GiVE NOLA DAY

Propeller: A Force for Social Innovation

About this Organization

Propeller supports entrepreneurs, with a focus on Black native New Orleanians, who view their businesses as catalysts for positive change in the community. In a city that is 60% Black, centering Black entrepreneurs enables us to close the racial wealth gap and raise economic opportunities citywide. Our 2024 programs include the Impact Accelerator, technical assistance to help ventures access capital and win contracts, a $3M seed equity fund, and a coworking facility. In 2024: 300+ entrepreneurs joined our programs (Impact Accelerator, Financial Wellness Collaborative, Fund II, IPTAP, Alumni Services, and more). 18 ventures in the 2024 Impact Accelerator reported a five-month total revenue of $508,705. 10 ventures secured 18 contracts totaling $5.268M, creating 16 jobs and sustaining 32 jobs. 71 BIPOC business owners gained support with loan packaging, financial statements, and accounting. Propeller made 31 introductions to loan officers and facilitated 14 loan applications, driving $1.785M in approved loans. We invested $100,000 directly in 2 Black-owned Louisiana adaptogenic beverage companies. 157 members representing 82 organizations utilized our 10,000sf Coworking space.

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