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From YouTube: Mountain Community Capital Fund – September 1, 2023
Description
Regular meeting of the Mountain Community Capital Fund.
Access the agenda and other meeting materials at the City of Asheville website: https://www.ashevillenc.gov/department/city-clerk/boards-and-commissions/mountain-community-capital-fund-operating-committee/
Participate before and during the meeting on our public engagement hub: https://publicinput.com/U4153
B
Thank
you
good
morning.
Everyone
welcome
to
the
September
1st
meeting
of
the
Mountain
Community
Capital
fund
operating
committee,
also
known
as
mccf
would
like
to
welcome
everyone.
That's
joined
us
as
well
as
the
members
of
the
public
who
may
be
with
us
as
well
to
kick
off
our
meeting.
Today
we
are
going
to
do
a
quick
roll
call,
and
so
what
I'd
like
to
do
is
I'll
go
down
the
list
when
I
call
your
name,
please.
B
C
Morning,
can
you
hear
me
okay,
you're
great
great,
my
name
is
Dee
Williams
I'm,
the
president
D
Williams
and
Company
Inc
I
was
I,
am
now
a
County
employee,
appointee
and
I
am
a
voting
member.
Thank
you.
B
B
G
I
already
I
couldn't
come
with
me:
I'm
Karen
omanski,
with
self-help.
H
B
G
B
A
quorum
for
today's
meeting
Rachel.
Do
you
do
you
concur,
thank
you
for
the
thumbs
up
all
right,
so
we'll
get
to
the
agenda
and
other
meeting
materials
these.
These
were
posted
at
the
beginning
of
the
week
for
the
public
to
view,
as
well
as
those
on
the
committee,
so
we'll
get
to
the
business
on
Old
business.
Our
first
item
is
approval
of
the
minutes
from
the
August
4th
2023
meeting.
Hopefully,
everyone
had
a
chance
to
review
those,
and
at
this
time
would
seek
a
motion
to
approve
those
events.
B
B
Moving
to
our
next
item
on
our
agenda
under
old
business,
we
have
an
update
from
Carl
regarding
the
new
lender
criteria,
work
group
there's
a
sub
bullet
in
there
related
to
a
potential
change
to
lender
thresholds
and
Carl
I'll
turn
it
over
to
you
to
facilitate
our
discussion.
D
Yes,
thank
you.
We
have,
as
you
know,
been
continuing
to
work
on
the
process
of
understanding
sort
of
our
lender,
our
current
lender
makeup
and
what
we
might
consider
changing
to
build
a
better
deal
flow
to
get
more
loan
applications
before
the
committee
we've
had
a
number
of
companies
that
seem
to
meet
our
mission
criteria
that
have
interest
in
participating.
D
I
have
spoke
to
the
principals
of
each
of
these
organizations
personally
and
they're
sort
of
waiting
for
us
to
detail
specifically
what
we
would
like
them
to
do,
and
then
we
would
obtain
their
documentation
and
due
diligence
documents
to
understand
if
they
are
in
fact
a
fit
for
us
and
along
that
band,
we've
tried
to
take
a
look
at
what
is
our
current
lender
makeup
and
how
is
that
working
and
John
Appleby
has
undertaken
to
interview
each
of
our
lenders
and
trying
to
get
a
better
understanding
of
you
know
what
works,
what
doesn't
work
and
he's
prepared.
F
Thanks
Carl
and
I'd
like
to
up
front
just
thank
yaslin,
Lydia
and
Karen
for
spending
some
time
with
me
on
the
phone,
and
you
know
I'm,
hopefully
not
going
to
give
anyway
any
state
Secrets
here.
But
if
I
say
something
you
believe
is
incorrect.
F
For
my
conversation,
just
let
me
know,
or
chime
in
so
I
did
spend
some
time
with
yaslan
just
going
over
the
mounting
Biz
Works,
getting
a
better
understanding
and
to
to
emphasize
what
Carl
said,
we're
looking
at
trying
to
increase
and
understand
why
more
loans
are
not
coming
to
us,
and
so
I
was
trying
to
understand
better
what
criteria
these
firms
are
looking
at
or
what
might
be
any
roadblocks
so
had
some
good
conversations
with
the
Aslan
and
and
really
understood
that
they're.
F
There
are
key
criteria
for
for
the
loans
that
comes.
It
was
tend
to
be
loans
where
they
can
offer
no
personal
collateral
and
a
really
competitive
market
rate,
and
that's
why
they
they've
basically
been
the
predominantly
the
only
firm
that,
as
has
brought
loans
to
us
and,
and
so
that
is
the
the
main
program
that
they
offer
was
a
very
competitive
rate.
