Event helps Lowcountry small minority businesses receive resources

NORTH CHARLESTON, S.C. (WCSC) - In honor of May being National Small Business Month, a special event Friday night focused on minority businesses in the Lowcountry.

The South Carolina Association for Community Economic Development, along with the Charleston Metro Chamber of Commerce, and the Coastal Community Foundation, hosted the Small Business Resource Mixer, Capital Conversations, at the Opportunity Center.

The event featured several resource providers who assisted entrepreneurs with operations, marketing, and accessing capital.

Cory Wallace, the owner of The Stag Pad, says shared resources are important.

“If you want to go somewhere fast, you can go by yourself. But if you want to go there and stay there and have longevity, you need a team. And it’s all about the ecosystem,” Wallace said.

Organizers introduced a new platform called the Ecosystem Resource Guide. This platform helps entrepreneurs find the specific agencies and resources they need to enhance their businesses.

Chantelle Broughton is the small and minority business development coordinator for the South Carolina Association for Community Economic Development. She says this platform closes the resource gap.

“So, for minority entrepreneurs, especially there’s just a gap and being able to access resources, but also to understand the resources that are available to us,” Broughton said.

New resources for minority entrepreneurs to be unveiled at Small Business Resource Mixer at The Opportunity Center

CHARLESTON, S.C. — To celebrate May 2024 as National Small Business Month, and to bring new resources to small and minority-owned business owners in the Lowcountry, the Lowcountry Minority Business Partnership (LMBP), led by the South Carolina Association for Community Economic Development (SCACED), Charleston Metro Chamber of Commerce (CMCC), and Coastal Community Foundation (CCF), is hosting a Small Business Resource Mixer, “Capital Conversations,” at The Opportunity Center in North Charleston on Friday, May 10.

The event will feature a robust lineup of small business resource providers who assist entrepreneurs with operations, marketing, and accessing capital. Attendees will have the ability to directly connect with these support organizations and receive complimentary services. Resource providers and funders who will be on-site include:

• Charleston Metro Chamber of Commerce

• Berkeley Charleston Dorchester Council of Governments

• Lowcountry Local First

• City of Charleston

• South Carolina Community Loan Fund

• CommunityWorks

• South Carolina Chamber of Commerce

• BlacQuity

• South Carolina Hispanic Chamber of Commerce

• REV Credit Union

• RDM Solutions

• Latina Bazaar Market

• Necessary Actions Consulting

• Real Estate House International

• City of North Charleston

The event will also feature the much-anticipated launch of the Ecosystem Resource Guide, a new platform that helps Lowcountry entrepreneurs navigate the many agencies and resources available to find the specific assistance they need to enhance their business. Attendees will also learn about two new programs available supporting minority entrepreneurs – the Cummins CARE Loan Program and CMCC’s Minority Business Accelerator Program.

Before allowing time for networking and connecting with funders and resource providers, the event program culminates with a success panel of local entrepreneurs discussing their personal testimonies of how the resources available at the event have transformed their business operations.

Statewide Community Economic Development Association Honors Senators Tom Davis and Scott Talley with SCACED 2023 Legislator of the Year Awards

COLUMBIA, S.C. —To recognize years of achievement in the South Carolina General Assembly, with a special commitment to supporting issues at the forefront of the community economic development agenda, the South Carolina Association for Community Economic Development (SCACED) honored Senator Tom Davis of Beaufort and Senator Scott Talley of Spartanburg with their 2023 Legislator of the Year awards at their 2024 Legislative Luncheon last week.

SCACED’s annual Legislator of the Year Award recognizes legislators who support the community economic development industry. Senator Davis (pictured left) was the primary sponsor of legislation that would combat predatory lending in South Carolina, one of SCACED’s 2023 and 2024 policy priorities. Because of his support, the legislation reached the farthest any such legislation had previously moved, successfully passing out of the Labor Commerce and Industry Committee and onto the full Senate floor. Senator Davis also successfully worked to allow revenue from the South Carolina accommodations tax to be used for affordable housing initiatives. Charleston County has already used this new resource to fund affordable housing.

Senator Talley is a longtime supporter of the SC Community Development Tax Credits and has played a pivotal role in growing and uplifting the Spartanburg community. The SC Community Development Tax Credits support Community Development organizations across South Carolina who are providing access to rental and homeownership, small business lending and technical assistance, workforce development, financial literacy, and home preservation. His influence served as a catalyst for several community development projects in the area. Senator Talley announced last year that he will not seek reelection in 2024.

