Primary Department: Purchasing
Primary Department Head/Elected Official: Kimberly J. Williams, JD
Secondary Department: Economic Equity and Opportunity
Secondary Department Head/Elected Official: Estella Gonzalez
Regular or Supplemental RCA: Regular RCA
Type of Request: Contract - Amendment
Project ID (if applicable): 230451
Vendor/Entity Legal Name (if applicable): PeopleFund
MWBE Contracted Goal (if applicable): 0%
MWBE Current Participation (if applicable): N/A
Justification for 0% MWBE Participation Goal: 0% - Minimal MWDBE Availability
Grant Indirect Costs Rate (if applicable):
Justification for 0% Grant Indirect Costs Rate (if applicable): Choose an item.
Request Summary (Agenda Caption):
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Request by the Office of the Purchasing Agent that the County Judge execute an amendment to an agreement with PeopleFund to update the scope of work (Exhibit C) for revolving loan fund program for the Department of Economic Equity and Opportunity for the period of May 7, 2024 - October 1, 2029, with no increase in the total contract amount (230451), Justification for 0% MWBE Participation Goal: 0% - Minimal MWDBE Availability.
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Background and Discussion:
On May 7, 2024, the Harris County Commissioners Court approved the selection and award of vendor PeopleFund to administer the Harris County Opportunity Fund, providing loans to eligible small businesses through an equitable underwriting process. The Harris County Opportunity Fund launched on October 1, 2024. The overall goal of the program is to improve small businesses' access to capital and thus aligns with the County's small business priority outcome to "support the formation, survival, and growth of small and micro businesses."
On October 29, 2024, Harris County Commissioners Court approved the amendment that extended the term and altered the principal repayment schedule to ensure this pilot program gets five (5) full operational years.
This second amendment seeks to expand the range of growt...
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