Community Investment Corporation

Join us on September 12th at the Ridgefield Library for “Simple Steps Part 1: Are You Ready To Start Your Own Business? Make Your Case.” This free event is being held by our friends SCORE Fairfield County and is meant to accurately portray the risk and reward of starting a business in today’s competitive marketplace, including the traits that lead to success. Learn more and register today: https://www.score.org/fairfieldcounty/event/simple-steps-starting-your-business-part-1

Please join CIC in congratulating Bridget Marshall, owner of Ohfudgeandmore, on opening her first brick-and-mortar location at 1588 Saybrook Road, Haddam, CT. Oh Fudge! and More has been creating tasty treats since 2018, and experienced tremendous growth during the Covid-19 pandemic. This growth resulted in the opportunity to expand into the surrounding community by establishing a retail presence.

Oh Fudge! and More will hold their grand opening this Saturday, July 2nd, from 12pm – 9pm at their new location. Stop by and enjoy homemade fudge, chocolate treats, ice cream, and much more! There will also be live music, kids activities, and plenty of giveaways!

CIC would also like to thank Dawn Sandvoss with Chelsea Groton Bank for a great partnership! We look forward to seeing you at Oh Fudge! and More’s grand opening. If you’re unable to attend and are interested in shopping local to support small businesses, check out their homemade treats via their website: https://www.ohfudgeandmore.com/

TONIGHT AT 6:00 PM!

A Free Workshop from the Black Chamber of Commerce and SCORE - Match Your Funding Needs to Available Options

There are many approaches to securing additional money to support your business. This workshop will focus on what your financing needs are and how to finance them. Is it for operations or equipment or hiring more people, etc.? Our panel of experts will show you how to navigate the various sources of funding based on how the money will be used.

CIC Business Advisor, Joe McCaffrey, will be joining a panel of experts to share insight and best practices for getting funding for your small business. Join us from 6:00 - 8:00 pm in , Connecticut.

Register here: https://score.tfaforms.net/17?EventID=a105a000005rNl5

504 loan rates for June are here. Contact one of our 504 loan officers to talk loan structure, eligibility, and benefits for your growing business. There are so many pros to this powerful SBA program, but without the expertise of a team that knows its way around it, there's much to be left on the table.

Send us a message to find out more, or visit our website: www.ciclending.com.

Some great press for some great businesses! CIC clients The Stackhouse and KIN Southern Table in will delight you with their excellent food and friendly service!

Food News: A Taste of the South: June 2022 June 2022

The 2021 Annual Report is here!

We are pleased to share the digital version of Community Investment Corporation’s 2021 Annual Report. This year’s report features borrower businesses that leveraged CIC’s unique Lending Power to not only survive the COVID economy, but to thrive in it. Plus, we have news to share about some exciting changes and additions to the CIC team.

2021 Annual Report - Community Investment Corporation We are pleased to share the digital version of Community Investment Corporation’s 2021 Annual Report. This year’s report features borrower businesses that leveraged CIC’s unique …

What a delight to help launch another small business in Connecticut! Please join us in congratulating Leah Fleeting, owner of Creative Hearts Learning Academy, on the grand opening of her daycare center in , CT.

In 2020, Leah left the corporate world and used a to finance the startup of Creative Hearts, out of rented space in her church. With an eye toward purchasing a building for her rapidly expanding business, Leah came back to CIC.

Through a partnership with Connecticut Economic Development Fund (CEDF), our team helped bring Leah's dream to life. Using funds from the EDA loan program, we helped Leah purchase the building and make all the necessary renovations to welcome these adorable kids!

SBA 504 Rates for May are here.

To make the most of this powerful, commercial loan program, you need the help of a team that knows SBA lending inside and out. That team is Community Investment Corporation. Find out more about what we do at http://ciclending.com.

JOIN US for a WEBINAR" CAPITAL ACCESS - Power of the SBA

Presented by Marcum LLP Accountants & Advisors, featuring CIC President Louis Silva, and VP Richard Evans.

When: TUESDAY, May 3rd at 2:00 pm EDT

To register: https://marcumllp.zoom.us/webinar/register/WN_YYepQNpoTJaYxjDrtaJF3Q

After searching for several years for just the right place for his gym, Liam Fay finally found the spot that fit his vision for growing the successful CrossFit business he started in 2014.

By leveraging the Lending Power of the SBA's 504 loan program, Liam purchased a 7,200+ sq. ft. facility in Bethel, CT that provides the additional space he needs to welcome more customers, hire more staff, and create a new home for his growing fitness center.

