SlideShare a Scribd company logo
RethinkCleveland.com | 216.664.2406
National League of Cities: Microlending October 2014
www.RethinkCleveland.org | 216.664.2406
• How can we create an effective way to
generate economic opportunity for start-ups
and low-income individuals or businesses who
have limited access to financial services? Is
there a clearly identifiable need for funding?
www.RethinkCleveland.org | 216.664.2406
• Bring together banks, government lenders,
foundations and non-profits
• Create an ad hoc group to investigate
• Find an Expert Consultant to study the need
• Seek Foundation funding for a study
www.RethinkCleveland.org | 216.664.2406
• Foundations
• Government Lenders (City & County)
• Banks
• Federal Reserve Bank (served as convener)
• Non-Profits
– All believed we had a gap in available funding and
wanted to work towards the solution
www.RethinkCleveland.org | 216.664.2406
• $38 million funding gap identified
• ECDI selected as microlender in June 2012
• $4.1 million raised for loan pool
• Regional: $3.7 m in loans; 132 businesses; 280
jobs
• City: $1.8 million; 32 businesses; 95 jobs
• 60% women-owned; 38% minority owned
• 2,916 hours of training and TA provided
www.RethinkCleveland.org | 216.664.2406
• No CDFI in region that was performing
• Create a NEW CDFI or find an existing one
willing to expand
• A NEW CDFI could take years to be eligible for
federal funding
• Local non-profits wanted to become CDFI’s-
having to select experience over local partner
• Only 25% of loans in the City
www.RethinkCleveland.org | 216.664.2406
• Banks are interested in partnering as the size
of the loans and risk profiles make these deals
too difficult for their standard underwriting
• Banks can receive CRA credit for these
activities
• Foundations can help bring banks to table
• Of $4.1 million, Huntington Bank put in $2 m
www.RethinkCleveland.org | 216.664.2406
Tracey Nichols, Director
City of Cleveland, Department of Economic Development
601 Lakeside Avenue, Room 210
Cleveland, Ohio 44114
(216) 664-3611
www.Rethinkcleveland.org
For a copy of the Friedman Associates and Urban Oasis
“Cuyahoga County Microcredit Supply & Demand Analysis” study
& ECDI’s October 2014 report go to our website and click on
Media Center and “News” to find the article on National League
of Cities with links to these materials.

More Related Content

What's hot

Slides for scp study webinar 5.19.2013
Slides for scp study webinar 5.19.2013Slides for scp study webinar 5.19.2013
Slides for scp study webinar 5.19.2013
LCNovotny
 
Monthly Giving Raising Change: Monthly Giving
Monthly Giving Raising Change: Monthly GivingMonthly Giving Raising Change: Monthly Giving
Monthly Giving Raising Change: Monthly Giving
linds313
 
Fiscal sponsorship 101
Fiscal sponsorship 101Fiscal sponsorship 101
Fiscal sponsorship 101
Tivoni Devor
 
Secrets of the 2nd Gift – 
the Key to Donor Retention
Secrets of the 2nd Gift – 
the Key to Donor RetentionSecrets of the 2nd Gift – 
the Key to Donor Retention
Secrets of the 2nd Gift – 
the Key to Donor Retention
Bloomerang
 
Translating likes into actual engagement by Kelly Mercer
Translating likes into actual engagement by Kelly MercerTranslating likes into actual engagement by Kelly Mercer
Translating likes into actual engagement by Kelly Mercer
Jenny Kurzweil
 
Nmp 650- Elective Course NMP 661
Nmp 650- Elective Course NMP 661Nmp 650- Elective Course NMP 661
Nmp 650- Elective Course NMP 661
angjam1218
 
Fundraising
FundraisingFundraising
Can Open Data Unlock Fort Philanthropy?
Can Open Data Unlock Fort Philanthropy?Can Open Data Unlock Fort Philanthropy?
Can Open Data Unlock Fort Philanthropy?
Place2Give Foundation/Karma & Cents Inc.
 
SWOT's Up? How to Do a Strategic Self-Audit of Nonprofit Strengths & Weaknesses
SWOT's Up? How to Do a Strategic Self-Audit of Nonprofit Strengths & WeaknessesSWOT's Up? How to Do a Strategic Self-Audit of Nonprofit Strengths & Weaknesses
SWOT's Up? How to Do a Strategic Self-Audit of Nonprofit Strengths & Weaknesses
Bloomerang
 
Helpy
HelpyHelpy
Helpy
UNSW
 
Leveraging Business Intelligence in P2P Lending
Leveraging Business Intelligence in P2P LendingLeveraging Business Intelligence in P2P Lending
Leveraging Business Intelligence in P2P Lending
Denil Patel, MBA
 
Relating systems thinking and design within the charitable sector final
Relating systems thinking and design within the charitable sector finalRelating systems thinking and design within the charitable sector final
Relating systems thinking and design within the charitable sector final
Place2Give Foundation/Karma & Cents Inc.
 
LilliGifts
LilliGiftsLilliGifts
LilliGifts
Rishi
 
Accessing Money Locally, Strengthening Sector
Accessing Money Locally, Strengthening SectorAccessing Money Locally, Strengthening Sector
Accessing Money Locally, Strengthening Sector
ncvys
 
Oecd 2019 pf4 uncdf
Oecd 2019 pf4 uncdfOecd 2019 pf4 uncdf
Inaugural International Public Library Fundraising Conference: Major Capital ...
Inaugural International Public Library Fundraising Conference: Major Capital ...Inaugural International Public Library Fundraising Conference: Major Capital ...
Inaugural International Public Library Fundraising Conference: Major Capital ...
Brent Buechler
 
Pulaski County Brownfields ADEQ
Pulaski County Brownfields ADEQPulaski County Brownfields ADEQ
Pulaski County Brownfields ADEQ
Pulaski County Brownfields
 
Making an impact
Making an impactMaking an impact
Making an impact
kphodel
 

What's hot (18)

Slides for scp study webinar 5.19.2013
Slides for scp study webinar 5.19.2013Slides for scp study webinar 5.19.2013
Slides for scp study webinar 5.19.2013
 
Monthly Giving Raising Change: Monthly Giving
Monthly Giving Raising Change: Monthly GivingMonthly Giving Raising Change: Monthly Giving
Monthly Giving Raising Change: Monthly Giving
 
Fiscal sponsorship 101
Fiscal sponsorship 101Fiscal sponsorship 101
Fiscal sponsorship 101
 
Secrets of the 2nd Gift – 
the Key to Donor Retention
Secrets of the 2nd Gift – 
the Key to Donor RetentionSecrets of the 2nd Gift – 
the Key to Donor Retention
Secrets of the 2nd Gift – 
the Key to Donor Retention
 
Translating likes into actual engagement by Kelly Mercer
Translating likes into actual engagement by Kelly MercerTranslating likes into actual engagement by Kelly Mercer
Translating likes into actual engagement by Kelly Mercer
 
Nmp 650- Elective Course NMP 661
Nmp 650- Elective Course NMP 661Nmp 650- Elective Course NMP 661
Nmp 650- Elective Course NMP 661
 
Fundraising
FundraisingFundraising
Fundraising
 
Can Open Data Unlock Fort Philanthropy?
Can Open Data Unlock Fort Philanthropy?Can Open Data Unlock Fort Philanthropy?
Can Open Data Unlock Fort Philanthropy?
 
SWOT's Up? How to Do a Strategic Self-Audit of Nonprofit Strengths & Weaknesses
SWOT's Up? How to Do a Strategic Self-Audit of Nonprofit Strengths & WeaknessesSWOT's Up? How to Do a Strategic Self-Audit of Nonprofit Strengths & Weaknesses
SWOT's Up? How to Do a Strategic Self-Audit of Nonprofit Strengths & Weaknesses
 
Helpy
HelpyHelpy
Helpy
 
Leveraging Business Intelligence in P2P Lending
Leveraging Business Intelligence in P2P LendingLeveraging Business Intelligence in P2P Lending
Leveraging Business Intelligence in P2P Lending
 
Relating systems thinking and design within the charitable sector final
Relating systems thinking and design within the charitable sector finalRelating systems thinking and design within the charitable sector final
Relating systems thinking and design within the charitable sector final
 
