Community Investment Collaborative

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 2024, 29 businesses received 1,050,855 in loans and 26 businesses received 35,996 in microgrants. Cic's lifetime total lending to date includes 5.075 million in loans. Additionally, cic partners with local governments and other entities to manage grant programs that provide access to capital to businesses in the region. In 2024, we partnered with entities to provide capital to businesses through grants including 12 businesses received 179,248 in grants through these partnerships. Cic provides loan servicing to loans not on our balance sheet. At the end of 2024, cic managed 48 loans totalling 1,4052,526 for other organizations. This includes 568,704 in loans for partners who participated on cic client loans. Cic also provides loan servicing to another mission driven lender, bridging virginia based out of richmond, va. Cic leverages its capacity as lender to support bridging virginia by managing its loan payments, helping bridging virginia manage 286,413 in new loans in 2024 and supports 483,795 in outstanding balances to to under-resourced entrepreneurs in the richmond area.

The cvsbdc is housed at cic with support from the small business administration, state and local governments along with private support. It provides free one on one business advising and training workshops. In 2024, cvsbdc provided 825 clients with 3264 hours of business advising. Additionally, 490 individuals participated in 35 training events. Cvsbdc clients created 22 new businesses, accessing 21.43 million in new capital formation and created 123 new jobs.

Networking and ecosystem building: 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, venture central, and the fountain fund. Cic secured funding in 2023 to develop the regional entrepreneurship investment strategy and will lead that work with a partner organization venture central.