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.
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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.
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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.
Tucson, AZ — The BIPOC Loan Fund and Community Investment Corporation (CIC) are proud to announce the one-year anniversary of BIPOC Entrepreneurs Day, officially proclaimed on May 1, 2024, by City of Tucson Mayor, Regina Romero, the Pima County Board of Supervisors, and recognized as part of the State of Arizona’s Small Business Week. This milestone marks a year of intentional recognition and support for Black, Indigenous, and People of Color (BIPOC) business owners who continue to shape Arizona’s economic landscape with resilience and innovation.
To celebrate, the BIPOC Loan Fund, CIC, and Startup Tucson will host Startup Drinks: The BIPOC Entrepreneurs Day Edition, a free community networking event honoring BIPOC entrepreneurship on Thursday, May 22, from 5:30 to 7:30 PM at Slow Body Beer. The event will bring together entrepreneurs, supporters, and the BIPOC Loan Fund Committee for an evening of networking and celebration. Members of Southern Arizona’s BIPOC entrepreneurial community are encouraged to attend, connect, and share their journeys.
Adding to the celebration, on May 1, the BIPOC Loan Fund was honored to receive a $65,000 grant from the Women’s Foundation for the State of Arizona (FORGE Fund). This award places the BIPOC Loan Fund among 21 grassroots and community-led organizations selected for their efforts to advance racial, gender, and economic equity across the state. In challenging systemic inequities in the business and lending sectors, the FORGE Fund prioritizes organizations led by Black, Indigenous, and Women of Color (BIWOC) and those serving BIPOC, women, and gender-expansive communities. Spearheaded by an all-BIPOC Committee, businesses funded by the BIPOC Loan Fund include some of the following:
Since its inception, the BIPOC Loan Fund has provided accessible capital to Arizona-based BIPOC-owned small businesses, addressing generational barriers to entrepreneurship and investment with low-interest loans, character-based applications, and support throughout the financing process.
Join us on May 22 to celebrate the accomplishments of the past year and celebrate the vibrant accomplishments of Arizona’s BIPOC entrepreneurial community.
Event Details:
Slow Body Beer: 831 E 17th St, Tucson, AZ 85719
Thursday, May 22, 2025
5:30 – 7:30 PM
Free to attend. All are welcome. Limited space, registration required. https://www.eventbrite.com/e/startup-drinks-bipoc-entrepreneurs-day-edition-tickets-1316948992889?aff=oddtdtcreator
About CIC
Community Investment Corporation (CIC) is a nonprofit economic development organization that helps underserved communities gain access to the capital and support they need to thrive. Through creative financing and community-centered partnerships, CIC helps build an Arizona where everyone has the opportunity to succeed.
Click here to download the press release.
Congratulations to Alexa Rodriguez of Adela Artisan Made, a CIC and BIPOC Loan Fund recipient, for being featured in Governor Katie Hobbs 2025 State of the State Address!
Governor Hobbs stated, “Arizona’s economy thrives because of small businesses like the one founded by Alexa Rodriguez. After discovering her passion for entrepreneurship, she started an online boutique selling crafts that honor her Mexican heritage. While starting a business was hard, Alexa learned that securing a loan through traditional channels was even harder.
That changed when she got a loan through our Microbusiness Loan Program, which is designed to provide financial support for our state’s smallest businesses. The loan has helped her scale up her operation, allowing her to make more products and sell directly to customers at a mall kiosk. Through the program, she’s also getting financial education and training so she can execute on her future plans.”
Special thanks to our friends at the Southern Arizona Hispanic Chamber of Commerce for hosting this wonderful event, and gratitude to our community partners Growth Partners and Kiva Hub! We are so proud of all of our loan recipients, and the support we have received this far from our community partners and the Arizona Office of Economic Opportunity.
The collaboration between Community Investment Corporation (CIC) and Vantage West Credit Union is redefining community-focused financial services in Southern Arizona. Together, these organizations are creating a more inclusive, supportive ecosystem for small businesses and underserved communities.
In 2018, Vantage West Credit Union took a pivotal step toward deepening its community impact by becoming a certified Community Development Financial Institution (CDFI). This designation marked a major shift in the credit union’s mission, underscoring its commitment to serving economically disadvantaged communities across Southern Arizona.
Recognizing the need for strong partnerships to amplify their CDFI efforts, Vantage West sought out Community Investment Corporation, a leader in the community and their innovative micro-lending programs with a proven track record of supporting ‘unbankable’ businesses in Southern Arizona.
CIC’s focus on providing tailored financial solutions to the community but specifically for marginalized communities like minority, women, and veteran-owned businesses aligned perfectly with Vantage West’s goals. The collaboration leveraged CIC’s expertise in micro-lending and Vantage West’s broad financial capabilities, creating a powerful synergy.
As Jon Bruflat, VP of Community Impact at Vantage West, explains, “We’ve worked with CIC for years and have seen the impact of their alternative lending with small businesses that haven’t been able to qualify for traditional loans. Our investment in their work and ongoing partnership supports Arizona’s small business community and is adding economic horsepower to our local economy.”
