Community Investment Collaborative

Cic provides business education, mentoring and networking opportunities to under-resourced entrepreneurs. The signature education program is a 16 wee 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 2023, 208 clients participated in cic programs. To date: there are 563 graduates of our 16 week workshop, 145 mentor matches, and 71 financial management program participants. To date: those clients have started 173 new businesses, sustained 294 existing businesses and created 370 new full time equivalent jobs.

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 2023, cvsbdc provided 915 clients with 3151 hours of business advising. Additionally, 961 individuals participated in 57 training events. Cvsbdc clients created 24 new businesses, accessing 51.37 million in new capital formation and created 178 new 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 2023, 62 businesses received 1,506,223 in loans and 45,916.24 in microgrants. Cic's lifetime total lending to date includes 4.05 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 2023, we partnered with entities to provide capital to businesses through grants including 14 businesses received 172,135 in grants through these partnerships. Cic provides loan servicing to loans not on our balance sheet. At the end of 2023, cic managed 37 loans totalling 946,017 for other organizations. This includes 697,013 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 281,825 in new loans in 2023 and supports 249,003 in outstanding balances to to undero-resourced entrepreneurs in the richmond area.

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.