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The city of Hendersonville has launched a new initiative to help start, support and nurture new businesses on Main Street and in the Historic Seventh Avenue District.
Funded by a grant from the Dogwood Health Trust, the Downtown Hendersonville Opportunity Fund aims to support entrepreneurs at various stages of business — from idea to growth — through training, technical assistance and access to loan capital.
The Opportunity Fund is a partnership among the city's Downtown Program, Mountain BizWorks, Black Wall Street AVL and the Small Business Center at Blue Ridge Community College and includes support for entrepreneurs interested in launching, sustaining and growing downtown Hendersonville businesses. Training and program offerings are available to anyone, including current businesses already operating in downtown Hendersonville.
“Our goal in the program is to highlight training and support that already exists in the region, and further connect to loan capital businesses need in order to start or grow,” said Jamie Carpenter, the city's downtown manager. “We want this program to support the entire process for our local businesses, from creating or updating a solid business model that will thrive in our downtown, to ensuring they have the access to financing that is difficult to obtain for any entrepreneur, especially those without a large down payment or other equity to use as collateral.”
The program includes a focused outreach to low- to moderate-income residents, women and people of color, paying close attention to the Seventh Avenue District, historically a hub of Black-owned businesses.
To help connect with historically underutilized businesses, program partners Black Wall Street AVL will
provide an important connector between resources available. BWS AVL utilizes a ‘family’ model for new entrepreneurs of color to increase accountability and camaraderie among new business owners.
"We aim to draw attention to the history of the 7th Avenue District and identify opportunities to infuse some of the entrepreneurial spirit into the present day and have highlighted that through the partnerships in this program,” said Bruce Waller, executive director of Black Wall Street AVL.
Known as Brooklyn, the community was located in and around Seventh Avenue and included homes, civic organizations and many Black-owned businesses. In the 1960s, urban renewal projects displaced residents while transforming the the neighborhood into what is known today as Green Meadows.
The program provides businesses and entrepreneurs of all stages a roadmap to success with training and technical assistance, mentorship, and guidance. The centerpoint of the Downtown Opportunity Fund is a small business loan program in partnership with Mountain BizWorks to provide loan capital for businesses that are not otherwise eligible for traditional bank financing.
In addition to Mountain BizWorks, program partners Black Wall Street and Blue Ridge Community College Small Business Center will provide training, technical assistance and mentorship to support entrepreneurs to find success.
The following classes and training sessions are scheduled:
Go here to register. For more information about the Downtown Hendersonville Opportunity Fund, please visit hvlopp.org.