Quarterly Capital Hub Update

In this quarterly Capital Hub update we are sharing a recap of 2021 and how 2022 has started, and we’ll introduce you to three of our entrepreneurs who were able to sign or renew their lease thanks to their Kiva loans.

2021 RECAP AND STARTING 2022

In 2021 we helped provide access to 60 Kiva loans for a total of $537,000 through our Alameda and San Francisco Kiva Hubs. We also helped 29 entrepreneurs access $1,419,972 in grants, as well as 16 entrepreneurs access $784,644 in larger small business loans.

The Centro Capital Hub has started 2022 by helping 10 entrepreneurs access a total of $92,000 in interest-free loans through Kiva through January.

KIVA LOANS RECEIVED BY OUR ENTREPRENEURS

With Centro’s support, entrepreneurs have accessed the capital they need to continue their operations and start new projects in their businesses.

Tina, owner of A Girl Named Pinky, got a $15,000 Kiva loan that helped her open a new kiosk in Berkeley after losing her lease in 2020.

Quanisha, owner of Yes Pudding, got a $15,000 Kiva loan that helped her open their first permanent location inside San Francisco's historic Ferry Building.

Imani, owner of Roasted and Raw, got a $7,500 Kiva loan that helped his 100% Plant-based bowl shop expand into its own long-term brick and mortar in Oakland.

4X MATCHING FUNDS FROM UMPQUA

Through the Small Business Empowerment Program, Umpqua Bank is offering 4X matching funds to Centro’s entrepreneurs fundraising on Kiva, enabling women and minority entrepreneurs in Umpqua's footprint to access 0% interest loans.

IF YOU WANT A LOAN

SUPPORT CENTRO ENTREPRENEURS

Please let us know if you or someone you know is interested in accessing a Kiva loan or have any questions. Verónica Gutiérrez, Capital Access Manager: KivaUS@centrocommunity.org

Join us in supporting more entrepreneurs raising money through Kiva.

Umpqua Impact Grant

Centro awarded with the Umpqua Impact grant

We're excited to share that we received a grant from Umpqua Bank. The award will help Centro build internal capacity and offer culturally relevant technical assistance programs to support low-income women, entrepreneurs of color, and small businesses.

Thanks to this grant, Centro will be able to invest in critical resources to bring our Entrepreneurship Suite to organizations throughout the United States. Our goal is to provide a complete high-impact enterprise-building resource to other organizations that support aspiring and current small business owners who lack business education or experience.

Centro believes in creating connections that make sense and helping underserved communities access resources that allow them to thrive and energize the local ecosystem. For that reason, in addition to supporting small businesses to apply for loans with Kiva, Centro also helps local organizations connect with the entrepreneurs that need their help.

With this year’s expansion of the Centro’s Capital Hub to San Francisco, Centro supports more entrepreneurs and organizations in San Francisco and parts of San Mateo County to provide access to Kiva’s interest-free microloans.

We are grateful to Umpqua Bank for recognizing our community initiatives and investing in us with a $450,000 grant on a 3-year financial commitment. We are honored for this award and look forward to collaborating with Umpqua Bank to build thriving and inclusive communities.

We are looking for new Entrepreneurship Trainers!

We are excited to grow our team of trainers! If you are in the Bay Area or New York Area, have experience teaching or facilitating workshops and share our same values, we are looking for you! (We’re also considering one remote trainer.)

We are looking for Entrepreneurship trainers to teach our Entrepreneurship Programs and provide Business Advising. We are looking for someone who can explain complex business concepts in simple terms, facilitate workshops using engaging and empowering activities, and guiding participants through the process of developing their business idea into an executable business plan that works for them.

“As a Centro Trainer, I am able to closely work with entrepreneurs that have so much passion for their business ideas. With this passion, coupled with their eagerness to learn, I enjoy watching them and their businesses grow and succeed.” - Monique, Centro Entrepreneurship Trainer

Learn more below and reach out to us if you’re a good fit!

