Champion Community Investments was recently recognized as a Star Micro Lender by the Entrepreneurship and Business Development Center at Southern Illinois University Carbondale. The award was given in recognition of the low interest lending support given by CCI to southern Illinois microentrepreneurs. During the past year, CCI has lent over $475,000 to new and existing microenterprises in a 12-county area of southern Illinois. The non-profit corporation has been able to partner with area banks to develop affordable financial packages that allow qualified local businesses to flourish and create new and retain existing jobs.
In partnership with SIUC’s Entrepreneurship and Business Development Center staff, CCI works with businesses to provide low interest loans that can be used to purchase new and used equipment, acquire inventory and commodities, purchase real estate, and other uses. The SIUC staff has successfully provided badly needed technical assistance to entrepreneurs seeking CCI loans. Funding for the loans comes from loans to CCI from the United States Department of Agriculture.
Allan Patton, the vice-president of the Board of Directors of Champion Community Investments, accepted the award on behalf of the Board during a June 20 Bankers Recognition breakfast at the Dunn-Richmond Economic Development Center on the SIUC campus.
Rex Duncan, president of the Board of Directors, said he is very proud of CCI. “CCI has no paid staff, just a bunch of volunteers who see things that need done and go for it. Through the hard work of a lot of dedicated people this organization has grown and found important ways to contribute to the economic and social growth of the region,” he said. “I’m immensely proud of CCI, the board members, our friends with USDA Rural Development, and all of our partners who make this great work possible.”
CCI primarily manages two low-interest commercial loan programs. One, the Intermediary Relending Program, or IRP, is available to qualifying businesses in Jackson, Perry, Williamson, Franklin, and Jefferson Counties. The Rural Microentreprenuer Assistance Program, or RMAP, is available in those same five counties as well as White, Gallatin, Saline, Pope, Hardin, Randolph, and Hamilton Counties.
Champion Community Investments is the d/b/a for Southern Illinois Coal Belt Champion Community, Inc., a 501(c)(3) not-for-profit corporation. For more information about Champion Community Investments loan programming, contact Rex Duncan at (618) 453-1268.