And, thanks to the experienced lending team of Todd Modica at CIC and Brian Reklaitis of M&T Bank , more folks in will have the benefit of a quality CrossFit training center to enjoy.

https://crossfitbethel.com/

CFB Athletic Club At CFB Athletic Club in Bethel, CT, we build strong bodies. We'll help you make a plan to hit your health and fitness goals.

Have you ever had a ? Oh, it is sooo delicious!

And for people of Caribbean descent, Papi's Coquito Rico is the only authentic tasting coquito in Rhode Island.

With the help of the SBA's Community Advantage (CA) program, Papi's founders, Luis Olmo and Victor Regino, recently launched their own brand of this traditional Puerto Rican beverage.

CIC's Buck Harris worked with Luis and Victor to ensure the CA program met their needs as a start-up business poised for success, and saw the project through from application to closing.

If you want to try Papi's secret coquito recipe (and we totally suggest you do!), head over to Jordans Liquors in East Providence to buy some before it sells out.

One of the first challenges in getting a business loan is the credit check. Lenders of all kinds, including CIC, use your credit score as an indicator of your (or your business's) ability to repay a loan.

Before you submit a loan application, take a few minutes to check your credit score. If necessary, there are a few things you can do to optimize that score so that your loan application can move through the process smoothly.

How to Optimize Your Credit Score - Community Investment Corporation Your credit score is a numerical measure of your potential default risk on a loan. When shopping for a loan, insurance, an apartment, or even …

Congratulations to the owners of The Breachway Grill in Charlestown, Rhode Island, on their purchase of the building in which their iconic beach bar & grill has called home for several years. Owning a business is one thing, but when you own the real estate that the business lives in, there's an investment that offers flexibility, freedom, and creative inspiration.

CIC's Buck Harris worked with Beth D'Amato at Dime Bank to help make this project a win for the owners of this summer time favorite with a great vibe and terrific food!

If you're a small or medium-sized business owner looking to buy real estate, equipment, or invest in the growth of your company, contact CIC about the SBA 504 program. It really is a smart loan growth.

Great news coming out of the SBA today!

SBA Extends the Community Advantage Loan Program - Community Investment Corporation Big news coming from Washington today! U.S. Vice President, Kamala Harris, and SBA Administrator, Isabella Casillas Guzman, have announced the renewal and expansion of the …

Karine Dubner’s California-based company has been growing steadily as an online retailer, and opened its first retail store in Carmel, California last year. The brand epitomizes 'The New American Minimalism', bringing conscious luxury with a European flair. We welcome Karine and Brochu Walker to Westport, Connecticut, where they have recently opened a second retail location.

Using a loan, Brochu Walker purchased the building at 139 Main Street as part of a $2.8 million total project. Our partner was Jenny Aragon from Chase Bank, also from California.

Jenny found CIC through John Xu at the Connecticut SBA district office, and Christine Sullivan from the SBDC... lots of collaboration to get this project completed! Please join us in welcoming Brochu Walker to the east coast and stop in their store in Westport. You will love their selection!

For an online preview: https://brochuwalker.com

March loan rates are here. If you or your clients are thinking about purchasing commercial real estate or making major investments in equipment, the 504 loan is the smart way to go. To find out more, visit us online at http://ciclending.com/sba-504-loans

No matter what kind of business you operate or how solid your business plan, your personal credit history is critical to securing financing.

CIC recommends that entrepreneurs do a credit checkup before applying for financing. The more you know about your own financial health, the better you will be able to plan for the future of your business.

One place to start this process is AnnualCreditReport.com. This website allows you to obtain a copy of your credit report at no charge, and is accredited by the Consumer Financial Protection Bureau. In other words, it's legit.

Annual Credit Report.com - Home Page ACR Home Page

What *is* CIC, exactly?

Community Investment Corporation (CIC) has been providing financing opportunities to small businesses for nearly 50 years. ️We are not a bank. We are a non-profit, economic development lender with a mission to help grow existing businesses and encourage new ones to start up. We do this by lending money, sometimes in partnership with banks and sometimes independently.

Our loans are part of the U.S. Small Business Administration program, and because of this we can offer not only financing for small businesses, but consulting support to business owners so they have a greater chance of long-term success.

To learn more, visit our website: http://ciclending.com. We offer real help from real people who have a passion for small business.

Contact Us - Community Investment Corporation We welcome your inquiries! Please fill out and submit this form. One of our lending specialists will get back to you shortly.

Women in business, mark your calendars - March 28-30th.

