Austin’s vibrant entrepreneurial spirit is supported by a variety of local programs designed to help small businesses thrive. Whether you’re launching a startup or looking to expand, these resources offer valuable assistance.
Financial Support and Microloans
Access to capital is crucial for business growth. Several organizations in Austin provide financial support tailored to small businesses:
City of Austin’s Kiva Hub
In partnership with the global nonprofit Kiva, the City of Austin has established its first Kiva Hub, offering 0% interest, fee-free microloans ranging from $1,000 to $15,000. These loans have no minimum credit score requirement, making them accessible to a broad range of entrepreneurs. The program connects small business owners with local and global lenders, fostering community support. Learn more.
PeopleFund
PeopleFund is a Texas-based nonprofit Community Development Financial Institution (CDFI) and SBA-approved microlender serving the Austin area. They offer microloans from $1,000 to $50,000 through the SBA Microloan Program, as well as larger loans up to $350,000 for business growth. PeopleFund specializes in serving women, minorities, veterans, and low-income entrepreneurs who may not qualify for traditional bank financing. Learn more.
Business Coaching and Training
Guidance from experienced professionals can make a significant difference in a business’s success. Austin offers several programs providing coaching and training:
Economic Growth Business Incubator (EGBI)
EGBI is an award-winning nonprofit business accelerator based in Austin that helps aspiring and existing small business owners in Central Texas make their Main Street businesses more profitable and sustainable. They offer virtual and in-person one-on-one business coaching at no cost in both English and Spanish, covering topics such as business plans, marketing strategy, cost control, and general operations. Additionally, EGBI provides workshops and bootcamps on building business plans, bookkeeping, marketing basics, and profitability. Learn more.
TCTX Thrive 3.0
TCTX Thrive 3.0 is a free small-business support program powered by Travis County. It offers hands-on, practical support for entrepreneurs ready to strengthen and grow their businesses. The program provides assistance with financial management, marketing, human resources, and business planning. Eligible participants may also receive a grant of up to $5,000. To qualify, businesses must have been operating since before March 1, 2019, and be located in Travis County, outside Austin city limits. Learn more.
Space Activation and Community Engagement
Affordable and accessible spaces are vital for small businesses to establish a presence and connect with the community:
Downtown Austin Space Activation (DASA)
The DASA program transforms vacant storefronts into vibrant hubs for creatives, small businesses, artists, and community events, driving economic growth and cultural engagement in Downtown Austin. By providing affordable, accessible, short-term space opportunities, DASA lowers barriers for entrepreneurs and creatives to test ideas, grow their audiences, and connect with the community. The program partners with property owners and local organizations to revitalize underutilized spaces, increase downtown foot traffic, and foster a more active and inclusive downtown. Learn more.
By leveraging these resources, Austin’s entrepreneurs can access the support they need to navigate challenges and seize opportunities, contributing to the city’s dynamic and resilient business landscape.