But
they're
no
personal
collateral,
which
is
the
other
two
firms
that
don't
have
a
similar
program.
F
F
We
should
see
a
little
bit
more
activity
there
in
the
past,
the
the
folks
that
were
focused
on
this
area
in
this,
this
Arrangement
were
distracted
with
lots
of
other
things
going
on
at
the
firm,
and
so
there's
there's
more
of
a
focus
now
on
this
area,
but
the
loans
are
going
to
be
in
the
typical
eight
to
ten
years
with
you
know
the
current
rate
environment,
10,
plus
percent
it
will
take,
and
so
obviously
that
rate
is
not
competitive.
F
It
was
a
competitive
situation,
but
it's
more
of
a
I
think
I
got
out
of
our
conversation,
it's
more
of
a
been
a
little
bit
of
a
distraction,
but
now
there's
much
more
focus,
and
so
we
should
see
more
there.
My
name
is
Karen
and
self-help.
They're
a
lot
much
larger
organization,
not
much
larger
organization.
F
They
hold,
they
hold
the
funds
for
the
mining
Capital
fund,
as
it
is
so
they've
been
around
from
the
beginning,
so
have
a
really
good
understanding,
but
because
they're,
much
larger
and
and
probably
Karen
would
say,
they're
fairly
small
as
firms
go
but
large
in
our
world,
you
know
they're
able
to
solve
a
lot
of
the
loan
issues
internally,
and
so
you
know
they
wouldn't
necessarily
need
to
come
to
us
for
help
with
any
loans,
because
they
can
solve
most
of
their
problems.
F
Internally,
I
think
it's
fair
to
say
that
all
three
firms
think
the
fifty
thousand
dollar
cap
that
we
have
in
place
is
too
low,
given
kind
of
we
settle
it
up
four
or
five
years
ago
and
the
you
know:
inflation
of
the
world's
kind
of
moved
on
to
the
50
000,
maybe
too
low
and
is
limiting
some
loans,
and
you
know
we
also
got
into
a
conversation
about
startup
businesses
and
I,
certainly
know
Mountain.
F
Bismworks
would
like
to
have
the
opportunity
to
learn
to
startups
more
startup
businesses,
and
that
would
probably
be
the
case
with
the
others
too.
So
those
two
criteria
are
also
seen
as
a
little
limiting,
and
so
those
are
high
level
findings
of
what
I
took
from
the
conversations
and
if
the
three
ladies
have
anything
that
they'd
like
to
add
that
I've
mischaracterized
or
that
they
want
to
reframe
in
a
you,
know
more
positive
light
for
their
firms.
Maybe.
H
We
really
have
not
had
anyone
stationed
out
in
the
west
part
of
the
state
to
be
able
to
concentrate
on
loans
in
that
area,
so
that
has
definitely
been
a
big
challenge
for
us
now
that
I
am
here
that
has
changed
and
we
are
still
looking
for
an
additional
Business,
Solutions
officer
in
the
western
region
as
well.
So
between
two
of
us,
we
hopefully
can
see
that
and
I
would
agree.
Additionally,
with
the
startup
comment,
I
mean
we
do
a
lot
of
startups.
H
G
Yeah
I
would
also
like
to
agree
with
with
Lydia
on
the
startup
comment.
As
you
know,
we've
last
month,
I
think
we
brought
the
subject
up
of
a
startups
just
costing
more
due
to
material
costs
and
just
costs
in
general.
G
So
you
know:
50
000
is
just
not
enough
for
a
business
to
start
up
for
the
most
part.
So
looking
at
that
criteria
and
maybe
adjusting
it
would
be
great.
D
Thank
you,
Jasleen,
yes,
but
I
think
thank
you.
John
for
your
work
and
and
everyone
who
participated,
I
think
this
gets
to
the
heart
of
you,
know
our
motivation
to
go
in
this
direction
and
and
as
we've
been
discussing,
our
threshold
is
likely
too
low
and
I
think
that
we
should
consider
raising
it
potentially
doubling
it
and
if,
with
the
operating
committee
documents
and
the
the
charter
of
mccf,
if
it
did
allow
for
the
expansion
into
startups,
I
think
we
would
solve
a
huge
problem
with
satisfying
the
mission
of
this
group.
D
C
One
of
the
things
I've
been
on
it
since
Inception
and
it
looks
like
we
did-
have
a
Manpower
issue
with
another
entity
other
than
Mountain
Biz
cap
being
the
lender.
