washington area community investment fund celebrating 26 years
TRANSCRIPT
Washington Area Community
Investment Fund
Celebrating 26 Years
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
Small BusinessesAffordable Housing DevelopersChildcare CentersCommunity OrganizationsNon-profits
WACIF’s Clients and Services
Access to Capital Technical Assistance Free Seminar Series (legal, marketing, financing,
taxes etc…) Mentors
How does WACIF help?
WACIF’s Programs
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
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
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
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
Washington Area Community Investment Fund
Celebrating 26 Years
2012 Rhode Island Ave NE(202) 529 – 5505 - www.wacif.org