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.
London Town Barber Shop received a CIC COVID-19 Emergency Microloan and we are thrilled to have had this offering make all the difference to the business.
London Town Barber Shop
"The moment I knew I was receiving the funding I knew I could weather the storm." Nick Baca, Owner London Town Barbershop
“It is definitely great to have that piece of mind, especially at that time when I was talking to Brian at CIC. We did not know what the timeline (of the shutdown) was going to be.”
About London Town Barber Shop:
London Town is a full-service barbershop specializing in quality haircuts, beard trims, and shaves. A Tucson business for over 12 years, London Town barbers are committed to quality service along with an accommodating environment.
The safety of his employees and clients is paramount to owner Nick DeBaca. Nick took action to ensure everyone’s safety even before Arizona was put into shutdown. Since then, barbershop and salon industry employees and owners have not been able to work. While anxious to reopen, Nick’s genuine concern is the safety of everyone, of people with underlying health concerns, and of more vulnerable people. Safety protocols are in place for everyone’s protection as they reopen.
London Town Barbershop has earned a proud reputation in Tucson. CIC, in turn, is proud to support them during this unprecedented time.
And now, the skilled London Town barbers look forward to “fixing all those quarantine cuts.”
LEARN MORE ABOUT LONDON TOWN BARBERSHOP: