Who is CDR?. 1994 -Started as Self Employment Loan Fund (SELF) 2001 -Became an independent 501...

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Who is CDR? C O M M UN ITY D EVELOPM EN T R ESOURCES

Transcript of Who is CDR?. 1994 -Started as Self Employment Loan Fund (SELF) 2001 -Became an independent 501...

Page 1: Who is CDR?. 1994 -Started as Self Employment Loan Fund (SELF) 2001 -Became an independent 501 (c)(3) non-profit 2002 -Became a Community Development.

Who is CDR?

COMMUNITY DEVELOPMENT RESOURCES

Page 2: Who is CDR?. 1994 -Started as Self Employment Loan Fund (SELF) 2001 -Became an independent 501 (c)(3) non-profit 2002 -Became a Community Development.

• 1994 -Started as Self Employment Loan Fund (SELF)

• 2001 -Became an independent 501 (c)(3) non-profit• 2002 -Became a Community Development Financial

Institution (CDFI) by the U.S. Treasury• 2003 -Change of name• To date• 2006 -Formed a Community Development Entity

COMMUNITY DEVELOPMENT RESOURCES

Page 3: Who is CDR?. 1994 -Started as Self Employment Loan Fund (SELF) 2001 -Became an independent 501 (c)(3) non-profit 2002 -Became a Community Development.

Financial Products

COMMUNITY DEVELOPMENT RESOURCES

•City Loan Funds (CDBG): rate 6-9%, 1 job created/$35,000 borrowed

•State Loan Funds (LB327 Evergreen Loan): rate 7-10%, micro-loan ($1,000-$35,000)

•Community/Equity Equivalent (EQ2): rate 6-9%, participating banks include Pinnacle Bank, US Bank and Wells Fargo Bank

•Small Business Association (SBA) Loan Funds: rate 6-9%, micro-loan ($1,000-$35,000), $100 annual administrative fee

Page 4: Who is CDR?. 1994 -Started as Self Employment Loan Fund (SELF) 2001 -Became an independent 501 (c)(3) non-profit 2002 -Became a Community Development.

Loan Requirements

COMMUNITY DEVELOPMENT RESOURCES

•Business Loan Application

•Personal financial Statement

•$20 Application Fee

•History of the business

•Resume or Management Summary of all principals

•Copy of Photo I.D. & Social Security Cards

•Personal tax returns for the last 2 years

•Business tax returns or financials (balance sheet and income statement) for the last 3 years

•Annual Projections; Existing business – 1year Start-up -3years

•If not a U.S. Citizen- copy of I-551 or I-94 card required

•If request is greater than $50,000- denial documentation from a bank

Page 5: Who is CDR?. 1994 -Started as Self Employment Loan Fund (SELF) 2001 -Became an independent 501 (c)(3) non-profit 2002 -Became a Community Development.

New Initiatives by CDR

COMMUNITY DEVELOPMENT RESOURCES

•Affordable Housing Initiatives (AHI)

•Nebraska New Market Resources, LLC (NNMR)

•Nebraska Community Capital Fund (NCCF)

Page 6: Who is CDR?. 1994 -Started as Self Employment Loan Fund (SELF) 2001 -Became an independent 501 (c)(3) non-profit 2002 -Became a Community Development.

How to Reach Us

COMMUNITY DEVELOPMENT RESOURCES

Community Development Resource

285 S. 68th Street Place, Suite 520

Lincoln, NE 68510

www.cdr-nebraska.org

•General Information: Rick Wallace, Executive Director: 402-436-2386, [email protected]•Loan Information: Brad From, Loan Officer: 402-436-2388, bfrom @cdr-nebraska.org•Housing Information: Julie Poykko-Post: 402-436-2435, [email protected]•Program Information: Jane Hardesty: 402-436-2387, [email protected]