Areas Served: Cochise, Coconino, Gila, Graham, Greenlee, La Paz, Maricopa, Mohave, Navajo, Pima, Pinal, Santa Cruz, Yavapai, Yuma
The Community Development Financial Institutions Fund (CDFI Fund) was created within the U.
S Department of Treasury to promote economic revitalization and community development anywhere in Arizona.
The characteristics that define a CDFI are: it has a primary mission of community development, it serves a specific target market, it is a financing entity, it also provides development services, it remains accountable to its community, and it is a non-government entity.
Loan funds range from $5,000 to $50,000. The Neighborhood Economic Development Corporation is a CDFI that is certified by the US Department of Treasury to provided Alternative Financing Programs anywhere in the state of Arizona.
Traditional bank loans can be hard to qualify for with a start-up business, a new venture or a business or business owner that has or is struggling financially.
Loans available from NEDCO, or another CDFI, are far more cost effective and flexible than the options listed above as DON’Ts.
Also, the qualification factors for a loan are weighted differently than a bank.
An added bonus is that along with funding, NEDCO provides development assistance: education, networking and support.
Contact InformationNeighborhood Economic Development Corporation
Address: 12 North Center Street
City: Mesa
State: Arizona
Website:
http://nedco-mesa.org
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