Local CDFI announces partnership with a woman-owned small business during Women’s History Month.
March 16, 2023, Raleigh, NC– Local community development financial institution Carolina Community Impact (CCI) has partnered with woman-owned, North Carolina-based loan guaranty company, Davos, to facilitate quicker, more favorable, and transparent loans for small business owners throughout the state. CCI and Davos finalized their partnership during Women’s History Month to commemorate the efforts of women to start and grow their small businesses. The partnership aims to serve small business owners that face challenges securing loans from traditional lenders, including major banks, due to higher approval thresholds for collateral, credit scores, and other factors.
Amber Bond, the CEO of Davos, started her business after 12 years of working in the small business lending industry, including banks and CDFIs. Her exposure to denied loan applications due to borrower risks and lenders needing more streamlined and transparent decision processes prompted her to start Davos. Bond has received numerous awards and recognition for her company’s innovative business model. CCI is the first official partner with Davos.
“Davos is so excited to have lending partners like CCI that are truly committed to supporting underserved entrepreneurs and finding new avenues to fund viable businesses,” Bond says. “ I believe this is the first of many scenarios where we can collaborate as community change agents to provide catalytic capital and resources to the communities we serve.”
CCI specializes in providing loans to small business owners across in North Carolina. Capital and business coaching is available to all small business owners, but CCI proactively targets underserved communities who may have previously had challenges in accessing capital. Over the last several years, CCI has been able to extend over $1.5M in loan capital across the state. However, their accomplishments weren’t without typical lending challenges, and the newly established partnership with Davos aims to alleviate those challenges.
“Working with a risk mitigation and loan guaranty partner, specifically Davos, helps CCI to further its mission of providing access to capital to the audiences who need it most,” says Joseph Battle, CCI’s General Manager. “We’re excited about the opportunity to make quicker and more favorable loan decisions for our borrowers and be good stewards of our available resources by mitigating some of the risk involved in lending to underserved communities.
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About Carolina Community Impact (CCI): Carolina Community Impact, Inc. (CCI) is a nonprofit organization providing credit and asset-building access for individuals and small businesses. Our mission is to promote economic and community development by providing financial programs and services for low and moderate-income clients.
About Davos: Davos is a private commercial loan guaranty company that works with CFDFIs, community banks, and other mission-focused lenders to enhance the borrowing process for the funder and loan recipient. They provide loan processing support and quick-decision loan guarantees to give business owners more control and transparency during borrowing.
