As part of our mission to empower Black CDFI CEO members, The Alliance’s Women-Led Initiative addresses the unique capacity building needs of our Black female CEO members who systemically face racial and gender resource inequities. Each newsletter we will highlight the successes of our Black female CEO members. Our next success story is from Stacy Rhone, President and CEO of BiGAUSTIN.
Founded in 1992, BiGAUSTIN is a non-profit organization dedicated to empowering the low-income and minority communities in Austin, Texas, through economic and community development. Initially a section within the City of Austin’s Department of Neighborhood Housing and Community Development, BiGAUSTIN’s impact grew significantly by 1995, leading it to become a separate agency better able to serve the Black community’s economic and community needs.
Under Stacy’s leadership, BiGAUSTIN has achieved significant milestones including earning certifications as a Community Development Entity (CDE) and Community Development Financial Institution (CDFI), as well as distinctions as an SBA Lender and SBA Women’s Business Center. These accomplishments enable BiGAUSTIN to offer microlending, education, and training programs that support the growth of small businesses and encourage affordable housing initiatives. These programs allow BiGAUSTIN to help borrowers like Sue Spears change their lives and preserve their legacy.
To ensure that BiGAUSTIN remains competitive, Stacy joined the Alliance in 2021. The wealth of resources available, networking, and capacity-building opportunities for her and her team have been invaluable. Stacy’s experience at the Alliance’s 2023 Annual Meeting and Conference, inspired her to launch BiGAUSTIN’s Legacy program, designed to help African Americans maintain, renovate, and build property. The program works to prevent predatory development, reduce property taxes for aging residents, and provide property tax loans that can become reconstruction loans. Through this and other efforts, BiGAUSTIN continues to make a profound impact on the community.
The Alliance is excited to see what Stacy and BiGAUSTIN do next.
To learn more about the Women-Led Initiative click here.