LilliGifts
LilliGiftsLilliGifts
LilliGifts
 
Accessing Money Locally, Strengthening Sector
Accessing Money Locally, Strengthening SectorAccessing Money Locally, Strengthening Sector
Accessing Money Locally, Strengthening Sector
 
Oecd 2019 pf4 uncdf
Oecd 2019 pf4 uncdfOecd 2019 pf4 uncdf
Oecd 2019 pf4 uncdf
 
Inaugural International Public Library Fundraising Conference: Major Capital ...
Inaugural International Public Library Fundraising Conference: Major Capital ...Inaugural International Public Library Fundraising Conference: Major Capital ...
Inaugural International Public Library Fundraising Conference: Major Capital ...
 
Pulaski County Brownfields ADEQ
Pulaski County Brownfields ADEQPulaski County Brownfields ADEQ
Pulaski County Brownfields ADEQ
 
Making an impact
Making an impactMaking an impact
Making an impact
 

Viewers also liked

Big Ideas for Small Business: Chapter 187A
Big Ideas for Small Business: Chapter 187ABig Ideas for Small Business: Chapter 187A
Big Ideas for Small Business: Chapter 187A
CleEconomicDevelopment
 
Big Ideas for Small Business: Urban Agriculture/Gardening for Greenbacks
Big Ideas for Small Business: Urban Agriculture/Gardening for GreenbacksBig Ideas for Small Business: Urban Agriculture/Gardening for Greenbacks
Big Ideas for Small Business: Urban Agriculture/Gardening for Greenbacks
CleEconomicDevelopment
 
Big Ideas for Small Business: Chapter 187
Big Ideas for Small Business: Chapter 187Big Ideas for Small Business: Chapter 187
Big Ideas for Small Business: Chapter 187
CleEconomicDevelopment
 
Big Ideas for Small Business: Chapter 188
Big Ideas for Small Business: Chapter 188Big Ideas for Small Business: Chapter 188
Big Ideas for Small Business: Chapter 188
CleEconomicDevelopment
 
Big Ideas for Small Business: Chapter 189
Big Ideas for Small Business: Chapter 189Big Ideas for Small Business: Chapter 189
Big Ideas for Small Business: Chapter 189
CleEconomicDevelopment
 
Big Ideas for Small Business: Growing Cleveland
Big Ideas for Small Business: Growing ClevelandBig Ideas for Small Business: Growing Cleveland
Big Ideas for Small Business: Growing Cleveland
CleEconomicDevelopment
 
Big Ideas for Small Business: NERA Disparity Study- City of Cleveland
Big Ideas for Small Business: NERA Disparity Study- City of ClevelandBig Ideas for Small Business: NERA Disparity Study- City of Cleveland
Big Ideas for Small Business: NERA Disparity Study- City of Cleveland
CleEconomicDevelopment
 

Viewers also liked (7)

Big Ideas for Small Business: Chapter 187A
Big Ideas for Small Business: Chapter 187ABig Ideas for Small Business: Chapter 187A
Big Ideas for Small Business: Chapter 187A
 
Big Ideas for Small Business: Urban Agriculture/Gardening for Greenbacks
Big Ideas for Small Business: Urban Agriculture/Gardening for GreenbacksBig Ideas for Small Business: Urban Agriculture/Gardening for Greenbacks
Big Ideas for Small Business: Urban Agriculture/Gardening for Greenbacks
 
Big Ideas for Small Business: Chapter 187
Big Ideas for Small Business: Chapter 187Big Ideas for Small Business: Chapter 187
Big Ideas for Small Business: Chapter 187
 
Big Ideas for Small Business: Chapter 188
Big Ideas for Small Business: Chapter 188Big Ideas for Small Business: Chapter 188
Big Ideas for Small Business: Chapter 188
 
Big Ideas for Small Business: Chapter 189
Big Ideas for Small Business: Chapter 189Big Ideas for Small Business: Chapter 189
Big Ideas for Small Business: Chapter 189
 
Big Ideas for Small Business: Growing Cleveland
Big Ideas for Small Business: Growing ClevelandBig Ideas for Small Business: Growing Cleveland
Big Ideas for Small Business: Growing Cleveland
 
