The purpose of this grant is to provide funding to the Natural Capital Investment Fund (NCIF) as part of a 1:1 match for the organization’s 2018 Financial Assistance request to the CDFI Fund for loan capital. NCIF will deploy the funds in western NC’s underserved rural communities through loans to small businesses that hold the most promise for job creation, but often find access to capital a barrier to growth. In addition, NCIF will collaborate with Mountain BizWorks and the Carolina Small Business Development Fund to provide technical assistance for small businesses in both 1:1 and group settings. NCIF expects the project will generate 60 jobs, increase tax revenue in economically distressed communities, and also support the organization’s efforts to generate more than 68% of its core operating costs from interest and fees on loans.
