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
NECTAR COMMUNITY INVESTMENTS PROVIDES FIRST LOANS TO RHODE ISLAND BUSINESSES
Nectar Community Investments, a community development financial institution (CDFI), today announced its first set of financings for four Providence small businesses: Dolce & Salato, Ja Patty, Nuñez, and Stack House. All four businesses are using the funds to make a positive impact in the community by opening new spaces, expanding their operations or renovating existing facilities.
“Rhode Island is a dynamic state with a thriving small business landscape, and we’re excited to join the ecosystem and offer our skills and resources to its innovative entrepreneurs,” said Nectar Executive Director Glynn Lloyd. “We look forward to watching Dolce & Salato, Ja Patty, Nuñez and Stack House continue to grow and become anchors of their Providence neighborhoods.”
Nectar specializes in providing flexible growth capital, technical assistance, and strategic advisory services to small business owners and homeowners in historically disinvested communities. In various reports, Rhode Island-based researchers had identified gaps in the state’s economic ecosystem for this type of support, so Nectar joined forces with ecosystem collaborators in early 2024 to expand our network and increase awareness of new capital opportunities for small businesses. Nectar received crucial support from the Rhode Island Foundation to expand its …
Thank you to all who joined us at Artists for Humanity in Boston! Looking around the room, we were incredibly grateful for the community who gathered there to connect, persevere, resist, build, learn and celebrate. With the upheaval and changes happening around us, these types of events feel essential in our pursuit of a future full of economic justice. Thank you again for being there.
A huge congratulations to our Business Equity Initiative cohorts on their official graduation last night. Special thanks to Karilyn Crockett for her informative, thought-provoking presentation on how history provides lessons to achieve our mission today. As she put it, we are the waymakers — the ones who make a path, who tell the truth, who make change happen.
We’re taking that energy into the months and years to come. Let’s embrace our essence and double down on our work as waymakers. We’ll see you in the work.
Nectar Community Investments, with the Boston Foundation and the Local Enterprise Assistance Fund, provided a $900,000 financing package for construction and launch of a Vicente’s Supermarket branch at 452 Mount Pleasant St.
Vicente’s estimates the store has created about 30 construction jobs through 10 contractors, most owned by people of color.
Read the Article