“We’re proud to honor these champions of community economic development, at a time when national issues have griped the attention of our state legislature,” said Bernie Mazyck, President & CEO of SCACED. “Their consistent voice and influence in the General Assembly is refreshing and a reminder that members of the General Assembly are elected to address local issues, most of which impact marginalized citizens of South Carolina.”

SCACED’s 2024 Legislative Luncheon featured over 100 attendees that included members of the association, community leaders, partners, and legislators. The luncheon included a brief program where each Legislator of the Year honoree was recognized and SCACED discussed its 2024 Policy Priorities: To reauthorize the Community Development Tax Credits, advocate for anti-predatory lending legislation, and advance SC Housing’s Housing Trust Fund home repair program.

About SCACED (www.scaced.org)

SCACED is a coalition of over 200 individuals and organizations who support the development of healthy and economically sustainable communities throughout South Carolina. For over 25 years, SCACED and its members have worked collaboratively to build wealth and create economic opportunity for all SC residents including a focus on minority communities and other groups who have been left out of the economic mainstream. Learn more about SCACED here.

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SC Association for Community Economic Development Announces New Chairperson of Board of Directors, New Board Members

CHARLESTON, S.C. — The South Carolina Association of Community Economic Development (SCACED) announced today the election of a new chairperson of the Board of Directors and two new members to the Board.

Ginny Stroud, Community Development Manager at United Bank, will serve as SCACED’s Chairperson of the Board of Directors for the 2024 term year. Stroud previously served as Treasurer of the Board of Directors and has served on the Board since 2015. Before joining United Bank, Stroud served as the Community Development Administrator for the City of Greenville from 2001 to 2020. In her role at United Bank, Ginny manages Community Reinvestment Act (CRA) investments and community development lending while also supporting local CRA strategies in North Carolina and South Carolina markets. 

“Leading SCACED’s Board of Directors is an incredible honor,” said Stroud. “I look forward to working with the Board, SCACED’s staff and its members to continue making an impact in South Carolina’s marginalized communities.”

“SCACED will benefit greatly from Ginny’s leadership of the Board of Directors,” said SCACED President & CEO Bernie Mazyck. “As SCACED celebrates its 30th Anniversary, Ginny’s wealth of experience in community development and familiarity with SCACED will enhance our efforts to increase the quality of life of low-wealth communities.”  

SCACED also elected two new members of the Board of Directors. Tanya Rodriguez-Hodges, Founder & Executive Director of Latino Community Development, and Donna Waites, President of the Sisters of Charity Foundation of South Carolina, will begin their respective three-year terms on the Board this year.

In addition to Stroud, SCACED also announced the election of three new officers to serve in 2024 on its Board of Directors. The new officers include:

• Kim Graham, Community Development Officer, Pinnacle Financial Partners, Vice Chairperson

• Lila Anna Sauls, PhD, President & CEO, Homeless No More, Secretary

• John F. Verreault III, Senior Vice President, Community Development, TD Bank, Treasurer

About SCACED (www.scaced.org)

SCACED is a coalition of over 200 individuals and organizations who support the development of healthy and economically sustainable communities throughout South Carolina. For 30 years, SCACED and its members have worked collaboratively to build wealth and create economic opportunity for all SC residents including a focus on minority communities and other groups who have been left out of the economic mainstream. Learn more about SCACED here.

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SC Association for Community Economic Development announces John Simpkins, President of MDC, as a keynote speaker at 24th Annual Conference

CHARLESTON, S.C. — South Carolina Association for Community Economic Development (SCACED) is proud to announce John Simpkins, President of MDC, as a keynote speaker for its annual conference, Opportunity SC: 2023. The 24th annual conference is the largest comprehensive community development convention and forum in South Carolina.

Simpkins works with the entire MDC team to set strategy, shape their portfolio of work, and engage with partners and the public around the urgent challenge of eliminating disparities to build a South where all people can thrive. Prior to joining MDC in 2020, Simpkins held various leadership roles in efforts to promote equity, access, and inclusion at the state, national, and international level. A constitutional scholar and practicing attorney, Simpkins served in the Obama Administration as deputy general counsel for the White House Office of Management and Budget and general counsel for the U.S. Agency for International Development. After leaving government service, Simpkins served in leadership roles at Prisma Health and the Aspen Global Leadership Network at the Aspen Institute, where he mobilized the more than 3,000 Fellows around the world to respond to the COVID-19 pandemic and its attendant economic effects.

Simpkins received his Bachelor’s of Art degree in government from Harvard College and his Juris Doctor and Masters of Laws degrees in international and comparative law from Duke University School of Law. He is a Senior Lecturer at Duke Law School and is a member of the Liberty Fellowship, a program in the Aspen Global Leadership Network dedicated to moving South Carolina forward.

