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
U.S. Treasury award increases available capital in mission to build generational wealth
Nectar Community Investments, a certified community development financial institution (CDFI) and community development corporation (CDC) that provides loans, investments, strategic advice and advocacy for small businesses and homeowners in Massachusetts and Rhode Island, has won an $800,000 U.S. Treasury Community Development Financial Institutions Fund (CDFI Fund) Financial Assistance Award. Nectar, formerly known as the Lowell Community Loan Fund dba Mill Cities Community Investments, will use this award to deploy loans and equity to the people and places that need it most, coupled with high-quality advisory services to ensure their success.
“The supply of capital is a challenge for CDFIs around the country, and the demand for CDFI Fund awards this year shows the great need for investing in historically underserved communities,” said Nectar Executive Director Glynn Lloyd. “We’re grateful to the CDFI Fund for this infusion of dollars to support our programs, and we look forward to deploying this capital across New England as we continue to innovate, advance environmental justice and positively impact our communities.”
Applications in fiscal year 2024 were at an all-time high, with a 42 percent increase in applications for Financial Assistance Awards compared to last year. …
Thanks to everyone who joined us for our event on October 16 at the Vault Function Hall in Lawrence! We were thrilled to celebrate our new name and brand with our friends in the Merrimack Valley. Special thanks to Chrystal Kornegay, Chief Executive Officer of MassHousing, and María Belén Power, Undersecretary of Environmental Justice & Equity for offering their insights on the mechanisms and solutions we need to make sure no one is left behind in the clean energy transition. And many thanks to our friends from the Lawrence Partnership for attending with your members. Our Nectar team left the event even more determined and energized to serve and advocate for our communities!
Join our diverse and innovative team driving environmental justice. As a Program Manager, you will oversee and complete program management and implementation of Nectar Community Investment’s environmental justice priorities. We’re focused on increasing environmental sustainability by providing energy efficiency and renewable energy advisory and financing solutions to homeowners and small businesses. This current opportunity as a program administrator is to lead a Coalition of three lead partner organizations in carrying out the Merrimack Valley Energy Efficiency Enrichment Program work. Learn more about this opportunity.
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