Big Ideas for Small Business: NERA Disparity Study- City of Cleveland
Big Ideas for Small Business: NERA Disparity Study- City of ClevelandBig Ideas for Small Business: NERA Disparity Study- City of Cleveland
Big Ideas for Small Business: NERA Disparity Study- City of Cleveland
 

Similar to National League of Cities: Director Tracey Nichols presents, "The Need for Microlending"

Finding Funding - KINvention - August 2012
Finding Funding - KINvention - August 2012Finding Funding - KINvention - August 2012
Finding Funding - KINvention - August 2012
njdrake
 
Economic Development 101
Economic Development 101Economic Development 101
Economic Development 101
Vierbicher
 
KSBDC Louisville Funding Sources for Business
KSBDC Louisville Funding Sources for BusinessKSBDC Louisville Funding Sources for Business
KSBDC Louisville Funding Sources for Business
Kentucky Small Business Development Center
 
Selected Slides Presentation 2015
Selected Slides Presentation 2015Selected Slides Presentation 2015
Selected Slides Presentation 2015
Jim Rowe
 
2014 2015 Community Impact Report
2014 2015 Community Impact Report2014 2015 Community Impact Report
2014 2015 Community Impact Report
Tricia Simons
 
Knowledge Bites: Using Market Data to Guide Rural Economic Development
Knowledge Bites: Using Market Data to Guide Rural Economic Development Knowledge Bites: Using Market Data to Guide Rural Economic Development
Knowledge Bites: Using Market Data to Guide Rural Economic Development
Alexandra Tranmer
 
2013 Rotary Matching Grant Writing Seminar
2013 Rotary Matching Grant Writing Seminar 2013 Rotary Matching Grant Writing Seminar
2013 Rotary Matching Grant Writing Seminar
Walter Hughes, Jr.
 
Wesenberg for South Africa (credit unions)
Wesenberg for South Africa (credit unions)Wesenberg for South Africa (credit unions)
Wesenberg for South Africa (credit unions)
Kevin Mokamba
 
Creative Investing to Make a Difference: Finance Strategies for Community Change
Creative Investing to Make a Difference: Finance Strategies for Community ChangeCreative Investing to Make a Difference: Finance Strategies for Community Change
Creative Investing to Make a Difference: Finance Strategies for Community Change
The Annie E. Casey Foundation
 
2012 09-17 - eau claire power2give site demo
2012 09-17 - eau claire power2give site demo2012 09-17 - eau claire power2give site demo
2012 09-17 - eau claire power2give site demo
ecrac
 
PNC Presentation
PNC PresentationPNC Presentation
PNC Presentation
Brenda Jansen
 
How to Initiate and Manage Microfinance Projects
How to Initiate and Manage Microfinance ProjectsHow to Initiate and Manage Microfinance Projects
How to Initiate and Manage Microfinance Projects
Rotary International
 
Urban finance for local groups for the Sustainable Development Goals (SDGs)
Urban finance for local groups for the Sustainable Development Goals (SDGs)Urban finance for local groups for the Sustainable Development Goals (SDGs)
Urban finance for local groups for the Sustainable Development Goals (SDGs)
IIED
 
About TREC Community Fund
About TREC Community FundAbout TREC Community Fund
About TREC Community Fund
TRECDallas
 
Microfinance in srilanaka
Microfinance in srilanakaMicrofinance in srilanaka
Microfinance in srilanaka
Navindu saranga
 
Building the sunshine children’s home
Building the sunshine children’s homeBuilding the sunshine children’s home
Building the sunshine children’s home
On a Shoestring Marketing
 
Tool Kit
Tool KitTool Kit
Tool Kit
Paula Jensen
 
Grant Writing & Funding Opportunities for Town and Parish Councils by Mike De...
Grant Writing & Funding Opportunities for Town and Parish Councils by Mike De...Grant Writing & Funding Opportunities for Town and Parish Councils by Mike De...
Grant Writing & Funding Opportunities for Town and Parish Councils by Mike De...
Scribe
 
Organizational Endowments
Organizational EndowmentsOrganizational Endowments
Organizational Endowments
lpomara
 
