亚特兰大新兴市场公司. (AEMI) and the Center for Civic Innovation (CCI) have invested $185,000 into four mission-driven ventures to expand their impact in the communities they serve. These investments represent the fifth round of flexible, zero-percent interest loans through the Civic 影响 Loan Fund, which was established to intentionally invest in Atlanta-based civic ventures.
According to Stephen McRae, president of 亚特兰大新兴市场公司., social entrepreneurship is an essential tool in the fight to make Atlanta a more equitable city. "Not only are these four innovative entrepreneurs scaling their businesses and growing the local economy, but they are directly tackling key social issues in their communities,麦克雷说. “他们的工作正在产生真正的影响, and Atlanta is fortunate to have such passionate and driven leaders fighting for its future.”
Recipients of the AEMI and CCI investment include:
TruDiary 提供公平的, quality prenatal care for all moms – providing Social Determinants of Health (SDOH) services, 比如食品安全, 精神健康支持, 哺乳期服务, 和运输.
帮助青少年(嘿!) equips youth to be leaders through three initiatives – S.T.E.A.M., 领导学院和阅读项目, and devises needs-based programming focused on providing alternatives and options for area youth.
让音乐有价值 is a math curriculum and app taught through playing the piano. Students improve math skills live and online guided by tutors playing the latest popular songs with its STEAM and SEL curriculum and app for 2nd - 12th grade students.
保存研究所 is an innovative alternative to traditional high school that allows students to learn academics through projects, 生活经历, 农业, vocational training and implementing business enterprises.
All four entrepreneurs are recent graduates of CCI’s Civic Innovation Fellowship program, which invests in and amplifies the work of community leaders, entrepreneurs and movement builders who are actively solving inequality in Atlanta. The program has supported the work of over 100 community leaders, who have gone on to inform and inspire real policy change in Atlanta and beyond.
“尽管亚特兰大的不平等日益加剧, 哪个又是全国最差的, these leaders provide tangible programs and services that give us a fighting chance to solve it,罗希特·马尔霍特拉说, founder and executive director of the Center for Civic Innovation. “This program invests in people who don't just talk about community, 他们体现在他们是谁，他们所做的一切. Truth is the return on investment by solving inequality in our city is better than any other single investment this city could make. 它将为几代人带来红利.”
自2017年推出以来, the Civic 影响 Loan Fund has provided more than $900,000 in loans to 20 early-stage businesses focused on community engagement, 艺术, 食品安全, 健康和教育. To date, 80% of those loans have funded Black entrepreneurs, and 80% of all loans have gone to women.
The fund utilizes an innovative character-based underwriting model that leverages AEMI and CCI's resources and relationships with social enterprises, rather than traditional underwriting measures such as credit scores, 抵押品, 或者收入历史. A goal of this fund is to inspire other investors in Atlanta to replicate this model of investing.
The partnership also leverages each organizations' services, as AEMI and Invest Atlanta provide underwriting, loan servicing and back-office support for the fund, 而CCI则负责实践培训, operational support and the application process for the entrepreneurs seeking capital investments.
Additional capital for the 2022 round was provided by the Atlanta office of Local Initiatives Support Corporation (LISC) and JP Morgan Chase’s Entrepreneurs of Color Fund.