We are pleased to announce that the Community Foundation for Southern Arizona’s (CFSA) 2025-2027 African American Legacy Fund (AALF) Grants have awarded $50,000 to 5 exceptional nonprofits in the region. They are Blue Lotus Artist’s Collective, Community Investment Corporation (BIPOC Loan Fund), Dynamic Breast Cancer Care, Sierra Vista Dream Center, and The Multivrs Is Illuminated.
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“The Industrial Development Authority of the City of Sierra Vista is committed to supporting entrepreneurs and closing the financial gap that has historically limited access to opportunity for people of color. Our community, deeply rooted in a rich tapestry of cultures, is a testament to the strength of diversity. From the courageous Buffalo Soldiers who defended our nation, to the proud Hispanic heritage that continues to shape our identity, to the resilient Apache nations and the Asian cultures that helped build our railroads and mines, Sierra Vista and Cochise County have always been built on the sweat and determination of individuals who embody the entrepreneurial spirit.
This is a place where hard work, perseverance, and innovation are cherished and celebrated. We are proud to support the BIPOC Loan Fund, and we are excited to help expand its reach, ensuring that more entrepreneurs in our community have the access and resources they need to thrive. Together, we are honoring the legacy of those who came before us and continuing to build a future of opportunity for all.”
– The Industrial Development Authority of the City of Sierra Vista Board of Directors
Introducing CLEAR (Community Land, Estate, and Asset Resolution), Community Investment Corporation’s new Southern Arizona Heirs Property Program. This program is designed to help Southern Arizonans protect and keep homes, land, and other assets in their families through the inheritance process.
Community Investment Corporation (CIC), in partnership with Vantage West Credit Union, has been awarded a $200,000 AHEAD Program grant from the Federal Home Loan Bank of San Francisco (FHLBank San Francisco).
The funding will help CIC expand Arizona’s first coordinated heirs’ property initiative, providing estate planning education, legal navigation, title resolution assistance, and cross-sector support to help families preserve homeownership and protect generational wealth.
The Community Investment Corporation is a Tucson-based nonprofit that provides loans and financial coaching for small businesses. Earlier this year, it was one of several local organizations awarded $700,000 to support small childcare businesses that are less likely to get loans from banks.
The award is part of a greater $3 million effort from the state to expand affordable childcare access.
In this episode of the Let’s Talk Small Biz Finance Podcast, Danny Knee chats with Heath Vescovi-Chiordi about how regional economic strategies foster community growth, support small businesses, and adapt to global shifts. They explore the tools, policies, and innovative projects driving economic resilience and community benefit in Tucson and beyond.
CIC is proud to have received a grant from the Nasdaq Foundation to support the ongoing expansion of the Arizona Capital Access Program (AZ CAP). AZ CAP seeks to address disparities in equity capital access through a two-pronged approach – by bridging the social capital gap that many entrepreneurs from under resourced backgrounds face and by expanding decision making power beyond current and traditional equity investment institutions.
Community Investment Corporation (CIC) is proud to be one the community lending organizations selected for the Bright Futures AZ Child Care Microbusiness Investment Grants. The goal of the program is to create more child care slots for Arizona Families by facilitating access to capital and wraparound support for child care providers to help grow their businesses.
CIC’s Executive Director, Danny Knee, had the opportunity to speak with Nasdaq’s Purpose Communications Specialist, Brittany Greene, about CIC’s work to reshape Arizona’s capital ecosystem through inclusion, innovation, and community trust.
What does it take to fund a dream? In this episode, CIC Executive Director Danny Knee sits down with Kiva’s Entrepreneurial Ecosystem Associate Reteisha Byrd for a fast-paced conversation breaking down how Kiva works, for both borrowers and lenders.
CIC’s Executive Director Danny Knee caught up with Alicia Robb – economist, angel investor, and Founder & CEO of Next Wave Impact – ahead of TENWEST to talk about what it really takes to unlock capital for entrepreneurs. Alicia is a globally recognized expert on entrepreneurial finance and will be one of the Keynote speakers at TENWEST.
Providing between $500 – $25,000 in funding with a 3% interest rate, the Green Loan Fund can be a game-changer for local businesses, according to Local First Outreach and Resource Manager Moises Gomez, as they pay back the loan using savings generated from upgrading wasteful energy and water systems.
