Mountain BizWorks has been awarded $300,000 from the U.S. Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund.
This grant is intended to help Mountain BizWorks secure investments of private loan capital from individuals and institutions in Western North Carolina. Mountain BizWorks uses investments of loan capital to make loans to emerging and existing small businesses.
According to CEO Shaw Canale, “This grant will provide necessary leverage to allow us to raise additional loan capital from local and regional supporters – those people and institutions interested in supporting our local communities while earning a financial and social return on their investment.”
The U.S. Department of the Treasury’s CDFI Fund Director Donna Gambrell announced the CDFI Fund awards on Monday. The 2012 awards, which total over $186 million, represent the largest single announcement of award dollars and award recipients in the CDFI Fund’s history. Mountain BizWorks is one of 210 recipients from across the country, and one of five in North Carolina.
The awards underscore the U.S. Department of the Treasury’s commitment to revitalizing economic and community development across the country.
According to Senator Richard Burr (NC), “This award is critical to the growth of our Western North Carolina communities and to building a strong, robust economy.”