Resources for Inner City CEOs
Capital, know-how and the tools to succeed
- Inner City 100 Program
- Inner City Capital Connections
- 10,000 Small Businesses
- Executive Insights and Business Tools
- Links to Online Resources
Apply for growth capital.
Inner City Capital Connections helps prepare your business to compete for capital and introduces you to potential investors.
REQUIREMENTS:
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Independent, for-profit corporation, partnership or proprietorship
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Inner city location – headquarters or 51%+ of physical operations in economically distressed urban areas of the U.S.
- Revenues of $2 million or more in 2010
QUESTIONS:
For more information about ICCC, contact Hyacinth Vassell at hvassell@icic.org or 617-297-3120.
Access to Capital
Inner city businesses attract approximately 20 to 50% less growth capital than average businesses. This financing gap significantly limits the ability of inner city businesses to grow and create jobs in their communities.
Inner City Capital Connections (ICCC) is a free program that is sponsored by Bank of America and designed to stimulate the flow of capital to inner city businesses. ICIC is the country’s only program that educates investment-ready companies about equity and other sources of capital and matches them with investors to grow their businesses and create jobs. The program helps growing inner city businesses:
- Discover the full range of financial options ranging from debt to angel, private equity and alternative funding
- Obtain one-on-one feedback from seasoned investors and consultants
- Optimize your business growth strategy to attract potential investors
- Build and strengthen relationships with investors
Helping you tell your story. Selected companies participate in a free one-day coaching session on company valuation and pitching to investors. ICCC’s coaches also explain the full spectrum of financial options available and the importance of building business capacity throughout the organization to prepare for capital infusion.
Following this preparation, ICCC introduces inner city companies to private equity investors in formal “speed dating” encounters and other sessions suited for debt, angel and alternative funding.
What to expect. ICCC companies have raised $406 million in capital since 2005. Of those who do not attract funding at ICIC's own events, the majority benefit from the training and pitching experience: Over 90% of ICCC participants have attracted financing within two years. Download the ICCC Impact Report.
VIEW A CASE HISTORY
Coalescence, LLC
A Story Worth $5 Million
Background:
This 2005 Columbus, OH, maker of nutritional food seasonings has had rapid growth, but needs to scale up even more to serve giants like Kraft, Kellogg's and Tyson. Potential competitor to McCormick. The challenge: Raise $5 million to fuel continued growth in a slow economy.
ICIC’s Role:
Inner City Capital Connections helps prepare co-founders Angela Cauley and Ian Blount to tell the company’s story to capital providers…and arranges the meetings.
Results:
Coalesence wins $500,000 in equity financing from a local investor and expands its bank credit line from $1.75 million to $4 million.
Case Quote:
“ICIC training sessions helped us build a better argument for investment. Our presentation had a true picture of our company and an exit strategy that was clear and concise.”
- Angela Cauley and Ian Blount, Co-Founders, Coalescence LLC
Mainstreet Technologies
Finding a Better Answer
Background:
Launched in a basement, this Baltimore IT professional services firm went on to win multi-year, multi million-dollar contracts with major health insurers and the U.S. government.
The Challenge:
Founders Rufus and Ken Davis hoped to raise equity capital to extend Mainstreet's growth curve.
ICIC's Role:
Inner City Capital Connections training and conversations with investors showed that Mainstreet's financial performance justified a significant line of credit.
Result:
The brothers are meeting their growth capital needs through a continuing partnership with a local bank - rather than giving up a piece of their increasingly successful company.
Case Quote:
"We want advice from people who are no-nonsense and intelligent; and you have a room full of them at the ICCC."
- Ken David, Co-Founder and President Mainstreet Technologies
For more additional resources and information about accessing capital for your business, visit our Links to Online Resources section.
For more information about ICCC, contact Hyacinth Vassell at hvassell@icic.org or 617-297-3120.
Bank of America
ICCC Program Sponsor
Inner City Capital Connections is sponsored by Bank of America, but they’re not the only investor at the table. Bank of America invites a variety of capital providers to join them at ICCC. Since 2005, 150 different investor firms have participated, representing private equity, venture capital, angel networks, mezzanine and debt financing providers.
ICCC participant Wayne Davis on Access to Capital
Finding the right investment capital can be a difficult journey, but ICIC helped grease the wheels.
Mark Leininger,
CEO
Helios Coatings
I attend ICCC to find the investors to expand my rolodex and network.
Charles Paul,
President and CEO
Worldwise Education
Our internal associate base gets value out of this. People want to work for an institution that does positive social things. Every time we do an event with ICIC and we put it on our internal website, I get twenty to twenty-five calls asking, How can I be helpful?
Edward Powers,
Managing Director
Bank of America Capital Access Funds
