HUNTSVILLE — Neighborhood Concepts Inc. gathered community partners, borrowers and supporters Monday to celebrate a major boost for small businesses in North Alabama as the Regions Foundation announced a $150,000 grant to support the nonprofit’s NCI Loan Fund.
The investment will expand access to capital for entrepreneurs who are not yet positioned for traditional bank financing but are ready to start, grow or sustain their businesses.
“As we are approaching the holidays, we wanted to gather with gratitude for all the folks who contribute to our work to strengthen communities through the advancement of affordable housing and economic opportunity,” said Mary Ellen Judah, CEO and executive director of Neighborhood Concepts. “In particular, we are here today to recognize the work that is done to provide access to capital to small businesses.”
Judah noted the NCI Loan Fund offers loans up to $350,000 for working capital, equipment, inventory and, in many cases, real estate.
“We have a really diverse group of borrowers,” she said. “Primarily what we are here to do is to complement the economic ecosystem by providing access to capital to businesses that just need a little help.”
Regions Bank and the Regions Foundation have been among NCI’s longest and strongest partners, Judah said, supporting the organization “since the loan fund opened.”
Sean Kelly, market executive for Regions Bank, said the investment reflects Regions commitment to ensuring the region’s rapid growth is matched by opportunity for local entrepreneurs.
“This market is growing really fast, and we want to ensure that growth includes strong local businesses that reflect the creativity of our community,” Kelly said. “Since 2015, the NCI Loan Fund has supported over 220 businesses and deployed over $17 million in capital. This year alone, 25 businesses have already received loans.
“These businesses are not just surviving, they are thriving.”
On behalf of the Regions Foundation, Kelly announced the $150,000 grant to support lending and technical assistance for small businesses across Huntsville and surrounding counties.
“In my mind, it is not just about the dollars,” he said. “It is about the dreams and the jobs that are created and making Huntsville a stronger place to live.”
For entrepreneurs such as Big Papa Gyro owner Raul Piers, the loan fund has been transformative.
With a college degree in business and a background in restaurants and business lending, he said the opportunity to purchase Big Papa Gyro came together at the start of the pandemic and was finalized in December 2020, thanks to combined support from Neighborhood Concepts and TARCOG.
It allowed him to take over the well-loved Huntsville restaurant without disrupting its longtime customer base.
“I just happened to cross paths with him at the right time, and Neighborhood Concepts was really nice to me,” he said. “They helped with the loan and financing for me to step in and buy the place. I have been the owner for five years.
“Would I have been able to continue this business without Neighborhood Concepts? No, that is a solid no.”
Piers said the loan allowed him to continue operations and maintain a business that had already earned a loyal following.
“This is a very successful venture that everyone loves in Huntsville,” he said. “That is how they stepped in and helped with that.”
Marta Mendes Miguel Self, executive director of the Regions Foundation, said the Neighborhood Concepts work aligns with the Regions Foundation’s core pillars: economic and community development, education and workforce readiness, and financial wellness.
“I am extremely impressed with Neighborhood Concepts and the high-caliber small-business borrowers the NCI Loan Fund supports,” she said. “When I reviewed the success stories from past funding, I knew this was the right investment to make this year.”
The NCI Loan Fund, certified as a Community Development Financial Institution in 2015, serves small businesses across North Alabama, pairing capital with technical assistance to help entrepreneurs build, stabilize and grow.
“We are thankful for our longtime community partnership with both the Regions Foundation and Regions Bank,” Judah said. “This new funding will directly translate into more small business support, empowering local entrepreneurs who have great companies that contribute to our strong economy.”
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