CHARLOTTE, N.C. — For Bryan Moore, happiness is in making someone a well-served sandwich.
"I have recipes I make from scratch," Moore, the owner of Noda Bodega, said. "I always write down my ideas."
It wasn’t long before Bryan Moore and his wife, Lisa, turned that dream into a reality, creating the Noda Bodega, a place where a convenience store meets a deli.
"In our first year of opening, we did almost 130 Weddings," Bryan Moore said.
But Bryan Moore said that the flourishing start took a turn three years in, so they took out a loan.
"We would have been broke so being able to have access to a loan gave us peace of mind," Bryan Moore said.
Bryan Moore and his wife are now getting the relief they need thanks to the Charlotte Small Business Growth Fund, which increases access to capital for entrepreneurs like them.
The loans are expected to primarily benefit businesses in low- and moderate-income communities, including women- and minority-owned small businesses.
City officials say this is one of the largest access-to-capital opportunities directed at small businesses in the history of Charlotte.
"The number one barrier to growing a business is capital," Nate Hogan, the president of the Charlotte Alliance Foundation, told WCNC Charlotte.
Hogan said they're hoping to serve about 2,000 businesses over four years with loans up to $250,000.
Data from Stanford Business shows that Black-owned employer businesses are three times more likely than white-owned employer firms to report that lack of access to capital had a negative impact on their profitability.
Hogan said that's why they’re working to better meet the need, reducing things like credit score and cash flow requirements.
"We felt it was necessary to create an environment that allows folks to grow their business," Hogan said.
The Moores said it was an opportunity that opened so many doors.
"It allowed us to take our business to the next level," Bryan Moore said.
Officials said the money will be available on a first-come, first-serve basis.
WCNC Charlotte is committed to reporting on the many issues facing the communities we serve. We tell the stories of people working to solve persistent social problems. We examine how problems can be solved or addressed to improve the quality of life and make a positive difference. WCNC Charlotte is seeking solutions for you. Send your tips or questions to newstips@wcnc.com.
Contact Tradesha Woodard at twoodard1@wcnc.com and follow her on Facebook, X and Instagram.