Community Investment Collaborative

COMMUNITY INVESTMENT COLLABORATIVE'S MISSION IS TO STRENGTHEN OUR COMMUNITY AND CONTRIBUTE TO ECONOMIC DEVELOPMENT BY FUELING THE SUCCESS OF UNDER- RESOURCED ENTREPRENEURS THROUGH EDUCATION, MENTORING, MICRO-LENDING AND NETWORKING.

CIC PROVIDES BUSINESS EDUCATION, MENTORING AND NETWORKING OPPORTUNITIES TO UNDER-RESOURCED ENTREPRENEURS. THE SIGNATURE EDUCATION PROGRAM IS A 16 WEEK ENTREPRENEUR WORKSHOP THAT COMBINES CASE STUDIES, DISCUSSION AND APPLIED LEARNING. A FINANCIAL MANAGEMENT PROGRAM HELPS ENTREPRENEURS DEVELOP THE BOOKKEEPING, RECORD KEEPING, AND FINANCIAL ANALYSIS SKILLS AND HABITS TO BETTER MANAGE THEIR BUSINESS. ADDITIONAL PROGRAMS INCLUDE MENTORING, BUSINESS OFFICE HOURS, SMALL BUSINESS CIRCLES AND OUR COLLABORATIVE CO-WORKING SPACE IN 2021, 189 CLIENTS PARTICIPATED IN CIC PROGRAMS. TO DATE: THERE ARE 467 GRADUATES OF OUR 16 WEEK WORKSHOP, 123 MENTOR MATCHES, AND 43 FINANCIAL MANAGEMENT PROGRAM PARTICIPANTS. TO DATE: THOSE CLIENTS HAVE STARTED 112 NEW BUSINESSES, SUSTAINED 211 EXISTING BUSINESSES AND CREATED 231 NEW FULL TIME EQUIVALENT JOBS.

CIC HAS TWO CORE FINANCING PROGRAMS INCLUDING A MICROLOAN PROGRAM THAT PROVIDES LOANS UP TO 50,000, A MICRO GRANTS PROGRAM THAT HELPS UNDER RESOURCED ENTREPRENEURS TEST THEIR PRODUCT OR SERVICES. IN 2021, 36 BUSINESSES RECEIVED 446,899 IN LOANS AND 4,330 IN MICROGRANTS. CIC'S LIFETIME TOTAL LENDING TO DATE INCLUDES 195 BORROWERS AND 2,032,191 IN LOANS. ADDITIONALLY, CIC PARTNERS WITH LOCAL GOVERNMENTS AND OTHER ENTITIES TO MANAGE GRANT PROGRAMS THAT SUPPORT BUSINESSES IN THE REGION. IN 2021, WE PARTNERED WITH 3 LOCAL GOVERNMENTS TO PROVIDE CAPITAL FOR BUSINESSES IMPACTED BY THE COVID-19 PANDEMIC. 116 BUSINESSES RECEIVED 1,044,242 IN GRANTS THROUGH THESE PARTNERSHIPS.

THE CVSBDC IS HOUSED AT CIC WITH SUPPORT FROM THE SMALL BUSINESS ADMINISTRATION, STATE AND LOCAL GOVERNMENTS. IT PROVIDES FREE ONE ON ONE BUSINESS ADVISING AND TRAINING WORKSHOPS. IN 2020, CVSBDC PROVIDED 828 CLIENTS WITH 5375 HOURS OF BUSINESS ADVISING. ADDITIONALLY, 1627 INDIVIDUALS PARTICIPATED IN 70 TRAINING EVENTS. CVSBDC CLIENTS CREATED 37 NEW BUSINESSES, ACCESSING 25,500,000 IN NEW CAPITAL FORMATION AND CREATED 276 NEW JOBS.

NETWORKING: BUILDING STRONG ENTREPRENEURIAL NETWORKS IS AN UNDERPINNING OF CIC CULTURE. CIC PARTNERS WITH LOCAL ORGANIZATIONS TO OFFERING NETWORKING EVENTS RANGING FROM MARKET ACCESS OPPORTUNITIES AT BLOCK PARTIES AND COMMUNITY FAIRS TO EDUCATION OPPORTUNITIES THROUGH BUSINESS EXPOS AND PITCH NIGHTS. PARTNERING ORGANIZATIONS INCLUDE: TOM TOM FOUNDERS FESTIVAL, WHOLE FOODS MARKET, CHARLOTTESVILLE BUSINESS INNOVATION COUNCIL, ILAB AT DARDEN, CENTRAL VIRGINIA SMALL BUSINESS DEVELOPMENT CENTER. MENTORING AND COACHING: MENTORS DRAWN FROM LOCAL BUSINESS AND BUSINESS COUNSELING COMMUNITIES MEET REGULARLY WITH CIC ENTREPRENEURS TO PROVIDE ONGOING GUIDANCE AND ADVISORY SUPPORT. THE FINANCIAL MANAGEMENT PROGRAM PROVIDES FINANCIAL COACHING IN BUSINESS BOOKKEEPING AND RECORD KEEPING. TO DATE: 121 MENTOR MATCHES; 30 FINANCIAL MANAGEMENT PROGRAM PARTICIPANTS. COVID-19 BUSINESS GRANTS: CIC PARTNERED WITH 11 MUNICIPALITIES TO PROVIDE ACCESS TO CAPITAL IN THE FORM OF BUSINESS GRANTS FUNDED BY THE FEDERAL CARES ACT. AS A RESULT, 599 BUSINESSES AND ADDITIONAL 106 NONPROFIT ENTITIES RECEIVED 11,192,341 IN GRANTS TO SUPPORT THEIR OPERATIONS IN A 6 MONTH PERIOD.