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InvestTVL Entrepreneur Microloans

THOMASVILLE COMMUNITY DEVELOPMENT

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Funding Amount

Up to $30,000 per entrepreneur

Deadline

Rolling / Open

Grant Type

foundation

Overview

InvestTVL Entrepreneur Microloans

Funder: InvestTVL (Community Development Loan Fund), a partnership of Spark Thomasville and Thomasville Community Development Corporation, with support from Thomasville National Bank, The First Bank, and TC Federal Bank

Geographic Scope: Thomasville, GA

Focus Areas: Business growth and expansion for underrepresented entrepreneurs

Eligibility:

  • Entrepreneurs who have attended previous Spark Thomasville cohorts or are currently attending the four-week cohort

  • Priority to minority and female entrepreneurs

  • Entrepreneurs seeking to become "bankable" through traditional financing

    • Award Amount: Up to $30,000 in low-interest financing per entrepreneur

    Initial Fund Size: $100,000 community development loan fund (launched May 2024)

    Key Details:

  • Low-interest financing structure

  • Includes technical assistance on business management skills

  • Addresses primary barrier to growth: access to capital

  • Albany Communities Together (ACT!) provides loan underwriting and CDFI assistance

  • InvestTVL working toward CDFI (Community Development Financial Institution) certification

  • Trainings provided on:

    • - Lendability (by O'Neal's Consulting and Training Services)
    - Financial statement preparation
    - Business projections
    - Loan application requirements
  • Developer's Loan product available for builders/developers building attainable homes in traditional neighborhoods

  • For every $100,000 raised, organization can build one house per year on revolving basis

  • Currently seeking impact investors interested in workforce housing

    • Contact Information:

  • Website: https://www.thomasvillecdc.org/resources

  • Spark Thomasville Executive Director: DeShay Williams

  • Project Manager: Katie Chastain (independent project manager for developer loan fund)

  • Thomasville Community Development Corporation

  • Email: info@thomasvillecdc.org

  • Phone: (229) 231-1199

  • Address: 401 S Broad Street, Thomasville, GA 31792

    • How to Apply

    Application Process

    1. Eligibility Check: Confirm participation in Spark Thomasville cohort (previous or current)
    2. Attend Training: Complete lendability training by O'Neal's Consulting and Training Services
    3. Prepare Documents: Develop required business documents:
    - Financial statements
    - Business projections
    - Loan application requirements
    4. Submit Application: Complete loan application through InvestTVL
    5. Underwriting: Albany Communities Together (ACT!) reviews application
    6. Technical Assistance: Receive business management guidance

      Resources Available:

    • Business Finance Essentials Workshop Series
    • Technical assistance on business structuring
    • CDFI pathway support
    • Access to partner banks for loan processing
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    Focus Areas & Funding Uses

    Fields of Work

    small-businessesstartupsminority-businesseswomen-owned-businesseseconomic-services

    Categories

    Browse similar grants by category

    Small Business GrantsGrants for StartupsGrants for Minority-Owned BusinessesGrants for Women-Owned BusinessesEconomic Services Grants

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