Wisconsin Women’s Business Initiative Corp. has received a $1 million investment from Charter Communications, Inc. to make loans to individuals starting or expanding a small business in the company’s Wisconsin coverage area.
Charter Communications announced in a news release that the Spectrum Community Investment Loan Fund had made the $1 million investment. The loan fund focuses on making loans to small businesses that sell goods or services to help meet core needs in underserved communities. The loan fund operates in the 41 states where Charter does business.
“Charter is investing in the communities where our customers and employees live and work, and we are excited to partner with WWBIC to make available vital economic resources to small business owners in Wisconsin,” said Jeff Buller, Charter vice president overseeing the loan fund in a news release. “In addition to the capital to fund vital low interest small business loans, Charter is also providing a grant that makes available assistance programs and training for small business owners in Wisconsin.”
WWBIC provides access to resources like responsible financial products and business and financial education. WWBIC focuses on individuals who have historically faced barriers to accessing traditional financial or business resources, including women, people of color, veterans and low-income individuals.
Wendy Baumann is president of the Wisconsin Women’s Business Initiative Corp. (Photo: Wisconsin Women’s Business Initiative Corp. photo)
“WWBIC is thrilled with this new investment through Charter,” said WWBIC President Wendy Baumann in a news release. “Such capital investments allow WWBIC to continue advancing our access to responsible capital and enable us to grow and serve more entrepreneurs and business owners.”
WWBIC has lent more than $77 million in micro and small business loans since 1987.
Charter launched the loan fund in February with a commitment to invest $10 million by the end of 2021.
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