New Community Transformation Fund, or NCTF, and Michigan Capital Network, or MCN, are joining forces to help business owners of color get more from its services.
“The long-term goal is actually to create generational wealth within communities of color.”
Skot Welch is managing partner of NCTF who, along with Birgit Klohs, co-founded the organization in 2020. He says the partnership with MCN will allow them to do much more.
“We have more deal flow, we have a team that actually can analyze the deals that are in front of us, we have many, many years of experience in looking at deals and opportunities, and we can still stay true to our mission.”
Both organizations will remain stand-alone entities, with MCN now providing guidance, compliance support and administrative services for NCTF.
Welch says he hopes that people of color who are considering a move to West Michigan will see opportunities for advancement and growth.
“They can see that there is an entrepreneurial community that is inclusive, that is holistic, where they can actually get their deals funded, their businesses funded, given that they meet certain criteria.”