12.13.13 real property law institute
12.13.13 real property law institute12.13.13 real property law institute
12.13.13 real property law institute
The Port
 

Similar to National League of Cities: Director Tracey Nichols presents, "The Need for Microlending" (20)

Finding Funding - KINvention - August 2012
Finding Funding - KINvention - August 2012Finding Funding - KINvention - August 2012
Finding Funding - KINvention - August 2012
 
Economic Development 101
Economic Development 101Economic Development 101
Economic Development 101
 
KSBDC Louisville Funding Sources for Business
KSBDC Louisville Funding Sources for BusinessKSBDC Louisville Funding Sources for Business
KSBDC Louisville Funding Sources for Business
 
Selected Slides Presentation 2015
Selected Slides Presentation 2015Selected Slides Presentation 2015
Selected Slides Presentation 2015
 
2014 2015 Community Impact Report
2014 2015 Community Impact Report2014 2015 Community Impact Report
2014 2015 Community Impact Report
 
Knowledge Bites: Using Market Data to Guide Rural Economic Development
Knowledge Bites: Using Market Data to Guide Rural Economic Development Knowledge Bites: Using Market Data to Guide Rural Economic Development
Knowledge Bites: Using Market Data to Guide Rural Economic Development
 
2013 Rotary Matching Grant Writing Seminar
2013 Rotary Matching Grant Writing Seminar 2013 Rotary Matching Grant Writing Seminar
2013 Rotary Matching Grant Writing Seminar
 
Wesenberg for South Africa (credit unions)
Wesenberg for South Africa (credit unions)Wesenberg for South Africa (credit unions)
Wesenberg for South Africa (credit unions)
 
Creative Investing to Make a Difference: Finance Strategies for Community Change
Creative Investing to Make a Difference: Finance Strategies for Community ChangeCreative Investing to Make a Difference: Finance Strategies for Community Change
Creative Investing to Make a Difference: Finance Strategies for Community Change
 
2012 09-17 - eau claire power2give site demo
2012 09-17 - eau claire power2give site demo2012 09-17 - eau claire power2give site demo
2012 09-17 - eau claire power2give site demo
 
PNC Presentation
PNC PresentationPNC Presentation
PNC Presentation
 
How to Initiate and Manage Microfinance Projects
How to Initiate and Manage Microfinance ProjectsHow to Initiate and Manage Microfinance Projects
How to Initiate and Manage Microfinance Projects
 
Urban finance for local groups for the Sustainable Development Goals (SDGs)
Urban finance for local groups for the Sustainable Development Goals (SDGs)Urban finance for local groups for the Sustainable Development Goals (SDGs)
Urban finance for local groups for the Sustainable Development Goals (SDGs)
 
About TREC Community Fund
About TREC Community FundAbout TREC Community Fund
About TREC Community Fund
 
Microfinance in srilanaka
Microfinance in srilanakaMicrofinance in srilanaka
Microfinance in srilanaka
 
Building the sunshine children’s home
Building the sunshine children’s homeBuilding the sunshine children’s home
Building the sunshine children’s home
 
Tool Kit
Tool KitTool Kit
Tool Kit
 
Grant Writing & Funding Opportunities for Town and Parish Councils by Mike De...
Grant Writing & Funding Opportunities for Town and Parish Councils by Mike De...Grant Writing & Funding Opportunities for Town and Parish Councils by Mike De...
Grant Writing & Funding Opportunities for Town and Parish Councils by Mike De...
 
Organizational Endowments
Organizational EndowmentsOrganizational Endowments
Organizational Endowments
 
12.13.13 real property law institute
12.13.13 real property law institute12.13.13 real property law institute
12.13.13 real property law institute
 

Recently uploaded

About Potato, The scientific name of the plant is Solanum tuberosum (L).
About Potato, The scientific name of the plant is Solanum tuberosum (L).About Potato, The scientific name of the plant is Solanum tuberosum (L).
About Potato, The scientific name of the plant is Solanum tuberosum (L).
Christina Parmionova
 
Border towns and spaces of (in)visibility.pdf
Border towns and spaces of (in)visibility.pdfBorder towns and spaces of (in)visibility.pdf
Border towns and spaces of (in)visibility.pdf
Scalabrini Institute for Human Mobility in Africa
 