I
suspect
my
background
is
much
more
along
the
lines
of
a
credit
committee
and
hence
do
not
understand
the
lower
limits
for
startups
associated
with
risk.
C
I
do
agree
that
we
do
need
to
be
more
diverse,
but
I
would
also
say
to
you
that
the
way
to
gain
entree
into
diversity
is
to
work
with.
Organizations
who
do
have
some
inroads
in
and
I
have
some
other
comments,
but
it
pertains
to
the
specific
loan
that
we'll
be
addressing
this
morning
and
some
questions
about
the
the
term
versus
the
and
I
understand
that
startups.
C
Don't
necessarily
have
a
lot
of
items
to
issue
personal
guarantees,
but
there's
the
length
of
time
there's
also
some
questions
I
have
about
refinancing.
So
thank
you
for
your
work
and
I'll
Reserve.
Those
comments
to
later.
D
Thank
you
D.
Thank
you.
Yes,
I
think.
The
the
things
in
front
of
the
operating
group
today
are
to
to
prepare
to
share
a
packet
of
information
to
our
for
potential
new
lending
partners
and
then
to
further
the
discussion
on
funding
startups
and
increasing
our
minimum
threshold,
our
maximum
threshold,
and
that's
all
for
my
report
today.
Thank
you.
B
It's
fairly
really
great
stuff.
Thank
you,
Carl
John
and
everyone
that's
contributed
for
for
Carl.
You
know
I
wonder,
do
you
see
sequencing
here
you
know
is.
It
is
a
discussion
on
thresholds,
something
that
should
precede
additional
conversations
with
lenders
and
and
that
type
of
thing
make
sure
we
get
our
bases
in
order.
Well,.
D
I
think
we
could
proceed
on.
You
know
preparing
our
packet
of
information
to
share
and
to
move
along
the
discussion
with
potential
new
lenders.
We've
already
vetted
them
in
terms
of
their
their
mission.
You
know
diversity,
expansion
in
Western,
North,
Carolina,
specifically
doing
business
in
Buncombe,
County
and
so
from
the
standpoint
of
our
operating
agreement.
I
believe
that
we
have
authority
to
pursue
that
further
and
to
get
that
done.
I
think
we
can
do
that
now.
D
John
and
I
will
be
working
on
that
packet
and
and
what
we
would
like
to
see
from
them,
and
we
will
continue
to
work
on
that
as
far
as
the
the
threshold
and
the
the
minimum.
You
know
the
minimum
threshold
and
the
concept
of
funding
startups,
which
these
point
is,
is
much
riskier,
but
I
think
as
we're
reviewing
our
operating
document,
and
we
are
talking
to
city
and
county
legal.
This
would
be
a
great
opportunity
for
us
to
get
clarity
on
that.
It
seems
to
be
where
the
market
is
going.
D
It
seems
to
be
what's
being
asked
of
us
on
our
mission
here
and
I.
Think
Clarity
on
that
would
give
us
Direction.
B
That's
great
Carl,
so
if
we
could
break
kind
of
the
two
topics
apart,
you
know
the
conversation
about
thresholds
and
startups
and
then
separately
the
the
new
lenders
on
the
new
lenders.
You'll
provide
kind
of
a
packet
which
sounds
great
I'd
like
to
hear
from
the
committee
about
what,
if
anything
in
terms
of
like
we
trust,
certainly
the
interviews
that
you've
held.
But
does
this
committee
feel
like
they'd
like
to
have
new
lenders
kind
of
visit
with
us
during
a
monthly
meeting
and
get
a
feel
for
them?
Does
that
feel
like
Overkill?
C
I
mean
I'm,
so
sorry,
I
would
like
to
see
more
diversity.
I'd
like
to
see
and
and
I
know,
the
prevalence
of
particularly
African-Americans
is
very
small,
especially
the
fact
that
these
are
a
lot
of
our
businesses
are
micro,
but
I'd
like
to
see
more
development
to
go
towards
that
I,
don't
know
what
the
demographics
are.
Leaning
to,
but
I'm
kind
of
as
the
loans
do
come
forward.
C
I
guess
we
are
all
able
to
to
see
who
is
getting
what
but
I
sense
that
there
is
I
mean
there
may
be
a
a
trend
that,
as
particularly
for
African-American
businesses,
that
they're
down
or
going
down
and
I
kind
of
chart
these
things
and
keep
up
so
I
would
say
that
there
needs
to
be
some
sort
of
intermediary
organization
or
some
other
steps
taken,
because
I
know
that
these
businesses
are
literally
booming.
