CIC COVID-19 Emergency Loan Success Story!
In mid-March, as our country was facing the unprecedented reality of rapid closure to ensure public safety the Community Investment Corporation loan team understood exactly what that meant for small businesses, revenue loss that could potentially lead to permanent closure.
Within days the CIC team developed the COVID-19 Emergency Microloan product and began offering access to two community-backed loan products, one from Kiva Tucson and one from Wefunder, each designed to bridge small businesses through the unknown future.
In addition, CIC invested $200,000 of our loan portfolio to support these small businesses either for the $10,000 microloan product or the help businesses reach a time-sensitive community-backed loan goal.
Dos Manos Apiaries received a CIC COVID-19 Emergency Microloan and we are thrilled to have had this offering make all the difference to the business.
Dos Manos Apiaries
"As a small business owner I can say that in my case Community Investment Corporation has truly fulfilled its mission of helping Pima County prosper at a much needed time" Noel Patterson, Owner Dos Manos Apiaries
“Timing is critical. Dos Manos is a honey producer, a business where 80 percent of the expenses occur during the spring and aren’t recovered until later in the year when there is honey to sell. This year, due to the pandemic, cash flow during the busy spring season was reduced to almost zero, and Community Investment Corporation provided a much needed bridge, so that we could still produce this season’s crop and maintain our income later in the year. Every person I had contact with at CIC was truly dedicated to help, the process was transparent and happened quickly, on the timeline that Dos Manos needed to get through this difficult time. Thank you CIC!”
About Dos Manos Apiaries:
Dos Manos Apiaries is a small scale honey project created to foster community around the activity of beekeeping in the Sonoran Desert. For Dos Manos Apiaries, beekeeping is activism. To create good in our environment and community is as much a part of our intention as the gathering of honey. We are committed to keeping bees using, natural, treatment-free methods, and being a model to show that anybody can keep bees in Tucson if they want to.
Founder and owner Noel Patterson shared that, “As a Tucson native, I genuinely love the Tucson ethos and I want to have a values-oriented business that gives back to the community. I use the business to be a manifestation of those values and to benefit the community around me.”
LEARN MORE ABOUT DOS MANOS APIARY:
