NEXTSTAGE

THE NEXTSTAGE FOR ENTREPRENEURS PROGRAM OFFERS TECHNICAL AND FINANCIAL ASSISTANCE TO ENTREPRENEURS - PARTICULARLY NON-TRADITIONAL AND DISADVANTAGED ENTREPRENEURS - DURING THE PRE-START PLANNING, START-UP, AND GROWTH PHASES. WE BELIEVE THAT ENTREPRENEURSHIP PRESENTS UNIQUE OPPORTUNITIES FOR INDIVIDUALS TO FIND PERSONAL SATISFACTION IN THEIR WORK, BUILD WEALTH AND EQUITY, AND TO IMPROVE THE COLLECTIVE ECONOMIC OUTLOOK OF THEIR COMMUNITIES. HOWEVER, THAT OPPORTUNITY ISN'T EQUAL. CERTAIN INDIVIDUALS - INCLUDING PERSONS OF COLOR AND LOWER INCOME INDIVIDUALS - FACE CONSISTENT BARRIERS TO ACCESSING TRADITIONAL CAPITAL MARKETS. NEXTSTAGE SEEKS TO ADDRESS THIS DISPARITY BY PROVIDING ACCESS TO CAPITAL AT RATES AND TERMS THAT ARE COMPETITIVE IN THE MARKETPLACE THROUGH AN UNDERWRITING PROCESS THAT STRONGLY WEIGHTS AN ENTREPRENEUR'S CREATIVITY, COMMITMENT, AND GROWTH, WITH REDUCED DEPENDENCE ON TRADITIONAL CREDIT STANDARDS OF COLLATERAL, EQUITY CONTRIBUTION AND CREDIT SCORE. IN 2023, NEXTSTAGE PROVIDED $2,220,550. OF DIRECT FINANCING TO 34 NEW AND GROWING SMALL BUSINESS BORROWERS- LEVERAGING NEARLY $23.3 MILLION OF OTHER FINANCING, INVESTMENT, AND EQUITY, AND CREATING AT LEAST 142 NEW JOBS. NEXTSTAGE SEEKS TO PAIR ITS LENDING ACTIVITIES WITH NO-COST, DIRECT TECHNICAL ASSISTANCE TO EMERGING ENTREPRENEURS. RATHER THAN PROVIDING STRUCTURED OR CURRICULUM-BASED TRAINING, AS IS COMMON AMONG ENTREPRENEUR SUPPORT PROGRAMS, NEXTSTAGE'S TECHNICAL ASSISTANCE IS TYPICALLY OFFERED ONE-ON-ONE, WITH A FOCUS ON IDENTIFYING SPECIFIC NEEDS AND SOLUTIONS TO ADDRESS THE SPECIFIC CHALLENGES OF EACH ENTREPRENEUR. IN 2023, NEXTSTAGE STAFF WORKED WITH MORE THAN 300 NEW AND EMERGING ENTREPRENEURS, PROVIDING APPROXIMATELY 2800 HOURS OF DIRECT TRAINING AND TECHNICAL ASSISTANCE.