Access to Capital
Tuesday, September 21, 2021
The American Rescue Plan Act of 2021 includes a $10 billion reauthorization of the State Small Business Credit Initiative (SSBCI), a Treasury-administered federally funded economic development program intended to increase state capacity to support small business “access to capital” programs. “SSBCI 2.0” will provide the Kentucky Cabinet for Economic Development with at least $82 million of federal funds. Join Cromwell-Schmisseur, a consulting firm that served as technical advisors to the U.S. Treasury for programs funded by SSBCI 1.0, to understand the potential for Kentucky entrepreneurship through SSBCI 2.0.
Last year’s Fund, despite commencing at the onset of the pandemic, received numerous nods from Forbes, Barron’s, and Institutional Asset Manager to name a few. The Fund won the coveted TADS Best in Class Asset Backed Token award since it offers fractional shares to a portfolio of whiskey barrels, providing exposure to the aging of Kentucky whiskey, a hard to access asset class with promising returns. For the 2020 Fund, we purchased 2,700 barrels at less than $1,000 per barrel to be sold in 4 years for an anticipated $3,000 - $5,000 per barrel. If this target is reached, the Fund may attain a 20% target return and estimated 2.3X investor equity multiple. Our research indicates that whiskey is typically resilient in economic downturns, as during the 2007-2009 crisis, year-over-year sales by volume decreased only once by less than 1%. Similarly, despite declines in 2020 due to the Coronavirus Pandemic, the whiskey category is projected to grow revenue every year through 2024.
Thursday, September 23, 2021
Friday, September 24, 2021
So you have the next best idea for a film or other visual art project, but now what? Learn tips for writing and finding grants, what grant makers are looking for, how to find and pitch your project to investors and other financial artist-support streams that exist to help you take your idea from concept to completion.
Presented by 502 Film Collective
Join us as we talk about this little known industry that's entering a golden age due to the pandemic, and how if you've you might be able to access capital form a CDFI when mainstream lenders are saying "not yet."
When it comes to financing a little known act of congress in 1970 called the "CRA act" spawned an entire industry. Banks would be required to provide capital non-profit entities that are known as Community Development Finance Institutions. As banking became more profitable, and more national vs local, the minimum threshold for deal size and what type of deals they were willing to work on continued to grow (along with the requirements for approval). Small businesses were, and still are, the lifeblood of the American economy. Thus, this act established a flow bank capital out to certified non-profit lenders who are focused on loan amounts under $50,000.