2025-12-17T16:32:01-05:00 2024-12-31 455081159 Progresa Inc 5709 W Gate City Blvd Ste 206 Greensboro NC 27407 990 2024-01-01 561872877 Piedmont Business Capital % Michael McKinney PIED 3362569350 1451 S Elm Eugene St STE 2101 Greensboro NC 27406 MICHAEL MCKINNEY Executive Director CEO 3362569350 2025-05-12 true true ENRIQUE RUMBOS P01441221 3369870515 2025-12-17 2024 2025-03-06 01:10:19Z Michael McKinney 1451 S Elm Eugene St Ste 2101 Greensboro NC 27406 446116 false X https://www.piedmontbusinesscapital.org X 1993 NC To generate economic growth, encourage small business development, create jobs, and revitalize neighborhoods by providing loans and financial services to underserved business 11 11 9 0 0 2372138 316750 563 23979 128803 0 2396117 446116 0 0 401769 439463 0 0 383112 603201 784881 1042664 1611236 -596548 4469257 2776686 263828 450557 4205429 2326129 To generate economic growth, encourage small business development, create jobs, and revitalize neighborhoods by providing loans and financial services to underserved business false false 30353 Piedmont Business Capital PBC has many services under its main lending program. PBC provided loans to minority and women owned business throughout the Piedmont region with the mayority of loans received by borrowers living in Guilford and Forsyth counties in North Carolina. PBC issued several loans to business in 2024. In addition to business lending, PBC provided technical assistance to members of the community, who may or may not be borrowers. PBC assistance programs provide guidance to business owners to improve operations of theirs business. 30353 true true false false false false false false false false true false false false false false true false false false false false false false false false false false false false false false false false false false false false false false false false false true false false false true 2 0 true 9 true false false false false false false false false false false false false false false X 11 11 false false false false false false false true true false false true true true true false true false false false X Michael McKinney 3362569350 1451 South Elm Eugene St Ste 2101 Greensboro NC 27401 Michael McKinney Executive Director CEO 40.00 0.00 X 132440 0 0 Karl Robinson Chairman 0.00 0.00 X 0 0 0 Erestine Guidry Vice Chairman 0.00 0.00 X 0 0 0 Reginald McCaskill Board Member 0.00 0.00 X 0 0 0 Taiwo Jaiyeoba Board Member 0.00 0.00 X 0 0 0 Cathy Knowles Secretary 0.00 0.00 X 0 0 0 Carlvena Foster Board Member 0.00 0.00 X 0 0 0 Jose Sandoval Treasurer 0.00 0.00 X 0 0 0 Mitch Gibson Board Member 0.00 0.00 X 0 0 0 David Lane Board Member 0.00 0.00 X 0 0 0 Larry Davis Board Member 0.00 0.00 X 0 0 0 132440 0 0 1 false false false 316750 316750 Other Income 812900 563 563 563 128803 128803 0 446116 129366 0 0 X 321152 321152 60606 60606 29490 29490 28215 28215 20330 18297 2033 13342 13342 3000 3000 1663 1496 167 688 688 Telephone 4457 4011 446 Supplies 95304 95304 Contract Services 20973 20973 Dues & Subscriptions 6417 6417 437027 6549 430478 1042664 30353 1012311 0 2186022 2006943 1535000 26901 711945 763416 1399 18894 14713 5844 4181 2146 2146 4469257 2776686 263828 3976 446581 263828 450557 X 1765762 2326129 2439667 4205429 2326129 4469257 2776686 X -596548 -1838000 555248 X false true X true false X 1338433 1758247 637500 2372138 316750 6423068 1338433 1758247 637500 2372138 316750 6423068 0 0 0 0 0 0 6423068 1338433 1758247 637500 2372138 316750 6423068 1.00000 1.00000 0.00000 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 18894 14713 4181 4181 446116 446116 446116 1042664 1042664 1042664 Form 990 governing body review Part VI line 11 Executive Director and Exec Commitee reviews Form 990 Conflict of interest policy compliance Part VI line 12c Ad-hoc basis, if information becomes available Governing documents etc available to public Part VI line 19 Documents are available on request Explanation of other changes in net assets or fund balances Part XI line 9 In 2023, the Organization was awarded a $2,500,000 grant from the City of Greensboro, N.C. Under the terms of the agreement, $500,000 was designated for operating activities and recognized as revenue, while the remaining $2,000,000 was designated for loan disbursements and is to be recorded as a refundable advance until the funds are used for the disbursements of loans. Of the total award, $1,000,000 was advanced in 2023, with the remaining balance is scheduled to be disbursed in $500,000 increments. In 2023, the Organization disbursed $162,000 as loans. For the year ended December 31, 2024, the Organization was advanced an additional $500,000. Loan disbursements during 2024 totaled $555,249, which were recognized as grant revenue in accordance with the grant agreement. At December 31, 2024, the refundable advance liability was $282,752, representing funds received but not yet disbursed for lending purposes. In addition, $1,000,000 of the grant remains available for future advances List of other expenses Part IX line 24e Program Services: Bad Debt $91228 Small Equipment $68 Rentals $190 Management & General: Registration $7531 Bank Charges $3557 Meals $5371 Shipping $206 Greensboro Area Chamber of Commerce 342 North Elm St Greensboro NC 27401 N/A false false false false false false false false false false false false false false false false false false false