Charlotte Business INClusion. SCORE Presentation March 30, 2015

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1 Charlotte Business INClusion SCORE Presentation March 30, 2015

2 Introduction Charlotte Business INClusion promotes diversity, inclusion, and local business opportunities for Minority, Women, Small Business Enterprises (MWSBEs) headquartered in the Charlotte region.

3 Background

4 Charlotte Business INClusion Strategic Pillars Economic Development: Customer Service: Internal Operational Efficiency: Organizational Capacity: Economic Development: Increase MWSBE Spend Engage Stakeholders and Ensure Access to Opportunities Advance infrastructure and processes Enhance Organizational Commitment Grow MWSBE Economic Impact 2

5 What is an MWSBE? MBE: A business enterprise in which at least 51% is owned, operated, and controlled by one or more members of a minority race. WBE: A business enterprise in which at least 51% is owned, operated, and controlled by one or more women. SBE: A business enterprise in which at least 51% is owned, operated, and controlled by one or more individuals who meet the City of Charlotte s small business eligibility criteria.

6 Why is MWSBE Certification Important? In April 2013 Charlotte City Council adopted the Charlotte Business INClusion Policy to: Promote economic opportunities for MWSBEs in City contracting and procurement Facilitate business growth in the Charlotte region Promote competition on City contracts

7 MWSBE Certification Benefits Certification is free! Certified firms are listed in the City s vendor database Increased visibility and notification of City contracting and subcontracting opportunities Free workshops, seminars, and networking events Access to working capital loans

8 SBE Eligibility Requirements Qualifying person(s) must own 51% of the business Personal net worth not to exceed $750,000 (Excludes business ownership, retirement accounts, and eligible equity in residential home) Headquartered in Charlotte Combined Statistical Area (CSA) Provide a commercially useful function to the City 1/4 SBA size standards In business for one year

9 Are MWSBE firms assured of getting a contract with the City? No guarantees However, MWSBE certification does provide greater exposure for your firm to the business community. It is important to develop a marketing plan and market your business to City departments that buy what you sell.

10 How do I find out about City contracting opportunities? Access and search all open City solicitations by Department at: North Carolina Interactive Purchasing System

11 Purpose Charlotte Community Capital Fund An innovative public/private fund established in 2003 to assist small businesses with gaining access to capital otherwise unavailable through conventional lending. The City partnered with various other major corporations and foundations The Fund provides a 85% loan guarantee for business loans made by Self-Help and The Support Center, non-profit community development lenders in Charlotte and the fund s administrator and marketing, respectively. The fund serves small businesses in six (6) counties to include Cabarrus and Union counties.

12 Investors Investor Amount City of Charlotte $500,000 Wells Fargo Bank (formerly Wachovia Corporation $275,000 Bank of America $250,000 John S. and James L. Knight Foundation $250,000 Foundation for the Carolinas $150,000 Branch Bank & Trust $100,000 Fifth Third Bank (formerly First Charter $99,480 PNC Bank (formerly RBC Centura $100,000 Wells Fargo Bank (formerly SouthTrust Bank $100,000 Piedmont Natural Gas $ 50,000 Time Warner $ 40,000 Park Sterling Bank $ 40,000 First Citizens Bank $ 25,000 TOTAL $1,979,480

13 Business Equity Loan Program Purpose Gap financing loan program available in Charlotte to stimulate small business investment and create and retain jobs. Participates with banks in providing term loans to small businesses where the City loan amount matches the bank loan 1:1. Based on location and type of Business 25%-40% of total projects costs can be provided by City Maximum Loan Amount:$100,000 Manufacturing firms:$150,000

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15 Small Business Mobilization Program PURPOSE To assist certified Small Business Enterprises (SBEs) in acquiring short-term, low rate financing to support their temporary working capital needs as they participate in City projects, increasing utilization of Certified SBEs in City contracting. GOALS To provide, increase and strengthen SBE firms access to capital To build capacity with certified SBE firms access to capital To create and/or retain jobs for Charlotte-Mecklenburg residents ELIGIBILITY Located in Mecklenburg County City of Charlotte Certified SBE for a minimum of two (2) consecutive years Private, for-profit Engaged in contracting on eligible municipal contracts and demonstrating a need for working capital for account receivables, acquisition of inventory and/or materials For additional information, call Additional program requirements or restrictions may apply.

16 Q & A