Charleston, South Carolina [January 25, 2022] – On December 1, 2021, the South Carolina Association for Community Economic Development (SCACED), who provides innovative and sustainable solutions for low-wealth communities across South Carolina, was awarded $2.5 million from the U.S. Small Business Administration's (SBA) Community Navigator Pilot Program. The SBA funded 51 applicants out of a pool of over 500 nationally, as a part of a $100 million initiative to help reduce the barriers that minority, women and veteran-owned entrepreneurs face in accessing services and capital they need to recover, grow, or start a new business. It is estimated that during the height of the pandemic, over 40% of minority businesses closed.
"The profound needs of small business owners are being felt more than ever before. As we enter this phase of recovery, it is imperative that we reach every small business owner, from the disabled veteran entrepreneur in New York City to the rural farmer in Missouri,” said Mark Madrid, Associate Administrator for the Office of Entrepreneurial Development. “The historic Community Navigator Pilot Program catalyzes trusted community partners across America to support the smallest-of-small businesses at this pivotal juncture. These champions’ grassroots efforts will materially advance equity in the support of small businesses by connecting small business owners with programs and resources that they need to start and grow their businesses.”
“Minority and marginalized entrepreneurs have been operating at a disadvantage for decades. Certain economic challenges like market isolation, access to capital and business capacity, has prevented them from achieving maximum success, robing South Carolina of the financial and business impact they could have on the Palmetto State,” said Bernie Mazyck, President and CEO of SCACED. “With this historic $2.5 million grant from the SBA, an impressive amount of support is on its way to disadvantaged entrepreneurs to help pivot them to prosperity,” Mazyck added.
The Community Navigator Pilot Program will help ensure that small, micro, and minority-businesses receive support and access to federal relief programs in response to the impacts of the COVID-19 pandemic that can help them recover, grow, and thrive.
The grant is structured as a “Hub and Spoke” model with SCACED serving as the hub and utilizing a network of 8 community based economic development organizations to assist historically underserved entrepreneurs to better connect to the critical resources needed to launch, pivot, and recover from the impacts of the pandemic. The 8 organizations include Increasing HOPE, SC Small Business Development Centers, Carolina Foothills Credit Union, CLIMB Fund, Community Works, Optus Bank, SC Hispanic Chamber of Commerce, Benedict College Women’s Business Center, and DESA, Inc.
The SBA award will allow SCACED to provide outreach, education, and technical assistance to underserved small businesses, including micro and rural businesses across South Carolina. The funding will also allow SCACED to provide counseling, training, and access to resources to enhance small business growth and invest in systems for increased community engagement and comprehensive services for small business owners.
To learn more about the Community Navigator Pilot Program, please visit www.sba.gov/navigators.
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SCACED is a coalition of over 150 individuals and organizations who support the development of healthy and economically sustainable communities throughout South Carolina. For over 25 years, SCACED and its members have worked collaboratively to build wealth and create economic opportunity for all SC residents including a focus on minority communities and other groups who have been left out of the economic mainstream. SCACED works to build the capacity of local community development organizations and financial institutions to create individual and family wealth as well as grow economically sustainable communities. Throughout its history, SCACED has helped to funnel millions of dollars from regional and national foundations, as well as private capital into under-capitalized communities in South Carolina.