Program Evaluation > Evaluation Reports > Lending Impacts
Small and medium-sized businesses who received loans from CSBDF between July 2018 and June 2019 helped generate over $13M in total payroll earnings across North Carolina. Those earnings supported 277 total jobs with average wages of $46,931. Individual earnings for full-time year-round North Carolina residents during the same time period was$42,356. Across all businesses assisted, over $1.2M in state and local government revenue was generated from payroll, sales, and production taxes. On average, each small business assisted helped support $224,383 in payroll earnings, 4.8 full-time equivalent employees, and $20,755 in new tax revenues.
Why This Matters
As a community development financial institution, CSBDF’s primary goal is to help grow North Carolina’s economy. The use of evidence-based evaluation principles guide CSBDF’s organizational mission to be an effective and efficient development institution. In that spirit, we conducted an independent analysis on the economic impact of CSBDF’s small business loan clients using a conservative input-output modelling technique. The data highlight why support of smaller firms is important for the state’s sustained growth and how entrepreneurs assisted by CSBDF are contributing to North Carolina’s prosperity.
Carolina Small Business Development Fund. 2020. The Economic Impact of Assisting Small Firms: An Analysis of CSBDF’s Lending Activities. Raleigh, NC. http://carolinasmallbusiness.org/evaluation/lending-impact/.