Piedmont Business Capital

Organization Overview

Piedmont Business Capital is located in Greensboro, NC. The organization was established in 1999. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Piedmont Business Capital employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Piedmont Business Capital is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 12/2021, Piedmont Business Capital generated $1.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 36.1% each year . All expenses for the organization totaled $758.0k during the year ending 12/2021. While expenses have increased by 34.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO GENERATE ECONOMIC GROWTH, ENCOURAGE SMALL BUSINESS DEVELOPMENT, CREATE JOBS, AND REVITALIZE NEIGHBORHOODS BY PROVIDING LOANS AND FINANCIAL SERVICES TO UNDERSERVED BUSINESSES

Describe the Organization's Program Activity:

Part 3 - Line 4a

PIEDMONT BUSINESS CAPITAL ("PBC") HAS MANY SERVICES UNDER ITS MAIN LENDING PROGRAM. PBC PROVIDED LOANS TO MINORITY AND WOMEN OWNED BUSINESSES THROUGHOUT THE PIEDMONT REGION WITH THE MAJORITY OF LOANS RECEIVED BY BORROWERS LIVING IN GUILFORD AND FORSYTHE COUNTIES OF NORTH CAROLINA. PBC ISSUED 12 LOANS TO BUSINESSES IN 2021. IN ADDITION TO BUSINESS LENDING, PBC PROVICED TECHNICAL ASSISTANCE TO MEMBERS OF THE COMMUNITY, WHO MAY OR MAY NOT BE BORROWERS. OUR ASSISTANCE PROGRAMS PROVIDE GUIDANCE TO BUSINESS OWNERS TO IMPROVE OPERATION OF THEIR BUSINESS. MANY BUSINESSES RECEIVED TECHNICAL ASSISTANCE DURING 2021.


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Board, Officers & Key Employees

Name (title)Compensation
Wilson Lester
Director
$49,325
George Jones Jr
Executive Director
$39,067
Karl Robinson
Chairman
$0
Rudolph H Clark Jr
Treasurer
$0
Eresterine Guidry
Secretary
$0
Scott Baker
Vice President
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$1,758,257
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$1,758,257
Total Program Service Revenue$77,190
Investment income $0
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,839,047

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Piedmont Business Capital has recieved totaling $102,500.

Awarding OrganizationAmount
Z Smith Reynolds Foundation Inc

Winstonsalem, NC

PURPOSE: FOR GENERAL OPERATING SUPPORT

$70,000
Community Foundation Of Greater Greensboro Inc

Greensboro, NC

PURPOSE: GENERAL SUPPORT

$32,500
View Grant Recipient Profile

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