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Ee slides wythe 04 10


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Ee slides wythe 04 10

  1. 1. People Incorporated Financial Services
  2. 3. <ul><li>Chartered in 1964 as first rural Community Action Agency in the United States </li></ul><ul><li>Offer a diverse range of development services and programs throughout Western Virginia </li></ul>
  3. 4. <ul><li>BusinesStart </li></ul><ul><li>Training and Technical Assistance </li></ul><ul><li>Consumer Loan Program </li></ul><ul><li>Ninth District Development Financing, Inc. </li></ul><ul><li>New Market Tax Credit Program </li></ul>
  4. 5. People Inc Financial Services <ul><li>Promotes economic self-sufficiency and a better quality of life for the region’s citizens through small business ownership, job creation, and asset development. </li></ul><ul><li>Provides business training, technical assistance, and makes business loans. </li></ul><ul><li>Partners with the local banking community and focuses services on customers who may not be eligible for bank financing. </li></ul>
  5. 6. BusinesStart <ul><li>Classes are offered to assist in educating the customer on Business Development. </li></ul><ul><li>Loans available up to $200,000 for start up or existing businesses. </li></ul><ul><li>Continuing assistance to customers once the business is up and running. </li></ul>
  6. 7. Training and Technical Assistance <ul><li>Business Basics Workshop </li></ul><ul><li>Core Four Business Planning Course </li></ul><ul><li>Customer Service Workshop </li></ul><ul><ul><li>with partner Virginia Tourism Cooperation </li></ul></ul><ul><li>Social Media Workshop- You-Link-Twit-Face </li></ul><ul><ul><li>with partners Virginia Dept of Business Assistance and </li></ul></ul><ul><ul><li>Virginia Tourism Corporation </li></ul></ul>
  7. 8. Consumer Loan Program <ul><li>Loans available up to $10,000 </li></ul><ul><li>Interest Rate = Prime + 5.0% </li></ul><ul><li>Terms up to 36 months </li></ul><ul><li>Credit problems understood </li></ul><ul><li>Loans must have collateral </li></ul><ul><li>Loans for: </li></ul><ul><ul><li>Home Improvements </li></ul></ul><ul><ul><li>Car Repairs </li></ul></ul><ul><ul><li>Payoff Payday Loans </li></ul></ul><ul><ul><li>Bill Consolidation </li></ul></ul>
  8. 9. NDDF Ninth District Development Financing, Inc. <ul><li>Loans for start up or expanding a tourism related business. </li></ul><ul><li>Business must be located within the 9 th congressional district of Virginia. </li></ul><ul><li>Interest rate = Prime Rate </li></ul><ul><li>Visit our website: </li></ul>
  9. 10. New Market Tax Credit <ul><li>The New Market Tax Credit Program (NMTC) is a community development lending tool designed to stimulate the flow of investment in underserved communities by creating new jobs and accelerating economic revitalization. </li></ul><ul><li>The program was created as a part of the Community Renewal Tax Relief Act of 2000 which encourages private capital investment in low income communities by providing a 39 percent federal tax credit to investors. </li></ul><ul><li>The program is based on the idea that there are viable business opportunities in low-income communities and that a federal tax credit would provide attractive incentive to increase the flow of investment capital to such areas. </li></ul>
  10. 11. Funding Partners <ul><li>Small Business Development (SBA) </li></ul><ul><li>Virginia Enterprise Initiative (VEI) </li></ul><ul><li>US Treasury </li></ul><ul><li>Virginia Tobacco Commission </li></ul><ul><li>Virginia Dept of Housing and Community Development </li></ul><ul><li>Virginia Community Capital (VCC) </li></ul><ul><li>FAHE </li></ul>
  11. 12. Contact Information <ul><li>Becky Nave </li></ul><ul><li>People Incorporated of Virginia </li></ul><ul><li>1173 West Main Street </li></ul><ul><li>Abingdon, VA 24210 </li></ul><ul><li>[email_address] </li></ul><ul><li>P: 276-619-2243 </li></ul>
  12. 13. Questions?