October 23 – HENDERSON – A new loan fund has been launched to provide capital to underserved businesses in central and eastern North Carolina.
The loan initiative will serve businesses in 16 counties, including Vance, Granville and Warren.
Carolina Community Impact, a Raleigh-based nonprofit, will provide capital to approximately 100 underserved business owners in the region. The loans, which range in size from $ 20,000 to $ 100,000, are designed to help entrepreneurs start their businesses.
In addition to lending funds to local businesses, CCI will provide education and support services essential to entrepreneurial success.
CCI’s loan fund initiative includes resources from Kiva, a San Francisco-based lending platform, and the MetLife Foundation.
The program will operate from CCI’s office in Raleigh, said Lucy Dunham, communications manager for RLF Communications.
She delivered a press release in which Joseph Battle, Director of CCI’s Business Services Program, said: “We expect that many entrepreneurs who get their initial funding with CCI will graduate to use others. loan sources that will further develop their business. road operations. This is what success looks like.
To underscore the initiative’s goal, he said, “we encourage women, minorities and other small business owners, as well as organizations that work with entrepreneurs, to connect with Carolina Community Impact to learn more about this platform and partnership opportunities. “
Carolina Community Impact, Inc. is a non-profit organization that provides financial services to help individuals achieve financial success. It partners with Kiva and the MetLife Foundation to provide access to financial resources in underserved communities.
Kiva promotes a strategy of using resources pooled in a community to provide financial support to community entrepreneurs.
The MetLife Foundation partners with nonprofits and social enterprises with a focus on low and moderate income people to build stronger communities.