In a city where traditional bank lending often shuts out women entrepreneurs, one nonprofit has spent more than a decade proving that the real risk is not giving them a chance. The Women’s Enterprise Action Leadership Fund (WEALF) gathered prominent leaders in Midtown Manhattan this week to celebrate a track record that challenges the very foundations of small-business lending.
WEALF, New York’s only organization offering five-figure, interest-free business loans without collateral or guarantors, rewrites rules for Success
I strongly believed women with determination to build businesses deserved a chance; I was told it was too risky. 11 years later, their accomplishments & our repayment rate of over 90% prove my belief.”— Vicki Weiner
One hundred prominent women entrepreneurs, business and community leaders, philanthropists, corporate executives, and elected officials—including State Senator Liz Kruger, City Council Speaker Julie Menin, and NY State Assembly member Rebbeca Seawright—gathered in Midtown Manhattan today for Rewriting the Rules for Success, a celebration of women business founders supported by the nonprofit Women’s Enterprise Action Leadership Fund.
The gathering challenged conventional assumptions about who deserves access to business financing and what it takes to succeed. Guests heard compelling accounts from first-generation entrepreneurs, bold women who pivoted from job security, without a safety net or connections, to launch businesses as diverse as the women themselves. With WEALF loans and mentors, these women built businesses ranging from brick-and-mortar neighborhood shops to national brands competing in domestic and international markets.
Beyond A Decade of Impact: WEALF closes the Funding Gap
WEALF remains unique in New York City. Over its eleven-year track record, it has proven that women-owned businesses defy conventions to succeed and are good credit risks. It has provided more than $1.2 million in interest-free and subsequent low-interest signatory business loans—without collateral or guarantors—to more than 150 businesses across the New York area, achieving a remarkable 90 percent repayment rate. Initial loans of up to $10,000 are interest-free. Additional rounds carry a 3 percent interest rate.
WEALF loans have helped these businesses grow, avoiding costly financing. The Fashion Class grew from an after-school program into a national franchise, while Brooklyn Piggies expanded from a food truck into a nationwide wholesale and e-commerce business. Sant M Shoes more than tripled its revenue and used its first institutional line of credit to finance inventory. Monday’s Pottery, featured in Architectural Digest, increased production to meet demand and began collaborating with designers on specialized home accessories. Many of these businesses have also received media recognition, from the New York Times to Guy Raz’s influential podcast, How I Built This, for building substantial, sustainable enterprises.
To scale, these committed, capable women, whose first-round financing often comes from bootstrapping, are too often denied access to conventional financing for working capital and operating expenses, forcing them to rely on costly credit card debt or alternative financing with usurious terms. A five-figure WEALF loan acknowledges that a woman who has created a business has the determination and confidence to succeed and deserves the finances to make it work. WEALF does not discriminate by zip code, ethnicity, age, business or personal credit score.
Proof: Success Writes its own Rules
WEALF’s eleven-year growth reflected the afternoon’s theme, “Rewriting the Rules for Success.” Founder Vicki Miles Weiner, former CEO of an investor relations and corporate communications firm and a 2025 Crain’s Notable Leader in Philanthropy, established the nonprofit to provide signatory credit based on business strength, borrower commitment, and a clear vision of their potential business’s success. Each loan is paired with hands-on mentoring from seasoned women executives volunteering their time and expertise.
Ms. Weiner said, “When I first proposed making interest-free business loans without conventional credit requirements, I was told it was too risky and couldn’t be done. I strongly believed women with talent, courage, and determination to build businesses deserved a chance. Eleven years later, their accomplishments and our repayment rate of over 90% prove what I believe."
WEALF has grown exponentially, offering networking opportunities, introductions to specialists, business education workshops, peer-to-peer support, and partnerships with experts to accelerate growth and financial management.
The Program: Recounting “Success” Women Tell it Like It Is
WEALF women's hard-won successes were recounted by the women whose businesses reflect achievement, creativity, and ambition, and by the mentors who believe in them.
Julie Menin, NY City Council Speaker, and former small business owner
Opened the program
Featured entrepreneurs included:
Rianna Young — Happy Hounds
With a background in government and politics, Ms. Young founded Happy Hounds, offering CBD-based treats and tinctures for dogs experiencing anxiety and discomfort.
Maria Boustead — Po Campo
An industrial designer turned entrepreneur, Ms. Boustead founded Po Campo, a lifestyle brand creating stylish, functional bags for cycling and outdoor adventures. The company has grown into a nationally distributed business, with retail and e-commerce sales approaching $1 million annually.
Sandy Bastien — Serial Entrepreneur and Inventor
Mother of five, Ms. Bastien has launched several ventures, including Plumeria Bouquets, which creates silk floral arrangements for weddings and celebrations, and BabaLid, a patented baby-bottle accessory sold online. She is also developing Moms Who Shop, a curated e-commerce marketplace for infant and toddler products. Through her businesses, she advances her commitment to early-childhood literacy.
Aya Ran — ARPoncho
With a background in fashion and menswear design, Ms. Ran founded ARPoncho, a line of stylish, waterproof rain ponchos for women, men, children, and dogs. She built her brand through outdoor markets, retail outlets, e-commerce, and social media, showing the resourcefulness needed to compete in today’s marketplace.
WEALF mentors Karen Pearse, founder of Karen Pearse Global Direct, who started her company in 1981 with $5000 and is now recognized as the foremost global source for natural stone and architectural stone; and Sara Frank, former CEO of BBC Commercial USA subsidiary and chair of the WEALF applicant committee, shared their experiences.
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About Women’s Enterprise Action Leadership Fund: Founded in 2015, WEALF, a nonprofit, dedicated to helping women achieve financial self-sufficiency through business ownership. WEALF provides interest-free and low-interest loans, individualized mentorship, and resources for underserved women entrepreneurs in the New York City area. Its mission is to ensure that entrepreneurial opportunity is determined by talent, determination, and potential. WEALF administers loans through its lending partner, Accompany Capital, a CDFI, enabling women to build a commercial credit relationship as they repay loans.
Melanie Radley
Women's Enterprise Action Leadership Fund
+1 2128774704
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Rewriting the Rules for Success
Why it matters: WEALF’s 90% repayment rate over 11 years directly challenges the banking industry’s assumption that women without collateral or perfect credit are too risky. If this model can scale, it could reshape how underserved entrepreneurs across the country access the capital they need to build sustainable businesses.