“I am excited to participate in SCACED’s Opportunity SC: 2023 Conference and look forward to delivering insights on advancing equity in South Carolina,” said Simpkins. “Thank you to SCACED for hosting this important forum of community development leaders from across South Carolina.”

SC Association for Community Economic Development announces Tom Barkin as a keynote speaker at 24th Annual Conference

Reprinted from the Soda City BizWire

COLUMBIA, S.C. — South Carolina Association for Community Economic Development (SCACED) is proud to announce Tom Barkin, President and CEO of the Federal Reserve Bank of Richmond (“Richmond Fed”), as a keynote speaker for its annual conference, Opportunity SC: 2023. The 24th annual conference is the largest comprehensive community development convention and forum in South Carolina.

Barkin is a leader in monetary policy, bank supervision and technology. He serves on the Fed’s chief monetary policy body, the Federal Open Market Committee, and is also responsible for bank supervision and the Federal Reserve’s technology organization. He is “on the ground” continually in the Fed’s Fifth District, which covers South Carolina, North Carolina, Virginia, D.C., West Virginia and Maryland. His engagement in the region has brought real attention to areas facing economic challenges.

Prior to joining the Richmond Fed, Barkin was a senior partner and CFO at McKinsey & Company, a worldwide management consulting firm, where he also oversaw McKinsey’s offices in the southern United States. He earned his bachelor’s, MBA and law degrees from Harvard University.

“I look forward to being a part of Opportunity SC: 2023 and sharing my perspectives on the economy and labor market,” said Barkin. “Thank you to SCACED for hosting this event and for continuing to advance community development in South Carolina.”

SC Community Navigator Pilot Program Creates 700 Jobs, Approves Over $20 Million in Small Business Funding in 2022

Columbia Regional Business Report

COLUMBIA, S.C. - In just one year of operation, SC Community Navigator Pilot Program (SCCNPP), powered through the U.S. Small Business Administration (SBA), South Carolina Association for Community Economic Development (SCACED), and eight partner organizations across South Carolina, has created over 700 jobs, provided over 1,870 hours of counseling to South Carolina entrepreneurs, and approved over $20 million in small business funding.

The SC Community Navigator Pilot Program is a partnership between the U.S. Small Business Administration (SBA), SCACED, and eight partner organizations in South Carolina known as “spokes.” The program was launched in early 2022 with a $2.5 million grant from the SBA to SCACED, who serves are the “hub” administrative organization in South Carolina, to deploy the funding among eight partner organizations called “spokes” who provide small business resource support services.

In its first year of operation, the SC Community Navigator Pilot Program has seen incredible success, including:

• $20,557,707 in approved loans

• 1,870 hours of counseling provided

• 717 jobs created and retained

• 257 clients received training

• 102 total training hours

• 75 clients received loan or grant funding

Acting Comptroller of the Currency Michael Hsu Tours Lowcountry to Discuss Community Reinvestment Opportunities, Needs

Charleston Regional Business Journal - BizWire

CHARLESTON, S.C. — Acting Comptroller of the Currency, Michael Hsu, today visited rural communities of the South Carolina Lowcountry as well as North Charleston to meet with community stakeholders and local businesses to discuss community reinvestment needs and opportunities. President & CEO of the South Carolina Association for Community Economic Development, Bernie Mazyck, led the Acting Comptroller on a tour of Lowcountry to learn about successful examples of community reinvestment and encourage more lending, investment, and banking services in local businesses and nonprofits.

The community tour included stops at Boogie’s BBQ restaurant in Hollywood and Sea Island Comprehensive Health Care Cooperative in Johns Island. The tour also included a visit to an artisan beverage company, Estuary Beans and Barley, on Johns Island, founded and led by Army veteran and local entrepreneur and nonprofit leader Scott Harrison. The tour concluded with a lunch and roundtable bringing together over 40 bankers, community leaders, business owners, and government officials to discuss the reinvestment and banking services needs of the community.

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WCBD News 2
Michael Hsu, who serves as the Acting Comptroller of Currency, visited several locations throughout Charleston County Friday, where he spoke with local administrators and business owners about financial needs in the Lowcountry.

“To come here and to really talk to folks directly,” Hsu said, “makes a really, really big difference. That’s really, really impactful.”

Click here to view full article. 

The Post & Courier
On his first trip to Charleston, Hsu said it was important to leave Washington, D.C., to get out in the field and hear on-the-ground challenges and how his agency can help.

“There is a lesser degree of (financial) security in rural areas,” Hsu said. “Anytime there is change, there are also some distinct opportunities. How do you preserve the character of the rural area and how do you make it equitable? Access to credit makes a big difference.”
Click here to view full article. 

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