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Who is CDR?

Who is CDR?. 1994 -Started as Self Employment Loan Fund (SELF) 2001 -Became an independent 501 (c)(3) non-profit 2002 -Became a Community Development Financial Institution (CDFI) by the U.S. Treasury 2003 -Change of name To date 2006 -Formed a Community Development Entity.

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Who is CDR?

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  1. Who is CDR?

  2. 1994 -Started as Self Employment Loan Fund (SELF) • 2001 -Became an independent 501 (c)(3) non-profit • 2002 -Became a Community Development Financial Institution (CDFI) by the U.S. Treasury • 2003 -Change of name • To date • 2006 -Formed a Community Development Entity

  3. Financial Products • City Loan Funds (CDBG): rate 6-9%, 1 job created/$35,000 borrowed • State Loan Funds (LB327 Evergreen Loan): rate 7-10%, micro-loan ($1,000-$35,000) • Community/Equity Equivalent (EQ2): rate 6-9%, participating banks include Pinnacle Bank, US Bank and Wells Fargo Bank • Small Business Association (SBA) Loan Funds: rate 6-9%, micro-loan ($1,000-$35,000), $100 annual administrative fee

  4. Loan Requirements • Business Loan Application • Personal financial Statement • $20 Application Fee • History of the business • Resume or Management Summary of all principals • Copy of Photo I.D. & Social Security Cards • Personal tax returns for the last 2 years • Business tax returns or financials (balance sheet and income statement) for the last 3 years • Annual Projections; Existing business – 1year Start-up -3years • If not a U.S. Citizen- copy of I-551 or I-94 card required • If request is greater than $50,000- denial documentation from a bank

  5. New Initiatives by CDR • Affordable Housing Initiatives (AHI) • Nebraska New Market Resources, LLC (NNMR) • Nebraska Community Capital Fund (NCCF)

  6. How to Reach Us Community Development Resource 285 S. 68th Street Place, Suite 520 Lincoln, NE 68510 www.cdr-nebraska.org • General Information: Rick Wallace, Executive Director: 402-436-2386, rwallace@cdr-nebraska.org • Loan Information: Brad From, Loan Officer: 402-436-2388, bfrom @cdr-nebraska.org • Housing Information: Julie Poykko-Post: 402-436-2435, jpost@cdr-nebraska.org • Program Information: Jane Hardesty: 402-436-2387, jhardesty@cdr-nebraska.org

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