1 / 14

Rob Cerne, Owner Seascape Technologies

Rob Cerne, Owner Seascape Technologies. Intevation Food Group, Plover, Wisconsin. Community Development Financial Institutions (CDFI’s) Community Development Entities (CDE’s). Financing Resources.

Anita
Download Presentation

Rob Cerne, Owner Seascape Technologies

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Rob Cerne, Owner Seascape Technologies

  2. Intevation Food Group, Plover, Wisconsin

  3. Community Development Financial Institutions (CDFI’s) • Community Development Entities (CDE’s) Financing Resources

  4. US Treasury-certified specialized financial institution that works in market niches, often economically distressed areas • Include both regulated community development banks and credit unions & non-regulated institutions such as loan and venture capital funds Community Development Financial Institutions (CDFI’s)

  5. Wisconsin CDFI’s had more than $400 million in loans outstanding at the end of 2009. Examples include: Results.

  6. Northwest Side Community Development Corporation has lent more than $3.2 million, creating more than 500 jobs (Milwaukee) • Wisconsin Women’s Business Initiative Corporation – average loan created 2.7 jobs and retained 5.8 more Results…

  7. Forward Community Investments (statewide loan fund for non-profits) loans resulted in the development of 1,200 units of affordable housing and creation/retention of 3,000 jobs • Community Assets for People has lent more than $10 million in housing loans and $4.5 million in business loans Results

  8. Demand is high – • Community Assets for People – business loan portfolio of $6 million at the end of 2010 • $900,000 in business loans deployed in 2010; • Over $750,000 to date in 2011 with almost $800,000 in loans now in the pipeline • Since 1991, 590 households purchased homes with deferred loan of more than $10 million • Project to help an additional 20 in 2011. Demand for Capital

  9. The US Treasury – CDFI Fund 2011 Application Round – New Market Tax Credit Program • 14% increase in requests over 2010 • 314 applications, the most since 2002 when the program began • $26.7 billion in requests for $3.5 billion in resources – almost a 7 to 1! Demand for Capital

  10. The Wisconsin Legislature is moving forward on legislation (AB 211) that would create tax credits for investments in CDFi’s in Wisconsin. • Investments of at least $10,000 for 5 years would net a 10% tax credit (12% for investments of $150,000-$500,000) New Tools

  11. Starbucks – Create Jobs for USA. Americans themselves would invest in small business. Those who donate $5 or more get a red-white-blue wristband labeled “indivisable.” Starbucks will use CDFI’s as its financial partner. Starting off with a $5 million donation. New Tools

More Related