New Roots Fund

THE NEW ROOTS FUND HELPS REFUGEES, ASYLEES, AND LOW-INCOME INDIVIDUALS ACHIEVE ECONOMIC SELF-SUFFICIENCY. THE FUND ACCOMPLISHES THIS BY PROVIDING BUSINESS CAPITAL AND TECHNICAL ASSISTANCE. FORMED IN 2011 AND ASSOCIATED WITH THE DIOCESE OF OLYMPIA, NRF IS AN INDEPENDENT 501(C)3.

OVERALL PROGRAM. THE NEW ROOTS FUND CONTINUED OUR MICRO-LENDING PROGRAMS IN 2021. IN 2021 WE OPENED ANOTHER 55 INDIVIDUAL DEVELOPMENT ACCOUNTS TO REACH A 3-YEAR TOTAL OF 192 ACCOUNTS. IN 2021, IDA SAVERS USED THEIR PERSONAL SAVINGS AND FEDERAL MATCHING FUNDS TO START BUSINESS AND MAKE RELATED INVESTMENTS TOWARDS THEIR FUTURE: STARTED 25 BUSINESSES, PURCHASED 18 HOMES AND 13 VEHICLES, AND MADE TUITION PAYMENTS TOWARDS DEGREES IN 14 POST-SECONDARY EDUCATION PROGRAMS. IN ADDITION, THE MICROLOAN FUND ENROLLED AND TRAINED 70 ENTREPRENEURS, AND MADE 52 BUSINESS LOANS. AS IN 2020 WE CONTINUED TO ADAPT TO THE COVID-19 PANDEMIC WITH PRECAUTIONARY PUBLIC HEALTH MEASURES TO ENSURE THE SAFETY OF OUR CLIENTS AND STAFF, WHILE CONTINUING TO DELIVER ON OUR MISSION IN THE COMMUNITY. ~ ~ ~ SINCE OUR FOUNDING THE NEW ROOTS FUND CONTINUES OUR BUSINESS MICROLOANS TO IMMIGRANTS & REFUGEES PROGRAM. WE PROVIDE MICROLOANS TO REFUGEE, IMMIGRANT AND LOW-INCOME ENTREPRENEURS. THE FUND ALLOWS FOR NON-TRADITIONAL FORMS OF COLLATERAL SUCH AS SMALL HOUSEHOLD ITEMS AND DOES NOT REQUIRE ALL-INCLUSIVE BUSINESS PLANS THAT NON-NATIVE SPEAKERS STRUGGLE TO PRODUCE. LOANS ARE FLEXIBLE TO THE NEEDS OF THE BUSINESS AND SEEK TO MAXIMIZE THEIR ABILITY TO DEVELOP, EXPAND AND FUNCTION. IN THE SEATTLE-KING COUNTY AREA, THE NEW ROOTS FUND HAS A LONG-TERM COMMITMENT TO MICROENTERPRISE WITH OVER $1,000,000 LOANS DISBURSED OVER THE YEARS, AND HUNDREDS TRAINED IN BEST BUSINESS PRACTICES. WE STRIVE TO DELIVER THE GREATEST IMPACT TO THE MOST DISADVANTAGED PEOPLE AND AREAS OF KING COUNTY. WE PROVIDE CLASSROOM TRAININGS, TECHNICAL SUPPORT AND POST LOAN ASSISTANCE TO ENSURE BUSINESSES HAVE THE GREATEST CHANCE AT SUCCEEDING. BY HELPING THESE ENTREPRENEURS ACHIEVE SELF-SUFFICIENCY, NEW ROOTS FUND POSITIVELY AFFECTS THE ECONOMY OF THEIR COMMUNITY AND OUR REGION. OUR SERVICES REACH AN UNDERSERVED POPULATION WHO POSSESS A PASSION FOR SELF-DETERMINATION AND BUSINESS. DATA SINCE OUR FOUNDING: 238 ENROLLED IN BUSINESS PREPARATION CLASS SINCE 2012. MORE THAN 200 LOANS MADE FROM GRADUATES. OVER 84% HAD FAMILY INCOMES LESS THAN 30% OF THE AMI INDEX. 54% OF SUPPORTED BUSINESSES ARE WOMEN-OWNED. CREATED MORE THAN 300 JOBS WITHIN THE BUSINESSES THAT BORROWED.