Mountain BizWorks secures $300,000 federal grant

U.S. Department of Treasury CDFI Fund Awards $300,000 to Mountain BizWorks

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.”

Individuals who are interested in learning more about investing in Mountain BizWorks can visit www.mountainbizworks.org or call Shaw Canale or Nathan Harlan at (828) 253-2834, ext. 12 or 14.

About Mountain BizWorks

Through lending, consulting and training, Mountain BizWorks helps smaller businesses grow, and larger businesses thrive. Mountain BizWorks is committed to helping Western North Carolina businesses create permanent jobs that enable families to build assets and achieve a permanent foothold in the middle class.

SHARE
About Jake Frankel
Jake Frankel is an award-winning journalist who enjoys covering a wide range of topics, from politics and government to business, education and entertainment.

Before you comment

The comments section is here to provide a platform for civil dialogue on the issues we face together as a local community. Xpress is committed to offering this platform for all voices, but when the tone of the discussion gets nasty or strays off topic, we believe many people choose not to participate. Xpress editors are determined to moderate comments to ensure a constructive interchange is maintained. All comments judged not to be in keeping with the spirit of civil discourse will be removed and repeat violators will be banned. See here for our terms of service. Thank you for being part of this effort to promote respectful discussion.

Leave a Reply

To leave a reply you may Login with your Mountain Xpress account, connect socially or enter your name and e-mail. Your e-mail address will not be published. All fields are required.