NC12 Stories and Data

We are a Native CDFI serving the Eastern Band of Cherokee Indians in western NC. Our work here is critical to supporting new business creation, small business growth, job creation and retention, and housing security for tribal members who have historically endured economic hardship and lack of adequate banking and capital resources. Not to be lumped in with the myriad ways government-funded projects and organizations waste tax dollars, our industry has proven itself a superior investment for the U.S. taxpayers and is one our elected officials should be proud to support.

Small businesses are the backbone of Main Streets across America, creating jobs, driving economic growth, and keeping communities strong. Yet, many small business owners-especially in rural areas and underserved markets- struggle to access the financing they need to start and grow. Traditional banks often overlook smaller-dollar loans, but CDFIs step in to fill that gap, providing the sub-$100K loans that small businesses rely on for working capital, equipment, and expansion. At LoanWell, we work with CDFIs to help them originate and deploy more small business loans efficiently, ensuring that capital reaches the local entrepreneurs who keep storefronts open, job opportunities growing, and communities thriving. More than 90% of CDFI small business loans are under $100K, making them one of the few reliable sources of funding for businesses that are too small for traditional banks but too big to rely on personal savings alone. The CDFI Fund is critical to making this lending possible, ensuring that CDFIs have the resources to meet the demand for responsible, small-dollar financing.

CDFIs are essential for the economic vitality of rural communities like the ones we serve in Western North Carolina. The CDFI Fund represents an extremely effective and high-return investment.