Orange County, CA (November 18, 2025) – KTLA
For LaShonda Smith, a single mother and career consultant from Orange County, the
journey toward entrepreneurship began with a question that wouldn’t leave her alone:
Why do so many families miss out on the homebuyer assistance programs that already
exist to help them?
That question inspired PreQualy, an AI-powered platform designed to make affordable
homeownership more attainable by connecting qualified buyers to “hidden” funding opportunities.
The system acts as a digital advisor, matching users with down payment assistance,
grants, and local programs that can bring the dream of homeownership within reach.
Solving a Real Problem with Smart Technology
Smith has spent more than two decades working in local government and nonprofit consulting,
helping agencies manage complex funding systems. Along the way, she kept seeing the
same issue: hundreds of millions of dollars in housing assistance go unused each year
because families simply don’t know these programs exist – or how to qualify for them.
“I saw firsthand how confusing and disconnected the system was,” Smith said. “People
who worked hard, paid taxes, and dreamed of owning a home were missing opportunities
that could change their lives. I wanted to fix that.”
PreQualy’s technology uses artificial intelligence to simplify that process. By analyzing
a user’s profile, the platform can instantly identify and “stack” all funding options
available for that specific buyer – something no existing tool currently does.
“Think of it as a personalized financial navigator,” Smith explained. “It’s not just
about finding programs; it’s about helping people see a path to ownership they didn’t
think was possible.”
Turning Vision into Venture at the Leatherby Center
The Leatherby Center for Entrepreneurship and Business Ethics at Chapman University became a turning point in Smith’s journey. Although she is not a Chapman
student, she joined the center’s Women in Entrepreneurship program to refine her business
concept – and found a community ready to help her build it.
Through the Incubator and Accelerator programs, Smith worked closely with Entrepreneurs
in Residence (EIRs) who helped her strengthen PreQualy’s business model, refine her
pitch deck, and prepare to seek funding. She also took part in the Center’s Panther
Cage Match – a “Shark Tank”-style competition that gave her valuable exposure to investors
and judges.
“The mentors at the Leatherby Center asked the tough questions that made me better,”
Smith said. “They challenged me to clarify my purpose, and that process gave me the
confidence to move from idea to execution.”
“Information is power, and that is what PreQualy offers, information that helps lower
income families to be able to purchase a home, which is one of the best ways families
can build intergenerational wealth. We are excited to support LaShonda in her journey,”
said Dr. Cynthia West, Director of the Leatherby Center and Assistant Dean at Chapman’s
Argyros College of Business and Economics.
Fueling Growth Through Inclusive Innovation
Smith’s progress also highlights how the Leatherby Center’s role as Orange County’s
official CalOSBA Inclusive Innovation Hub is expanding access to entrepreneurship beyond the university. Funded through a $1
million grant from the California Office of the Small Business Advocate (CalOSBA),
the Center is one of only 13 hubs statewide – and the only one in Orange County –
dedicated to helping underrepresented founders and community entrepreneurs turn their
ideas into viable businesses.
“This grant allowed us to open our doors to the wider community of entrepreneurs.
We are excited to help community members empower themselves through running their
own businesses. LaShonda’s story is exactly why our programs are open to the wider
community,” said Dr. Cynthia West, Director of the Leatherby Center and Assistant
Dean at Chapman’s Argyros College of Business and Economics.
Smith is now a candidate for a CalOSBA Innovation Grant, which would help her build
PreQualy’s minimum viable product (MVP), finalize intellectual property protections,
and develop strategic partnerships with lenders and government agencies.
“I didn’t even know programs like CalOSBA existed until I came to the Leatherby Center,”
Smith said. “This network helped me find resources, mentors, and people who believe
in what I’m building.”
“This grant allowed us to open our doors to the wider community of entrepreneurs.
We are excited to help community members empower themselves through running their
own businesses. LaShonda’s story is exactly why our programs are open to the wider
community,” said Dr. Cynthia West, Director of the Leatherby Center and Assistant
Dean at Chapman’s Argyros College of Business and Economics.
Building the Future of Homeownership
As PreQualy moves toward launch, Smith is exploring collaborations with universities,
housing developers, and nonprofit partners who share her goal of making homeownership
possible for more Californians. Beyond the platform itself, she hopes to educate families
about financial literacy and build trust within communities historically excluded
from the home-buying process.
“This isn’t just a tech startup – it’s a movement to close the wealth gap,” Smith
said. “If PreQualy helps even one family buy their first home, that’s generational
change.”
In addition to supporting entrepreneurs like LaShonda, the Leatherby Center offers
no cost access to its Mentor Program, Incubator, and Accelerator initiatives – all
open to the public, not just Chapman students. Aspiring founders, small-business owners,
and innovators from throughout Southern California can take part at no cost. Participants
are paired with experienced mentors and industry professionals who provide personalized
guidance, feedback, and connections to help them grow their ideas or businesses.
To learn more or request a mentor match, visit https://www.chapman.edu/research/institutes-and-centers/leatherby-center/mentor-program.aspx.
About the Leatherby Center for Entrepreneurship and Business Ethics
The vision of the Leatherby Center for Entrepreneurship is to inspire, educate, and
empower the next generation of talent to have an entrepreneurial mindset. To teach
students how to innovate and take risks, whether they are starting their own venture,
or working inside a corporation. Through our curriculum and our incubator, we provide
hands-on experience to the next generation of talent, teaching them how to develop,
scale, and launch their own ventures as future global citizens in the world economy.
https://www.chapman.edu/research/institutes-and-centers/leatherby-center/index.aspx.
About Chapman University
Founded in 1861, Chapman University is a nationally ranked private university in Orange,
California, about 30 miles south of Los Angeles. Chapman serves nearly 10,000 undergraduate
and graduate students, with a 12:1 student-to-faculty ratio. Students can choose from
over 100 areas of study within 11 colleges for a personalized education. Chapman is
categorized by the Carnegie Classification as an R2 “high research activity” institution.
Students at Chapman learn directly from distinguished world-class faculty including
Nobel Prize winners, MacArthur fellows, published authors and Academy Award winners.
The campus has produced a Rhodes Scholar, been named a top producer of Fulbright Scholars,
and hosts a chapter of Phi Beta Kappa, the nation’s oldest and most prestigious honor
society. Chapman also includes the Harry and Diane Rinker Health Science Campus in
Irvine. The university features the No. 4 film school and No. 66 business school in
the U.S. Learn more about Chapman University: http://www.chapman.edu/.