Access to Capital for Entrepreneurs Loan Fund

Access to Capital for Entrepreneurs and Carver State Bank have formed a partnership that may eventually serve as an example to other CDFIs that seek to broaden their geographic footprint.

Investment

  • NMTC Amount: $30,000,000
  • Total Project Cost: $30,000,000

IMPACT

  • 31 FTE jobs

Investor

Project Description

Access to Capital for Entrepreneurs (ACE) and Carver State Bank (Carver State) have formed a partnership that may eventually serve as an example to other CDFIs that seek to broaden their geographic footprint. Both partners brought unique advantages to the table and found compelling synergies through their relationship, culminating in a shared NMTC allocation that allows ACE and Carver State to better pursue their missions of community investment and development.

MAP

Address: 305 Fahm Street, Savannah, GA 31401

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Advanced Industrial Group is a manufacturer of HVAC equipment. The project provided the Company with funds for business acquisition and working capital. This business acquisition will allow the Company to