Carolina Community Impact (CCI) is launching a new loan fund to provide capital to an estimated 100 underserved business owners in a 16-county region in and around the Triangle. Loans will range from $20,000 – $100,000 and are intended to help entrepreneurs jump start business operations.
In addition to funding business owners who lack access to traditional bank loans for a variety of reasons, Raleigh-based CCI will provide educational and support services critical to entrepreneurial success. CCI’s loan fund initiative includes resources from Kiva, a crowd-funded loan platform based in San Francisco, and the MetLife Foundation.
The 16-counties for this lending initiative are Alamance, Caswell, Chatham, Durham, Franklin, Granville, Lee, Harnett, Johnston, Nash, Orange, Person, Vance, Wake, Warren and Wilson.
“We expect many of the entrepreneurs that get their initial funding with CCI will go on to ‘graduate’ to use other lending sources that further expand their business operations down the road. That’s what success looks like,” said Joseph Battle, CCI’s Program Director of Business Services. “We encourage women, minority 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.”
About Carolina Community Impact
Carolina Community Impact, Inc. (CCI) is a nonprofit organization that provides access to credit building, asset building, and financial services partnered with education and lending products. Our mission is to help individuals build their financial future. Carolina Community Impact has been certified as a Community Development Financial Institution (CDFI) by the U.S. Department of the Treasury. Carolina Community Impact joins a small number of certified CDFI organizations nationwide with a focus on community and economic development. For more information, please visit https://www.carolinacommunityimpact.org/
Established in 2005 as the world’s first personal micro-lending website, Kiva enables everyday people to pool small lending contributions to provide financial access to entrepreneurs in communities across the globe. For more information, see https://www.kiva.org/
About MetLife Foundation
At MetLife Foundation, we are committed to expanding opportunities for low- and moderate-income people around the world. We partner with nonprofit organizations and social enterprises to create financial health solutions and build stronger communities, while engaging MetLife employee volunteers to help drive impact. Our financial health work has reached more than 17.3 million low- and moderate-income individuals in 42 countries. To learn more about MetLife Foundation, visit metlife.org.