We are pleased to announce that the Community Foundation for Southern Arizona’s (CFSA) 2025-2027 African American Legacy Fund (AALF) Grants have awarded $50,000 to 5 exceptional nonprofits in the region. They are Blue Lotus Artist’s Collective, Community Investment Corporation (BIPOC Loan Fund), Dynamic Breast Cancer Care, Sierra Vista Dream Center, and The Multivrs Is Illuminated.
Donate to the BIPOC Loan Fund Here BIPOC Loan Fund receives $10,000 Donation from the Industrial Development Authority of the City of Sierra Vista.
Joel Foster had a chance to speak with Keneshia Raymond, Director of Entrepreneurship Success & Access to Capital at Startup Tucson and BIPOC Loan Fund Committee Member, at the one-year anniversary of BIPOC Entrepreneurs Day at Slow Body Beer. “We’re the only loan in Arizona of this kind,” Raymond said. “They’re coming to us because we understand what they’re going through. We’re here to give them a chance.”
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TUCSON, AZ – The Women’s Foundation for the State of Arizona (WFSA) is honored to announce its 2025-2026 FORGE and ember grantee partners, awarding $650,000 in unrestricted funding to 21 grassroots and community-led organizations advancing racial, gender, and economic equity across Arizona. Challenging systemic inequity in our sector, FORGE prioritizes organizations led by Black, Indigenous, and Women of Color (BIWOC) and those serving BIPOC, women, and gender-expansive communities.
Community at the Core of FORGE
The Fund for Racial and Gender Equity (FORGE) is more than a transaction—it is the next iteration of WFSA’s grantmaking that is grounded in sharing power through decision-making. These 21 grants are the culmination of a process intentionally co-created by leaders of organizations that create systemic and lasting change.
Community Investment Corporation of Tucson’s stated goal is “to promote economic inclusion for all members of southern Arizona, regardless of socioeconomic status.” They say their work “ensures that more people in our community can buy homes, can access the education they want for their children, and can get the funding they need to start, sustain, and grow their small businesses.” CIC (cictucson.org) is a 501(c)3 nonprofit founded in 1996.
Brandi Szymanski, CIC’s rural lending manager, came to Ajo last week for the Ajo District Chamber of Commerce’s monthly meeting to explain more about the many ways some of CIC’s programs may benefit Ajo area individuals and businesses. She said CIC became aware of the recent border closure and its impact on Ajo area businesses and wanted to step in to help. CIC’s three program areas are housing, entrepreneurship, and education. Szymanski’s focus at last week’s meeting was on entrepreneurship, specifically small business financing.
CIC offers low interest alternative financing for business owners who do not qualify for traditional bank loans. Their small business lending program provides access to capital at competitive interest rates with flexible terms and provides lending solutions for organizations of every size. Small business loans are offered in amounts $500-100,000 for 1-5 years at fixed interest rates of 8-10%. Documents required during the application process include establishing a time in business of at least 6 months (though startups may be considered on an exception basis), proof of a business bank account, collateral, proof of business taxes, a profit and loss statement, balance sheet, registered business or trade name, and a credit check (no minimum score is required). If a business is less than two years old, a business plan is required.
Understanding that the process can be daunting, CIC offers flexibility and support during the application process, including assistance in preparing documents. Szymanski emphasized three considerations before seeking funding: how much money is needed, how the money will be spent, and what collateral is available.
In addition to small business lending, CIC offers a BIPOC (Black, Indigenous, People of Color) community managed loan fund. The fund offers interest-free microloans of $500-10,000 with a “storytelling-based application.” No documents are required to apply, and support will be provided in preparing documents during the application process. At least 50% of business ownership must identify as BIPOC to be eligible. BIPOC loans require proof of a business bank account, a profit & loss statement, and a registered business or trade name prior to being given funding. Credit checks, collateral, and loan fees are not required, and a business can be in any stage, including startups.
BIPOC exemplifies characterbased lending, an underwriting approach where a borrower’s personal qualities, community reputation, and other factors beyond credit scores and collateral are given greater emphasis. A volunteer committee make decisions regarding the loan fund. Potential borrowers may apply via video or audio as well as in writing.
For either small business or BIPOC loans, and for those who aren’t quite ready for their first loan, CIC offers referrals to business education courses and other resources. The CIC website offers information about starting a business, understanding finances, as well as how loans work.
