In a financial landscape where women founders are routinely told their businesses are too risky for conventional capital, a New York nonprofit is proving that assumption wrong—one five-figure, interest-free loan at a time. The Women’s Enterprise Action Leadership Fund (WEALF) gathered 100 prominent entrepreneurs, officials, and philanthropists in Midtown Manhattan today to mark a decade of rewriting the rules for who gets access to business financing.
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
The event, dubbed “Rewriting the Rules for Success,” drew State Senator Liz Kruger, City Council Speaker Julie Menin, and NY State Assembly member Rebbeca Seawright, alongside women business founders supported by the nonprofit Women’s Enterprise Action Leadership Fund. The room heard firsthand accounts from first-generation entrepreneurs and women who pivoted from job security—without safety nets or connections—to launch ventures as varied as the founders themselves, from neighborhood brick-and-mortar shops to national brands competing on global stages.
WEALF’s model stands alone in New York City. Over its eleven-year track record, it has dispelled the notion that women-owned businesses are poor credit risks, providing 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. The result: a remarkable 90 percent repayment rate. Initial loans of up to $10,000 carry no interest, while additional rounds are offered at a modest 3 percent rate.
The impact extends beyond simple financing. The Fashion Class evolved from an after-school program into a national franchise; Brooklyn Piggies grew from a food truck into a nationwide wholesale and e-commerce operation; Sant M Shoes more than tripled its revenue and secured its first institutional line of credit for inventory. Monday’s Pottery, featured in Architectural Digest, scaled production and began collaborating with designers on specialized home accessories. Many of these businesses have earned media recognition, from the New York Times to Guy Raz’s podcast, How I Built This.
The core problem WEALF addresses is stark: women whose first-round financing comes from bootstrapping are frequently denied conventional working capital and operating expense loans, forcing them into costly credit card debt or predatory alternative financing. A five-figure WEALF loan signals confidence in a woman’s determination and business acumen, regardless of zip code, ethnicity, age, or credit score.
Founder Vicki Miles Weiner, a former CEO of an investor relations 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 success. Each loan is paired with hands-on mentoring from seasoned women executives who volunteer their time and expertise.
Ms. Weiner reflected on the skepticism she faced: “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.”
The organization has since grown to offer networking opportunities, specialist introductions, business education workshops, peer-to-peer support, and expert partnerships to accelerate growth and financial management.
The program featured stories of resilience and ambition, recounted by the women themselves and the mentors who champion them. City Council Speaker Julie Menin, a former small business owner, opened the proceedings.
Featured entrepreneurs included Rianna Young of Happy Hounds, who leveraged a government and politics background to create CBD-based treats for anxious dogs. Maria Boustead, an industrial designer turned entrepreneur, founded Po Campo, a lifestyle brand for cycling and outdoor adventures that now approaches $1 million in annual retail and e-commerce sales. Sandy Bastien, a mother of five and serial inventor, launched Plumeria Bouquets for weddings and BabaLid, a patented baby-bottle accessory, while developing Moms Who Shop, a curated e-commerce marketplace. Aya Ran, with a background in fashion design, built ARPoncho—a line of stylish waterproof ponchos for humans and dogs—through outdoor markets, retail, e-commerce, and social media.
Mentors Karen Pearse, founder of Karen Pearse Global Direct, and Sara Frank, former CEO of a BBC Commercial USA subsidiary and chair of the WEALF applicant committee, shared their insights.
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Founded in 2015, WEALF is a nonprofit dedicated to helping women achieve financial self-sufficiency through business ownership. It provides interest-free and low-interest loans, individualized mentorship, and resources for underserved women entrepreneurs in the New York City area, administering loans through its lending partner, Accompany Capital, a CDFI. This structure enables women to build commercial credit relationships 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 percent repayment rate challenges a core assumption in institutional lending—that women-owned businesses without traditional credit histories are high-risk. By demonstrating that talent and determination can be better predictors of success than a credit score, this model offers a replicable blueprint for closing the funding gap that continues to stifle women entrepreneurs nationwide.
