Cadence Bank announces $9 million investment for Macon business through NewTown Macon

The investment is expected to help bring even more restaurants, retail, housing and entertainment to downtown Macon.

MACON, Georgia (41NBC/WMGT) — New opportunities are coming to Macon for aspiring and first-time business owners thanks to a $9 million investment in NewTown Macon from Cadence Bank.

NewTown Macon is a non-profit, public-private partnership that has worked for 25 years towards the revitalization of downtown Macon.

For business owner Jave Bjorkman, NewTown gave him the chance to make his vision of opening Third Street Studio a reality.

“Basically the past five years that’s what Newtown has been to us, that’s what they’ve meant to us – Is making our dreams come true, allowing us to express our creativity and also pursue a business,” Bjorkman said.

Now, NewTown Macon can expand its resources and lending for aspiring entrepreneurs and businesses thanks to a $9 million investment from Cadence Bank.

For more than a decade, Cadence Bank has worked with NewTown to finance loft and retail projects downtown. When NewTown Macon became a certified Community Development Financial Institution (CDFI) in 2021, it enabled Cadence Bank to make the investment.

President of the Cadence Bank Middle Georgia Division, Bruce Leicht, says the investment can bring even more restaurants, retail, housing and entertainment to downtown Macon.

“What sets our CDFI apart is the track record that Newtown Macon brings with it,” said Leicht. “They’ve got a great history of lending and revitalizing downtown for the last 10, 12, 15 years, and most CDFIs don’t have that kind of track record.”

Vice President of Community Development with Newtown Macon, Lauren Mauldin, says the investment will help the non-profit make more of an impact in the small business community.

“Just activating one space or investing in one business can make a difference because then that gets everybody excited, not only for our community, but it also shows people that anything is possible in Macon,” Mauldin said.

As a CDFI, Newtown Macon is able to provide entrepreneurial training and loans to historically under-served business owners such as young and first time borrowers, women and people of color.

For Jave Bjorkman, the investment from Cadence Bank can uplift all businesses downtown the way Third Street Studio supports all creatives in his industry.

“For us to support people in our industry just means that Macon grows,” Bjorkman said. “Our aim isn’t to be the most successful company, our aim is for Macon to be the most successful city.”