Szymanski emphasized CIC’s motto “We Know Your Worth” by relaying that CIC is concerned about what’s best for applicants, and that if CIC turns out not to be the best option for someone, CIC will work with an individual to find alternatives.
Following her presentation, she welcomed comments and questions about her organization. Aaron Cooper, executive director of ISDA spoke about how responsive CIC has been to Ajo, having collaborated with ISDA several times in the past. In fact, CIC funds helped keep the Plaza going, he said.
Cristal Franco, Ajo Business Support Center’s manager, told the Ajo Copper News that the business center is considering offering either virtual or in-person office hours to CIC and that “they’ve been a very helpful partner.”
Szymanski encouraged anyone with questions or curiosity about CIC assistance to email her at brandi@cictucson.org or call her at 520-529-1766 extension 216.
Originally published in Ajo Copper News.
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.
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In this episode of Nonprofit Spotlight, Stephanie Engs talks with Danny Knee, the Executive Director of the Community Investment Corporation (CIC), and Keneshia Raymond, Director of Programs and Access to Capital at Startup Tucson. They discuss the partnership between Start Up Tucson and the CIC supporting the BIPOC Community Managed Loan Fund as well as TENWEST.
Listen to the Nonprofit Spotlight at KXCI.org.
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Two years after launching an innovative loan fund in collaboration with leaders of color in the Tucson business community, Community Investment Corporation (CIC) and the BIPOC (Black, Indigenous, and People of Color) Community Managed Loan Fund are celebrating their 50th no-interest loan. The fund, which focuses on improving capital access to entrepreneurs of color, has made over $400,000 in loans to date across Southern Arizona.
The celebration also marks an expansion of two key partnerships with local nonprofit organizations, Growth Partners Arizona and Startup Tucson. For its part, Startup Tucson is creating the first paid position for what has, to date, been an all-volunteer management committee, while Growth Partners Arizona will be expanding the fund’s lending footprint in 2024 to central and northern Arizona through a $250,000 grant from Wells Fargo. The expansion will include targeted outreach to rural BIPOC entrepreneurs.
Growth Partners Arizona, a certified Community Development Financial Institution, recently invested $100,000 in the BIPOC Loan Fund to serve southern Arizona and have now committed another $250,000 to expand the fund’s lending footprint to the entire state. The $250,000 comes from a grant from Wells Fargo and supports the bank’s work to accelerate the growth of underserved small businesses across the country through investments that increase access to capital, expand entrepreneurial networks, and provide access to knowledge through technical assistance and capacity building resources.
This investment is a part of our larger focus to expand innovative lending programs throughout the state of Arizona. Thanks to the funding from our partners at Wells Fargo we will be able to start the new year off making a significant investment within our rural communities. As we look ahead to the future we are excited to continue to build towards a more inclusive economy.
Startup Tucson, a Tucson-based nonprofit organization whose mission is to revolutionize the Southern Arizona region’s economy through entrepreneurship and innovation, is committing part of the time of their Director of Entrepreneur Success and Access to Capital, Keneshia Raymond, to helping expand the fund’s impact. Raymond is a founding committee member of the BIPOC Community Managed Loan Fund and will become the BIPOC Loan Fund’s first funded staff person.
Raymond will play a pivotal role in spearheading this initiative and expanding its reach, resources, and impact. Raymond will collaborate closely with CIC to develop comprehensive strategies, promote awareness, secure funding, and provide strong leadership to ensure the BIPOC Loan Fund’s continued growth and sustainability.
Startup Tucson recognizes the pressing need within the community for equitable and accessible access to capital for BIPOC business owners. “At Startup Tucson we champion the BIPOC Loan Fund and wholeheartedly support its mission to empower underrepresented entrepreneurs and foster a more inclusive and vibrant entrepreneurial ecosystem.” said Raymond. Raymond background includes 14 years as an entrepreneur and business coach who, in addition to her duties at Startup Tucson, runs her own online company, has raised over $8 million of investment for small businesses, and successfully exited a previous business.
“Keneshia’s experience as an entrepreneur and her leadership within the BIPOC Community Managed Loan Fund has been truly exceptional,” said CIC’s Executive Director, Danny Knee. “She is forward-thinking with a vision to activate the sidelined economic power of underrepresented entrepreneurs within our community whose businesses have suffered from underinvestment.”