C
D
Do
you
work
with
collider
or
yazzling?
Can
you
speak
to
collider,
which
is
sort
of
a
primarily
a
a
subgroup
of
Mountain
Biz
Works
to
facilitate
these
businesses
like
I
was
working
with
them
for
a
while
and
they
kind
of
fell
off
the
face
of
the
Earth?
So
that's
one
question.
Indeed:
do
you
have
your
finger
on
the
pulse
of
these
other,
maybe
starter
schools.
C
Speak
to
the
data
we
are
in
high
pursuit
of
it.
There
is
not
a
lot
of
data.
That's
been
kept,
there's
a
performance
audit
that
is
going
on
now,
with
both
city
and
county
governments
and
we're
looking
at
the
non-profits
and
other
organizations,
including
cdfis,
who
have
provided
services
to
ethnic
minority,
particularly
African-American
businesses
and
I.
Think
that's
going
to
be
really
telling.
We
know
just
in
the
community
that
a
lot
of
these
needs
are
not
being
met.
We
see
that
they
aren't.
C
These
businesses
aren't
even
able
to
participate
in
any
meaningful
way
in
city
or
county
Contracting.
So
there
is
a.
There
is
a
disconnect
if
you
will,
and
so
I
am
working
with
the
ncdot
specifically
on
these
businesses
and
beginning
to
work
with
some
local
church
groups
across
Western
North
Carolina,
because
there
is
such
a
dire
need.
G
I'm
not
particularly
worked
with
them,
I'm,
not
sure.
If
somebody
within
our
organization
has
did
you.
G
Okay,
oh
yeah,
gotcha
yeah,
so
you
know
that's
a
program,
that's
still
growing
and
with
the
way
the
Catalyst
works
is
we
do
have
a
separate
committee.
G
I'm
sorry
I'm
a
little
under
the
weather
just
coming
out
of
it,
but
we
do
have
a
separate
committee
that
approves
that
specific
loan
to
be
part
of
that
program
and
there's
certain
criteria
that
they
have
to
meet
in
order
to
qualify.
G
G
We
actually
also
hold
and
run
a
cohort
program
specifically
tailored
to
businesses
of
color,
but
we
just
got
done
with
one,
which
is
our
first
ever
Spanish,
only
business
cohort
and
then
so
we've
kind
of
been
creating
a
little
bit
of
a
hub,
if
you
say
with
other
businesses
and
kind
of
come
and
bringing
those
together
bringing
them
together,
but
as
far
as
other
groups
that
we
may
be
able
to
connect
to
if
I
I.
Don't
particularly
do
that
myself.
G
That's
not
really
part
of
my
role,
but
we
do
have
other
team
members
that
are
working
with
other
groups,
so
I
can
definitely
either
you
know
bring
them
in,
so
they
can
kind
of
speak
more
to
that
Coral.
But
it's
up
to
the
committee.
B
A
Thank
you
as
I'm,
looking
back
at
the
quarterly
report
that
we
looked
at
our
looked
at
during
our
last
month's
meeting.
I
know
that
this
fund
has
a
really
high
percentage
97
of
loans
or
to
black
and
brown
on
businesses
and,
as
I
was
sent
to
your
comment
D
about
African-Americans.
Specifically,
it's
causing
me
to
wonder
if
we
have
data
at
a
at
a
more
granular
level.
A
I
know
when
we
talk
about
Government
Contracting.
One
of
the
terms
that
we
use
a
lot
is
mwbe,
which
is
minority
and
women
owned
Enterprises,
and
that
category
tends
to
hold
so
much
that
it
gets
in
the
way
of
us
looking
at
some
of
the
specific
Trends.
A
G
Yes,
so
we
I
do
have
all
of
that
data
also,
so
it
it
is
broken
down
her
by
ethnicity
arrays.
So
whenever
within
our
system
they
come
through
and
we
do
any
kind
of
reporting
we
break
it
down
to
you
know
black
or
African-American,
Hispanic,
Latino,
Asian,
other
ethnicities,
white
of
course,
and
yeah
so
on.
So
it's
it's
pretty
detailed.
G
I!
Don't
think
in
that
in
our
quarterly
report,
it
breaks
it
down
by
specific
ethnicity,
but
we,
like
I,
said
we
do
have
the
data.
B
So
as
a
suggestion,
maybe
for
our
next
meeting
as
Lane,
we
can
review
the
quarterly
report.