TO APPLY

Please send your resume and a paragraph explanation of why this position is of interest to you to careers@centrocommunity.org.

We are looking forward to meeting you!

2021 Summary Update

We are excited to share a high level summary of our work during 2021.

In addition to summaries of entrepreneurs served, the Centro Business Planning App, access to capital and one-on-one assistance, you can also have an overview look at our infographic here.

ENTREPRENEURS SERVED

In 2021 we served 1,354 entrepreneurs (316 more than the previous year). Over the last two years, we have served 71% of the entrepreneurs through the Centro Business Planning App and 21% through Centro’s programs. Watch some of our entrepreneurs stories here.

ACCESS TO CAPITAL

We are excited to share that in 2021 we helped provide access to 60 Kiva loans for a total of $537,000 through our Alameda and San Francisco Kiva Hubs. We also helped 29 entrepreneurs access $1,419,972 in grants, as well as16 entrepreneurs access $784,644 in larger small business loans.

ONE-ON-ONE ASSISTANCE

Last year we brought a closer connection between our Capital Hub, workshops and 1-on-1 business advising support to address the different challenges faced by small businesses.

In 2021 we provided 879 hours of 1-on-1 assistance to 226 entrepreneurs.

The majority of entrepreneurs were located in Oakland & Alameda County (42%), followed by San Jose and Santa Clara County (19%), and Stockton and San Joaquin County (10%).

CENTRO BUSINESS PLANNING APP

In 2021 we updated the app introducing new features to the Centro Business Planning App. We focused on adding resources in locations where we and our partners offer programs, including the Bay Area, Los Angeles, New York, Michigan, Colorado, Oregon, Florida, and Texas. The Centro Business Planning App connects entrepreneurs to lenders based on location, business stage, how much you need, and industry experience.

New To-Do List added to our Business Planning App

We are excited to share that we have launched a new version of our Centro Business Planning App with a new To-Do List, where you can track your progress and understand the steps ahead! 

Each section of the Business Plan you are creating has its own To-Do List, which can be seen by swiping left and right. We recommend that entrepreneurs go through all of the cards and mark the tasks that have already been completed. 

Every time you complete a new task, you can go to the To-Do List and check that box. Then you will see how the yellow “To-Do” tag becomes a green “Completed” tag. In the upper right corner, we have also added a toggle button where you can easily switch the view from “To Do” tasks, where completed tasks are removed, to “All” tasks, where you can see the full list of tasks.

We have also added an information icon where you can find additional information and clarification of certain tasks.

From time to time, a pop-up will appear to ask if you would like to update your To-Do List and keep it up-to-date to make sure you are on track. You can get easily access the To-Do List whenever you want from the menu to check your progress.

The latest version of the App is available for Apple and Android devices:

Centro selected as part of the Citi Foundation’s Community Progress Makers

We are honored to be selected as part of the newest cohort of Citi Foundation’s Community Progress Makers! The Foundation’s unrestricted grant support & technical assistance from Urban Institute will help scale our work at Centro to increase social & economic opportunity in our community.

The Citi Foundation first launched the Community Progress Makers initiative in 2015 with a vision of empowering community leaders to grow their transformative impact through unrestricted, trust-based funding. In 2021, the Citi Foundation announced a $25 million expansion of Community Progress Makers with an intentional focus to support visionary organizations that are working to connect low-income communities and communities of color to greater social and economic opportunity.

As a Community Progress Maker, Centro will receive a multi-year, unrestricted grant of $500,000 and access to technical assistance and a supportive learning community from 2022 – 2023.

This third iteration of Community Progress Makers is a part of Citi and the Citi Foundation’s Action for Racial Equity initiative, which has already invested $1 billion in strategic initiatives to help close the racial wealth gap in the United States.

We are grateful for Citi Foundation for supporting our mission to create thriving communities.

Learn more about Community Progress Makers, here.

