Supporting Small Businesses & Real Estate Developers

For small businesses facing financial hardships and other business challenges, having access to trusted experts to help grow their businesses and realize locally led solutions is critical to getting back to growth.

To support that effort, Capital Impact Partners and CDC Small Business Finance have launched a $1.5 million initiative in partnership with Wells Fargo focused on providing targeted business training services to small businesses and real estate developers. The grant will help accelerate re-development efforts in Washington, D.C. and the Mississippi Delta through a focus on housing, amenities, and jobs.

City First Enterprises, Hope Enterprises, and the Washington Area Community Investment Fund (Wacif) will also participate in this initiative, serving a variety of sectors including:

social services
professional services
food retail and distribution
real estate developers, with a focus on graduates of Capital Impact Partners’ EDI program

Program Implementation

Through the Momentus Capital branded family of organizations, Capital Impact will manage the overall program while CDC Small Business Finance will deliver technical assistance (TA) and create specialized curriculum for Washington, D.C. metropolitan area participants and alumni of Capital Impact Partners’ EDI program. The other partners will provide the following services:

City First Enterprise will launch a formal small business TA program including hiring two business advisors. Training will include modules such as credit repair that will help small businesses recover from the impacts of the economic crisis.
Hope Community Enterprises will scale and improve efficiencies to their SBA lending with a focus on using the Community Advantage Program to serve entrepreneurs of color in the rural Deep South.
Wacif will provide legacy businesses interested in employee ownership with technical assistance including individualized growth plans, technology, marketing, and financing.

Our Partner

This initiative is made possible through Wells Fargo’s Open for Business Fund, a roughly $420 million small business recovery effort across the U.S to help small business owners.

We’re here to answer your questions.

Alison Powers

Director of Economic Opportunities

apowers@capitalimpact.org

The Open for Business Fund enlists the care and expertise of organizations like Capital Impact Partners to urgently assist the small business community and to help navigate entrepreneurs back to growth.
Anna Bard, Senior Vice President,
Social Impact and Sustainability
Wells Fargo