A BIG Thank You to The Support Center in Raleigh
Posted: October 05, 2014
The Support Center is committed to creating economic opportunity for all people by providing small business lending, training services and research advocacy.
Ask Jackie Green why, after 20-plus years of working as a Manufacturing Manager, she decided to start her own bakery in 2009, and she’ll cite the layoffs: Three straight times. During her career she would regularly reward her colleagues with cakes and other baked goods so she decided it was safer to rely on those skills than face the uncertainty of continuing a career in manufacturing.
“I started the bakery out of necessity,” said Green, who has two children. But after a year of operating Sweet Cheeks Bakery out of her home, Green needed capital to upgrade the baking equipment in her kitchen. This was a problem:
“Everybody kept saying, well, you got to have $30,000 worth of collateral, you got to have A-plus credit,” she said. Green had neither, having already spent $30,000 of her own money to build up the business to that point. She ended up applying for a loan with The Support Center, a Raleigh-based nonprofit that offers several loan programs to North Carolina businesses that can’t access capital through traditional means.
Just one taste of Sweet Cheeks Red Velvet Cupcakes will prove why The Support Center was excited to help Jackie Green open her first storefront bakery. When a call came in from Ben & Jerry's, things changed, she was getting hundreds of orders. When it came time to expand into her own store, she turned to The Support Center for financing.
Green first received a $40,000 loan from a program the center operates through the Generations Community Credit Union in Durham. Two years later, she got a second $160,000 loan through its small business lending program that allowed her to open a store in Apex.
The Support Center is a certified Community Development Financial Institution, one of several in the state that provides capital to those who can’t access it in traditional ways.
The Support Center wants you to DREAM BIG!