Current Programs
Fusion Fest
An expedited line of credit to help small vendors participate in large events
Helping event vendors go big
The first-ever Fusion Fest was huge! In September of 2023, about 30,000 people enjoyed a re-imagination of South Bend’s famous Ethnic Festival. Over two days, more than fifty musical acts and fifty food vendors celebrated every region of the world.
But organizers spotted a challenge early on: how can small businesses be brought into such a large event quickly, when the typical application process for a small-business loan takes too long?
Streamlined Credit Application
To make it easier for small businesses to secure capital, CDFI Friendly South Bend partnered with Allies for Community Business and the City of South Bend to create the Fusion Fest pilot program – a streamlined application process for a small business line of credit.
With this program, vendors were able to avoid jumping through many of the hoops found in more typical loan applications and secure up to a $2,500 line of credit quickly. Vendors were able to use the capital to purchase supplies or acquire equipment in preparation for the event.
What’s more, the 12-month line of credit may be used throughout a year, enabling borrowers to continually build their credit history and be better positioned for larger loan amounts in the future.
2024 and Beyond
While the 2023 pilot program was a success, 2024’s program details are still being developed. Watch this page for more details.
If you are an event organizer in northern Indiana and would like to help local vendors engage with your event, contact us to explore developing a similar program in your community.
Robyn and Jairo are the co-owners of A Bite with Mee, specializing in Korean-Mexican fusion. The entrepreneurs used their line of credit to obtain a grinder for making corn tortillas from scratch, and are building their credit history in hopes of launching a food truck.