Some of our favorite Bay Area small businesses are now together, in one place! The new local guide “Shop the Bay”

As you probably know, we are part of the San Francisco Economic Development Alliance (SFEDA), and as a group that advocates for local small business entrepreneurs, we have decided to launch a new small business guide: Shop the Bay!

The first edition of Shop the Bay includes over 40 small businesses, owned by underserved entrepreneurs, including small businesses owned by Women, Latinx, BIPOC, and AAPI.

The giving season is fast approaching and soon, many will get ready to make their purchases. Shop the Bay is part of our effort to stir the demand for holiday gifts towards our extraordinary community of San Francisco’s Bay Area small business entrepreneurs.

In this guide, you will find:

• Year-end gifts for staff

• Thank you gifts for board members

• Goods for corporate holiday baskets

• Holiday party favors

• Gratitude gifts for nonprofit funders and high-level donors

• Volunteer appreciation gifts

• Surprise gifts for key consultants and contractors

Check out Shop the Bay guide now and find an array of extraordinary globally-inspired products, artisan goods and environmentally-minded brands, all created by Bay Area underserved small business owners. 

Thank you for shopping local and small! Only together can we truly support our Bay Area community of small business entrepreneurs.

Entrevista a Arturo Noriega en el programa de radio Buenos Días América de Univision

Estamos agradecidos por haber sido invitados a hablar con Andreina Gandica y Juan Carlos Aguiar en el programa de radio Buenos Días América donde Arturo Noriega, CEO y Fundador de Centro, compartió información de nuestros programas y recursos en Centro.

Si tras la entrevista se quedaron con ganas de conocer más, pueden leer este artículo de Univision sobre cómo Centro ayudó a Ana y Juan Tabares, emprendedores mexicanos que emigraron a Estados Unidos, a abrir su negocio gracias a los programas y recursos gratuitos que ofrece Centro.

Launching the San Francisco Kiva Hub

We are excited to share that as of September 1, 2021 Centro Community Partners (Centro) will be the Kiva Hub for San Francisco.

Joshua received a $9,000 Kiva loan to help open a community-driven cafe with a mission to support the sober community and help keep Ocean Beach clean.

Centro has collaborated with local organizations and supported entrepreneurs in San Francisco since the organization started in 2010. And when Centro became the Kiva Hub for Oakland and Alameda County in 2020, we started providing informal support to local San Francisco-based entrepreneurs.

With the expansion of the Centro’s Capital Hub, our team is looking to support more entrepreneurs and organizations in the city to cultivate the ecosystem and provide them access to Kiva’s interest-free microloans of up to $15,000.

What is Kiva US?

Kiva US is an online crowdfunding platform that provides entrepreneurs with 0% interest loans of up to $15,000. To qualify for a loan, applicants must be over 18 years old, not currently in bankruptcy, have a business located in the US, and the loan must be used for business purposes.

With a $10,000 Kiva loan, Reem was able to buy a utility truck and hire staff to grow her business, eventually opened a restaurant in San Francisco’s Mission District.

After the success of its international model, Kiva recognized the need to support local entrepreneurs in the United States and started the Kiva US program in 2011. Since then, Kiva US has provided over $3.5 million to 6,076 people throughout the country, including nearly $3.4 million to over 700 borrowers in Oakland.

What is Kiva Hub?

A local connection that guides borrowers and trustees through the Kiva process by providing on the ground support and personalized assistance.

Kiva Hubs are local organizations committed to the success of small business owners that agree to take responsibility for Kiva’s loan activity in a specific region. These organizations hire a Kiva-trained Capital Access Manager to guide borrowers through the loan process and assist the organizations (Trustees) supporting them with access to Kiva loans. Centro is honored to have been selected as the Kiva Hub for Oakland. In the near future, we will be supporting borrowers and their Trustees for all of Alameda County, as well as participants in all of the programs we provide.

We are here to help!

