Not all startups ideas are best implemented as a for-profit. There is a reason all the Community Development Financing Institutions (CDFIs) are nonprofits, and after a few years operating as a for-profit, that too was the right answer for Community Source Capital.
Community Sourced Capital is building a collaborative network to help small businesses and local economies thrive
By connecting community members, small business owners and mission-aligned funders to the goal of creating healthy communities, we’re introducing a new purpose for financial systems, removing barriers to success for entrepreneurs, and building meaningful relationships around money.
Providing affordable capital to community businesses is vital to our economy
Small businesses are the key generators of jobs in our economy and character in our communities. Everyone seems to know that. What most people don’t know is how important funding is to the success of a business.
Even in this day and age, most small businesses simply cannot access the funding they need to succeed. New lenders have emerged to serve this need, but many of them charge equivalent interest rates upwards of 20 or 50 percent. These rates can compromise the stability of the businesses that ultimately provide stability to our communities.
Community Sourced Capital exists so that businesses can access affordable capital from their community. If a business isn’t ready to access a community loan, the team at CSC connects them to a network of partners who can.