The BIPOC Community Managed Loan Fund is an example of character-based lending, an underwriting approach through which a borrower’s personal qualities, community reputation, and other factors beyond credit scores and collateral are given greater emphasis. Its volunteer committee of BIPOC community leaders has complete authority over the loan fund including defining the application process and underwriting criteria to assess loan viability. In the loan product design phase, the committee identified specific obstacles to capital access for BIPOC communities which included distrust of the traditional financial institutions, overly complicated application processes, and banking’s over-reliance on collateral and credit scores to make loan approval determinations. A low-barrier application allows business owners to apply via video or audio as well as in writing.
“One of the largest challenges for entrepreneurs, especially BIPOC entrepreneurs, in our region is access to capital,” said said Liz Pocock, CEO, Startup Tucson. “The trailblazing work of CIC and the BIPOC Loan Fund strengthens our economy, and we couldn’t be prouder to call them a partner and support the future longevity of the Fund and its mission.”
As the BIPOC Community Managed Loan Fund continues to pave the way for a more inclusive and equitable business landscape, this partnership with Startup Tucson reinforces the collective commitment to driving positive change and advancing economic empowerment in Southern Arizona. On Friday, September 15th, CIC and Startup Tucson will be hosting a 2 year Celebration of the BIPOC Loan Fund Celebration at Hotel McCoy from 5:30pm-7:30pm. Festivities will include acknowledging the programs’ milestones and partnerships, amplifying the talent and hard work of program participants, and connecting within our community.
For more information about the BIPOC Community Managed Loan Fund and its partnership with Startup Tucson and Growth Partners Arizona, please visit the program website, here.
About CIC: Community Investment Corporation (CIC) is a financial empowerment nonprofit. We give the members of our community, who are shut out of and left behind in our economy, access to the knowledge and financing they need to pursue new opportunities. CIC unlocks the door to prosperity for all members of our community to meaningfully participate in our powerful but imperfect capitalist economic system and reclaim the American Dream. At CIC, WE KNOW YOUR WORTH. The system may not recognize your value, but we do. Learn more about our loan, homeownership, and school bond compliance programs at CICTucson.org.
About Startup Tucson: Startup Tucson is a 501(c)(3) nonprofit working to transform our region’s economy through entrepreneurship and innovation. Startup Tucson executes this mission by providing education and culture-building programs and events to grow a high-impact entrepreneurial and innovative ecosystem. You can find information about the organization and upcoming opportunities to engage at startuptucson.com.
About Growth Partners Arizona: About Growth Partners Arizona Growth Partners Arizona is the largest Black-led Arizona-based CDFI that provides affordable, responsible financial products to local underserved communities. As a trusted intermediary between the public and private sectors, Growth Partner Arizona aims to achieve economic justice through forward thinking, collaborative, and inclusive approaches to capital access in Arizona. We are committed to building a more inclusive economy that works for everyone. For more information visit: growthpartnersaz.org.
A $100,000 investment has been made to support at least 10 Southern Arizona small business entrepreneurs who are Black, Indigenous or people of color.
The investment from the Tucson-based Growth Partners Arizona will be available through the Community Investment Corporation’s BIPOC Community Managed Loan Fund.
The no-interest microloans of up to $10,000 are awarded under a character-based lending model, in which a borrower’s personal qualities, community reputation and other factors that go beyond credit scores and collateral are given greater emphasis, a news release said.
The loan fund is two years old, and its volunteer committee of community leaders has the decision-making authority for the loan funding, defining the application process and the criteria used.
Obstacles to capital access for communities of color include distrust of traditional financial institutions, overly complicated application processes, and banking’s over-reliance on collateral and credit scores to make loan approval determinations, the committee found.
Instead, a low-barrier application allows business owners to apply via video, audio or in writing. Only after being approved for a loan are entrepreneurs required to provide financial and business documentation, the news release said.
Over the past two years, the committee has approved more than 50 no-interest microloans in Southern Arizona, totaling nearly $400,000 in funding.
“I think some traditional lenders might be skeptical of our underwriting process,” said CIC Executive Director Danny Knee, “but the performance of our loan portfolio shows that we are on to something with our trust-based approach.”
Growth Partners Arizona, a Community Development Financial Institution, is planning to expand the fund’s community-managed approach statewide, the news release said.