Centro’s Capital Hub has been able to help hundreds of entrepreneurs access capital through Kiva, Community Development Financial Institutions (CDFIs), government loans (PPP and EIDL) and grants. We’ve had a lot of success supporting entrepreneurs in Alameda County as the Oakland Kiva Hub, and expanding our support to San Francisco is a natural step for Centro. We look forward to continuing to work closely with local partners as we bring Kiva’s 0% interest loans (up to $15,000) to entrepreneurs in San Francisco.

Contact us

At Centro we have a team ready to support entrepreneurs to start or grow their business. Our goal is to have a single point of contact to assist in the application process, have a successful fundraising campaign, and have a positive experience when paying off your loan.

We have tools like Centro Business Planning App so that entrepreneurs can complete their business plan and navigate through the different local resources that can help them move forward.

Finally, we would like to invite all the organizations that are part of the Kiva ecosystem to join us in working with Centro so that more small businesses can participate in this experience and connect them with more financing opportunities.

Entrepreneurs

Read more about the eligibility requirements and application process on Kiva’s website. Please let us know if you’re interested in accessing a Kiva loan or have any questions.

Organizations

Learn more about becoming a Trustee on Kiva’s website. Please let us know if you would like to join as a Kiva Trustee or have any questions.

We’re here for you, so please reach out to us:

Verónica Gutiérrez, Capital Access Manager: KivaUS@centrocommunity.org

$1 Million in Kiva loans!

In January 2020 we officially launched the Centro Capital Hub as a way to connect Centro graduates and local entrepreneurs with different capital alternatives.

With this commitment in mind, we started a strategic alliance with Kiva in order to offer small business owners interest-free loans and assist in the application, fundraising and repayment process. As the Kiva Hub for Oakland and Alameda County, Centro became the main point of contact, ensuring a positive and successful experience for entrepreneurs and partner organizations.

After just 16 months, we’re excited to share that we have already helped 110 entrepreneurs reach over $1,000,000 in Kiva loans to support their small businesses and overcome the different challenges that this pandemic has presented them.

At a time when BIPOC and women struggle to receive financial support for their businesses, we are proud to share that of the people we helped access Kiva loans, 70% are women, 35% are Black, 44% are LatinX and 47% are immigrants.

As we became a Kiva Hub, we decided that we would require all borrowers to be endorsed by a trustee organization (including: the City of Oakland, Mandela Partners, Uptima Bootcamp, Prospera, Microfinance at Berkeley). Alternatively, if entrepreneurs complete Centro’s Business Planning App, we are happy to endorse their loans as well. This has contributed to a significant improvement in the repayment rate for Kiva loans in Alameda County, which now stands at 85% (previously it was at 73%).

Kiva loans serve as a great first step, as entrepreneurs look to access more capital to start their small businesses. As our entrepreneurs continue to grow, the Centro Capital Hub will continue to support them through larger Kiva loans, as well as connect them with local Community Development Financial Institutions (CDFIs) who can provide larger loans, as well as special relief loans and grants.

Get involved today!

• Want to lend to an entrepreneur? Sign-up to receive notifications of entrepreneurs looking for support for their Kiva loans.

• Want to support Centro Community Partners? Donate today!

• Need Capital? Contact the Centro Capital Hub.

Centro is searching for a partner to centralize our data systems!

Just like our entrepreneurs, we thrive when we partner effectively and continue to improve. We are ready to level-up our data systems so we can keep up with our amazing entrepreneurs, and engage with our wider community more effectively.

Today we release a request for proposal to find qualified vendors.

Please feel free to share this with a vendor you think would make a great asset to the Centro Community.

Important Dates

• Public Notice: Monday, April 5, 2021

• Deadline for Questions: Wednesday, April 14, 2021

• Response to Questions Posted by: Friday, April 16, 2021

• Deadline for Receipt of Proposals: Monday, May 3, 2021

• Estimated Notification of Decisions: Friday, May 21, 2021

Winner of MIT Solve Challenge 2021

We are honored and very excited to share we are one of the five winners of the Reimagining Pathways to Employment Challenge, presented by MIT Solve!

