New funding helps Macon nonprofit expand small business loan program

A $9 million investment from Cadence Bank will allow nonprofit NewTown Macon to expand its revitalization of downtown through small business loans.

NewTown Macon has been investing resources in downtown Macon for 25 years now. Josh Rogers, President and CEO of Newtown Macon said the group's partnership with Cadence Bank opens more possibilities for investments in the community. 

“With this funding, we can start 146 new businesses with over 400 jobs, including 80 owned by women and people of color,” Rogers said. 

Lauren Marshall, Vice President of Community Development said the partnership, coupled with NewTown Macon’s unique position as a Community Development Financial Institution, allows them to tailor their lending programs to support communities that have been previously underserved. 

“We are backed by the U.S. Treasury, and so we are certified as a financial institution,” Marshall said. “We want to make sure that those populations and those businesses are getting the resources that they might not have access to at a traditional financial institution.”

The nonprofit has already invested over $842 million in downtown Macon, adding 69 loft apartments,12 storefronts, seven rehabilitated buildings, and renovations of public parks.