ImpactAlpha, April 6 – Indigenous women-owned businesses employed more than 61,000 people and generated $11 billion in revenues last year. Women are the primary breadwinners in two-thirds of American Indian and Alaskan Native households.
Albuquerque-based nonprofit Native Women Lead’s Matriarch Revolutionary Fund aims to help 200 Native women-led businesses overcome a persistent funding gap.
“Access to capital remains a significant barrier for women entrepreneurs, but is particularly challenging for Indigenous communities,” said Dalila Wilson-Scott of Comcast, which is supporting the fund’s launch with a $650,000 grant.
Native Women Lead is looking to raise $10 million to cut checks of $50,000 to $250,000.
Experimental finance
The new fund will continue Native Women Lead’s experimentation with funding models to support such female entrepreneurs. Its Matriarch Restorative Fund provides 3% loans of $10,000 to $50,000 for small businesses, and its Matriarch Creative Fund offers loans of up to $10,000 to female artists, makers and other creatives.
“It’s important for us to design capital, tools, and products that meet the needs of Native communities,” said Native Women Lead’s Jaime Gloshay. “Being able to see someone succeed closes that belief gap in oneself and empowers one another to continue to push and take this journey of entrepreneurship.”
