Washington Area Community Investment Fund

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Transcript Washington Area Community Investment Fund

Washington Area
Community Investment
Celebrating 26 Years
WACIF’s Mission
 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…
- Smith and Sons, LLC
WACIF’s Clients and Services
 Small Businesses
 Affordable Housing Developers
 Childcare Centers
 Community Organizations
 Non-profits
WACIF’s Programs
How does WACIF help?
Access to Capital
Technical Assistance
Free Seminar Series (legal, marketing, financing, taxes etc…)
WACIF and Access to Capital
WACIF’s Access to Capital Loan fund
SBA Micro-Loan Fund
CBE Microloan Fund
Streetscape Relief Loan Fund
Bank Partners
Community Development VCs
How WACIF Lends Money
 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 to Apply
 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
WACIF’s Year-End
2012 Highlights!
 Provided technical assistance to more than 500 individuals and entrepreneurs
 Packaged 44 loans or equity investments in the amount of $2.6 million to lowmoderate 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
Washington Area Community
Investment Fund
Celebrating 26 Years
2012 Rhode Island Ave NE
(202) 529 – 5505 - www.wacif.org