Special Meeting: Mountain Community Capital Fund Operating Committee (Virtual) (Oct 15, 2026)

Meeting Overview The Mountain Community Capital Fund Operating Committee held a special virtual meeting on October 15, 2026, to prepare for its full meeting scheduled for November 6, 2026. The session focused on refining a draft strategic vision and developing a structured engagement plan for Community Development Financial Institutions (CDFIs). The committee took no formal actions or votes during this session, with the primary goal of finalizing these documents for formal consideration in November.

Key Discussions and Decisions The committee reviewed a draft mission and vision statement presented by Evie, a staff member, which was based on facilitated discussions from June. Key themes identified included strengthening governance, improving relationships with lending partners, enhancing data and performance measurement, and ensuring long-term sustainability. A significant portion of the debate centered on whether a formal, structured engagement process with CDFIs was necessary, given that informal one-on-one conversations had already taken place.

Evie proposed a structured engagement plan involving one-hour meetings with each CDFI partner, attended by rotating community-appointed members and staff. The committee also discussed whether to use external facilitators, Lee and Max from Buncombe County Strategy and Innovation, to add weight to the process. Matt, representing Buncombe County, and Carl, from the City of Asheville, noted that they had already held multiple informal conversations with lenders, including Mountain BizWorks and Carolina Small Business. While feedback on a new loan guarantee request form was positive, feedback on a borrower release form was mixed.

Community Input and Stakeholder Concerns Several committee members raised critical concerns regarding the fund’s operations and equity. Dee, from the City of Asheville, expressed concern that technical assistance for minority and low-wealth entrepreneurs is ineffective, citing external studies suggesting cohort models do not work for these demographics. She highlighted that Mountain BizWorks’ refusal to sign a borrower release form hinders the collection of data necessary for informed lending decisions.

Dee also requested that the committee ensure small business owners have a voice in the process, not just CDFI partners. Evie clarified that the current engagement plan focuses on operational processes with partners but suggested adding questions about borrower input to the agenda. Carl raised the strategic question of when the fund would be "fully subscribed" and mentioned ongoing discussions about a potential moratorium on lending to Mountain BizWorks until substantive issues are resolved. Frank, also from the City of Asheville, emphasized the importance of communicating the fund’s limited runway to partners to underscore the need for new funding.

Follow-ups and Next Steps No formal votes or binding decisions were made. The committee agreed to place the draft engagement plan and strategic vision on the agenda for the November 6 meeting. Evie agreed to continue preparing these documents, incorporating feedback from this discussion. Committee members Matt, Carl, and Dee agreed to review the draft documents and questions prior to the November 6 meeting. Staff will continue working on a "tiered release of information" form, allowing borrowers to choose their level of data sharing.

Impact on Residents This meeting highlights the fund’s ongoing efforts to improve operational effectiveness and equity in lending to small businesses. By addressing data collection barriers and technical assistance models, the committee aims to better support minority and low-wealth entrepreneurs. The potential moratorium on lending to Mountain BizWorks and the discussion of fund capacity indicate significant strategic shifts that could affect the availability of capital for local small businesses in the near future.