And
again
you
know
of
our
45
loans.
97
have
gone
to
black
and
brown
businesses
and
so
just
want
to
make
sure
we
don't
lose
that
point,
but
maybe
at
our
next
meeting
we
can
just
spend
some
time
and
de-aggregate
that
a
little
bit
and
just
talk
it
through
and
then
maybe
have
a
discussion
on
strategies
to
engage
specific
demographics.
That
seem
underrepresented.
D
B
G
Yeah
so
I
guess
I
would
just
need
a
little
bit
more
information
or
guidance
as
to
how
you
would
like
to
see
that.
B
Yeah
my
thought
and
Rachel
I
see
your
hand
is
that,
but
if
we
could
just
break
out
that
de-aggregate
based
on
race,
the
our
loan
Pro
our
loan
portfolio
and
then
based
on
that
see,
if
that
generates
any
discussion
amongst
the
team,
this
team
about
particular
groups,
we
should
be
partnering
with,
or
you
know,
specific
Outreach
strategies
we
should
be
taking.
So
that's
not
on
you.
That's
more
on
this
team
to
figure
out
some
ways
to
deepen
our
reach.
A
Tim,
that's
exactly
where
I
was
going
is
to
take
this
back
to
the
agenda
item
that
we're
on
which
is
related
to
bringing
in
new
lenders
as
Carl
and
John.
Prepare
the
packet
of
the
information
that
we're
gathering
for
the
vetting,
somehow
incorporating
some
level
of
question
and
answer
and
or
data
about
their
customer
or
client
base
would
be
really
helpful.
E
Sir
I
do
want
to
mention
so
the
city
of
Asheville
did
a
mwbe
vendor
Outreach
event,
gosh
I
guess
it
was
two
weeks
ago
now.
It
only
feels
like
yesterday,
but
we
actually
had
an
attendee
from
I
want
to
make
sure
I
get
their
name
right.
E
It
was
Institute
Capital
Woman
by
the
name
of
Roberta
McCullough
from
Institute
Capital
they're
out
of
Durham
North
Carolina,
and
they
are
interested
so
they're
cdfi
and
they
are
interested
in
getting
involved
in
in
the
Asheville
and
Western
North
Carolina
area.
So
I've
shared
this
information
with
Carl
and
I
think
he
was
going
to
reach
out
to
them,
but
there
there
are
certainly
others
in
the
lending
space
that
are
interested
in
that
one
came
to
our
event
and
acted
and
was
actively
inquiring.
So
just
wanted
to
mention
that.
D
Yeah
Frank
I
did
reach
out
to
them
that
email
address
failed,
but
I
did
go
to
their
website
and
put
in
a
request
to
connect
with
that
woman
through
their
website.
B
Good
stuff
y'all,
thank
you,
so
I
want
to
bring
this
item
to
a
close,
so
we
can
get
to
yasleen's
presentation.
B
However
Carl
you
had
mentioned
I'd
compartmentalize
sort
of
this
discussion
on
new
lenders
meet
and
greet
Concepts,
and
then
changes
to
thresholds,
I
think
on
changes
to
thresholds.
I
think
we
would
just
need
to
have
a
recommendation
for
what
we
think
is
appropriate
if
it's
doubling
the
minimum
and
then
same
would
be
true
on
on
the
startups-
we're
not
prohibited
from
lending
to
startups.
B
On
the
new
lenders,
I
would
suggest-
and
we
can
flesh
this
out
at
a
future
meeting,
but
I
do
think
some
type
of
meet
and
greet
would
be
a
good
idea
for
the
operating
committee
to
meet
the
new
lenders
that
are
interested
in
joining
this
committee
does
have
the
ability
to
approve
those
new
lenders
joining
and
I
want
to
make
sure
folks
are
comfortable
with
that.
New
group
and
I
think
it'd
be
great
to
hear
about
their
engagement
strategies
in
particular,
so
go
ahead.
Carl.
D
Yeah,
my
thinking
was
to
do
an
initial
betting
of
their
their
due
diligence
documents
to
see
if
they
fit
with
our
operating
agreement
per
se,
and
then
we
would
put
them
in
front
of
the
group
to
discuss
vet.
Invite
we'll
just
do
a
little
Advanced
vetting
before
we
bring
them
to
you.
Guys
perfect
with
that.
If
that's
acceptable
to
everyone.
B
Alrighty
so
we'll
shift
that
old
business
into
new
business
gasoline.
