FOR IMMEDIATE RELEASE
Catalyst Community Capital to Administer Microenterprise Funding Program
Nonprofit to manage City of Fort Myers COVID-19 Microenterprise Emergency Loan Program
FORT MYERS, Fla. (April 7, 2021) – Catalyst Community Capital, Inc. (Catalyst), a mission based 501 (c)(3) organization and certified Community Development Entity focused on economic and community development, was recently selected by the City of Fort Myers to administer the second round of the city’s COVID-19 Microenterprise Emergency Loan and Technical Assistance Program.
“We are honored to have been selected by the City of Fort Myers to administer the second year of the Loan Program.” said Leigh Scrabis, Director of Community Development for Catalyst Community-Capital, Inc. “Having worked closely with local businesses in the Program’s first year, we have seen first-hand the need for a program like this, especially for small businesses located in the underserved segments of our community.”
Catalyst was the program administrator for the first round of the program as well, providing $243,000 in much needed funding to 30 eligible microenterprises located within the city limits, as well as technical assistance to many other small businesses that did not qualify for the program.
In order to qualify for the program’s second round, which will provide a forgivable loan up to $10,000 for each eligible applicant, businesses must be located within the municipal boundaries of the City of Fort Myers, have been opened a minimum of two years from the date of application, and the business owner must meet HUD’s definition of a low- to moderate-income person. For more information on HUD’s income limits or the program guidelines, please click here.
The program is available on a first-come, first-serve basis, so eligible businesses are encouraged to apply as soon as possible.
About Catalyst Community Capital
Catalyst Community Capital, Inc. is a Tampa-based 501 (c)(3) based with a mission to create jobs and improve the lives of those living in low- and moderate-income communities by providing small businesses, mission-aligned organizations, and affordable housing developers with access to capital and resources, as well as technical assistance. The organization is a CDFI Fund certified Community Development Entity (CDE) and is in the process of getting certified as a Community Development Financial Institution (CDFI).