EXPANDING ACCESS

Catalyst Fund

Helping to level the playing field for historically under-represented entrepreneurs. The Catalyst Fund makes it easier for entrepreneurs to get their small businesses off the ground.

Complete Loan Inquiry Form
Learn more
En español

The Catalyst Fund breaks down the barriers that keep early-stage entrepreneurs from getting funded.

Every person—no matter where they’re from—deserves the chance to get ahead. That’s why, with an understanding of your strengths, successes, and goals, we’re providing access to the tools you need. So you can take the next big leap.

We are working to ensure that more and more entrepreneurs have access to the training, tools, and skills they need to successfully run their businesses.

Find additional details from typical terms to our integrated business advisory services below.

 

Get Started!

Please email Tiarra Wilkie, Mountain BizWorks’ Catalyst Program Manager, at tiarra@mountainbizworks.org with any issues related to your submission.

 

More than just a loan—a catalyst for your business.

At Mountain BizWorks, we understand that access-to-capital is just one of the vital resources needed to achieve business success. As such, the Catalyst Fund includes a program of tools to help our founders and portfolio companies thrive. Keep scrolling to learn a little more about each tool.

Share via

LinkedIn

Catalyst Fund Tool

Integrated Business Advisory Services

Each Catalyst Fund portfolio company will have access to tailored technical assistance to help expand skills, fill gaps, or get technical advice (accounting,  marketing, etc.)

Loan Details

Catalyst Fund loans are designed to help under-represented entrepreneurs start and grow their business from a place of confidence.  Typical loan terms follow:

  • Borrow up to $100,000.
  • 5% fixed interest rate, with 5–10 year terms.
  • Interest-only payments for the first 6 months.
  • No personal collateral. Loans are secured by business assets only.
  • No minimum credit score. We look at your credit history, and we’ll help you build it.
  • No prepayment penalties.
  • $2,000 in business advisory services included.

 

Who Can Apply

Your business may be a fit if it meets all four of the following criteria:

  1. You’re just getting started.
    Your business has brought in revenue for less than 2 years, or it earns less than $200,000 a year. (Have a side hustle that’s ready to grow? This counts.)
  2. You have limited income or wealth.
    At least one of these has to be true:

    • Your household income is below 80% of the area median income (AMI)
    • Your household net worth is under $100,000, not counting your home
    • Your business is in a census tract where at least 20% of residents live in poverty

    In every case, household income must be under 2x AMI and household net worth under $250,000.

  3. Your business can create good jobs.
    You have a healthy business model that can build real wealth for you, and ideally good jobs for your team.
  4. You’re ready to take part.
    You’ll complete a Catalyst intake, set clear business goals, and use Catalyst support like the Catalyst Cohort or business coaching to reach them. Plus, you’ll join the Catalyst Founder Network and share financial and impact updates along the way.

Also required: a for-profit or social enterprise business based in Western North Carolina, and a business plan or executive summary that shows your model, how you’ll use the funds, and how you’ll repay. Funding depends on availability.

Start Loan Inquiry Form

Please email Tiarra Wilkie, Catalyst Program Manager, at tiarra@mountainbizworks.org with any issues related to your submission.

 

Catalyst Fund Advisory Council

We have been humbled by the interest in the Catalyst Fund and are  fortunate to have the opportunity to harness the exceptional and collaborative network of area leaders who are generously giving of their time to guide this vital work. With this Fund, we hope to amplify work deemed by the Council as an imperative to elevating long-term success and creating equitable and inclusive economic growth for entrepreneurs across the region.

Libby Kyles 
Tzedek Social Justice Fund

 

Beverly Carlton
Olive Hill 

Stephanie Twitty
Eagle Market Streets

Duane Adams
AB Tech Small Business Center

Paula Avery
West Marion Community Forum

Rhonderia Waters
First Citizens Bank

Lori Garcia-McCammon
True Ridge

Brandy Mills
Smallcakes Creamery

 

 

 

Get Started

Let's build on your great ideas and accelerate your business growth.

Are you struggling to get your small business off the ground? We want to help.

Apply for the Catalyst Fund

Newsletter

Stay connected to the local community of entrepreneurs with Mountain BizWorks.

We use our newsletter to keep the community together on all things small business in the WNC region. Learn about events, classes, funding opportunities, and more!