This
is
your
show
yasling
prepared
a
loan
guarantee
report
that
has
been
posted
online
and
was
sent
in
advance
of
our
meeting.
Hopefully,
everyone
received
it,
but
yes,
Nina
I'll
turn
it
over
to
you.
A
G
G
See
that
pretty
good,
that's
life
all
right,
so
hopefully
everybody
got
a
chance
to
review.
But
if
not,
please
stop
me
and.
G
Sorry
had
some
background
noise.
If
you
have
any
questions
about
anything,
please
let
me
know
so.
G
G
G
G
So
we'll
have
a
a
blanket
lien
on
all
business
assets.
The
value
is
projected
at
55
000.
However,
we
have
to
assume
a
a
discount
on
those
assets
which
we
applied
a
50
discount,
so
a
liquidation
value
of
27.5
is
assumed.
The
rate
is
five
percent
fixed.
G
We
do.
We
will
be
given
him
three
months
of
interest
only
and
then
one
seven
117
months
of
pni,
so
a
total
of
120
months,
which
is
10
years.
The
monthly
payment
is
908.54
cents.
Credit
score
he's
got
730
credit
score.
Excellent
repayment
history
has
no
collections,
had
never
filed
bankruptcy.
G
He's
invested
18
000
of
his
own
funds
into
the
businesses.
Since
this
Inception
he
will
be
retaining
the
fun.
The
funding
will
be
retaining
two
full-time
jobs
and
we
we
will
be
creating
two
full-time
as
well
as
far
as
technical
assistance
goes.
The
client
has
been
engaged
with
mountain
best
books
for
well
over
a
year,
preparing
his
plan
to
expand,
he's
completed
the
six
weeks,
Foundation
class
and
is
also
a
part
of
our
first
Latino
cohort
program.
G
G
G
G
So
looking
at
his
Revenue,
so
you
can
see.
Let
me
pause
there
and
see
if
anyone
has
any
questions
before
we
kind
of
get
into
this.
C
Thank
you,
I
do
have
a
few
I
do
apologize
for
my
other
phone
notification.
I'm
gonna
try
to
shut
it
off
real,
quick
I.
Just
have
a
couple.
You
did
answer
one
120
months,
and
so
it's
three
months
of
is
it
interest
only
or
is
it
just
a
moratorium?
I'm
sorry
I
forgot,
which
one
yeah
interest
only
okay.
So
let
me
ask
you
this:
it
seems
like
I've
owned
one
of
these.
It's
a
landscaping.
This
is
service,
business,
landscaping,
business,
seasonal
kind
of
business.
Is
that
pretty
much
it?
C
G
That's
incorrect.
What
we
do
is
we
take
a
look
at
the
Historical
cash
flow
and
apply
and
go
back
and
apply
the
proposed
loan
to
see
if,
historically,
the
business
has
been
able
to
could
be
able
to
cash
flow,
the
proposed
debt,
so
that
is
not
that
he
had
a
loan.
That
means
that
we
are
retroactively.
Applying
the
loan
Serv
The
Debt
Service,
to
see
if
historically
he's
been
able
to
afford
the
the
loan.
Essentially.
C
C
C
It
it
looks
like
I
guess:
I
have
another
technical
question:
I
won't
ask
it
right
now:
it's
because
the
net
profits
seemed
to
show
on
the
bottom
line
and
those
net
profits,
I
believe
in
the
LLC
flows
through
each
partner's
individual
return.
C
C
If
they've
got
that
much
cash
flow,
I
guess
I'm
wondering
if
that
loan
probably
could
have
been
paid
back
within
seven
years,
and
the
reason
why
I'm
asking
that
is
because
the
guarantee
is
on
the
equipment
and
most
equipment,
the
useful
life
of
it
doesn't
go
beyond
seven
years
so
that
that's
the
only
reason
why
I
asked
that,
but
it's
a
a
nail
go.
G
Ahead,
he
could
potentially
repay
back
early.
We
don't
have
a
repayment
penalty,
yeah
penalty,
however,
because
he
has
his
business
is
going
we
want
to.
We
want
to
make
sure
we
leave
enough
operating
Capital.
You
know,
excuse
me,
in
order
for
him
to
do
that,
especially
with
it
being
a
seasonal
business.
We
want
to
make
sure
that
he's
got
enough
capital
in
the
bank
in
order
to
cover
his
expenses
during
those
months.
C
Know
how
many
days
of
cash
flow
he's
got
on
him
right
now,
without
this
alone,.
C
Okay,
the
only
thing
that
I
would
say
and
and
I
think
I
have
one
more
question.
