A CDFI loan brought a business dream to life
Last week we presented a CDFI loan check to Margaret White, founder of Athena Construction, a new woman-owned construction company in the heart of South LA.
Margaret is a seasoned construction veteran who spent over two decades building discipline, acquiring skills, and developing a purpose to create her own business. It didn’t take very long for Margaret to utilize her understanding of construction to conceptualize multiple projects from start to finish. Eventually, she took her learnings and expertise in construction to lead her own firm. Her catalyst for launching her business? “If not now, then when?”
Challenges of launching her business in a male dominated industry
Common to most entrepreneurs, the journey as an entrepreneur was arduous. Margaret lamented her difficulties in stating Athena Construction, including launching her business without any traditional support systems. Margaret was aware of other women-owned construction businesses that had a husband or partner acting as a field manager to support their operations. Margaret stepped into ownership independently without a built-in field manager and shouldered all the responsibility herself.
Margret considered herself a pioneer even though she sought comfort and support by joining a union. With this, she was able to navigate her relationships with more ease, all the while polishing her credibility and earning the trust of some of her male colleagues. Doing so required resiliency and determination. “There were moments when the pressure felt overwhelming,” Margaret shared, “and I worked to stay committed to my vision.”
Obstacle: how to access capital
Accessing capital proved to be one of the most significant barriers. Before connecting with Vermont Slauson Economic Development Corporation, Margaret approached traditional banks for funding. However, because her business was still small and newly established, she was unable to secure the support she needed. This is a common challenge for women-owned startups, particularly in industries like construction that require substantial upfront investment.
Receiving financing from VSEDC’s CDFI was a pivotal moment and perfect timing. Margaret had already invested significant personal resources into launching the company and needed capital to move forward.
“I recall sitting at my desk when the call came through that my loan had been approved,” she says. “At nearly the same time, I received my women-owned business certification.”
The money made the official launch of her business possible. “It gave me working capital to pay for insurance, payroll, purchase power tools for employees, and acquire a work vehicle,” she explains – all of which set her up to break ground on new contracts.
“The foundation for my business is now set, and I’m able to move into the next phase,” says Margaret.
Leadership style focused on community
Margaret emphasizes compassion and flexibility, especially for working mothers. “Throughout my own career, I felt forced to choose between being present for my family and meeting workplace expectations.” She continues, “As a business owner, I am committed to building a company culture that recognizes the realities of motherhood and allows women to prioritize their families without sacrificing their careers.” Margaret hopes her leadership sets an example in the construction industry that family and professionalism can coexist.
When asked what advice she would offer to another woman who feels unsure about pursuing her dream, her response was direct. “I would encourage women to write down their goals, outline the steps required to achieve them, and develop the discipline to follow through. I also think it’s important to seek out supportive partners, like I’ve found with Vermont Slauson.”
Looking ahead, Maraget hopes Athena Construction’s legacy will reflect more than business success. Through her company, she wants to be known as a community-focused business owner who helped others grow their careers and strengthened the presence of women in construction. She is deeply grateful for the support she received and is committed to paving the way for other women entrepreneurs to see that ownership in this industry is possible.
Margaret’s story is a reminder that when women have access to the support every business needs to launch – affordable capital and community support – they can build successful businesses, and stronger industries.
Athena Construction’s CDFI loan was made possible by an EQ2 loan from US Bank for VSEDC’s CDFI
