The Mortgage Credit Certificate (MCC) program is administered by CIC statewide and allows homebuyers to claim up to $2,000 of their annual mortgage interest as a federal tax credit – each year and every year they live in their homes.Continue reading
Cybersecurity Skills Training to Underserved Seeking Jobs in Booming Industry
CIC is excited to be a part of the Tucson Information Technology Alliance, a partnership between Tucson-based tech accelerator Go For Vertical, Transmosis Corporation, and CIC offering underserved adults in the Tucson area an opportunity to train for high-growth information technology careers. The scholarships are provided thanks to an Economic & Workforce Development Grant awarded to the Tucson Information Technology Skills Alliance by the City of Tucson.
The Alliance’s intensive information technology training program will be offered to residents of the Tucson area with a focus on the unemployed, underserved, minorities, veterans, and low-wage career changers.
Using a proprietary virtual training model created by Transmosis, a nationally-recognized cybersecurity workforce developer, the program enables applicants to become rapidly trained in employer-driven information technology skills that can lead to industry certifications and employment.
“The need for a highly trained, agile and robust technology workforce is evident in Tucson, where talent is often imported into the region rather than focusing on development of the local workforce. Meeting this demand for qualified local IT professionals can change that trend, and is crucial for attracting and keeping businesses with continued job and wage growth,” says Edward Cruz, CEO of Go For Vertical.
Tucson has witnessed a booming 90 percent growth in technology jobs and a 29 percent growth in tech job wages over the last several years. However, employers continue to struggle to fill the open positions with local qualified candidates, according to Tucson Business Insider.
Tucson Information Technology Skills Alliance Partners
Go For Vertical is a Tucson-based technology and venture accelerator with a mission to help the Southern Arizona region develop a robust innovation ecosystem. With a focus on startups, nonprofits and enterprise clients, G4V has grown from a small group based in Tucson to an expanded team of over 100 consultants and engineers based both in the US and overseas delivering global technology and business solutions.
Transmosis is a nationally recognized cybersecurity workforce developer that enables American workers to develop new careers in the rapidly growing information security industry. Transmosis is the creator of transmosisONE, a Fortune 5000 cybersecurity platform designed to protect small businesses/SMBs from cyber attack with integrated cyber liability coverage.
CIC is honored and humbled to be the first ever organization to win the DPR Construction Diversity, Equity and Inclusion Copper Cactus Award from the Tucson Metro Chamber.Continue reading
CIC couldn’t be more thrilled to announce the business owners selected to participate in the first ever BIPOC Community Managed Loan Fund! This fund was carefully designed to serve Black, Indigenous, People of Color (BIPOC) entrepreneurs in Southern Arizona with 0% interest microloans, ranging from $500 to $10,000.Continue reading
Over $600,000 in seed funding will be awarded through A for Arizona’s Expansion and Innovation Fund, including the Pima IDA’s gift, empowering innovative school and community leaders, teachers, and families to implement their bold ideas for reimagining learning models, creating and scaling more student-focused programs, and developing better teaching and learning educational approaches. Applications are being accepted for this grant funding June 3 – July 8 at noon.Continue reading
CIC was honored to sponsor the Adelante Award. An award that supports diverse founders, such as women-owned and BIPOC-owned companies.
Originally intended to be one $5,000 award, CIC was so impressed by two founders’ pitches that we just had to support both!
Learn more and support these powerhouse entrepreneurs:
Obánj is a monthly subscription service that lets you borrow designer and artisan jewelry from designers like Oscar de la Renta and Balenciaga. Depending on your Membership Plan, you can borrow one, two, or three pieces of jewelry per month.
Ku’Panda is a high quality experience with affordable prices. Herbs, Actives and Potent Botanicals hydrate, brighten and treat skin. Our products are kissed by Tucson with wildcrafted herbs sourced by local herbalists. Active ingredients are strategically used to guarantee you results backed by science.
“You run into people willing to help you along the way. CIC it has been fantastic, working with you guys. I recommend that when people have that itch to start something, to move forward.
Even though CIC turned me down initially for the first truck/trailer purchase, they were positive, helpful, and guided me so I could qualify six months later with proven financial history. You were such a blessing.” – Chuck Ugalde, Owner
The rate that entrepreneurs are starting new businesses in the US has been flat for almost 20 years. While there are many factors, lack of access to capital is a barrier that is difficult for many would-be business owners to overcome. This trend of stagnant new business growth is fueled by the reality that a significant portion of the population – women, people of color and rural entrepreneurs – face significant hurdles finding funding necessary to start and grow a new business.
This is problematic because entrepreneurs – not big businesses – are fueling all new net job creation (Kaufman, Start Us Up).
“Supporting and expanding entrepreneurship increases jobs, innovation, and productivity.” Wendy Guillies, president and CEO of the Kauffman Foundation. This is going to be crucial for the recovery we face in the wake of the pandemic.
At CIC, we’ve been building platforms to offer more options to entrepreneurs to access capital, in many cases creating the first rung on the capital access ladder for small business owners.
One such platform we’ve activated in partnership with Growth Partners Arizona and the City of Tucson is Kiva – a community backed lending platform for small business owners, offering 0%, zero fee micro loans from $1,000 – $15,000. Since the launch of Kiva Tucson, 23 local business owners have raised nearly $200,000 in funding to grow and develop their business during one of the toughest times for small business, many of which have been drastically impacted by COVID-19.
Another fascinating statistic that confirms the findings of the Kauffman Foundation, these 23 small businesses have added a total of 44 new jobs since July 2020.
“Without the loan I was able to raise through Kiva, I would never have been able to further develop my business helping to place nurses in healthcare facilities. I’ve been able to hire 15 healthcare workers who rely on my business to connect them where the need is greatest.” Philemon Prescoss, CEO, 3Twelves.
As a restaurant owner during this time, Gada Ghotmi, owner of Med Cuisine, has known the challenges first hand across many fronts. She and her husband were both hospitalized with COVID-19, but she was determined to build her business back, and with the help of a Kiva loan to provide the funding she needed to restock and hire help, she’s been able to hire 6 people since July 2020. “Kiva was the lifeline we needed. No bank was willing to loan money to a restaurant owner in the middle of the pandemic.”
CIC is committed to continued innovation for entrepreneurs to access the capital needed to build and grow business for the community to accelerate recovery, and ensure the US economy has the fuel it needs to grow sustainably.
Eviction Prevention Services related to the Coronavirus Response and Relief (CARES) Supplemental Appropriations Act of 2021 RFQ for Service Agencies.Continue reading
In late August of 2020, Community Investment Corporation (CIC) contracted with Pima County to develop and manage a dynamic online platform that would expedite the distribution of CARES Act funding to prevent evictions in the midst of the COVID-19 Pandemic. Within less than 14 weeks $2.8 Million in funds were distributed through 911 completed cases. The unique dual applicant approach, coupled with the use of adapted customer service and engagement software, made the program efficient and effective. We are honored to have stewarded this program and hope you will take the time to review our impact report in full. For questions please contact DannyK@CICTucson.org.
Tenants Served Heat Map
The above image shows the locations served by this program.