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From YouTube: Mountain Community Capital Fund – June 2, 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
A
B
Well,
I,
guess
yeah,
you
know,
the
original
question
is
I
think
is,
should
we
add
another
partner
I'm
in
favor,
of
adding
another
partner,
because
I
I
do
think
the
more
you
know,
the
more
hooks
you
got
in
water,
more
fish
you're
going
to
catch
so
I
mean
favorite
that
but
I
you
know
as
I
I.
Don't
want
to
repeat
I.
Just
I
want
to
make
sure
that
that
is
a
solution
to
bring
more
loans,
and
it's
not
really
just
a
communication
problem.
Yeah.
C
Well,
I
appreciate
the
discussion
and
I,
certainly
like
John's
suggestion
of
maybe
putting
together
a
matrix
or
something
like
that.
But
to
your
point,
Carl,
we
are
very,
very
much
lender
dependent
and
you
know
I
think
everyone
here
is
committed
to
pushing
the
Mountain
Community
Capital
fund
dollars
into
the
community
through
our
lenders,
but
certainly,
if
they're
not
coming
forward,
we
we
can't
take
action.
C
So
I
and
I
will
concur
I'm
I'm,
open
to
new
lenders
that
fit
our
criteria,
but
I
think
a
small
work
group,
including
the
three
lenders
we
have
and
understanding
that
you
know
basically
having
a
little
bit
of
a
gap
analysis
and
who
fits
best.
Where
is
maybe
a
first
step
as
we're
beginning
to
entertain
new
lenders
and
you
know,
do
we
need
to
see
how
that
would
complement
what
we,
what
we
do
have
and
I
think
we
just
lost
John
and
he's
back.
A
C
And
if
I
can
add
just
one
more
comment
to
that,
I
do
I,
do
think.
There's
room
for
improvement,
I
I
certainly
will
say
so
on
the
city
of
Asheville
side
for
communication
about
this
program,
it's
been
out
there
for
a
while,
and
you
know,
certainly
we
we
have
it
on
our
website.
We
talk
about
it.
I
do
get
calls
from
time
to
time
and
direct
folks
to
about
Community
Capital
fund.
But
you
know
a
coordinated
multi-prong,
advertising
and
communication
approach
couldn't
hurt.
D
C
To
get
loved
I
was
thinking
of
it.
I
was
thinking
of
a
different
friend,
that's
the
name.
Tim
Tim,
love
and
I
have
had
a
discussion
about
putting
our
communication
folks
together
and
coming
up
with
a
coordinated
strategy,
but
I
think
we're
the
folks.
We
need
to
also
have
the
lenders
involved
in
that
strategy
is
my
opinion,
so
we
it
started
the
conversation
we
haven't
gotten
far.
A
C
I,
don't
know
the
answer
to
that,
but
in
terms
of
City
Communication
resources,
we
we
have
internal
resources.
We
can
tap
into
to
some
degree
I.
E
Would
agree
on
that
I,
don't
think
we
can
use
our
our
balance
within
MCCS
for
advertising,
but
city
county
and
Mountain
Biz
works
all
have
administrative
budgets,
including
advertising
funds
and
I've
mentioned
bizworks
because
of
the
arpa
funds
that
came
through
and
I
know.
There's
an
admin
percentage
there
not
saying
that
y'all
would
use
it
necessarily
for
this,
but
there
could
be
other
finding
sources,
cool.
C
I'm,
sorry,
just
one
last
point
and
then
I'll
shut
up
as
I
think
about
this.
C
To
me
it
doesn't
sound
like
it
would
be
a
change
to
the
duties
and
services
agreement,
it's
really
just
kind
of
tweaking
operational
coordination
and
how
we,
how
we
partner
to
promote
the
fund
so
I
think
you
know
this
is
fairly
straightforward.
We
just
need
to
understand
everyone's
role
and
I.
Think
John's
made
some
great
suggestions
about
how
we
maybe
structure
and
funnel
folks
to
the
right
lender,
depending
on
their
need,
and
then
the
advertising
communication
piece
to
me
that
just
feels
like
coordination.
E
A
A
E
A
F
We
don't
have
a
loan
report,
but
we
did
we.
Last
month
we
visited
a
loan
or
a
broad
loan
for
approval,
but
we
didn't
have
a
full
quorum
since
Carl
I
believe
you
did
not
want
to
to
vote
on
that
specific
one.
So
we
were
just
revisiting.
That's
in
one.
A
Great
yes,
I
recruited
myself
and
still
do
so.
Rachel
do
we
have
a
quorum
without
my
vote.
E
A
E
A
In
the
meantime,
yaslin,
could
you
refresh
us
on
this
loan?
Please.
