Memphis black-owned businesses get new opportunities
When River City Capital Investment Corp. welcomed its new President, Ron Brooks, Jr. late last year, the organization bolstered its status as Memphis’s leading source for small business capital and the region’s only home-grown CDFI.
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River City Capital has helped more than 525 MWBE business owners since 2010. Today, small businesses can apply for low-interest loans up to $200K, with flexibility like delayed and interest-only payment options that keep businesses current, and are key to River City’s people-first approach to lending.
“Historically, financial institutions have struggled to provide the same support and resources to minority-owned businesses as their counterparts. We are changing that,” said Ron Brooks, Jr., President of River City Capital Investment Corp. “River City Capital was created to give small business owners in underserved neighborhoods access to the funding they need to thrive. I joined the organization because our mission is more than capital – it’s putting equality into practice by connecting people to resources.”
In January, River City Capital’s continued growth also included a new website , and the addition of a Portfolio Manager and new Operations Manager to the team. The website streamlines River City’s online loan application process, freeing up resources to focus one-on-one with clients.
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River City Capital Investment Corp. (RCC) provides low-risk, low-interest loans to small business owners in underserved neighborhoods across the Mid-South. The leading nonprofit lender in Memphis and Shelby County, RCC is a certified Community Development Financial Institution (CDFI) and an affiliate of Community Lift. RCC’s mission is to support economic development and community revitalization in neighborhoods that need it most, by providing sustainable financing opportunities for minority-owned businesses.
Originally from Chicago, IL however a longtime Memphian, Ron Brooks, Jr. has dedicated his life to connecting people to resources. Ron’s 18-year banking career has spanned several financial institutions in the Memphis market, beginning in the management trainee program at Regions Bank and progressing with successful Chairman’s Club performance in retail administration, commercial banking, business banking, and CRA investing. In 2021, he joined Community Lift affiliate River City Capital as President.
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