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6 <br />DEPARTMENT OF COMMUNITY INVESTMENT <br />GROWTH & OPPORTUNITY <br />The Growth & Opportunity Team promotes economic development throughout the City <br />and off ers a range of programs and incenƟ ves that support South Bend businesses. The <br />Team administers several programs designed to provide eligible South Bend businesses <br />loans at below-market rates and provides small developers and others access to fi nancial <br />tools that help unlock tradiƟ onal fi nancing. Other fi nancial incenƟ ves include grants to <br />promote exterior acƟ vaƟ on and tax abatements to incenƟ vize job growth and capital <br />investment. The Growth & Opportunity team also provides access to job training that <br />strives to place both residents and businesses on a pathway to success. <br />REVOLVING LOAN PROGRAM <br />The City of South Bend operates two revolving loan <br />programs: the Revolving Business Enterprise Fund <br />and the Revolving Loan Fund II. In 2025, under the <br />two programs, the City issued 11 loans totaling <br />$3.9 million in direct financial support for South <br />Bend small businesses. <br />Through the loan programs, the City conƟ nues its <br />mission of providing support to small businesses <br />and expanding our local economy. Aligned with <br />the City’s focus on assisƟ ng businesses that may <br />have challenges accessing tradiƟ onal financing, <br />parƟ cularly in historically underserved areas, 54 <br />percent of the loans were for minority- or women- <br />owned businesses. <br />Of the 60 acƟ ve loans managed by the City, 58 <br />percent are for minority-owned businesses and <br />35 percent are for women-owned. Also, despite <br />the headwinds that businesses have been facing <br />over the past few years, both loan porƞ olios are <br />performing well with minimal delinquency. 92 <br />percent of the acƟ ve loans are paid as agreed and <br />on Ɵ me. Altogether in 2025, the City collected <br />principal payments of $2.5 million and over <br />$630,000 in interest and fees. These funds are <br />reinvested back into the loan programs and are <br />made available to more South Bend businesses in <br />need of support. <br />OPPORTUNITY FUND <br />The Department of Community Investment <br />launched the Opportunity Fund small business <br />assistance program in February 2025. The <br />Opportunity Fund, which combines business <br />coaching with access to capital, closed out its <br />fi rst year of operaƟ ons by providing 20 local <br />businesses and startups fi nancial aid in the <br />form of lower-interest loans. The program, <br />developed by the City in partnership with 1st <br />Source Bank and the North Central Indiana <br />Small Business Development Center (ISBDC), is <br />available to small businesses located within the <br />City who meet certain eligibility requirements. <br />The City commiƩ ed $1 million over a three- <br />year period to support the Opportunity Fund <br />with $500,000 allocated for its iniƟ al year. <br />This program reinforces the City’s <br />commitment to fostering economic growth <br />and entrepreneurship within the community. <br />The program fi elded 140 inquiries during the <br />year, and 46 small businesses parƟ cipated in <br />nearly 100 sessions and 130 hours of coaching. <br />Of those 46 businesses, 23 completed the <br />coaching and were referred for lending.