We are pleased to have partnered with Alchemist CDC and Sierra Business Council in obtaining grants through the Federal Home Loan Bank (FHLB)’s Access to Housing and Economic Assistance for Development (AHEAD) program. Through our membership with the FHLB, NCCLF was able to sponsor both organizations.
Alchemist CDC was awarded a $45,000 grant to support Alchemy Kitchen, a food business incubator focusing on low-income food entrepreneurs. The Sacramento-based organization will offer clients use of commercial kitchen space in South Sacramento and will support entrepreneurs through the development of a comprehensive business development program. This grant will pay for consultants to develop the business training program and design the commercial kitchen.
Located in Truckee, Sierra Business Council increases community vitality, environmental resiliency, economic prosperity, and social equity in the Sierra Nevada region of Northern California. The organization was awarded $40,000 to support the region’s only Small Business Development Center, which is also managed by the Business Council, to offer affordable microenterprise loans in amounts between $5,000 and $50,000, with terms up to 6 years. With this support, local entrepreneurs will have access to low-cost capital for operation or expansion support.