Mountain Community Capital Fund Operating Committee – August 25, 2026

The City of Asheville's Mountain Community Capital Fund Operating Committee convened on August 25, 2026, to review a report on the fund's current operations and discuss strategic next steps. Key procurement-related topics included strengthening governance and clarifying loan approval criteria, improving collaboration with lending partners including CDFIs, and enhancing data collection and performance measurement to better track loan outcomes and community impact. The committee emphasized the need for a long-term sustainability strategy, including diversifying financial support and refining the fund's operating model. Discussions also addressed the custodial management of the fund's financial accounts, noting that currently no city or county accounts hold the funds, which are managed by Self-Help as custodian. The committee agreed on the importance of engaging lending partners in upcoming meetings to gather feedback on proposed operational changes and to ensure alignment before implementing modifications. Plans were made to schedule additional meetings, including smaller subcommittee discussions with lending partners, to advance these efforts while continuing regular loan approval activities. The committee also highlighted the need for improved promotion and support of funded businesses to enhance their success and community visibility.