact has surpassed $1.4 billion, supporting more than 6,000 businesses and helping create or retain 26,000 jobs. The organization has also delivered more than 235,000 hours of technical assistance to entrepreneurs.
Since launching operations in East Texas in 2021 with strategic support from the T.L.L. Temple Foundation and funding from the Economic Development Administration, PeopleFund’s direct impact in the region has exceeded $18 million. This includes $5 million in small-business loans, $8 million in SBA 504 financing, and $5 million in New Markets Tax Credits.
“East Texas should be the most fertile region in the state to pursue economic mobility and improve life circumstances,” said Charlie Glover, President and CEO of the T.L.L. Temple Foundation. “Access to capital for small businesses is one piece of that puzzle. Our support of PeopleFund served as a catalyst attracting additional public and private support to the area. We commend this progress and encourage this trajectory to continue, as hardworking East Texans are ready to seize the opportunity.”
To date, PeopleFund has deployed 75 loans in East Texas, supporting 1,248 jobs. These investments extend beyond financial metrics, reflecting business growth, stronger local economies, and expanded opportunities for families throughout the region.
“I am eager to leverage the resources and mentorship offered by PeopleFund Small Business Accelerator program to take my business to new heights and contribute meaningfully to the entrepreneurial community,” said Vernetta Spivey, Owner of Spivey Salon Suites in Beaumont, Texas.
Another example of PeopleFund’s East Texas impact is Local Solution Enterprises, doing business as Local Sanitation and My Trash Service. Founded in 2015 by families with more than four generations of roots in Tyler County, the company now serves more than 14,000 customers, providing curbside pickup, commercial services, and roll-off dumpsters from locations in Huntington, Woodville, and Silsbee.
“Through our partnership with PeopleFund, we were able to access the capital needed to expand our operations, reach more rural communities, and create local jobs,” Said James Broussard, CEO of Local Solutions. “This kind of investment goes beyond our business; it strengthens the region we’ve called home for generations.”
PeopleFund supported the company’s expansion into Angelina, San Augustine, Sabine, and Nacogdoches counties, strengthening rural economies and ensuring access to essential services.
“We opened our East Texas office, planning to deploy $2.5 million over three years, leveraging $500,000 in federal funds alongside $2 million in private capital,” said Gustavo Lasala, President and CEO of PeopleFund. “Surpassing $18 million in impact and reaching thousands across the region is deeply meaningful. The fact that 50% of this impact has been made possible through public support from federal and state sources underscores what is possible when public and private partners work together.”
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