From Vision to Reality: How Arka HR Solutions Leveraged BEI Advisory Services and Capital for Expansion
Arka HR Solutions was founded by visionary Latina entrepreneurs, Marcela Aldaz-Matos and Andreina Viera Silva, united by their passion for delivering exceptional Human Resources (HR) services.
Marcela has served as an executive in Fortune 500 companies, leading teams in the financial services and healthcare sectors, domestically & internationally. She is currently Arka’s CEO and the founder of MCBI Advisors LLC.
Andreina brings 20 years of business executive and entrepreneurial experience, managing infrastructure for Fortune 500 companies and higher education institutions. She is the founder of The Vieras and the non-profit, Boss Lady.
Recognizing the need to scale their business effectively, Marcela and Andreina, despite their deep HR expertise, sought additional skills in marketing, operations, and technology. They both previously participated in the Business Equity Initiative (BEI) program as consultants and witnessed the significant support and acceleration it provided to businesses. Eager to leverage this for Arka, they applied and enrolled in the BEI program.
Challenges – Marcela and Andreina with their BEI Strategic Advisors narrowed down their biggest challenges:
Market Visibility: Despite offering valuable services, Arka struggled with market visibility. They needed assistance in developing a comprehensive marketing strategy to enhance brand awareness, attract new clients, and expand their market reach.
Operational Efficiency: The Arka team realized the need to streamline workflows and optimize resource allocation to boost productivity and effectiveness but lacked the expertise to make these improvements independently.
Solutions – Collaboratively, Marcela, Andreina, and their BEI Strategic Advisors focused on the following actions:
Marketing plan and execution:Developed a detailed marketing strategy and plan, which included launching a website, creating capability statements, initiating a monthly newsletter, and starting a blog to enhance brand recognition and expand market reach.
Operations analysis and optimization: Conducting a detailed review of workflows and operations, identified gaps and optimized resource allocation, laying a clear roadmap for improved efficiency and scalability.
Capital funding and assistance: BEI connected Arka HR with the Boston Foundation’s Business Equity Fund (BEF), aiding in a successful loan application, and providing support in documentation and communication.
Impact – Arka was able to successfully work through their challenges and achieve the following:
200% Growth in LinkedIn Audience: Arka bolstered its brand presence with a well-defined marketing strategy.
800+ Hours of Bilingual Training: Launched Arka Academy, a training and development service, training over 200 employees in both English and Spanish.
Community Impact through Funding: Securing the BEF loan from the Boston Foundation allows Arka to expand operations, create jobs, support local suppliers, and contribute to local economic growth.
“Overall, our participation in the Business Equity Initiative (BEI) program was driven by a desire to overcome specific challenges and position our business for long-term success and impact in our community. Through collaboration with the program team and fellow entrepreneurs, we were able to address these issues proactively and make significant strides towards achieving our growth objectives.” Marcela Aldaz-Matos, Co-Founder and CEO, and Andreina Viera Silva, Co-Founder and President, Arka Hr Solutions
Massachusetts businesses and donors could benefit from $375,000 in state tax credits recently awarded to Nectar Community Investments.
The credits give donors a 50% break on their state taxes for contributions to Nectar, a community development financial institution that assists small-business owners and homeowners with guidance and capital.
The nonprofit works in Massachusetts communities where there’s usually not much access to either.
In a news release Tuesday, Nectar said it received the maximum award under the Community Investment Tax Credit Program of the Massachusetts Executive Office of Housing and Livable Communities.
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Small Business Loan Officer Kristin Wallace recently served on a panel at the City of Lawrence’s Capital Access event, where she connected with local small business owners, startups and aspiring entrepreneurs about how Nectar’s products can support their growth. We caught up with Kristin after the event to hear her perspective on the challenges that small businesses face in accessing capital and what resources are available to them here in Massachusetts.
For small businesses looking to grow, what are some of the biggest barriers in accessing capital?
Many of the entrepreneurs we serve face systemic barriers that go far beyond credit history or collateral. Racism, language access challenges, immigration status, gender bias, and limited access to fair and affordable financial products all contribute to persistent funding gaps. Capable, experienced business owners in historically disinvested communities are often denied capital because traditional financial systems were not designed with their experiences or realities in mind. As a result, entrepreneurs of color, women business owners, and low-income entrepreneurs are frequently underfunded — not because they are underprepared, but because the system itself is not equitable.
What is Nectar doing to overcome those barriers?
Nectar is committed to reimagining how capital flows to historically disinvested communities. We …
Nectar Community Investments, a community development financial institution (CDFI) and community development corporation (CDC), has received $375,000 in tax credits from the Massachusetts Executive Office of Housing and Livable Communities Community Investment Tax Credit (CITC) program. Nectar received the maximum award, which incentivizes donors with a 50 percent refundable state tax credit to support the organization’s work of providing capital, advisory services and other assistance to small business owners and homeowners.
“We’re grateful to the Healey-Driscoll Administration for this impactful award, which recognizes the integral role that CDCs like Nectar play in building generational wealth in Massachusetts,” said Nectar Executive Director Glynn Lloyd. “As we continue in our mission to grow the assets and wealth of underserved communities, we encourage donors across the Commonwealth to take advantage of this win-win opportunity: earning state tax credits while investing in economic mobility, climate resilience and more.”
Since its launch in 2012, the CITC program has been a flexible, unrestricted and integral source of funding for CDCs and civil society organizations (CSO), promoting local innovation and long-term impact. At Nectar, CITC contributions seed new programs and drive innovations, support ongoing programs and operations, fill funding gaps, and leverage other resources. Donors receive a 50 percent …
