Rob cerne owner seascape technologies
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Rob Cerne, Owner Seascape Technologies. Intevation Food Group, Plover, Wisconsin. Community Development Financial Institutions (CDFI’s) Community Development Entities (CDE’s). Financing Resources.

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Rob Cerne, Owner Seascape Technologies

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Rob cerne owner seascape technologies

Rob Cerne, Owner

Seascape Technologies


Rob cerne owner seascape technologies

Intevation Food Group, Plover, Wisconsin


Financing resources

  • Community Development Financial Institutions (CDFI’s)

  • Community Development Entities (CDE’s)

Financing Resources


Community development financial institutions cdfi s

  • US Treasury-certified specialized financial institution that works in market niches, often economically distressed areas

  • Include both regulated community development banks and credit unions & non-regulated institutions such as loan and venture capital funds

Community Development Financial Institutions (CDFI’s)


Results

Wisconsin CDFI’s had more than $400 million in loans outstanding at the end of 2009. Examples include:

Results.


Results1

  • Northwest Side Community Development Corporation has lent more than $3.2 million, creating more than 500 jobs (Milwaukee)

  • Wisconsin Women’s Business Initiative Corporation – average loan

    created 2.7 jobs and

    retained 5.8 more

Results…


Results2

  • Forward Community Investments (statewide loan fund for non-profits) loans resulted in the development of 1,200 units of affordable housing and creation/retention of 3,000 jobs

  • Community Assets for People has lent more than $10 million in housing loans and $4.5 million in business loans

Results


Demand for capital

  • Demand is high –

    • Community Assets for People – business loan portfolio of $6 million at the end of 2010

    • $900,000 in business loans deployed in 2010;

    • Over $750,000 to date in 2011 with almost $800,000 in loans now in the pipeline

    • Since 1991, 590 households purchased homes with deferred loan of more than $10 million

    • Project to help an additional 20 in 2011.

Demand for Capital


Demand for capital1

The US Treasury – CDFI Fund 2011 Application Round – New Market Tax Credit Program

  • 14% increase in requests over 2010

  • 314 applications, the most since 2002 when the program began

  • $26.7 billion in requests for $3.5 billion in resources – almost a 7 to 1!

Demand for Capital


New tools

  • The Wisconsin Legislature is moving forward on legislation (AB 211) that would create tax credits for investments in CDFi’s in Wisconsin.

  • Investments of at least $10,000 for 5 years would net a 10% tax credit (12% for investments of $150,000-$500,000)

New Tools


New tools1

  • Starbucks – Create Jobs for USA.

    Americans themselves would invest in small business. Those who donate $5 or more get a red-white-blue wristband labeled “indivisable.”

    Starbucks will use CDFI’s as its financial partner. Starting off with

    a $5 million donation.

New Tools


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