What is the name of your organization?
Mona
What is the name of your solution?
Mona
Provide a one-line summary or tagline for your solution.
Mona is an AI-driven platform connecting underbanked entrepreneurs across the globe to mission-driven loans and grants.
In what city, town, or region is your solution team headquartered?
Jacksonville, FL, USA
In what country is your solution team headquartered?
United States
What type of organization is your solution team?
For-profit, including B-Corp or similar models
Film your elevator pitch.
What specific problem are you solving?
The biggest challenge facing small businesses – especially those led by underbanked entrepreneurs like women, refugee, minority, and rural entrepreneurs – is accessing affordable, trustworthy capital. In the U.S., for example, 77% of the 33M small business owners are concerned about their ability to access capital, and about half believe they have no access to loans.
Although more funding is certainly needed, the primary problem we see daily isn’t a lack of available capital – billions in mission-driven grants and loans exist, including for entrepreneurs with low credit and revenue – but rather systemic barriers that prevent access:
+Lack of Awareness: 80% of Mona entrepreneurs who received affordable loans previously thought there were no funding options for them.
+Lack of Trust: Due to high rejection rates and predatory practices among minority communities, many don’t trust existing financial systems.
+Complexity: 44% of small business owners don’t apply for loans due to perceived ineligibility or overwhelming processes.
+Lack of Guidance: Language, tech, and legal barriers make navigating applications difficult for many.
Mona addresses each pain point by increasing awareness, building trust through community partnerships, simplifying applications with AI, and offering personalized guidance – unlocking access to capital for entrepreneurs who need it most.
What is your solution?
+Solution: Mona is an AI-powered platform that helps underbanked entrepreneurs quickly access the funding they need to grow. Instead of navigating dozens of confusing, time-consuming loan and grant applications, entrepreneurs use Mona to find and apply for the best-fit opportunities in one place. We have connected 100+ entrepreneurs to $1 million+ in affordable loans and grants so far.
+How it works: Small business owners complete a simple, streamlined “common app” through Mona, sharing basic information about their business and finances. Our machine learning technology instantly matches them with a personalized list of vetted, mission-driven loan and grant programs they’re most likely to qualify for with a percentage likelihood of success based on our underwriting data analytics. Mona’s platform draws from a growing database of public and private funders, prioritizing programs that are transparent, low-interest or interest-free, and supportive of early-stage businesses.
To reduce the burden further, Mona offers live expert support, multilingual guidance, AI-powered application writing tools, and the ability to submit applications directly on the entrepreneur’s behalf for integrated partners. By replacing confusion with clarity and helping entrepreneurs save hours of time, Mona empowers small business owners to focus on what matters most: building and scaling their businesses.
Who does your solution serve, and in what ways will the solution impact their lives?
+Who We Serve: Mona serves underbanked small business owners – including women, minority, rural, and refugee entrepreneurs – who face systemic barriers to accessing capital. These entrepreneurs often lack the awareness of funding opportunities, time, trust, and guidance needed to secure affordable loans or grants. Many don’t know where to turn for funding, are discouraged by past rejections, or face language and technology challenges making applications inaccessible.
+Impact: To date, Mona has connected 100+ small businesses – across 48 cities in the U.S., MENA, and Europe—to $1M+ in affordable loans. In the U.S., 95% of Mona entrepreneurs are first-time borrowers. 85% are immigrant/first-gen Americans from 26 countries; 94% are minority entrepreneurs; and 51% are women. Before Mona, 80% didn’t know they had funding options, and 50% said they might have closed without our support. After receiving funding, on average, entrepreneurs hired 1-2 new employees, and monthly revenue grew by 40%.
By scaling Mona’s platform in the U.S. and globally, we aim to connect millions of entrepreneurs to billions in funding. Our AI-powered matching and streamlined application process will reduce barriers and ensure more entrepreneurs can access capital. At scale, Mona-supported businesses will generate millions of new jobs and drive economic mobility and local economic growth.
