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Alternative Sources of Funding | WACIF

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WACIF presented at the Washington, DC Economic Partnership's (WDCEP) & Small Business Administration's (SBA) Alternative Sources of Funding event held on September 26, 2013. WACIF is a nonprofit …

WACIF presented at the Washington, DC Economic Partnership's (WDCEP) & Small Business Administration's (SBA) Alternative Sources of Funding event held on September 26, 2013. WACIF is a nonprofit community development loan fund whose mission is to empower underserved communities and individuals in the by providing access to capital and technical assistance.

Published in: Business, Economy & Finance

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  • Provides technical and financial assistance to organizations seeking to create/retain affordable housing units in the DC Metropolitan Area.
  • Provides technical and financial assistance to organizations seeking to create/retain affordable housing units in the DC Metropolitan Area.
  • Financing nonprofit developers working to create/retain affordable housing and foster economic revitalization in their neighbouuurhoods.
  • Financing nonprofit developers working to create/retain affordable housing and foster economic revitalization in their neighbouuurhoods.
  • Financing nonprofit developers working to create/retain affordable housing and foster economic revitalization in their neighbouuurhoods.
  • Financing nonprofit developers working to create/retain affordable housing and foster economic revitalization in their neighbouuurhoods.
  • Financing nonprofit developers working to create/retain affordable housing and foster economic revitalization in their neighbouuurhoods.
  • Transcript

    • 1. Washington Area Community Investment Fund Celebrating 26 Years
    • 2. ∗ WACIF is a nonprofit community development loan fund whose mission is to empower underserved communities and individuals in the by providing access to capital and technical assistance to… WACIF’s Mission - Smith and Sons, LLC
    • 3. ∗ Small Businesses ∗ Affordable Housing Developers ∗ Childcare Centers ∗ Community Organizations ∗ Non-profits WACIF’s Clients and Services
    • 4. ∗ Access to Capital ∗ Technical Assistance ∗ Free Seminar Series (legal, marketing, financing, taxes etc…) ∗ Mentors How does WACIF help? WACIF’s Programs
    • 5. ∗ WACIF’s Access to Capital Loan fund ∗ SBA Micro-Loan Fund ∗ CBE Microloan Fund ∗ Streetscape Relief Loan Fund ∗ Bank Partners ∗ Community Development VCs WACIF and Access to Capital
    • 6. ∗ Deliberately ∗ The ‘craft’ brewers of the lending world ∗ Judiciously ∗ Sources of capital are limited, thus loans are limited ∗ Normally, less than 5% of clients get approved for loans ∗ 96% Loan Repayment Rate ∗ Non-traditionally ∗ Much different risk profile than most debt financiers How WACIF Lends Money
    • 7. ∗ Intake form on www.wacif.org ∗ Business Evaluation by WACIF staff ∗ Request for application ∗ Prepare your financials ∗ Prepare your plan ∗ Prepare to pay us back How to Apply
    • 8. ∗ Provided technical assistance to more than 500 individuals and entrepreneurs ∗ Packaged 44 loans or equity investments in the amount of $2.6 million to low- moderate income business owners ∗ Conducted 35 group technical assistance seminars ∗ Packaged and financed 3 low-moderate income tenant association purchases ∗ Held 13 Loan Days to connect small businesses to bankers ∗ Performed over 60 financial needs assessments ∗ 15 new investors in WACIF’s Access to Capital Loan Fund 2012 Highlights! WACIF’s Year-End
    • 9. Washington Area Community Investment Fund Celebrating 26 Years 2012 Rhode Island Ave NE (202) 529 – 5505 - www.wacif.org
    • 10. Washington Area Community Investment Fund Celebrating 26 Years 2012 Rhode Island Ave NE (202) 529 – 5505 - www.wacif.org