New CDFI Coalition Member: ICA

Small Business Week Spotlight

Last month, we highlighted Kamala Harris’ visit to Red Door Catering in Oakland to see for herself how CDFIs are supporting small businesses.

In our previous post, we mentioned that Accion Opportunity Fund provided financing to Red Door, but what we didn’t realize at the time is that that company also received significant support from another CDFI: new CDFI Coalition member:, Oakland-based ICA. In fact, Red Door’s founder, Reign Free, was a graduate of ICA’s Accelerator program.

Speaking in front of the group, The Red Door’s Reign Free shared her experiences building a successful catering business from the ground up, and talked about the support she has received from ICA and Accion Opportunity Fund. She also touched on the challenges and opportunities posed by the COVID-19 crisis over the last year.

Vice President Harris specifically chose to hold the listening session at the Red Door’s West Oakland headquarters to recognize the many ways in which CDFIs support small businesses. Reign is a graduate of the Accelerator at ICA, having worked with us since 2012, and she is a recipient of loans from Accion Opportunity Fund.

Source: https://www.ica.fund/news/allison-kelly-meets-with-vice-president-kamala-harris-in-oakland

ICA’s Accelerator program is a great example of how CDFIs offer more than financial resources – they provide programmatic assistance through business incubators, technical assistance programs, training, mentorship, and education tailored to the unique needs of the markets they serve.

The Accelerator provides coaching, connections, and access to capital to help entrepreneurs scale businesses, build a great team, and get ready for investment. Their 16-week business accelerator program helps small businesses and entrepreneurs gain the knowledge, mentorship, and community they need to build the business their businesses and pursue their vision.

Learn more about ICA’s Accelerator: