(RALEIGH, NC) Carolina Community Impact (CCI), a North Carolina-based CDFI that provides access to credit and asset-building techniques for individuals and small businesses, has hired a Capital Access Manager to spearhead its loan fund aimed at disbursing $400,000 in small business capital to business owners in underserved communities.
Frank Del Villar will serve as CCI’s Capital Access Manager for the Central Carolina Kiva Hub & Matching Loan Fund. The Central Carolina Kiva Hub and Matching Loan Fund will give entrepreneurs in 16 counties access to Kiva’s peer-to-peer microlending platform and match the business owner’s platform-based fundraising dollar-for-dollar. Additionally, the Kiva hub will grant access to business counselors and online business classes.
“I am incredibly excited to join the wonderful team at Carolina Community Impact to launch the Raleigh Kiva Hub, which will serve all 16 counties in central North Carolina,” Del Villar states. He has an extensive background in real estate finance, retail & commercial banking, data analytics, and executive leadership, working with some of the largest Financial Institutions across the United States such as Wells Fargo, Blackstone, Credit Suisse, and Self-Help Credit Union.
“After learning first-hand how the largest institutions in the world deploy capital, I want to use all my accumulated knowledge, skills, and a strong network of NC partners to help distribute all forms of capital from the bottom up, helping the most underserved small businesses in our local communities with accessible 0%, no-fee, crowdfunded Kiva loans,” Del Villar adds.
MetLife Foundation, a primary contributor to the launch of the Central Carolina Kiva Hub & Matching Loan Fund, awarded CCCI $150,000 to deploy the program to underserved communities.
“This is a great opportunity to bring Kiva’s successful lending model to a new market in North Carolina,” Mike Croxson, CEO of Carolina Community Impact states. “Through our partnership with MetLife Foundation, we can make capital accessible to the most excluded clients, including those with no credit file, women, minorities, immigrants, refugees, veterans, formerly incarcerated, and startups. MetLife Foundation’s contribution further aids our mission to provide economic and community development to underserved communities.”
The Central Carolina Kiva Hub & Matching Loan Fund will be available to users in mid-October. For more information about this program, please visit www.ccifund.org/kiva-hub
About Carolina Community Impact: Our mission is to promote economic and community development by providing financial programs and services for low and moderate-income clients.
About MetLife: MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits, and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 markets and holds leading market positions in the United States, Japan, Latin America, Asia, Europe, and the Middle East. For more information, visit www.metlife.com.
About KIva: Established in 2005 as the world’s first personal micro-lending website, Kiva enables everyday people to pool small lending contributions to provide financial access to entrepreneurs in communities across the globe.