Item #s 8&9 -- Demolition Code Amendment
Item #s 8&9 -- Demolition Code AmendmentItem #s 8&9 -- Demolition Code Amendment
Item #s 8&9 -- Demolition Code Amendment
ahcitycouncil
 
PPT Item # 7 - 231 Encino Avenue (sign. review)
PPT Item # 7 - 231 Encino Avenue (sign. review)PPT Item # 7 - 231 Encino Avenue (sign. review)
PPT Item # 7 - 231 Encino Avenue (sign. review)
ahcitycouncil
 
United Nations World Oceans Day 2024; June 8th " Awaken new dephts".
United Nations World Oceans Day 2024; June 8th " Awaken new dephts".United Nations World Oceans Day 2024; June 8th " Awaken new dephts".
United Nations World Oceans Day 2024; June 8th " Awaken new dephts".
Christina Parmionova
 
A proposed request for information on LIHTC
A proposed request for information on LIHTCA proposed request for information on LIHTC
A proposed request for information on LIHTC
Roger Valdez
 
AHMR volume 10 number 1 January-April 2024
AHMR volume 10 number 1 January-April 2024AHMR volume 10 number 1 January-April 2024
AHMR volume 10 number 1 January-April 2024
Scalabrini Institute for Human Mobility in Africa
 
加急办理华威大学毕业证硕士文凭证书原版一模一样
加急办理华威大学毕业证硕士文凭证书原版一模一样加急办理华威大学毕业证硕士文凭证书原版一模一样
加急办理华威大学毕业证硕士文凭证书原版一模一样
uu1psyf6
 
IEA World Energy Investment June 2024- Statistics
IEA World Energy Investment June 2024- StatisticsIEA World Energy Investment June 2024- Statistics
IEA World Energy Investment June 2024- Statistics
Energy for One World
 
2024: The FAR - Federal Acquisition Regulations, Part 40
2024: The FAR - Federal Acquisition Regulations, Part 402024: The FAR - Federal Acquisition Regulations, Part 40
2024: The FAR - Federal Acquisition Regulations, Part 40
JSchaus & Associates
 
PPT Item # 4 - 434 College Blvd. (sign. review)
PPT Item # 4 - 434 College Blvd. (sign. review)PPT Item # 4 - 434 College Blvd. (sign. review)
PPT Item # 4 - 434 College Blvd. (sign. review)
ahcitycouncil
 
Antyodaya saral portal haryana govt schemes
Antyodaya saral portal haryana govt schemesAntyodaya saral portal haryana govt schemes
Antyodaya saral portal haryana govt schemes
narinav14
 
CFYT Rolling Ads Dawson City Yukon Canada
CFYT Rolling Ads Dawson City Yukon CanadaCFYT Rolling Ads Dawson City Yukon Canada
CFYT Rolling Ads Dawson City Yukon Canada
pmenzies
 
Milton Keynes Hospital Charity - A guide to leaving a gift in your Will
Milton Keynes Hospital Charity - A guide to leaving a gift in your WillMilton Keynes Hospital Charity - A guide to leaving a gift in your Will
Milton Keynes Hospital Charity - A guide to leaving a gift in your Will
fundraising4
 
原版制作(DPU毕业证书)德保罗大学毕业证Offer一模一样
原版制作(DPU毕业证书)德保罗大学毕业证Offer一模一样原版制作(DPU毕业证书)德保罗大学毕业证Offer一模一样
原版制作(DPU毕业证书)德保罗大学毕业证Offer一模一样
yemqpj
 
Item # 10 -- Historical Presv. Districts
Item # 10 -- Historical Presv. DistrictsItem # 10 -- Historical Presv. Districts
Item # 10 -- Historical Presv. Districts
ahcitycouncil
 
Preliminary findings _OECD field visits to ten regions in the TSI EU mining r...
Preliminary findings _OECD field visits to ten regions in the TSI EU mining r...Preliminary findings _OECD field visits to ten regions in the TSI EU mining r...
Preliminary findings _OECD field visits to ten regions in the TSI EU mining r...
OECDregions
 
