PPP Priority for Underserved Communities

January 8, 2021
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The smallest businesses, those from low-income communities, and minority, veteran and woman-owned companies—many of whom may have been shut out of the first round of PPP—should see more help in the latest $284 billion Paycheck Protection Program. New guidance from the SBA puts an emphasis on smaller lenders and borrowers as it attempts to address the concerns around barriers to capital that plagued the first tranche.

Expected to begin the second full week of January, round two of PPP sets aside $105 billion in funds for first-time and smaller borrowers, those in low- and moderate-income communities, and for community and smaller lenders.  Additionally, these smaller community financial institutions, often focused on helping underserved populations join the economic mainstream, will have access to the PPP loan portal days earlier than larger banks.  

This is good news for small businesses, especially those in communities hit hardest by COVID-19 yet missed out in the first PPP funding.  These communities – and the businesses, families and individuals who live and work there – can’t afford to wait. Data show that the first time around, the PPP failed to reach underserved areas, particularly in the critical first few months of the program. Countless small businesses, especially minority-owned companies, were left waiting.  Upwards of 100,000 small businesses closed permanently due to the pandemic. And even as the labor market slowly recovers, almost 11 million Americans are still unemployed.

We know, through our work in these communities and with businesses that have great ideas and talent but little access to capital, that the right resources and support can lead to stabilization and growth. This next round of funding can’t come soon enough for business still struggling to keep the doors open and paychecks flowing.  

As we did in the first round, we have been working hard to ensure that as many small businesses as possible have access to this critical funding.  Our banking partner, First Bank of the Lake, has created an online portal to help businesses secure their place in line when the second PPP opens.  As a small bank and community financial institution, First Bank of the Lake will be able to make PPP loans sooner than large banks, facilitating quicker access for smaller businesses.  

For questions, or to access the online portal, click here.

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Advantage Capital is partnering with Generate to facilitate the adoption of community solar projects in New York.

Advantage Capital Solar Partners Completes Financing With Generate Capital
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Advantage Capital Awarded $60 Million Allocation in New Markets Tax Credit Program

U.S. Treasury program totals more than $3.5 billion to promote economic growth and jobs in distressed communities across the country.

Advantage Capital Awarded $60 Million Allocation in New Markets Tax Credit Program
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Advantage Capital Invests $5 Million in Cady Bag, Supporting Economic Development in Rural Georgia

Advantage Capital today announced a $5 million investment in Pearson-based Cady Bag—a leading producer of polypropylene fabrics and bags—in connection with the Georgia Agribusiness and Rural Jobs Act (GARJA).

Advantage Capital Invests $5 Million in Cady Bag, Supporting Economic Development in Rural Georgia
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Advantage Capital Invests $2 Million in GAXtracts, Bringing New Jobs and Economic Development to Rural Georgia

GAXtracts seeks to expand its current facility and bring new jobs to Watkinsville, highlighting the economic impact of the Georgia Agribusiness and Rural Jobs Act (GARJA).

Advantage Capital Invests $2 Million in GAXtracts, Bringing New Jobs and Economic Development to Rural Georgia
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Advantage Capital hires Erika Williams as Vice President of Talent

Venture capital firm and small business lender Advantage Capital has hired Erika Williams as Vice President of Talent.

Advantage Capital hires Erika Williams as Vice President of Talent
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Advantage Capital Solar Partners Completes Financing with Fund Managed by Greenbacker Capital Management

Advantage Capital continues to provide needed capital for small and mid-sized commercial and utility solar projects.

Advantage Capital Solar Partners Completes Financing with Fund Managed by Greenbacker Capital Management
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Advantage Capital Invests $2.94 Million in Cultiva, Supporting Company Expansion in Las Vegas

Advantage Capital announced a $2.94 million investment in Las Vegas-based Cultiva, LLC. The investment, made in connection with the Nevada New Markets Jobs Act, comes at a time when critical resources are needed to help shore up businesses around the country affected by the COVID-19 crisis.

Advantage Capital Invests $2.94 Million in Cultiva, Supporting Company Expansion in Las Vegas
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Advantage Capital Solar Partners Completes Equity Financing With Delaware River Solar

Operating under New York’s Community Distributed Generation program, the projects together generate enough energy to power the equivalent of 2,200 homes.

Advantage Capital Solar Partners Completes Equity Financing With Delaware River Solar
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Advantage Capital makes Real Leaders 100 Top Impact Companies for second year in a row

Today, Advantage Capital – for the second year in a row – made the Real Leaders 100 Top Impact Companies list. Weighing in at #30 this year, we are in good company among major global brands and impact leaders, such as Patagonia, Chobani, Unilever and Tesla. We are thrilled to make this list again and receive this great recognition.

Advantage Capital makes Real Leaders 100 Top Impact Companies for second year in a row
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Advantage Capital Invests in First Orion, Supporting HQ Expansion and Job Creation in North Little Rock

The First Orion investment, in connection with the New Markets Tax Credit (NMTC) program, supports the company’s growth and promotes local economic development and jobs in North Little Rock.

