Published: Nov 30, 2023
The Ocala Metro CEP Announces the Creation of the Ocala Metro Catalyst Fund
Ocala, Florida (November 30, 2023) – The Ocala Metro Chamber and Economic Partnership has established a new entity to address the growing need for small business capital and support. This new organization and its loan offerings will complement the already robust entrepreneurial programming and technical assistance offered by the Ocala Metro CEP.
The Ocala Metro Catalyst Fund, Inc. (OMCF) is an independent 501(c)(3) nonprofit organization, whose primary mission is to promote programs and initiatives that increase access to capital and finance to underserved populations in the Ocala Metro and to empower community development through entrepreneurship. The organization has a separate board of directors chaired by Lina Piedrahita, Owner of Professional Realty of Ocala, and comprised of a diverse array of professionals from a variety of industries and backgrounds.
With initial seed money provided by the Ocala Metro CEP Foundation, the Ocala Metro Catalyst Fund will offer nano loans and other financial products in 2024 to help entrepreneurs start and grow their businesses. Nano loans can be used to launch new businesses by covering early-stage expenses such as business formation costs, incorporation fees, licensing and permitting fees, professional services, and other set-up costs relating to business branding and marketing. Applications, including a completed business plan, are required for consideration. Additional requirements may apply.
“The CEP’s mission is to be the catalyst for a prosperous community. The creation of the Ocala Metro Catalyst Fund furthers this mission by increasing access to capital in our targeted communities, ensuring everyone has the opportunities for success,” Kevin Sheilley, CCE, President & CEO of the Ocala Metro Chamber and Economic Partnership.
The Ocala Metro Catalyst Fund is also in the application stage to receive its CDFI Certification by the Department of Treasury. Community Development Financial Institutions – or CDFI’s - are specialized financial institutions dedicated to serving market niches that are often underserved by traditional financial institutions. This includes providing capacity-building loans to low-income individuals in economically distressed communities, with the goal of empowering small business ownership and overall community development.
For more information, visit OcalaCatalyst.com, call 352-629-8051 or email info@ocalacatalyst.com.
About the Ocala Metro Chamber and Economic Partnership
The Ocala Metro Chamber and Economic Partnership (CEP) was created to be a one-stop hub for the community’s business attraction, creation and retention efforts. The CEP’s mission is to be THE catalyst for a prosperous community. The 2020 ACCE National Chamber of the Year, the CEP has directly impacted the announced creation of nearly 11,000 new jobs and more than $1.6 billion in capital investment and is seeking an additional 5,000 jobs and $1 billion in investment by 2027. For more information, visit: OcalaCEP.com.
About the Ocala Metro Catalyst Fund
The Ocala Metro Catalyst Fund is an independent 501(c)(3) nonprofit organization, whose primary mission is to promote programs and initiatives that increase access to capital and finance for underserved populations in the Ocala Metro and to empower community development through entrepreneurship. For more information, visit: OcalaCatalyst.com
About the Ocala Metro Chamber and Economic Partnership Foundation
The Ocala Metro CEP Foundation is a not-for-profit, 501(c)(3) corporation that supports programs and initiatives to grow talent development, promote entrepreneurship, and cultivate leaders in the Ocala Metro. To learn more, visit FoundationCEP.org.
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