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.
Odaiko Sonora Rhythm Industry received a CIC COVID-19 Emergency Microloan and we are thrilled to have had this offering make all the difference to the business.
Odaiko Sonora Rhythm Industry
"Being a small nonprofit dedicated to performing arts and arts-integrated education is a risky venture. In four days, Odaiko Sonora lost every gig left this season. The timing couldn't have been worse. All the programs I applied for were overwhelmed and unresponsive . . . until I found CIC. The care and professionalism, and most importantly the speed with which CIC staff were able to assist has restored my faith that Odaiko Sonora will weather this storm." Karen Falkenstrohm, Director Odaiko Sonoran Rhythm Industry
“In hard times, artists come in to help communities. The arts are a critical part of responding and rebuilding individual and community spirit. By supporting us at this time, Community Investment Corporation recognizes the arts and culture industry will be one of the major engines helping re-build Tucson’s economy and quality of life.”
About Odaiko Sonora Rhythm Industry:
Serving southern Arizona since 2002 Odaiko Sonora has increased first-hand knowledge of taiko — Japanese ensemble drumming — and the opportunities it presents for personal growth and community service throughout the region. The group’s performances, classes, school residencies and team-building workshops reach over 150,000 people each year, including thousands of K-12 students. Odaiko Sonora’s warehouse studio, Rhythm Industry Performance Factory is the only artist-owned performing arts incubator space in the Southwest and is a critical feature of Tucson’s performing arts landscape.
Through a unique partnership with Tucson Unified School District’s Opening Mind through the Arts, Odaiko Sonora provides arts-integrated and mindfulness programs using taiko.
LEARN MORE ABOUT ODAIKO SONORA RHYTHM INDUSTRY: