A Black-led nonprofit will expand its Charlotte presence

A Durham-based nonprofit will open a regional hub in Uptown Charlotte to assist small business owners, nonprofits and promote economic development.The hub, operated by the National Institute of Community Economic Development, a Black-led organization, will be located at 916 W. 5th Street. 
The hub will be called the Community Economic Development Incubator. A ribbon-cutting event is scheduled for Thursday.Kevin J. Price, the institute’s president and CEO, said the Charlotte center will:provide technical assistance and training to small business owners.

help Charlotte-based community development corporations (CDCs) and nonprofits grow their capacity.

provide loans to small businesses.

offer entrepreneurship training, mentoring and funding for student entrepreneurs at local colleges & universities throughout Charlotte and surrounding communities.“It’s a big deal,” Price tells QCity Metro.
Coincidentally, he said, the hub will operate from a building once owned by a Black lawyer.The institute paid about $2.7 million to buy the building late last year.“Quite honestly, I don’t like renting,” Price said. “I believe we should practice what we’re preaching. We’re telling people, you got to build your asset base and your wealth. Our nonprofit needs to be strong and own property as well so that we can make services available to those who need it.”

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