The U.S. Small Business Administration is hosting a virtual summit in honor of Women's History Month. This is a free online event that supports your efforts to compete in an increasingly challenging marketplace.

Women's Business Summit Women's Business Summit

Our applause this week goes to JM Insurance Services of , for using a CIC microloan to support their company growth.

JM's founder, Jennifer McEwen has 20+ years in the industry, and decided a year ago that it was time to launch her own agency. Her success in one year's time has paved the way for smart growth this year, and her choice to leverage the SBA's small but mighty program was a good one!

JM Insurance Services of CT | Commercial Insurance | Jennifer McEwen We help to eliminate gaps in your coverage with commercial insurance that actually protects your business. Get a complimentary consultation.

Did you know we have a quick, low-stress loan program for small business owners? It's called the MicroNOW loan, and it typically closes in 2 weeks. And no, it's not a scam; the current rate is quite affordable. To learn more, visit our website: https://ciclending.com/micronow-loan/

MicroNOW Loans - Community Investment Corporation Up to $15,000 Small, Fast, and Affordable MicroNOW is a fast and affordable program that helps small business owners meet the demands of their businesses …

One of the first steps toward the successful launch of any small business is getting your financials in order. That usually starts with a Balance Sheet.

Something you will hear often from our lending team, especially for entrepreneurs interested in our Microloan program, is to "borrow money before you need it." The best way to know how much you will need and when, is to start with a Balance Sheet.

https://www.score.org/resource/balance-sheet-template

Balance Sheet Template Download this balance sheet, one of the most important financial documents every business owner needs to understand.

Celebrate Black History Month by supporting small, black-owned businesses! The number of Black/African American-owned employer firms and businesses are rising, but we can do more, and it starts with knowledge.

Visit https://www.score.org/resources-black-entrepreneurs for information and resources that can help minority-owned business. You can also contact any of CIC's lending specialists to discuss SBA loan programs.

Resources for Black Entrepreneurs If you're a black entrepreneur, these resources are for you.

CIC's decades of experience in SBA lending allows us to share our expertise with lending partners. We recently spent time with the team at Webster Bank, sharing key updates about the SBA's loan programs, and answering questions so bankers have the knowledge to offer more options to their clients.

Congrats to Julia Broome, who's KIN Southern Table and Bar just keeps bringing it to Providence!

Restaurant brings more flavor to Providence with soul food It is Black History Month, and we are spotlighting community members making waves in the Ocean State. The pandemic has created challenges for restaurants, and some did not survive, but a Providence woman saw an opportunity to bring southern hospitality to this northern city. Julia Broome opened Kin....

FYI ... The RI Rebounds Small Business Grant Program provides direct financial assistance to Rhode Island's small businesses that have suffered financially due to the COVID-19 pandemic. Grants are available for either $2,500 or $5,000.

The application period will be open for two weeks. To learn more, follow the link.

Rhode Island Rebounds | Rhode Island Commerce Rhode Island Rebounds Program information and resources are available now. Click here to view them.

Many thanks to Matthew Mihalcik at Newtown Savings Bank for connecting us with Fiat Islami, owner of Papa Al's Pizza in Newtown, . Fiat was just approved for our unique, MicroNOW loan, to be used for working capital for this delightful, dine-in or takeout restaurant.

In a hiring environment that is as strange as this pandemic, keeping an eye on trends in Human Resources is essential for the small business owner's ability to remain competitive.

Why requiring a résumé is ruining your chance at finding a good hire during the pandemic Your most savvy job hunters may not include newly developed soft skills or evidence of “micro-learning” on the typical one-pager of work experience.

Congratulations to Leah Fleeting of Creative Hearts Learning Academy for her recent purchase of a building on Tobey Road in Bloomfield, ! The new facility will allow Leah to expand her daycare business to meet the growing demand for quality childcare in the area.

Leah left her corporate job to start Creative Hearts with a microloan in 2018. Through a partnership with Connecticut Economic Development Fund (CEDF), another economic development lender in CT, and money from the CIC Cares Act Revolving Loan Fund, our lending team tapped into our own creativity to provide just the right financing for Leah's goals. It was a joy to work with Leah. The entire team at CIC is thrilled for her growth and continued success!

To learn more about CIC's Microloan program, visit our website: http://ciclending.com.

The January Loan Program rates are in.

The 504 loan is one of the smartest financing tools available to business owners today. Not only are the rates affordable, but there is now more flexibility than ever.

To learn more about how this business loan can help you achieve your goals, visit our website: https://ciclending.com.