Advantage Capital Invests in First Orion, Supporting HQ Expansion and Job Creation in North Little Rock
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Advantage Capital Invests $1.75 Million in StruXure, Bringing Jobs and Economic Development to Rural Georgia

StruXure looks to expand its current facility and bring new jobs to Lumpkin County, highlighting the economic impact of the Georgia Agribusiness and Rural Jobs Act (GARJA).

Advantage Capital Invests $1.75 Million in StruXure, Bringing Jobs and Economic Development to Rural Georgia
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

E-Pak Manufacturing Receives Investment From Advantage Capital to Fund New Growth Opportunities

E-Pak Manufacturing, a leader in the steel roll-off container and trailer industry, announced today that the company has closed on a preferred equity investment by Advantage Capital. This new funding, in connection with the Ohio Rural Business Growth Program, allows E-Pak to continue to expand its product lines and grow jobs in rural northeastern Ohio.

E-Pak Manufacturing Receives Investment From Advantage Capital to Fund New Growth Opportunities
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Advantage Capital Invests in Capital City Trucking, Supporting Business and Job Growth in Mississippi

Today, Advantage Capital announced a $3.375 million investment in Richland, Mississippi-based Capital City Trucking. This follows an initial investment earlier in 2019, which allowed the freight company to triple its employee base and pursue significant growth opportunities.

Advantage Capital Invests in Capital City Trucking, Supporting Business and Job Growth in Mississippi
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Advantage Capital Invests in MeltBlown Technologies, Supporting Economic Growth in Rural Georgia

Advantage Capital today announced an investment in MeltBlown Technologies, a leading manufacturer of industrial absorbents. The investment was made through the Georgia Agribusiness and Rural Jobs Act program and supports the company’s anticipated growth while adding over a half-dozen jobs in the near term.

Advantage Capital Invests in MeltBlown Technologies, Supporting Economic Growth in Rural Georgia
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Advantage Capital Expands Executive Leadership Team With the Return of Ryan Brennan, Former COO of OPIC, as Managing Director

Advantage Capital announced today that Ryan Brennan will join the firm as Managing Director. Brennan will lead efforts to foster access to capital and economic development in underserved communities across the country. He will also join the leadership of the firm’s fundraising team and spearhead new initiatives to strengthen and develop internal talent and assets.

Advantage Capital Expands Executive Leadership Team With the Return of Ryan Brennan, Former COO of OPIC, as Managing Director
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Rural Counties Receive Economic Lift with Georgia Program

Through the Georgia Agribusiness and Rural Jobs Act (GARJA), Advantage Capital made an investment in Danimer Scientific, a growing company focused on helping to end global plastic pollution. Danimer’s growth in rural Bainbridge, Georgia, is highlighted in the Summer 2019 issue of Georgia County Government magazine as part of a special focus on rural counties and the economic lift made possible through the GARJA program.

Rural Counties Receive Economic Lift with Georgia Program
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Advantage Capital Invests in Danimer Scientific, Supporting Company’s Growth in Rural Georgia

Advantage Capital today announced a $6.5 million investment in Danimer Scientific, a leading biotechnology company producing biodegradable and compostable polymers used in consumer and industrial products. The investment was made through the GARJA program and supports the company’s anticipated growth as it seeks to boost capacity and significantly increase its workforce at its Bainbridge, GA location over the next few years.

Advantage Capital Invests in Danimer Scientific, Supporting Company’s Growth in Rural Georgia
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Louisiana, look to the past to help secure your future

While other states have followed our lead for 30 years, Louisiana should now wisely learn from their efforts. Policymakers can draw lessons from how incentive programs have evolved in other states, learn from their mistakes and adopt their innovations. That will place us on the cutting edge of new approaches, says Advantage Capital Managing Director Michael Johnson, in the latest City Business article posted February 21.

Louisiana, look to the past to help secure your future
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Opportunity Zones offer new life in long-ignored Louisiana neighborhoods

Ensuring that Opportunity Zones are successful requires thinking through with private and public parties how to protect existing residents and businesses while creating opportunity that’s needed for future growth, says Advantage Capital Vice President Philip Ruppel. Learn more about the Opportunity Zone program and where the real value may come into play, for maximum community impact throughout Louisiana.

Opportunity Zones offer new life in long-ignored Louisiana neighborhoods
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Outside NOLA City Limits: Rural Louisiana Could Use a Kickstart

Louisiana’s rural small businesses need capital to grow and create new opportunities. Without it, thriving rural communities can turn into ghost towns, says Advantage Capital Principal Tony Toups.

Outside NOLA City Limits: Rural Louisiana Could Use a Kickstart
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Incentives Turn New Orleans Into a Tech Boom City

The thing about incentives is that in igniting growth and inspiring entrepreneurs, cities like New Orleans become a magnet for top-tier new talent that fire up new phases of expansion, says Advantage Capital Chief Financial Officer Justin Obletz.

Incentives Turn New Orleans Into a Tech Boom City
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Advantage Capital Selected to the Inaugural Real Leaders 100 Top Impact Companies

We are honored to be selected to the inaugural Real Leaders 100 Top Impact Companies. Read more about us and other RL100 companies that prove business can be a Force for Good.

