Community Investment Collaborative (CIC) launched in 2012 to help cultivate a local business network that connects aspiring entrepreneurs with existing entrepreneurs, City officials with nonprofit service providers, and State agents with local business people, bringing together the impressive experience and expertise found in our community. CIC offers staged microloans up to $35,000 for graduates of their training workshop. These loans have flexible arrangements and CIC will work with the client despite weak credit or collateral. CIC offers two loan products:
CIC Loans: CIC loans directly to entrepreneurs. Arrangements are flexible. Entrepreneurs may borrow up to $5,000 in the first stage, up to $10,000 in the second stage, and up to $30,000 in the third stage.
Kiva Zip Loans: CIC is a trustee of Kiva Zip and endorses entrepreneurs to crowd-fund their loans on their website. Loans are two year terms and interest free. Entrepreneurs may borrow up to $5,000 in the first stage and up to $10,000 in the second stage.
Both of these opportunities require entrepreneurs to be graduates of their 17 week training workshop to be eligible to apply.