Read the full announcement here.

We congratulate the other winners - Arts2Work, ChargerHelp!, Generation USA and The Last Mile - as well as the close to 200 solutions submitted! We want to express our gratitude to the partners that sponsored the competition (Morgridge Family Foundation, New Profit, CSU Global, and IBM), as well as the judges.

Challenge Question: How can workers in the United States attain the knowledge and learn the skills needed to access sustainable jobs and livelihoods in the new economy?

Our solution is centered on Democratizing Entrepreneurship by leveraging Centro’s Business Planning App, an inclusive app empowering women and minorities to pursue entrepreneurship as a pathway towards employment and a secure financial future. Read Centro’s full submission for the MIT Solve Challenge here.

We are incredibly humbled and eager to continue to evolve and scale support for women and underserved communities to pursue entrepreneurship.

Finalists for The Workers Lab Innovation Fund Fall 2020

We are excited to announce that Centro was selected as one of the 10 finalist for The Workers Lab’s Innovation Fund for Fall 2020!

Read the Announcement by The Workers Lab:

Last September, we put out a call for innovations to support workers in “coming back” stronger from COVID-19 and the myriad of injustices and broken systems that predated the pandemic.

The response to the Fall 2020 cycle of The Innovation Fund was nothing short of amazing: We heard from 558 innovators in seven countries and 46 states across the United States.

We are excited to share our 10 finalists with you below. Each of the outstanding worker leaders has a new idea or innovative approach to strengthen and support the economic comeback of historically underserved workers impacted by the pandemic and systemic injustice. 

Their ideas take on a variety of issues facing workers - access to affordable child care and small business support, to training for green jobs of the future - but the through-line is putting power back in the hands of workers.

On January 21, 2021, at 9 AM PT, all of our finalists will participate in our Finalist Showcase. During this event, they will receive live feedback from participants as they pitch their ideas for a chance to win $150,000 from The Innovation Fund for their projects. For the first time we're opening our showcase to the public. If you are interested in attending, you can RSVP for our Finalist Showcase livestream and watch it all unfold.

Centro Founder and CEO Awarded AARP 2021 Purpose Prize

We are honored share that Centro Founder and CEO Arturo Noriega is a winner of the AARP 2021 Purpose Prize, along with Mark Barden (Cofounder and Managing Director, Sandy Hook Promise), Cindy Eggleton (Cofounder and CEO, Brilliant Detroit), Hope Harley (Cofounder and President of the Board, Bronx Children’s Museum), and Susan Tachu (Cofounder and CEO, Pennsylvania Assistive Technology Foundation).

See AARP’s presentation ceremony below and read AARP’s interview with Arturo and the other awardees.

AARP Purpose Prize

The AARP Purpose Prize award supports AARP's mission by honoring extraordinary people ages 50 and older who tap into the power of life experience to build a better future for us all.

“The AARP Purpose Prize is all about a new story of aging — focusing on experience and innovation and the idea that our aging population is an untapped resource full of possibilities,” said AARP CEO Jo Ann Jenkins. “AARP Purpose Prize winners and nominees are role models. They are makers and doers who are out there creating new solutions that make the world a better place for people of all ages.”

About AARP

AARP is the nation’s largest nonprofit, nonpartisan organization dedicated to empowering people 50 and older to choose how they live as they age. With a nationwide presence and more than 38 million members, AARP strengthens communities and advocates for what matters most to families: health security, financial stability and personal fulfillment. AARP also produces the nation’s largest circulation publications: AARP The Magazine and AARP Bulletin. To learn more, visit www.aarp.org or follow @AARP and @AARPadvocates on social media.

