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Lending resources for Black and low income entrepreneurs in SC

Torrie Geer, CEO of CommunityWorks in Greenville, S.C.
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Torrie Geer, CEO of CommunityWorks in Greenville, S.C.

Not all banks are willing to take the risks of making small business loans in economically depressed areas or to low-income entrepreneurs. Which is one reason our next guest’s nonprofit financial institution exists. Mike Switzer interviews Torrie Geer, CEO of CommunityWorks in Greenville, SC.

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After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.