Another aspect of the organization’s support for small businesses can be found in its designation as a Community Development Financial Institution. When local businesses are struggling to find financing and traditional financing ‘doesn’t fit,’ 3Core is there. Chelsea stresses, “Why go online to secure financing when you have people here who can sit down with you face-to-face, understand your issues, and provide you compassionate financial support? Being a smaller financial institution allows us to be more nimble. We are able to rewrite our administrative plan and adjust as opposed to larger banks.” For instance, at the onset of Covid-19, 3Core went to their representative at the Economic Development Administration to discuss the issues our community was facing. They recognized the need to address those issues in order to help support small businesses. Large banks are very conservative with their lending, especially in light of Covid-19 and PPP loans, but 3Core can be a lifeline for small businesses during this time until they are able to qualify for more traditional loans.
best kept secret no more: 3Core 3Core is a private, non-profit company that coordinates and guides the Northstate tricounty region of Butte, Glenn, and Tehama counties in their economic development and planning. The organization oversees the tri-county area and supports small businesses by creating and implementing programs that address their ever-changing needs with the help of a network of stakeholder partners. These stakeholders come from different sectors of the community and work to bring their unique backgrounds and resources together in order to support a shared vision of progress. 3Core’s extensive work and role in the community is largely behind the scenes, and as a result, is often unknown. Chelsea Irvine, 3Core’s Community Resource Manager, says, “I feel like 3Core is the best kept secret around, which is what you do not want. You want people to know that you’re there [for them]. We are really 30
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trying to work on that.” 3Core’s focus is on making our community a better place for businesses through financing, mentoring, and perspective. Their role in the Northstate is multifaceted and exists on many levels. In its largest umbrella role, it helps with infrastructure projects such as the Cohasset roadwidening plan that required a thirteenmillion-dollar grant application. This plan will provide a staging area for natural disasters and opportunities for new businesses which, in-turn, will create more jobs for the area. Under that umbrella are other levels of assistance, such as aiding cities in securing grants for necessary employment positions like Paradise’s Disaster Recovery Manager or distributing grant funds directly to small businesses. This past year, a 4.7 million dollar grant fund was distributed to 285 small local companies. They are also the local partner in the California Small Business
3Core is essentially a hub, a focused center of resources available for the businesses of the Northstate. Their network is always growing and expanding in response to the needs of the community. They can help with grant applications, network with the Chamber of Commerce, or direct you to the Small Business Development Center for assistance in writing a business plan. This interconnected web of support, in addition to their financial assistance, are helping to grow and strengthen our community. Chelsea emphasizes, “We don’t do this alone. We could not do what we do without our stakeholders and partners in the community.” These include, but aren’t limited to: The North State Planning and Development Collective (NSPDC) at Chico State (including the Center for Economic Development), NoRTEC and the Alliance for Workforce Development, the Small Business Development Center at Butte College, the Women's Business Center at JEDI, The Chambers of Commerce, and the Downtown Chico Business Association.
WRITTEN BY SHELLY BRANDON
Covid-19 Relief Grant program and have been instrumental in helping locals apply and qualify for grants.