Sharquita Pearson has always been passionate about working with children. She relocated to Arizona from Illinois as a teenager to help raise her younger brothers and sisters. Today, as the owner and operator of Little Giants Daycare and Learning Center in Phoenix, Sharquita has harnessed her love of children and learning into a livelihood that serves her community.
“It amazes me what kids are capable of at such a young age,” Sharquita says. “Watching them learn to crawl, walk, and say simple words makes my heart melt. I’m so excited to give Little Giants a fun and exciting place to play and learn.”
When she needed funding to support her growing business, Sharquita applied for a small business loan with DreamSpring, a nonprofit community development financial institution serving Arizona and 18 additional states. With funds to expand, Sharquita has sustained jobs, increased enrollment of infants and young children, and enhanced her curriculum to emphasize music, movement, mathematics, play, art, and language.
Every day, entrepreneurs like Sharquita quickly access affordable small business capital through DreamSpring’s innovative hybrid lending model, which combines a streamlined online application process with tailored support from a community-minded staff. With options for self-directed or guided workflows, small business owners can access funds in the format that best meets their needs. DreamSpring has a deep commitment to economic opportunity as well as a network of resource providers, providing ongoing encouragement and support to small business owners — empowering entrepreneurs, creating pathways to prosperity, and vitalizing communities.
In March, DreamSpring was selected as one of the World’s Most Innovative Companies for 2022, Fast Company magazine’s prestigious annual shortlist of global changemakers. The award recognizes DreamSpring’s unique combination of mission-driven lending and technological enablement, which gets money into the hands of small business owners not only quickly, but equitably.
“We believe that human potential is unleashed when all people have the opportunity to shape their own future,” says DreamSpring Founder and President/CEO Anne Haines. “We exist to break down systemic barriers that inhibit that reality for people, and we do it through entrepreneurship. As the needs of small business owners evolve, our team will continue to create innovative solutions that carry a transformational impact.”
The COVID crisis spurred DreamSpring, a 30-year-old institution, to break new ground in its overall strategy and breadth of service coverage. On the heels of the pandemic, Haines launched a bold growth plan to scale the organization’s impact tenfold by leveraging technology and digging into placemaking work.
With a combination of leading-edge partnerships, philanthropic support, and a savvy approach to technology, DreamSpring was able to surpass its ambitious goal last year. DreamSpring provided $225 million in capital through 26,000 small business loans in 2021 — a dramatic increase in volume over prior years. To respond to the unprecedented demand from small business owners, DreamSpring invested in technological enhancements that expedited loan decisions and streamlined the client experience. DreamSpring clients created or retained over 44,000 jobs despite economic uncertainty, thanks to funding and ongoing resources provided by the organization.
“We are powered by technology and a commitment to economic justice,” says Francisco Lopez, DreamSpring’s Chief Operations and Innovation Officer. “The combination of a tech-enabled approach and a deep mission focus continues to drive us forward.”
Because of DreamSpring and its innovative, award-winning lending model, Arizona entrepreneurs like Sharquita can thrive. Learn more about DreamSpring and community development financial institutions at www.DreamSpring.org.
