Black, Indigenous, and People of Color (BIPOC) entrepreneurs receive business financing less often and at higher interest rates than white entrepreneurs. In a world where traditional banking systems often overlook and underserve the BIPOC community, Community Investment Corporation (CIC) is revolutionizing access to capital in Southern AZ. It provides interest and collateral FREE micro-loans to BIPOC-owned small businesses. The BIPOC Community Managed Loan Fund also utilizes an innovative application and approval process where all loan decisions are made by a committee of BIPOC community members, none of whom come from the banking or finance industries. The application offers a story-centered approach and limits arduous financial requirements. Unlike traditional loan applications, it is only after being approved for a loan that entrepreneurs and business owners complete the required financial and business documentation. Regal Fierce Media is a local BIPOC-owned video production business that is growing and impacting the community as a result of the BIPOC Community Managed Loan Fund.
Learn more at bipocloanfund.com