Is
that
I'd
like
to
see
some
of
these
long,
structured
and
y'all?
C
Forgive
me
for
being
kind
of
conservative
but
I'm
doing
due
diligence
here
and
that's
why
I'm
here
is
I'd
like
to
see
them
structured
more
along
the
useful
life
of
the
equipment,
which
is
usually
no
more
than
seven
years,
because
it
involves
operating
capital
and
based
on
the
equipment
and
if
he's
got
sufficient
cash
flow,
I'd
like
to
be
paid
back
in
84
months,
rather
than
the
customary
120
months
or
10
years,
and
then
what
I'll
do
the
seasonality
of
the
business
is
also
a
thing
too,
but
I
understand
you
wanted
to
reserve
this
cash
flow
thanks
for
sending
this,
these
cash
flows
ahead
of
time
to
yaslin
and
thank
you
Frank.
G
Yeah
one
thing
I
would
like
to
say.
As
far
as
the
term
goes,
you
know
we
really
take
a
look
at
the
business
ability,
the
businesses
ability
to
repay
and
again
we
don't
want
to
put
the
client
in
a
position
where
his
overhead
is
too
high
or
he's
not
even
going
to
to
repay
the
loan.
D
Yeah
I
think
I
had
the
same
question
in
the
in
the
top
part.
It
sort
of
suggests
that
he
doesn't
have
any
debt
and
then,
on
this
p,
l
or
performer,
it
does
show
that
he
has
a
business
loan.
So
I
think
you
address
that
and
I
have
to
say.
I.
Think
D
makes
a
great
point
if,
if
this
loan
is
collateralized
by
equipment
and
the
use
of
life
is
seven
years,
I
think
that's
a
reasonable
consideration
going
forward.
B
Liam,
thank
you
for,
as
always
for
providing
this
information
and
answering
these
questions.
Any
additional
questions
and
Dee
and
Carl
appreciate
else
comments
always
as
well.
F
G
B
E
A
G
There
was
a
little
bit
of
hesitation
from
the
committee
before
about
industry
specifics,
because
this
is
a
public
forum,
so
I
mean
I've.
We,
like
I,
said
we
have
that
data,
but
as
far
as
yeah.
A
I,
remember
some
of
that
as
well,
and
there
were
like
the
larger
categories
and
then
the
more
specific
categories,
maybe
as
you're
in
there
looking
at
the
demographics,
see
if
see
see
what
the
data
show
and
if
there
are
some
sort
of
broader
level
industry
categories
that
we
could
keep
our
eye
on
as
a
portfolio
level,
not
necessarily
on
the
business
by
business
level.
That
could
be
useful.
B
C
Care
miles
is
going
to
concur
with
Rachel,
and
you
too,
if
we
could
use
a
sick
code
generally.
I
know
enough
about
construction.
That's
why
I
was
just
able
to
discern
a
landscape
right
on
one
of
those
as
well.
C
So
if
we
could
have
a
sick
code,
if
you
don't
feel
comfortable,
I,
don't
see
how
somebody
could
ascertain
who
was
who,
based
on
that
broad
category
of
work
or
whatever
and
I,
think
if,
if
you're
concerned
enough,
I
think
that
may
be
a
question
for
legal
I.
Don't
I
I,
just
don't
see
it
as
such,
but
but
I
think.
C
If
it
comes
down
to
it,
I
think
we
do
need
to
make
sure
our
portfolio
is
Diversified
and
there
the
seasonality
also
of
it
is,
is
also
an
issue
and
which
is
not
really
an
issue.
But
still
we
need
to
know
this
information
just
to
be
duly
diligent.
Thanks.
B
It
gets
me
to
cook
it
good
deal,
so
I
think
yasleen
glad
to
talk
with
you
more
about
it.
Unless
someone
sees
it
differently,
I
think
having
the
portfolio
data
does
not
strike
me
as
too
much
information
from
specific
business
perspective.
B
I
can
understand
the
concern
when
we're
reviewing
a
data
like
one
of
your
data
collection
reports
where
it's
like
there's
only
X
number
of
businesses
in
this
industry
and
we
kind
of
know
who
they
are
but
I
think
when
you
aggregate
it
I
think
you
lose
that
risk,
so
I'd
be
supportive
of
that.
Hopefully
not
too
much
of
a
lift
and.
A
That's
data
that
is
already
it
looks
like
already
publicly
available,
I
just
Googled
the
code.
