For more information contact:
Teira E. Farley
Director of Communications + Engagement
teira@cicville.org
(434) 218-3481

SMALL BUSINESS EDUCATION, CAPITAL AND RESOURCES COMING TO SOUTHERN VIRGINIA

Community Investment Collaborative (CIC) partners with RISE Collaborative and Longwood Small Business Development Center (SBDC) to empower local entrepreneurs

South Boston, VA – Community Investment Collaborative (CIC) is bringing its signature program, a 16-week Entrepreneur Workshop, to Southern Virginia. The Entrepreneur Workshop, powered by RISE Collaborative, will facilitate virtual classes to introduce a proven curriculum to aspiring and existing entrepreneurs in the region. Sessions will begin in February 2025 with course content covering business basics such as customer discovery, marketing, accounting, break-even analysis, cash flow, prospecting, and more. Applications are available now through January 3, 2025 on CIC’s website at cicville.org/southern-virginia-entrepreneur-workshop.

The endeavor is a partnership among CIC, the SOVA Innovation Hub, and the Longwood Small Business Development Center (SBDC), made possible through the RISE Collaborative regional entrepreneurship initiative. The Entrepreneur Workshop will enhance the tools and resources available to business owners in Danville, Martinsville, the counties of Amelia, Brunswick, Buckingham, Charlotte, Cumberland, Halifax, Henry, Lunenburg, Mecklenburg, Nottoway, Patrick, Pittsylvania, and Prince Edward, and surrounding areas.

“We’re thrilled to partner with Community Investment Collaborative (CIC) to bring the CIC Entrepreneur Workshop, powered by RISE, to the Southern Virginia region,” said Lauren Mathena, Director of Economic Development and Community Engagement for Mid-Atlantic Broadband Communities Corporation and SOVA Innovation Hub Project Director for RISE Collaborative. “The 16-week, virtual format of this program combines CIC’s decade-long expertise in training entrepreneurs with our experience from five successful cohorts of the RISE Business Bootcamp. This program aligns with the RISE Collaborative mission to connect entrepreneurs with community, fostering strong relationships among participants and providing essential resources to start, grow, and scale businesses that enhance the diversity and vitality of Southern Virginia’s economy. With added support from CIC, we look forward to equipping more aspiring entrepreneurs and existing business owners with the skills and resources needed for long-term success,” Mathena shares.

Funded in part by a GO Virginia grant, the program is a portion of an expansive effort to increase access to capital for business owners in the Southern Virginia area, and invites CIC to continue its mission to serve under-resourced entrepreneurs, while collaborating with local organizations with shared interests and those who are committed to the work and invested in its potential impact.

“The team at Longwood SBDC is excited to welcome CIC and to have their resources and expertise in leading their 16-week Entrepreneur Workshop, powered by RISE. SBDC staff and consultants will be working as part of the RISE team to provide one-on-one consulting to the participants as they progress through the program. We look forward to utilizing our strength as a consulting team to help participants build successful business ventures,” says Sheri McGuire, Longwood University Associate Vice President for Community and Economic Development and Executive Director of Longwood SBDC.

In addition to its Entrepreneur Workshop, CIC will provide microloans of up to $50,000 to help local businesses optimize operations, purchase equipment or inventory, improve building conditions or support short-term working capital. Loan products range from three (3) months to five (5) years, decisions can often be made within 30 days, and interest rates cap at 9.75% with a lower rate offered to graduates of the Entrepreneur Workshop and long-term clients of the Longwood SBDC. CIC’s Financial Management Program (FMP) brings an additional layer of business development, aiding entrepreneurs in their fiscal responsibility by pairing them with financial coaches. Building a local team of professionals is also in the works to ensure the small business community has hands-on support in accomplishing their business goals. Job opportunities exist for a CIC Loan Officer and a RISE Navigator & Program Manager to serve alongside the Entrepreneurial Impact Manager, Laura Coleman, and RISE Community Business Navigator, Fritz Amspacher, who have already been working in the area for the past few months.

“CIC is proud to expand our team and programming into the Southern Virginia region,” says Stephen Davis, President, CIC. “With the success of the Entrepreneur Workshop in urban and rural localities, we recognize the power in positioning and how it can remove barriers that limit access to entrepreneurship. By increasing capital, education, and networks, we provide the infrastructure for the business owners to work where they live, which bolters the local economy and fosters a stronger sense of support among the community.”

Applications for the Spring 2025 semester of the Entrepreneur Workshop are open through January 3, 2025. To apply for the virtual workshop or to learn more information regarding CIC programs and available positions to work one-on-one with entrepreneurs in Southern Virginia, please visit cicville.org or contact Laura Coleman at (434) 218-3481.

ABOUT COMMUNITY INVESTMENT COLLABORATIVE (CIC)
Community Investment Collaborative (CIC) is a Community Development Finance Institution (CDFI) with a mission to strengthen the community and contribute to economic development by fueling the success of under-resourced entrepreneurs through education, mentoring, financing, and networking. CIC celebrated its 10-year anniversary in 2022, has over 625 graduates from its 16-week Entrepreneur Workshop, and has issued more than $4 million to over 205 entrepreneurs through its microloan program. Learn more about CIC at https://cicville.org.

ABOUT RISE COLLABORATIVE
RISE Collaborative is a regional entrepreneurship ecosystem building initiative co-hosted by the SOVA Innovation Hub and the Longwood SBDC with partial funding from GO Virginia. RISE, which stands for “Regional Investment in Startups and Entrepreneurs,” serves aspiring entrepreneurs and existing business owners in a 15-locality region in Southern Virginia. The SOVA Innovation Hub is a non-profit organization operating a coworking space and offering digital skills and entrepreneurship programs across the Southern Virginia region. The Longwood SBDC is funded in part through a cooperative agreement with the U.S. Small Business Administration, George Mason University, and local host institutions. The Virginia SBDC is nationally accredited by America’s SBDC.

The CIC Southern Virginia Entrepreneur Workshop, powered by RISE Collaborative, is funded in part by GO Virginia, a state-funded initiative administered by the Virginia Department of Housing and Community Development (DHCD) that strengthens and diversifies Virginia’s economy and fosters the creation of higher wage jobs in strategic industries.