Abiy Berehe - Texas Commission on Environmental Quality Updates
Abiy Berehe - Texas Commission on Environmental Quality UpdatesAbiy Berehe - Texas Commission on Environmental Quality Updates
Abiy Berehe - Texas Commission on Environmental Quality Updates
Texas Alliance of Groundwater Districts
 
Texas Water Development Board Updates June 2024
Texas Water Development Board Updates June 2024Texas Water Development Board Updates June 2024
Texas Water Development Board Updates June 2024
Texas Alliance of Groundwater Districts
 
Bangladesh studies presentation on Liberation War 1971 Indepence-of-Banglades...
Bangladesh studies presentation on Liberation War 1971 Indepence-of-Banglades...Bangladesh studies presentation on Liberation War 1971 Indepence-of-Banglades...
Bangladesh studies presentation on Liberation War 1971 Indepence-of-Banglades...
ssuser05e8f3
 

Recently uploaded (20)

About Potato, The scientific name of the plant is Solanum tuberosum (L).
About Potato, The scientific name of the plant is Solanum tuberosum (L).About Potato, The scientific name of the plant is Solanum tuberosum (L).
About Potato, The scientific name of the plant is Solanum tuberosum (L).
 
Border towns and spaces of (in)visibility.pdf
Border towns and spaces of (in)visibility.pdfBorder towns and spaces of (in)visibility.pdf
Border towns and spaces of (in)visibility.pdf
 
Item #s 8&9 -- Demolition Code Amendment
Item #s 8&9 -- Demolition Code AmendmentItem #s 8&9 -- Demolition Code Amendment
Item #s 8&9 -- Demolition Code Amendment
 
PPT Item # 7 - 231 Encino Avenue (sign. review)
PPT Item # 7 - 231 Encino Avenue (sign. review)PPT Item # 7 - 231 Encino Avenue (sign. review)
PPT Item # 7 - 231 Encino Avenue (sign. review)
 
United Nations World Oceans Day 2024; June 8th " Awaken new dephts".
United Nations World Oceans Day 2024; June 8th " Awaken new dephts".United Nations World Oceans Day 2024; June 8th " Awaken new dephts".
United Nations World Oceans Day 2024; June 8th " Awaken new dephts".
 
A proposed request for information on LIHTC
A proposed request for information on LIHTCA proposed request for information on LIHTC
A proposed request for information on LIHTC
 
AHMR volume 10 number 1 January-April 2024
AHMR volume 10 number 1 January-April 2024AHMR volume 10 number 1 January-April 2024
AHMR volume 10 number 1 January-April 2024
 
加急办理华威大学毕业证硕士文凭证书原版一模一样
加急办理华威大学毕业证硕士文凭证书原版一模一样加急办理华威大学毕业证硕士文凭证书原版一模一样
加急办理华威大学毕业证硕士文凭证书原版一模一样
 
IEA World Energy Investment June 2024- Statistics
IEA World Energy Investment June 2024- StatisticsIEA World Energy Investment June 2024- Statistics
IEA World Energy Investment June 2024- Statistics
 
2024: The FAR - Federal Acquisition Regulations, Part 40
2024: The FAR - Federal Acquisition Regulations, Part 402024: The FAR - Federal Acquisition Regulations, Part 40
2024: The FAR - Federal Acquisition Regulations, Part 40
 
PPT Item # 4 - 434 College Blvd. (sign. review)
PPT Item # 4 - 434 College Blvd. (sign. review)PPT Item # 4 - 434 College Blvd. (sign. review)
PPT Item # 4 - 434 College Blvd. (sign. review)
 
Antyodaya saral portal haryana govt schemes
Antyodaya saral portal haryana govt schemesAntyodaya saral portal haryana govt schemes
Antyodaya saral portal haryana govt schemes
 
CFYT Rolling Ads Dawson City Yukon Canada
CFYT Rolling Ads Dawson City Yukon CanadaCFYT Rolling Ads Dawson City Yukon Canada
CFYT Rolling Ads Dawson City Yukon Canada
 