January's SBA 504 rates are here. Rates have inched up some, so take note that now would be a good time to contact one of our loan officers about your business growth plans!

Let's not overlook one of the most impactful SBA lending programs available today, the SBA microloan.

These entry-level loans are ideal for start-up businesses as well as those having difficulty getting financing through a traditional bank. Since are funded by the U.S. Small Business
Administration, they are a powerful economic development resource for the small business community. And, they come with consulting support for the life of the loan, helping business owners make the right decisions for their long-term success.

To learn more about CIC's Microloan program, visit our website:
https://ciclending.com/microloans/

If you're a real estate professional and are curious about how an economic development company like CIC can help your business, tune in to WATR radio this WEDNESDAY, JAN 5th at 1:15 pm.

CIC Loan Officer, Richard Evans, will be joining host, Tom Hill, to discuss CIC's programs, and how our company mission supports the efforts of commercial real estate professionals throughout . The show airs on FM 97.7 and AM 1320 out of Waterbury.

If you have questions, you can call in to the live show at: (203) 757-1320, or stream the show at WATR.com (click on the "Listen Live" button).

Wishing you a happy, healthy, and safe holiday season.

(and a little 😊)

Last week, we closed a $6.45 million dollar project with Vinny DiGilio of Newtown Savings Bank for the purchase of the Best Western hotel in . Located at 100 King’s Highway Cutoff in , the hotel has long been a fixture in the community, and a frequented stopover for travelers who want convenient access to comfortable accommodations right off I-95.

Mahendra Patel, the majority owner in the purchase, brings a history of successful hotel management to the facility, ensuring consistent job opportunities and the long term success of the hotel.

The SBA's 504 loan program is ideal for large real estate projects like this one, but having a team with the expertise to bring the project from concept to closing is the key to success.

Community Investment Corporation CIC is an economic development company offering loans, financial expertise, and professional guidance to small businesses.

Did You Know?

SBA 504 loans are available only through Certified Development Companies (CDCs). These companies are regulated and certified through the U.S. Small Business Administration. CDCs typically partner with banks to fully fund a 504 loan for borrowers.

A 504 loan can be used to purchase major fixed assets, or to improve land, streets, utilities, parking lots, existing facilities, and even landscaping. And while the concept of a 504 loan seems simple on the surface, every project is unique, which means it takes a team with a lot of insight to best leverage this financing option for business owners.

CIC has been helping businesses fund their projects with the 504 program for over 35 years. Let our in-depth knowledge lead you through your next phase of growth.

To learn more, go to: https://ciclending.com/sba-504-loans/

Nice writeup for Lucky Enough Drink & Eat in Rhode Island Monthly. This was a fun project for us, and a very deserving team of entrepreneurs!

Lucky Enough is a New Beer-and-Shot Bar in Providence - Rhode Island Monthly Coined the “oldest new bar in Providence” by the co-owners – renowned bartender Vito Lantz and restaurant industry veteran and former wine and spirits distributor Art Chamberland – Lucky Enough is located in a brand new building, but everything inside of the spot tells a tale of another time...

The SBA Award Results are In!

# 1 Community Advantage Lender - Connecticut
# 1 Microlender - Rhode Island

CIC is proud to announce that we are the recipient of two hard-earned awards in Community Lending for 2021.

So Much More Than 504 - Community Investment Corporation The 2021 SBA Award Results are In! #1 Community Advantage Lender in Connecticut #1 Microlender in Rhode Island CIC is proud to announce that we’re …

CIC Company News!

CIC Welcomes New Loan Officer - Community Investment Corporation Community Investment Corporation is pleased to welcome Todd Modica as VP/Loan Officer. Todd joined us in November 2021 as Vice President, Loan Officer. Previously, he …

The SBA's Community Advantage loan program is still rather new in the world of economic development, but it is proving to be a very powerful lending option for borrowers who need up to $250,000.

It is a true pleasure to see one of our clients launch a business with Community Advantage. Somewhere Over the Spectrum is a unique autism services center that used CA funds to start up.

The business founders have many years of experience providing services to children and families with autism. Their approach is holistic, professional, and flexible. We wish them the very best, but after working closely with them on this project, we're sure their business will be an asset to their clients and to the community.

https://www.somewhereoverct.com/

Autism Services | Somewhere Over the Spectrum Somewhere Over the Spectrum is a holistic center that provides intensive therapeutic ABA & Occupational Therapy programming services to children with Autism. We utilize a variety of different methodologies, practices, and foundations to create comprehensive programming for each child.