F
Yes
sure
thing,
so
this
specific
request,
I
guess
I-
can
share
my
screen
here.
F
Okay,
so
this
request
is
for
a
food
manufacturer.
It
is
a
white
female
owned
business
is
an
existing
business
since
2019
located
in
Buncombe
County,
the
loan
requested
would
be
81
261..
F
F
We
do
have
a
UCC
on
all
business
assets,
including
all
equipment,
with
a
discounted
value
that
comes
out
to
be
twenty,
nine
thousand
five.
Thirty
eight
we
do
have
our
payment
would
be
60
months.
Principal
and
interest
of
1829
credit
score
is
there's
no
really
concerns
there.
Current
and
all
trade
lines
that
haven't
filed
bankruptcy,
no
collections,
anything
like
that,
it
will
be
five
jobs.
Five
full-time
jobs
retained
in
three
part-time
jobs
retained.
F
Like
I
said
this.
This
a
client
has
received
10
plus
hours
of
coaching
and
financial
management
operations
as
well.
So
we
will
be
refinancing
a
portion
of
of
this
loan.
However,
this
the
the
refinance
loan
has
already
been
in
a
participate
participant
of
mccf,
so
it
will
be.
F
It
won't
be
outside
money.
Being
refinanced,
it's
all
money
within
fccf.
F
So
so
far
the
client
has
had
an
excellent
payment
history,
and
so
we
can
see
some
of
the
numbers
there.
Of
course,
in
2022
their
numbers
fell
a
little
bit
because
they
were
preparing
for
this
expansion
into
the
retailers,
so
it
affected
their
cash
flow.
They
are
had
to
I'll,
really
put
a
lot
of
money
into
inventory,
so
there
was
a
deficit
there,
but
with
that
I'm
does
anybody
have
any
questions.
E
It's
from
last
time
alone
that
was
already
approved
by
not
invis
works
that
has
closed
and.
E
This
request
is
to
retroactively,
approve
it
as
mccfs.
Is
that
the
practice
that
you'll
have
done
before
it
seems
like
I?
Remember
you
Mountain
Biz
works
I'm
waiting
to
close,
and
so,
if
it's
new,
can
you
talk
us
through
that
practice?.
F
Yeah,
so
we
did,
we
have
done
that
before
I
believe
it
was
during
the
time
where
we
were
putting
the
operating
agreement,
agreement
together
or
I
think
you
hadn't
needed
to
be
renewed
and,
of
course
we
had
loans
waiting
to
to
close,
but
because
of
the
timeline
we
didn't
know
when
that
was
gonna
when,
when
we're
gonna
have
all
the
the
agreement
completed
and
signed
by
the
attorneys,
so
I
believe
we,
we
did
a
few
in
early
2020,
War,
2023
and
yeah,
but
this
would
be
I,
think
the
since
then.
D
I'm,
just
one
second
Carl
I
just
want
to
verify
that
we
in
fact
have
a
quorum
Rachel.
Can
we
just
talk
through
that?
So
I
think
we
have
eight
voting
members
on
our
board.
E
D
D
So
that's
that's
our
that's
my
interpretation
and
if
that
is,
if
that
is
correct,
then
then
we
we
do
have
a
successful
Quorum,
but
I
think
it
rests
on
whether
or
not
we
have
officially
voted
in
D
as
as
a
a
member
given
that
I
think
where
we
have
come
to
is
that
she
cycled
off
and
then
we
would
again
have
to
take
action
and
I,
don't
know
if
Buncombe
County
has
already
made
that
appointment.
D
I
think
that
would
be
the
I
think.
That's
right.
If
the
group
has
not
taken
action
then
does
that.
Is
that
a
that
our
are
we
not
recognizing
that
we
have
have
d
as
that
member
as
of
yet
because
that's
my
understanding
is
that
is
that
am
I
correct
in
that
we
have
to
officially
recognize
members
and
and
vote
them
in
or
not.
A
C
E
Attorney
but
presenting
it
to
someone
else
after
the
fact,
and
if
we
learn
that
that
it
doesn't
go
through,
then
we
follow
up,
so
this
would
be
like
provisional
until
we
confirm
that
that
way,
we
don't
have
to
all
come
back
together.
Once
we
get
that
answer
and
we
vote
okay,.
C
A
Thank
you
all
right
progress,
great
thank
you.
Do
we
have
any
new
ones.
F
No
new
loans,
this
month,
okay,.
A
Thank
you
any
other
new
business.
A
Well,
we
even
discussed
something
in
detail
more
way
early.
So
how
about
that
I
will
put
something
out
about
the
new
loan
partner
and
I
will
copy
the
working
group
and
The
Wider
group
I
will
also
go
through
this
with
Tim
and
more
will
be
revealed
at
the
next
meeting.