That's
provided
on
the
first
page
of
this
report
and
that
now
I
understand.
That
b
was
aware
that
it
was
a
Landscaping
service.
C
Her,
yes,
if,
if
I
may,
I
I
moved
to
approve
this
loan
packaged
and
just
want
to
thank
everybody
for
their
excellent
comments
and
I
just
I
just
do
so.
Thank
you.
So
much
I'll
move
to
have
it
approved
to
make
it
to
approve
it.
B
B
Seeing
none
loan
guarantee
is
approved,
yazzling,
congratulations
to
the
recipient
of
the
loan
and
the
loan
guarantee.
This
is
pretty
exciting
stuff.
G
B
B
Very
well
so
we
are
getting
close
to
time.
I
would
like
to
take
well
before
we
get
to
public
comment.
I
would
like
to
take
a
brief
moment
to
share
Rachel
and
I
had
a
meeting
earlier
in
the
week
with
Guilford
County
who's,
looking
to
create
a
a
similar-ish
program
to
what
we're
doing
here
with
Mountain
Community
Capital
fund.
B
Ironically,
the
the
Guilford
staff
have
have
some
experience
from
Charlotte
Mecklenburg
in
that
charmek
loan
guarantee
program
that
we've
kind
of
modeled
after
and
so
it
was
interesting
to
hear
kind
of
the
challenges
they've
faced
in
Charlotte
and
those
that
they
were
trying
to
avoid
in
Guilford,
and
so
maybe
at
a
future
day.
We
can
share
some
of
that.
B
One
item
I
do
want
to
highlight
that
I
thought
was
really
interesting
in
the
potential
Guilford
program
gets
to
something
that
Dee
Williams
talks
about
a
lot,
which
is
the
role
of
government
procurement
in
supporting
our
small
businesses,
and
so
the
Guilford
program,
which
is
not
up
and
running
yet,
is
really
seeking
to
identify
small
businesses
that
participate
in
government
contracts
with
Guilford
County
and
use
those
businesses
as
the
target
for
their
loan
guarantee
funds.
B
So
simultaneously,
like
you
know,
just
building
the
the
depth
the
capacity
of
those
lenders
who
are
or
businesses
that
are
already
connected
to
government
procurement
so
that
they
can
chase
bigger
projects.
Long
term
I.
Think
it's
really
interesting.
It
is
a
slightly
more
narrow
Focus
than
what
we
do
but
wanted
to
throw
that
out
there,
as
we
think
ahead
to
what's
next
for
this
group
and
if
that's
an
area,
that's
worth
chasing
but
seemed
really
smart
to
me
and
just
wanted
to
share
that
nugget.
So
I
love,
it
agreed.
G
I
think
that's
great
Tim
love
to
see
you
know
maybe
some
loans
that
are
tied
to
a
city,
contract
and
kind
of
work
together
with
this
fund
to
to
complete
those.
So.
I
I'd
say
we're
all
in
I:
think
that's
fantastic
I
love
what
I'm
hearing,
because
I
I
think
too,
when
we
think
about
the
kinds
of
businesses
that
we
work
with
Landscaping
would
certainly
be
one
but
other
that
are
just
more
intensive
in
terms
of
upfront
Capital
needs.
So
thinking
about
you
know
acquiring
equipment
that
it
would
take
to
finish
sidewalks
or
do
concrete
work
or
poor
Greenway
Trails
I
mean
I,
think
I.
Think
it's
really
smart
and
I
I
wholeheartedly
agree
and
I
appreciate
the
feedback
and
the
research
to
him
so
support
it.
B
C
Right,
forgive
me,
forgive
me
I'm,
so
sorry,
I'll
be
working
with
these
churches
on
procurement
and
Contracting.
Doing
takeoffs
estimates
my
specialist
construction
as
y'all,
some
of
y'all
may
know,
and
procurement
Government
Contracting,
so
we'll
be
working
in
that
area
very
steadfastly
and
we're
working
also
with
Dogwood
Health
Trust
son
too.
Thanks.
B
So
much
all
right
last
call
for
Committee
Member
items
to
share
thoughts.
Questions
concerns
anybody
all
right,
I
hope
everyone
has
a
great
long
weekend.
This
Labor
Day
weekend
I
appreciate
all
of
your
time.
I
look
forward
to
seeing
you
at
our
next
meeting,
which
is
going
to
be
October
6th
I'll
be
in
touch
about
specific
agenda
items
in
advance.
If
you
have
any
questions
or
concerns,
please
reach
out
all
right.
Y'all
have
a
great.