January 7, 2021 / Kevin Dick and Emily Stallings / CDFI, Community Development, Economic Development, Economy, Jobs & Employment, Small Business
When we started 2020, no one could have predicted how the year would end. In this post, President/CEO Kevin Dick and Development Director Emily Stallings take a look back at CSBDF’s activities during the year. Between April and December, CSBDF is proud to have helped 1,000+ small businesses survive and thrive through COVID-19. That has only been possible because of the support of numerous organizations and individuals. If you or your organization is interested in helping small businesses succeed through the pandemic, please consider a one-time contribution, an annual gift, or volunteering your time.
Fighting for Main Street’s Survival
Main Street businesses are the engine of local economies. But they don’t just provide economic benefits, they also give our communities a sense of place and identity. When small businesses close there is a ripple effect throughout the economy. The fight for North Carolina’s small businesses continues as the nation enters into the 11th month of the pandemic. CSBDF started 2020 by celebrating its 30th anniversary. As we begin 2021 we wanted to pause and thank all of those who have helped us fight against the collapse of Main Street.
We’re Winning the Battle, But More is Needed
Our approach has been simple – ensure that (1) small businesses know what assistance is available, (2) can access it via CSBDF or its partners, and (3) will not be discouraged by a challenging or restrictive application process. The cornerstone of our 2020 strategy was an array of grant and loan programs in conjunction with our government partners. Through grant aid, we’ve been able to help entrepreneurs meet their short-term cashflow needs. And with affordable loans ranging from $5,000 to $250,000, we’ve injected millions in capital that can be repaid on flexible terms over the long-term.
We know that grant aid and financing is critical. But entrepreneurs also need to know how to navigate the unchartered and ever-changing waters of the pandemic. Through offering dozens of online recorded courses and multiple live seminars since April, hundreds of small business owners have developed the their skills in disaster recovery and resilency. Our online courses, interactive virtual seminars, and conference programs have been supplemented with customized needs assessments and one-on-one counseling across a variety of topics.
Finally, we don’t just believe small businesses are essential for economic recovery. We prove it with objective and data-driven research which contributes to state and national level policy dialogues. In the past year our research team has helped spotlight the needs of entrepreneurs and has been featured by both national and local media outlets. Our work around COVID-19 is designed to provide relevant, rigorous, and politically neutral thought leadership for development practitioners and policymakers.
We’re Thankful for the Community’s Ongoing Support
Now more than ever before, being a bulwark for entrepreneurs is a team sport. CSBDF has been honored and humbled by the level of grassroots community support that we have received throughout the pandemic. That support – both financial and non-financial – has come in all forms from a variety of businesses, governments, non-profit organizations, and individuals. The task of supporting entrepreneurs through this time is not easy, and we’ve only been able to do it with your help.
As we look forward to 2021 and (hopefully) the end of the pandemic, it is important to remember the fight is not over. The needs of small businesses will transition from short-term emergency assistance to longer-term support, requiring new and innovative approaches to help Main Street thrive. We’re up to the task because we know the community is fighting right along with us. On behalf of all of us at CSBDF, thank you:
Organizational Financial Supporters
Public Sector
City and County Governments
· City of Asheville
· City of Charlotte
· City of Durham
· City of Raleigh
· Buncombe County
· Mecklenburg County
North Carolina State Government
· Historically Underutilized Business Office
· Pandemic Recovery Office
Federal Government Agencies
· Appalachian Regional Commission
· US Department of Agriculture
· US Small Business Administration
Volunteers and Partnerships
Research Partnerships
Showing Thought Leadership
· CNote
· Opportunity Finance Network
· ncIMPACT
· Piedmont Community College
· UNC Chapel Hill School of Government
Not-For-Profit Sector
Educational Institutions
· Duke University
· Elizabeth City State University
Philanthropic Foundations
· Dogwood Health Trust
· Duke Energy Foundation
· Golden LEAF
· NC IDEA
· San Francisco Foundation
· Uplift America
· Z. Smith Reynolds Foundation
Community Development Organizations
· Latino Community Asset Builders (NALCAB)
· Local Initiatives Support Corporation (LISC)
· ResilNC
Joint Initiatives
Technical Assistance
· Fayetteville State University
· Johnson C. Smith University
· NC Small Business Center Network
· Shaw University
· Veterans LLC Collaborative
· UNC Pembroke
Private Sector
Banking, Finance, Insurance
· Bank of America
· Blue Cross and Blue Shield of NC
· Coastal Federal Credit Union
· Credit Suisse (Matching Employee Donations)
· Delta Dental
· Fidelity Investments
· Fifth Third Bank
· First Bank
· First Horizon
· First National Bank
· Goldman Sachs
· JPMorgan Chase & Co
· North State Bank
· Pinnacle Financial Partners
· PNC Bank
· Regions
· Southern Bank
· TD Bank
· Towne Bank
· Truist
· Wells Fargo
Construction, Real Estate Development
· Clancy & Theys Construction
· Fred Smith Company
· Highwoods Properties
· Kane Realty
· Martin Marietta
· McAdams
· Preferred Office Properties
Media and Telecommunications
· AT&T
· Capitol Broadcasting
· Citrix
· Engineered Tower
· Red Hat (Matching Employee Contributions)
Professional and Scientific Services
· Biogen
· NoviSci (Matching Employee Donations)
· Heritage Properties
· Womble Bond Dickinson
Retail Trade and Consumer Services
· Carolina Hurricanes
· Clorox Company
· Dominion Energy
· Leith Toyota
Volunteers
Lending and Grant Programs
· Tiffany Farina
· Stephanie Lowe
· Nicholas Long
· Katie Thornsvard
Development and Giving
· Convergent Nonprofit Solutions
· David Burriss
· Innovate Raleigh
· Urmi Bhatt
Research and Policy Analysis
· Adonis Caramintzos
· Catherine Dallas
· Evelyn Chen
· Jason Sabatelle
· Erin Stephenson
Khaliid Scott