Charlotte’s small business community is full of potential, but access to affordable capital remains a challenge for many. That’s why the CLT Alliance Foundation launched the Charlotte Small Business Growth Fund, a public/private partnership designed to bridge this gap to support emerging entrepreneurs in the city of Charlotte.

A Record-Setting Capital Initiative

Backed by the City of Charlotte, municipal funding, and key partners including Ally Charitable Foundation, Atrium Health, Bank of America, Truist, and Community-Development Financial Institutions (CDFIs), like BEFCOR and Ascendus, the Fund represents one of the largest non‑pandemic, small‑business‑focused capital efforts in Charlotte’s history.

It marks a major investment in local entrepreneurship, with the goal of putting $40 million into the hands of more than 2,000 businesses over four years.

How It Works for Business Owners

  • Loans range from $1,000 to $250,000
  • Fixed rates between 9%–12%, with 48-month terms
  • Designed for businesses that may not qualify for traditional loans due to credit history or lack of collateral
  • Expert advising through CDFI partners ensures tailored support for each applicant

Why It Matters

Nearly 40% of Charlotte’s small businesses are minority-owned, yet only 14% ever secure conventional startup bank loans. The Growth Fund is actively closing that disparity by offering equitable, attainable financing to underserved entrepreneurs.

Progress So Far

  • $18 million was deployed in Year One, demonstrating strong demand and immediate impact
  • Loans have helped businesses fund equipment, marketing, leases, payroll, utilities and more, unlocking growth that might not have happened otherwise

Real Impact for Real Businesses

From launching new storefronts to expanding service lines, Growth Fund recipients report increased confidence, revenue, and stability. Each loan represents more than funds—it’s validation, mentorship and possibility brought to life.

“I would definitely recommend the Charlotte Small Business Growth Fund for any business owner looking to get to the next level.” — Jasmine Wintons, Owner of The Pretty Lounge & TPLXtensions.

What’s Next

As the Fund continues on track toward its $40 million goal by 2028, the CLT Alliance Foundation remains committed to combining capital with expert technical assistance and ongoing support, ensuring sustainable, successful growth for every participating small business.

Learn More & Get Involved

After one year, the Charlotte Small Business Growth Fund is proving that intentional investment, equity-driven access and collaborative support can turn entrepreneurial challenges into real opportunities. Here’s to another year of momentum—and even more Charlotte businesses reaching their full potential.

Explore program details and eligibility at charlottegrowthfund.org

Questions? Contact Nate Hogan, President of the CLT Alliance Foundation, at nhogan@charlotteregion.com.