NEIGHBORHOOD DEVELOPMENT CENTER INC
NEIGHBORHOOD DEVELOPMENT CENTER INC
NEIGHBORHOOD DEVELOPMENT CENTER INC
Programs
Real Estate Development Initiative Program
REAL ESTATE DEVELOPMENT INITIATIVE PROGRAM - ENCOURAGES NEIGHBORHOOD REVITALIZATION, PROPERTY OWNERSHIP, AND BUSINESS OWNERSHIP BY ENTREPRENEURS WITHIN SPECIFIC PRIORITY LOW-INCOME NEIGHBORHOODS. FOUR OF THE LOANS FROM PROGRAM 2 WERE REAL ESTATE LOANS, TOTALING $977,000.GeographiesNot indicatedDatesJan 1, 2023 – Dec 31, 2023Source990No causes providedNo populations provided–$2.2MLending And Financing Program
LENDING AND FINANCING PROGRAM - PROVIDES FUNDS TO START-UP AND EXISTING BUSINESSES. IN 2023, NDC HAD A $10 MILLION DOLLAR REVOLVING LOAN FUND. LOANS WERE PROVIDED TO BUSINESSES THAT MET CERTAIN GEOGRAPHICAL AND INCOME CRITERIA. A PORTION OF AVAILABLE FUNDS ARE DEDICATED TO BE USED FOR ISLAMICALLY ACCEPTABLE FINANCING. NDC APPROVED 44 LOANS IN 2023, TOTALING $3,838,858, IN PRIORITY AND OTHER NEIGHBORHOODS, AS FOLLOWS: - 19 SMALL BUSINESS LOANS (LARGER THAN $50K) - 25 MICROLOANS ($50K OR LESS)IN ADDITION, NDC APPROVED 45 CREDIT-BUILDER LOANS IN 2023, TOTALING $13,500.ALSO, THE LENDING DEPARTMENT ADMINISTERED TWO GRANT PROGRAMS IN 2023 - THE NDC EMERGENCY GRANTS PROGRAM, WHERE 26 BUSINESSES RECEIVED GRANTS TOTALING $72,000. - THE EQUITY GRANTS PROGRAM, WHERE 13 BUSINESSES RECEIVED GRANTS TOTALING $58,500.GeographiesNot indicatedDatesJan 1, 2023 – Dec 31, 2023Source990No causes providedNo populations provided–$1.7MTechnical Assistance Program
TECHNICAL ASSISTANCE PROGRAM - SUPPORTS THE GROWTH OF NEW AND EXISTING BUSINESSES IN THE COMMUNITY. IN 2023, NDC PROVIDED 2,918 HOURS OF BUSINESS SERVICES TO 384 BUSINESSES IN ITS PRIORITY AND OTHER NEIGHBORHOODS.GeographiesNot indicatedDatesJan 1, 2023 – Dec 31, 2023Source990No causes providedNo populations provided–$1.8M
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