Improving access to capital would benefit Dayton's commercial real estate businesses
(Editor's Note: This Business Owner Spotlight was curated from a response to our COVID Can’t Stop Us small business questionnaire. If you are a woman, veteran or BIPOC business owner in Dayton and would like to share your insights and experiences, we would love to hear from you.)
John Lumpkin is the CEO of Lumpkin & Lumpkin Group, a Dayton-based commercial real estate development company. Elevate Dayton caught up with Lumpkin recently to learn how the pandemic has affected his business and how he has responded.
Lumpkin said COVID-19 halted several significant projects due to funding drying up, and he had difficulty accessing capital. He focused on networking and sought funding outside of the region, he said.
Asked what banks, credit unions and community development finance institutions (CDFIs) could do to better support him and other small business owners, Lumpkin replied: “Make access to capital easier for small businesses especially in the real estate development business.”
Lumpkin said he is grateful for his family and his health, and he is looking forward to ramping back up development projects in the coming year.