As a member of the Western North Carolina community, Partner Community Capital (PCAP) is deeply connected to the region’s people and businesses. With an office in Asheville and a team who live and work locally, PCAP is acutely aware of the challenges the community faces, especially in the aftermath of natural disasters like Hurricane Helene. 

PCAP, a Community Development Financial Institution (CDFI), catalyzes sustainable economic development by providing affordable, flexible capital and advisory services to small and emerging businesses. When the hurricane hit, it affected not only PCAP’s clients but also their neighbors and friends— people they have partnered with to strengthen the region’s economic fabric over the years. 

“Our communities in Western North Carolina have been hit hard, and we want to make sure they have one less thing to worry about as they recover,” said Marten Jenkins, Founder & CEO of PCAP. “We mobilized quickly to implement this loan deferral program because we know that when businesses can’t operate, financial strain increases rapidly. By deferring loan payments, we hope to ease some of that pressure and allow our borrowers to focus on rebuilding.” 

PCAP’s lenders have been proactively reaching out to individual clients, ensuring they know about the available support and assessing each client’s specific circumstances. Additionally, PCAP has been sharing community and partner resources through its virtual channels to provide further assistance. 

PCAP moved swiftly to offer an initial two-month loan payment deferral to impacted borrowers, easing financial pressure on local businesses that were forced to close. This is just a first step, designed to help businesses focus on immediate needs. PCAP’s lending team is working closely with individual clients to review their needs going forward. 

“This initiative reflects our deep commitment to the people who make up our communities, especially in tough times. We understand that our borrowers’ and neighbors’ needs will continue to evolve, and PCAP is dedicated to adjusting our support to meet those changing needs and helping people get back on their feet as they recover and rebuild,” Jenkins added. 

By acting quickly, PCAP aims to support businesses as they rebuild and stabilize, helping ensure the region’s long-term economic health. They are collaborating with other CDFIs and community partners to identify additional resources to support small businesses in their recovery. 

Since 2001, PCAP has lent $124 million to 900+ businesses and nonprofits, approximately 85% of which are in rural or economically distressed communities. More information can be found at partnercapital.org.