Community Investment Collaborative: Difference between revisions

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The '''Community Investment Collaborative''', formerly the '''Community Investment Corporation''', ('''CIC''') is a locally focused microfinancing group based in Charlottesville that was founded in 2011. <ref>{{cite web|title=Community Investment Collaborative|url=http://thecne.org/organization/profile/view/409|author=|work=Non-profit profiles|publisher=Center for Non Profit Excellence|location=|publishdate=|accessdate=May 1, 2012}}</ref>  It aims to ameliorate the difficulty many small businesses have in obtaining funding from traditional banks.
The '''Community Investment Collaborative''', formerly the '''Community Investment Corporation''', ('''CIC''') is a locally focused microfinancing group based in Charlottesville that was founded in 2011. <ref>{{cite web|title=Community Investment Collaborative|url=http://thecne.org/organization/profile/view/409|author=|work=Non-profit profiles|publisher=Center for Non Profit Excellence|location=|publishdate=|accessdate=May 1, 2012}}</ref>  It aims to ameliorate the difficulty many small businesses have in obtaining funding from traditional banks.


The CIC is in its early stages, but has secured funding for its first year and hired its first staff member, Hebah Fisher, who is a recent UVA graduate in microfinance.  The group aims to be a "nexus for everything small business," from providing microloans, to providing education for small businesses, to pairing new owners with established mentors<ref name="Thinking">{{cite-cville|title=Thinking outside the banks: CIC tries to grow Charlottesville's small businesses|url=http://www.c-ville.com/Article/Development/CIC_tries_to_grow_Charlottesvilles_small_businesses/?z_Issue_ID=11802410113461581|author=Brendan Fitzgerald|pageno=10|printno=23.43|printdate=25 Oct, 2011|publishdate=25 Oct, 2011|accessdate=28 Oct, 2011}}</ref>.
In 2011, CIC secured funding for its first year and hired its first staff member, Hebah Fisher, who is a recent UVA graduate in microfinance.  In it's early stages, the group aimed to be a "nexus for everything small business," from providing microloans, to providing education for small businesses, to pairing new owners with established mentors<ref name="Thinking">{{cite-cville|title=Thinking outside the banks: CIC tries to grow Charlottesville's small businesses|url=http://www.c-ville.com/Article/Development/CIC_tries_to_grow_Charlottesvilles_small_businesses/?z_Issue_ID=11802410113461581|author=Brendan Fitzgerald|pageno=10|printno=23.43|printdate=25 Oct, 2011|publishdate=25 Oct, 2011|accessdate=28 Oct, 2011}}</ref>.


The group plans to provide loans of up to $35,000 to small businesses. These loans require a business owner to begin a 12 week-long training program and be matched with a mentor. They also will need to give monthly statements on their finances during the loan's duration<ref name="Thinking" />.
The CIC takes entrepreneurs with an existing businesses or idea through 4 months of training in the technical aspects of running a small business. The participants also are matched with experiences business owners as mentors through the process. After the 16-week program, the graduates of the CIC can apply for microloans up to $35,000 to go towards growing their small business.<ref>{{cite web|title=Community Investment Collaborative|url=http://cicville.org/loans/|author=|work=|publisher=|location=|publishdate=|accessdate=3 September 2013}}</ref>


Organizers of the CIC plan to begin the project with nonprofit status and eventually add a for-profit branch. It hopes to be financially self-sustaining within three years. It plans to gain revenue from membership dues, client fees, and educational seminars<ref name="Thinking" />.
Organizers of the CIC plan to begin the project with nonprofit status and eventually add a for-profit branch. It hopes to be financially self-sustaining within three years. It plans to gain revenue from membership dues, client fees, and educational seminars<ref name="Thinking" />.
The third CIC class began on September 3, 2013, with 27 entrepreneurs participating from Louisa, Albemarle, Fluvanna, Charlottesville, and Staunton.<ref>{{cite email|subject=CIC Announces Fall Class|from=Stephen Davis|sourceorg=Community Investment Collaborative|to=|repository=|senddate=3 September 2013}}</ref>


===Board Members===
===Board Members===

Revision as of 14:19, 3 September 2013

The Community Investment Collaborative, formerly the Community Investment Corporation, (CIC) is a locally focused microfinancing group based in Charlottesville that was founded in 2011. [1] It aims to ameliorate the difficulty many small businesses have in obtaining funding from traditional banks.

In 2011, CIC secured funding for its first year and hired its first staff member, Hebah Fisher, who is a recent UVA graduate in microfinance. In it's early stages, the group aimed to be a "nexus for everything small business," from providing microloans, to providing education for small businesses, to pairing new owners with established mentors[2].

The CIC takes entrepreneurs with an existing businesses or idea through 4 months of training in the technical aspects of running a small business. The participants also are matched with experiences business owners as mentors through the process. After the 16-week program, the graduates of the CIC can apply for microloans up to $35,000 to go towards growing their small business.[3]

Organizers of the CIC plan to begin the project with nonprofit status and eventually add a for-profit branch. It hopes to be financially self-sustaining within three years. It plans to gain revenue from membership dues, client fees, and educational seminars[2].

The third CIC class began on September 3, 2013, with 27 entrepreneurs participating from Louisa, Albemarle, Fluvanna, Charlottesville, and Staunton.[4]

Board Members

References

  1. Web. Community Investment Collaborative, Non-profit profiles, Center for Non Profit Excellence, retrieved May 1, 2012.
  2. 2.0 2.1 Web. Thinking outside the banks: CIC tries to grow Charlottesville's small businesses, Brendan Fitzgerald, C-VILLE Weekly, Portico Publications, 25 Oct, 2011, retrieved 28 Oct, 2011. Print. 25 Oct, 2011 , 23.43,  page 10.
  3. Web. Community Investment Collaborative, retrieved 3 September 2013.
  4. E-mail. Stephen Davis, Community Investment Collaborative. "CIC Announces Fall Class." Message to . 3 September 2013.

External Links

Official Site/Facebook page