Sign up for free one on one business support

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Our team is committed to supporting entrepreneurs, as they look to start, grow and sustain their businesses through this current crisis. Since April, we have worked with around 100 entrepreneurs to help them access capital, restructure their business models, move to online platforms and create social media and marketing campaigns. We’ve been able to help close to 40 entrepreneurs receive funding from loans (including Kiva’s 0% interest loans, PPP, and other local microlenders) and grants.

Please let us know if we can help you or a friend. Sign up for free business support, by filling out our Emergency Rapid Response Form, emailing help@centrocommunity.org or calling (510) 556-4249 to talk with our advisors in English or Spanish.

If you are able to support Centro please consider donating to our Emergency Fund to Support Businesses Impacted by COVID-19.

Centro stands together in solidarity with Black communities and entrepreneurs.

All of us at Centro, have been listening and deeply reflecting on the traumatizing and violent events that our community and country have been going through. Centro’s mission has always been to challenge the broken systems that perpetuate discrimination and racism, and today we feel more than ever to be steadfast in our commitment.

As a team, we stand together in solidarity with the Black community.

We see the pain that Black colleagues, entrepreneurs, families, children, neighbors and friends are going through. We see you and we hear you. We are saddened and frustrated with the institutional systemic racism and discrimination that has continued to oppress Black communities for too long.

Today and every day we remain united with all people who have experienced racism, discrimination and abuse of their human rights. Centro condemns the violence and destruction of Black communities.

We want to raise our voices and keep the community spirit in supporting our entrepreneurs with fundamental values such as equality, respect, justice and inclusivity. We will continue working hard to create the structural changes that will meet the needs of those who have had their human rights suppressed for too long.  Supporting and protecting diverse communities is the cornerstone of progress for a better and a more just world that is long overdue.

In solidarity,

Centro’s Team

Centro Responding to COVID-19

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Dear Centro Community,

We hope that you and your family are healthy and safe. Our hearts go to those who are struggling the most and who have lost loved ones. We believe that the human spirit is strong and courageous, and that we must act collectively to help each other through the COVID-19 pandemic that is affecting each and every one of us in some way. It is a time to reflect, adjust our actions, and move forward with intention. This is a defining moment in our lives.

At Centro, we stand together. Our entire team is working from home to do our part to flatten the curve and we are making necessary adjustments that allow us to continue to offer support to small business entrepreneurs in our community. By shifting all of our programming online, Centro is able to continue its vital work during these challenging times.

Our team has already begun to support existing small businesses that need assistance accessing emergency government loans, and we are expanding our business advisory team to better help connect small business owners to available resources. Centro will be also providing entrepreneurship training online throughout the year and we are continuing to build our online capacity to better serve our entrepreneurs. I invite you to review (and share) our webpage with resources for business owners impacted by COVID-19.

I have learned that, in challenging times, we fall back on our values and the love we have for our family and our community. Only love can cast out fear, and the time for strong love is now. We will persevere together as a family, team, and community and will continue to build a better future for all of us.

If there is anything our team at Centro can do to help you, please let us know. We are inviting Centro’s entrepreneurs to fill out our COVID-19 Response Form. You can also email us at help@centrocommunity.org or call us at (510) 556-4249 to talk with our advisors in English or Spanish.

If you are able to support Centro please donate to our Emergency Fund to Support Businesses Impacted by COVID-19.

Sincerely,

Arturo A. Noriega

Founder & Chief Executive Officer

Centro is hosting the Kiva Hub in Oakland

This alliance between Centro and Kiva US is a new initiative to support the entrepreneurial ecosystem in Oakland. With the new Kiva Hub, entrepreneurs and organizations will have a single point of contact to help them access interest-free microloans.

What is Kiva US?

With a $10,000 Kiva loan, Reem was able to buy a utility truck and hire staff to grow my business, eventually opening her first location in Oakland’s Fruitvale District.

Kiva US is an online crowdfunding platform that provides entrepreneurs with 0% interest loans of up to $10,000. To qualify for a loan, applicants must be over 18 years old, not currently in bankruptcy, have a business located in the US, and the loan must be used for business purposes.

