Who is CDR?. 1994 -Started as Self Employment Loan Fund (SELF) 2001 -Became an independent 501...
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Transcript of Who is CDR?. 1994 -Started as Self Employment Loan Fund (SELF) 2001 -Became an independent 501...
Who is CDR?
COMMUNITY DEVELOPMENT RESOURCES
• 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
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
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
New Initiatives by CDR
COMMUNITY DEVELOPMENT RESOURCES
•Affordable Housing Initiatives (AHI)
•Nebraska New Market Resources, LLC (NNMR)
•Nebraska Community Capital Fund (NCCF)
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]