In 2024, the partnership reached a new level of collaboration. The Office of Economic Opportunity, under Governor Hobbs, announced a grant initiative for community lenders requiring applicants to match the funds allotted with 3 times the amount of the distributed funds. For CIC Tucson, a 501c3 nonprofit, their grant of $350,000 from the State presented an exciting opportunity but also a financial challenge to raise the matching funds before the grant deadline.
Recognizing the potential impact of the grant and CIC’s critical work, Vantage West stepped in, offering a low-interest loan that allowed CIC to secure the matching funds and access the full grant amount. Jon expressed Vantage West’s commitment to CIC’s mission, stating, “We’re dedicated to supporting organizations that make a real difference in our community. CIC’s work aligns perfectly with our values, and we’re proud to be part of this initiative.”
Danny Knee, Executive Director of CIC Tucson, shared his perspective: “The ecosystem we’ve built – goes beyond just providing loans. It’s about offering education, resources, and access to capital for businesses that otherwise wouldn’t qualify for financing. We can’t thank John and the team at Vantage West enough for their generosity, partnership and commitment to serving our community. For Vantage West to recognize the value we bring to the financial services ecosystem and to work to create a pathway to traditional financing for our borrowers is incredibly meaningful.”
The partnership between CIC Tucson and Vantage West Credit Union marks a new era of community-focused lending in Southern Arizona. By combining their strengths and resources, they are not only providing immediate financial support but also building a roadmap for small businesses to grow and succeed. As Arizona’s small business landscape evolves, the collaboration between CIC and Vantage West serves as a model for how innovative partnerships between the banking system and the nonprofit community can drive economic growth and community empowerment.
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 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.
As our country prepares to spend billions of dollars in new funding on environmental efforts, America is sitting on a gold mine in the fight against climate change, and we need to do something about it.
The opportunity lies with small businesses.
Many small-business owners want to be more environmentally friendly — and all are interested in saving money. Implementing simple changes like LED lights to large projects like installing solar panels can make a big difference to both our planet and businesses’ bottom lines.
The size of the opportunity is huge.
In Arizona, nearly 600,000 companies have fewer than 20 employees; nationwide, it’s more than 26 million. That’s 98% of all U.S. firms.
But small-business owners are stretched thin.
They often juggle everything from marketing to purchasing to accounting, duties that corporations have whole teams to handle. Adding “Chief Sustainability Officer” to a small-business owner’s “to-do” list can seem daunting.
Another challenge is the capital to carry out “green” projects.
Rarely do small businesses have a few hundred or thousand dollars to spare for sustainability upgrades, even when the investment will save them as much or more money in the long run.
The new environmental tax incentives offered by the Inflation Reduction Act alone may recover the cost of some projects.
And yet, big banks will laugh a small business out the door for seeking a modest loan “just” to conserve water and energy or require burdensome hoops for the business to jump through.
Thankfully, there is a solution.
Local First Arizona’s Green Business Boot Camp has helped hundreds of local business owners cut their water, energy, waste and transportation usage by 20% or more with simple adjustments, often leading to thousands of dollars in savings.
For example, Green Business Boot Camp graduate Pines Inn & Suites in Cottonwood is installing motion-sensor thermostats to keep air-conditioning costs down when rooms are vacant.
Phoenix restaurant Duck & Decanter is conserving major amounts of water by putting in low-flow toilets and upgraded kitchen equipment.
And Tucson dessert shop Frozen Delight has turned to recyclable packaging.
In addition to education and support from the boot camp, our Green Business Micro-Loans provide the financial runway for small businesses to afford these changes.
With these loans, boot camp graduates in six Arizona counties can get help paying for sustainability improvements at low-interest rates through a short application process.
In Maricopa and Yavapai counties, the newly launched Green Loan Fund, made possible by Growth Partners Arizona and Vitalyst Health Foundation, provides loans to eligible local businesses up to $10,000 at 3% interest, which businesses pay back entirely with savings generated by their sustainability projects, so their cash flow is uninterrupted.
In Pima County, the Green Community Fund, created in partnership with Community Investment Corporation, provides up to $15,000 at 0–5% interest.
And in Graham, Greenlee and Cochise counties, small businesses can receive loans up to $25,000 at 7% interest through Community Investment Corporation for “green” as well as other projects.
One of the best things about these micro-loans is how easy they are to obtain.
Whereas traditional banks may require years of financial statements, credit scores and collateral to extend credit, these funds rely on “character-based” lending.
A free energy and water audit conducted by Local First plus an explanation of how the money will be used, the anticipated savings and the local business’ support in the community is all that is asked.
Kevin Ticer, owner of Custom Upholstery Services in Safford, said applying was a snap. “It was easy to go through the micro-loan process,” he said. “After a couple of meetings with the loan committee, I was approved and able to invest in the equipment and remodeling that I needed.”
But loan programs like these need more funding to fully power the shifts small businesses must make in the coming years.
If we don’t invest to help local entrepreneurs become more sustainable, it will cost us all eventually.
Recognizing the motherlode that small businesses hold to achieve progress toward climate goals is the first step for our society. Obtaining more funding — whether from government, private foundations or donors — is our next responsibility.
Kimber Lanning is the CEO of Local First Arizona. Andre Whittington is the executive director of Growth Partners Arizona. Danny Knee is the executive director of Community Investment Corporation.