Milton Keynes Hospital Charity - A guide to leaving a gift in your Will
Milton Keynes Hospital Charity - A guide to leaving a gift in your WillMilton Keynes Hospital Charity - A guide to leaving a gift in your Will
Milton Keynes Hospital Charity - A guide to leaving a gift in your Will
 
原版制作(DPU毕业证书)德保罗大学毕业证Offer一模一样
原版制作(DPU毕业证书)德保罗大学毕业证Offer一模一样原版制作(DPU毕业证书)德保罗大学毕业证Offer一模一样
原版制作(DPU毕业证书)德保罗大学毕业证Offer一模一样
 
Item # 10 -- Historical Presv. Districts
Item # 10 -- Historical Presv. DistrictsItem # 10 -- Historical Presv. Districts
Item # 10 -- Historical Presv. Districts
 
Preliminary findings _OECD field visits to ten regions in the TSI EU mining r...
Preliminary findings _OECD field visits to ten regions in the TSI EU mining r...Preliminary findings _OECD field visits to ten regions in the TSI EU mining r...
Preliminary findings _OECD field visits to ten regions in the TSI EU mining r...
 
Abiy Berehe - Texas Commission on Environmental Quality Updates
Abiy Berehe - Texas Commission on Environmental Quality UpdatesAbiy Berehe - Texas Commission on Environmental Quality Updates
Abiy Berehe - Texas Commission on Environmental Quality Updates
 
Texas Water Development Board Updates June 2024
Texas Water Development Board Updates June 2024Texas Water Development Board Updates June 2024
Texas Water Development Board Updates June 2024
 
Bangladesh studies presentation on Liberation War 1971 Indepence-of-Banglades...
Bangladesh studies presentation on Liberation War 1971 Indepence-of-Banglades...Bangladesh studies presentation on Liberation War 1971 Indepence-of-Banglades...
Bangladesh studies presentation on Liberation War 1971 Indepence-of-Banglades...
 

National League of Cities: Director Tracey Nichols presents, "The Need for Microlending"

  • 1. RethinkCleveland.com | 216.664.2406 National League of Cities: Microlending October 2014
  • 2. www.RethinkCleveland.org | 216.664.2406 • How can we create an effective way to generate economic opportunity for start-ups and low-income individuals or businesses who have limited access to financial services? Is there a clearly identifiable need for funding?
  • 3. www.RethinkCleveland.org | 216.664.2406 • Bring together banks, government lenders, foundations and non-profits • Create an ad hoc group to investigate • Find an Expert Consultant to study the need • Seek Foundation funding for a study
  • 4. www.RethinkCleveland.org | 216.664.2406 • Foundations • Government Lenders (City & County) • Banks • Federal Reserve Bank (served as convener) • Non-Profits – All believed we had a gap in available funding and wanted to work towards the solution
  • 5. www.RethinkCleveland.org | 216.664.2406 • $38 million funding gap identified • ECDI selected as microlender in June 2012 • $4.1 million raised for loan pool • Regional: $3.7 m in loans; 132 businesses; 280 jobs • City: $1.8 million; 32 businesses; 95 jobs • 60% women-owned; 38% minority owned • 2,916 hours of training and TA provided
  • 6. www.RethinkCleveland.org | 216.664.2406 • No CDFI in region that was performing • Create a NEW CDFI or find an existing one willing to expand • A NEW CDFI could take years to be eligible for federal funding • Local non-profits wanted to become CDFI’s- having to select experience over local partner • Only 25% of loans in the City
  • 7. www.RethinkCleveland.org | 216.664.2406 • Banks are interested in partnering as the size of the loans and risk profiles make these deals too difficult for their standard underwriting • Banks can receive CRA credit for these activities • Foundations can help bring banks to table • Of $4.1 million, Huntington Bank put in $2 m
  • 8. www.RethinkCleveland.org | 216.664.2406 Tracey Nichols, Director City of Cleveland, Department of Economic Development 601 Lakeside Avenue, Room 210 Cleveland, Ohio 44114 (216) 664-3611 www.Rethinkcleveland.org For a copy of the Friedman Associates and Urban Oasis “Cuyahoga County Microcredit Supply & Demand Analysis” study & ECDI’s October 2014 report go to our website and click on Media Center and “News” to find the article on National League of Cities with links to these materials.