The City of Augusta and the Greater Augusta Black Chamber of Commerce have unveiled plans for their new CABE Fund (City of Augusta Business Equity), an Augusta $425,000 Guaranteed Loan/Grant Training Program, funded by the City of Augusta. This program will provide entrepreneurs and minority small business owners with the needed training and capital to be successful. The program is funded through Augusta’s allocation from the American Rescue Plan Act.
The CABE Fund Program will offer a comprehensive approach to assist both new and existing entrepreneurs with the following:
- Four weeks of training and an additional six weeks of coaching and mentorship for new and existing minority-owned business owners and entrepreneurs.
- The additional six weeks of coaching and mentorship are a critical component of the program to ensure that participants stay engaged, are taking actionable next steps, and have the support they need to succeed.
- At the end of the program, guaranteed grants/loans will be provided after all criteria are met within program guidelines.
- Courses are from subject matter experts from the southeast and the CSRA, that are from a similar demographic.
- Training components include:
- Introduction to Entrepreneurship
- Business Planning Basics
- Business Structure 101
- Bookkeeping & Recordkeeping
- Business Insurance 101
- Business Marketing/Branding 101
- Growing Your Business and Obtaining Your First Customer
- Credit Essentials, Reporting, and Tracking cash flow
- Running a successful business
The initiative is part of the City of Augusta’s continued effort to support sustainable businesses and economic opportunity by focusing on small business training and providing a guaranteed economic opportunity. The hope is that these entrepreneurs can connect and collaborate with business and commerce. This program is unique, in that it offers entrepreneurs both training in business fundamentals and access to capital upon program completion.
This program is based on similar GABBC-led programs in Aiken, SC, and Augusta, GA which include business educational workshops, an annual pitch competition, and providing technical assistance to business owners.