Advantage Capital Selected to the Inaugural Real Leaders 100 Top Impact Companies
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Advantage Capital Invests in Momentum Solar, Supporting Company’s Explosive Growth and Strengthening the Clean Energy Economy

Advantage Capital today announced a $4.1 million investment in Momentum Solar, a residential solar company offering solar design, engineering and installation services across New Jersey, New York and five other states. The investment, through the Grow NJ program, supports the company’s expansion plans and growth strategy.

Advantage Capital Invests in Momentum Solar, Supporting Company’s Explosive Growth and Strengthening the Clean Energy Economy
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Advantage Capital Invests in Mirac, Preserving Company’s Strong Manufacturing Presence in Rural Ohio

Advantage Capital today announced a $7.55 million investment in Mirac, Inc., a rural Ohio-based electronics assembly and fabrication company with locations in Lynchburg and West Union, that will help keep jobs in rural Ohio.

Advantage Capital Invests in Mirac, Preserving Company’s Strong Manufacturing Presence in Rural Ohio
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Novogradac Journal of Tax Credits Volume 9 Issue 9: NMTC Investment in Operating Businesses Complex, Beneficial

It's not simple to invest NMTCs in operating businesses, but it's impactful. It comes down to permanent, quality and accessible jobs, says Advantage Capital Managing Director Jonathan Goldstein.

Novogradac Journal of Tax Credits Volume 9 Issue 9: NMTC Investment in Operating Businesses Complex, Beneficial
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Advantage Capital Invests in Ohio-Based RXQ Compounding, LLC

Advantage Capital today announced a nearly $3.6 million investment in RXQ Compounding, LLC, an FDA-approved outsourcing facility that manufactures medical formularies and medications used in physician offices and hospitals across the country, located in Athens County, one of Ohio’s hardest hit rural areas.

Advantage Capital Invests in Ohio-Based RXQ Compounding, LLC
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Advantage Capital Agribusiness Partners Invests in New Hampshire-Based Rustic Crust, Inc.

Advantage Capital Agribusiness Partners, LP (ACAP) invests in Rustic Crust, Inc., a “better-for-you” pizza company.

Advantage Capital Agribusiness Partners Invests in New Hampshire-Based Rustic Crust, Inc.
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Advantage Capital Picks Winning Teams in Revitalizing Communities and Putting Capital to Work

Advantage Capital celebrates some of the country's top emerging leaders in community finance at MIT's Community Finance Challenge.

Advantage Capital Picks Winning Teams in Revitalizing Communities and Putting Capital to Work
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Advantage Capital Portfolio Company Cleveland HeartLab, Inc. Acquired by Quest Diagnostics

Cleveland HeartLab becomes the base for Quest Diagnostics’ first national center of excellence in cardiometabolic disorders.

Advantage Capital Portfolio Company Cleveland HeartLab, Inc. Acquired by Quest Diagnostics
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Advantage Capital Napa, CA Office Statement

For Immediate Release: Advantage Capital’s office in Napa, California will be closed until further notice as a result of the recent Northern California fires.

Advantage Capital Napa, CA Office Statement
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Advantage Capital Managing Director Ryan Brennan Appointed to the Overseas Private Investment Corporation

Advantage Capital has announced that Managing Director Ryan Brennan has been appointed as Vice President, Office of Investment Policy at the Overseas Private Investment Corporation (OPIC), the development finance arm of the federal government.

Advantage Capital Managing Director Ryan Brennan Appointed to the Overseas Private Investment Corporation
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Advantage Capital Will Use NMTC Allocation to Spur Economic Growth

On November 22, 2016, Advantage Capital announced that it was awarded an $80-million allocation in the federal New Markets Tax Credit (NMTC) program. Administered by the U.S. Department of the Treasury, this program helps economically distressed communities attract private investment capital. This brings Advantage Capital’s total awards to $739 million since 2001.

Advantage Capital Will Use NMTC Allocation to Spur Economic Growth
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Advantage Capital Agribusiness Partners Invests in Florida-Based Vintage Italia

Advantage Capital Agribusiness Partners, LP (ACAP), along with Silas Capital and Emil Capital Partners, announced today it is leading a $3 million financing round in Florida-based Vintage Italia. Dedicated to providing capital to companies in food and agribusiness industries, ACAP has selected Vintage Italia – founded by entrepreneur Jerry Bello – as the first company within the snack food category to receive support from the fund.

Advantage Capital Agribusiness Partners Invests in Florida-Based Vintage Italia
Advantage Capital - Investment Capital for Small Businesses - United States, Finance, Capital, Investment, wealth, local community

Advantage Capital Agribusiness Partners Invests in California-Based Hip Chick Farms

Advantage Capital Agribusiness Partners, LC (ACAP) announced today a $2-million investment in Hip Chick Farms, which offers a line of organic and fully cooked frozen poultry entrées. The investment comes at a time of growth for Hip Chick Farms, supporting its release of new products as the company begins to supply to large retailers Target and Kroger.

Advantage Capital Agribusiness Partners Invests in California-Based Hip Chick Farms

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