After the success of its international model, Kiva recognized the need to support local entrepreneurs in the United States and started the Kiva US program in 2011. Since then, Kiva US has provided over $3.5 million to 6,076 people throughout the country, including nearly $3.4 million to over 700 borrowers in Oakland.

What is Kiva Hub?

A local connection that guides borrowers and trustees through the Kiva process by providing on the ground support and personalized assistance.

Luis received a $10,000 Kiva loan to help purchase a commercial ice-cream maker for his new location, allowing to produce more ice-cream, more efficiently and hire local people from the community.

Kiva Hubs are local organizations committed to the success of small business owners that agree to take responsibility for Kiva’s loan activity in a specific region. These organizations hire a Kiva-trained Capital Access Manager to guide borrowers through the loan process and assist the organizations (Trustees) supporting them with access to Kiva loans. Centro is honored to have been selected as the Kiva Hub for Oakland. In the near future, we will be supporting borrowers and their Trustees for all of Alameda County, as well as participants in all of the programs we provide.

What does this mean for local entrepreneurs and organizations?

We are excited to welcome Verónica Gutiérrez to join Centro as our Capital Access Manager. She will serve as the main point of contact for all borrowers looking for Kiva loans, as well as organizations looking to provide their communities with access to capital within Alameda County. With a Capital Access Manager on hand, Centro will ensure that borrowers and organizations have a positive and successful experience with Kiva.

Entrepreneurs

Read more about the eligibility requirements and application process on Kiva’s website. Please let us know if you’re interested in accessing a Kiva loan or have any questions.

Organizations

Learn more about becoming a Trustee on Kiva’s website. Please let us know if you would like to join as a Kiva Trustee or have any questions.

We’re here for you, so please reach out to us:

Verónica Gutiérrez, Capital Access Manager: KivaUS@centrocommunity.org

We understand that capital access is a permanent challenge for entrepreneurs. For this reason, we want to be a welcoming option to support and build successful businesses in Oakland. Be part of this initiative!

Centro Interviewed on NBC Bay Area

We are excited to share our interview with Damian Trujillo on NBC Bay Area's Comunidad Del Valle. Thanks, Damian!

The Bay Area’s Flipped Classroom for Small Business Entrepreneurs

What if there is a better way to teach entrepreneurship to new small business owners? What would it look like? These were the questions we dared to ask ourselves 8 years ago. And since then we keep finding new and better answers for them in an effort to create the best learning for busy women, recent immigrants, veterans and other new small business entrepreneurs in our programs.

When we first started developing the Centro Business Planning App, we knew that we wanted to use it to help improve our entrepreneurship-training program. However, initially, we struggled with the question of how mobile technology could be used in a classroom environment.

Our inspiration came from what was, at the time, a revolutionary approach to education that had been pioneered by the Khan Academy: The Flipped Classroom. The fundamental idea behind the Flipped Classroom methodology is that instead of listening to a lecture in class and doing homework assignments afterwards, students should watch a video of the lecture before coming to class and they should do their homework in the classroom, so that their teacher is actually available to help them when they have questions.

We took our own spin on this amazing idea and designed our app with the idea that entrepreneurs could complete a few app activities before class that would introduce the entrepreneurs to the topic and help them prepare for discussion.

This simple idea gave us a clear understanding of how we could use the Centro Business Planning App to enhance our training program. It was the spark that set off a chain-reaction of discovery and innovation at Centro. Our app is the main student tool used in our Basic Entrepreneurship Program, and right now, an average of 70% of the participants of the program are able to launch their business within 9 weeks of completion. Among them, 82% report an increase in their income and 76% report an increase in their savings.

“We are excited to innovate in the classroom and see the impact outside the classroom as these new entrepreneurs experience a boost in their morale and their personal finance. Setting them up for success is what we thrive to do best!”

— DJ Healy, Senior Program Manager

Learn More