PeopleFund announces new Chief Financial Officer. Michelle Powell to continue building on strong momentum. Austin, Texas, July 7, 2026 - PeopleFund today announced that Michelle Powell has assumed the role of Chief Financial Officer, succeeding Anthony Hedger. An established member of PeopleFund's leadership team, Powell worked closely with Hedger as financial Controller, strengthening the organization's finance function and helping build the financial infrastructure that supports PeopleFund's continued growth. With more than 25 years of financial leadership experience across nonprofit organizations, healthcare, and government, she brings deep expertise and leadership continuity to the role. "Michelle has played a critical role in our finance organization over the past two years and has earned the confidence of our Board, auditors, investors, and leadership team," said Gustavo Lasala, President and CEO of PeopleFund. "Four years ago, our finance department consisted of CEO/CFO, one Controller and one staff accountant. Today, we have a six-member team that is, without question, the strongest in our organization's history. Michelle helped build that team, making her the natural choice to lead our finance function into its next chapter." As Chief Financial Officer, Powell will lead PeopleFund's finance function while working closely with leaders across the organization, the Board of Directors, investors, and funding partners. "I am honored to serve as PeopleFund's Chief Financial Officer," said Michelle Powell. "Our finance team has built a strong foundation rooted in accountability, disciplined financial management, and sound internal controls. I look forward to building on that foundation while supporting our staff, borrowers, investors, and funding partners as we continue expanding economic opportunity throughout Texas." Powell assumes the CFO role as PeopleFund builds on a period of exceptional growth and financial strength. In 2025, the organization surpassed $100 million in total assets for the first time, deployed $23.6 million in loans, helped create or retain more than 1,200 jobs, and closed the year in the strongest financial position in its history. Building on that momentum, PeopleFund continues to advance key strategic initiatives. The Small Business Accelerator has graduated more than 430 entrepreneurs with over $20 million in capital and $1.7 million in grants while supporting more than 1,600 jobs. As the Texas member of the Veteran Loan Fund, PeopleFund is helping expand an initiative that has deployed more than $115 million to Veteran- and military spouse-owned businesses nationwide. PeopleFund is also expanding access to responsible capital in rural and historically underserved communities across Texas through strategic partnerships that leverage local resources and expertise to create economic opportunity throughout the state. PeopleFund Founded in 1994, PeopleFund is a nonprofit Community Development Financial Institution (CDFI) certified by the U.S. Department of the Treasury and an SBA lender. PeopleFund creates economic opportunity and financial stability by providing responsible financing, education, and resources to entrepreneurs who face barriers to accessing traditional capital. Since its founding, the organization has supported more than 6,000 small businesses, helped create or retain nearly 26,000 jobs, and generated more than $1.4 billion in direct economic impact across Texas. In 2025, PeopleFund closed the year with more than $108 million in total assets, reflecting the strongest financial position in its history. Learn more at www.peoplefund.org Media Contact Jenny Palecek, SVP, Philanthropic Partnerships, PeopleFund

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