Borrower Story: Prospect Cleaning Service in NYC

Borrower Story: Prospect Cleaning Service in NYC

Borrower Stories, CDFIs, CNote
Community lending - Helping small businesses grow Running a small business is a huge challenge. Even with the best laid business plan and capital to spare, if you want to follow the long road to success you are going to need some help. Be it financial planning or access to skilled employees, a small business’ ability to leverage this help is critical to surviving and growing. We spent time with Prospect Cleaning Service to learn more about their experience working with the Excelsior Growth Fund (EGF), one of CNote’s CDFI partners. (more…)
Read More
Why haven’t I heard of CDFIs before?

Why haven’t I heard of CDFIs before?

CDFIs
CDFIs are a tough acronym to remember. We get it. It stands for Community Development Financial Institutions - yet another mouthful. We think the easiest way to describe them is - lenders for the community. So..say you have a dream of opening up your own business. You have the drive, a great idea, and all you need is to borrow a few bucks to get it going or keep it going. Unfortunately, your options are not so great. Sorry to break the news, but not all lenders are the same and the online lenders you’ve heard of typically charge small businesses 6 to 7x more than large banks to access money. Yup. But wait, this is where CDFIs come in! They provide small businesses fair capital and business coaching. And…
Read More