“Investing in the fund is not only important to the community but resonates with me personally,” said Growth Partners Arizona CEO Andre Whittington. “I have witnessed family members and friends lose their businesses due to limited or nonexistent funding opportunities. Through this partnership we are providing real solutions and establishing inclusive financial pathways for BIPOC business owners to secure the capital needed to scale their businesses.”
For more information about the BIPOC Community Managed Loan Fund, visit tucne.ws/1kzm.
Read the original article on Tucson.com.
When John Benedict drove from Philadelphia to rural southern Arizona five years ago in a van he bought for $1,000 with money saved from eBay sales, he had no intention of becoming a farmer.
He just knew he wanted to leave city life, and an unfulfilling career in finance, behind.
“I just knew I wanted freedom,” Benedict, 33, said. “I just wanted land and space.”
With the help of the thriving, local agricultural community in Cochise County, Benedict has become the farmer he never thought he’d be, cultivating organic beets, carrots, strawberries, onions, broccoli, cabbage, salad greens, squash, cucumbers, tomatoes and more.
And with the help of a novel funding vehicle from Community Investment Corporation, Benedict’s farm, Desert Sky Produce, has been able to grow, turn a profit and inspire him to think bigger.
Community Investment Corporation, a non-profit financial-empowerment organization, is part of Local First Arizona’s AZNavigator, a statewide small-business and entrepreneurship-assistance center. The 10 organizations that comprise AZNavigator provide no-cost assistance to startups and local business owners in Arizona.
“When I moved out here, I was living in a van. It was cold and miserable,” Benedict said, noting he is now organizing a co-op of other small-scale growers. “Without Community Investment Corporation’s funding, this would not even have been remotely possible.”
The farming and the funding came together in the most happenstance of ways, beginning with simple conversations.
On a visit to a local food bank, a local farmer invited Benedict to earn money by helping seed his land. Benedict accepted, and it changed the trajectory of his life.
“I never stopped farming, from that moment on,” he said. “It felt like this is exactly what I’m supposed to be doing.”
With that anchor in place, Benedict learned while working, made the most of whatever funds came his way — investing in solar panels, water tanks and pumps — and continued creating connections within his rural community.
Another of Benedict’s connections at the food bank quite literally paid off.
A woman there directed him to Community Investment Corporation, where he learned about a loan fund for entrepreneurs of color that could help him expand his farm.
As a Black farmer with no capital to use as collateral, Benedict embodied the reason the loan fund was created.
Less than 2% of farmers nationwide are African-American, and studies show Black and minority farmers on average receive less access to credit than white farmers.
Brandi Szymanski, the corporations’s rural lending manager, said the fund was created in the wake of the Black Lives Matter movement to provide financial opportunities to all kinds of entrepreneurs from underserved communities.
“The world should be more economically available to everybody,” Szymaski said.
To receive a zero-interest loan up to $10,000 from Community Investment Corporation, applicants are asked to shoot a video of the work they’re doing and what they hope to accomplish with financial support.
Benedict appreciated the creative approach to the funding application because it meant he wouldn’t be dismissed for not coming to the table with years of financial records.
“I did my application in my field,” he said. “I literally showed them my field of garlic and onions. It felt amazing showing them that I already had the seeds going.”
With the funding in place, Benedict has started a Community Supported Agriculture (CSA) initiative to serve a local rehab facility, plans to open a retail space and is partnering with local schools. All of the work is allowing him to realize his goal of providing healthy foods to people who need it most.
Plus Benedict gets to literally pay his loan forward.
“I love knowing that every month when I make my payment that money is going from me to the next farmer and small business owner,” Benedict said. “And if we really talk about equality, there are different ways to level the playing field. One of them is childhood and prenatal nutrition. So, if we can get healthy and organic food to people who can’t afford it, that’s the mission.”
Szymaski, who recently visited Benedict’s farm, said she was impressed with the progress he has made. His success, she said, is exactly why she loves doing the work she does.
“He’s thriving,” she said, recalling her visit to Benedict’s farm. “This is really social work. It’s lending, but we’re not a bank.”
Buy produce from Desert Sky Organic’s new co-op at 9110 N. Highway 191, McNeal, AZ, call (520) 200-0549 or visit www.thelocalcoopaz.com.
Learn more about Community Investment Corporation’s low-interest lending for rural and underserved communities here.
Learn more about AZNavigator’s free assistance for Arizona small businesses here.
Read the original article on Local First Arizona.
