Pathway to Enterprise for Returning Citizens
Pathway to Enterprise for Returning Citizens (PERC) was founded by Greenwood Archer Capital in 2016, as a multi-collaborative of community partners committed to addressing recidivism through entrepreneurship; one of the first programs of its kind in Illinois.
According to the Illinois Department of Corrections (IDOC), Illinois released 28,412 inmates in 2016. Returning citizens often lack many of the resources necessary for a successful transition back into their communities including their ability to find and sustain jobs. Economic opportunities and financial resources such as a stable job break the cycle of recidivism. 82% of returning citizens who find steady employment do not recidivate, however;
Returned citizens have great difficulty finding regular employment since many businesses will not hire individuals with criminal records.
Nationwide data shows that only 45% of returning citizens have employment 8 months after release
Eligibility requirements for entrepreneurial training program:
Served at a State or Federal prison
Have a business idea
Interested in starting a business
21 yrs+
Released from prison or jail within the last 15 years* (exceptions apply)
Have questions? Interested in learning more? Email us at info@greenwoodarchercapital.org.
This quandary is a persistent social justice issue for formerly incarcerated citizens. In 2018, GAC began its partnership with Sunshine Enterprises (SE), to offer post-release entrepreneurship training, coaching, mentoring, and technology to aid previously incarcerated individuals in launching businesses. PERC entrepreneurs participate in SE’s 12-week Community Business Academy (CBA), business coaching, and business acceleration coaching.
COMMUNITY TRAINING
This PERC track is designed for those entrepreneurially minded individuals that have already transitioned back to their communities yet continue to be plagued with economic barriers that impede on the ability to live a meaningful life.
PERC’s community training is offered in 2 separate tracks. Individuals who are not yet ready to start their business and are still in the ideation phase are referred to PERC training partner, Sunshine Enterprises (SE). SE provides training through their 12-week, Community Business Academy. This track is called On the Runway. Individuals who are ready to launch their business or have recently began operating their business are part of an 8-week training using the Business Canvas Model as a guide. This track is called Ready to Launch.
The training covers topics like budgeting, target markets, bookkeeping, cash flow, business operations, and credit building in a dynamic learning environment. Classes are held once a week in the evenings.
PERC provides its participants with access to loan capital through its Perks for PERC Loan Program. The Perks for PERC loan is reserved for previously incarcerated individuals who have successfully completed the PERC entrepreneurial training program or have been in business for at least one year.
Perks for PERC loan terms:
Installment Loan Up to $10,000
Up to 36 months
6.00% Interest rate
Monthly Principal & Interest payments
No minimum credit score for eligibility
No prepayment penalties
3% Origination fee (may be financed in the loan)
Unsecured loan
Automatic monthly payments required
(Additional Funding is available. Requirements will vary)
To apply for funding, loan applicants will be required to produce the following:
Present a feasible business plan/business canvas model
Provide a schedule that identifies the use of funds
Provide a timeline for implementation
Can demonstrate the ability to repay a loan either from wages or other available income.
Volunteer
Join us for a coaching day in prison, become a post-release mentor, or share your expertise as a workshop leader or guest instructor. PERC seeks successful business executives, entrepreneurs, investors, and other skilled professionals to coach and mentor PERC Participants. You will use your core competencies to “pay it forward.” If you believe in underdogs, you’ll love volunteering with PERC in workshops, coaching, mentoring, and more.