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Our Programs

Community Needs
LCD's community needs assessment has identified the following critical needs in the communities it serves:

· the need for small business loans under $75,000;

· the need for earlier stage loans not secured by real estate collateral, among
businesses owned by women, minorities and low-income people;

· the need for flexible, streamlined, and affordable financing among non-profit
developers of affordable housing and community facilities;

· the need for money management training and deposit products for low-income people.

Small Business Micro-Loan Program
LCD provides small business loans of between $5,000 and $75,000, from a pool of funds invested by member banks. LCD has made small business micro-loans totaling over $3million, with an average loan size of $20,000, with 75% of loans going to minority-owned businesses, 55% to women-owned businesses, and 82% to businesses owned by low-income people. With our new strategic relationships with several small business funders we can now offer funding for small businesses even if they have bad or no credit. We have newly acquired relationships with business funders like Entrust Funding and NY Merchant Advancements.

Affordable Housing/Community Facilities Loan Program
LCD provides various types of interim financing to developers of affordable housing and community facilities. LCD operates four affordable housing/community facilities loan pools funded by its member banks, the Housing Trust of Santa Clara County and the Sobrato Family Affordable Housing Fund, which together total $35 million. To date, LCD has originated over $29 million in affordable housing and community facilities loans, financing more than 2,600 units of affordable housing and 14 new community facilities.

Individual Development Account Program
As co-managing partner of the Assets for All Alliance, LCD offers Individual Development Accounts (IDAs) and money management training to low-income families. IDA's are matched savings accounts, which provide program participants with a financial incentive to save money towards education, investment in a small business, retirement, or home ownership. LCD co-manages the program with the Peninsula Community Foundation's Center for Venture Philanthropy. Deposit accounts for program participants are held at Citibank. The Assets for All Alliance is one of the largest and most effective IDA programs in the country, with over 1,100 enrollees. 35 program participants have already purchased homes, and hundreds more have used their savings to pay for education, start a small business, or open a retirement account.

© 2002 Lenders for Community Development

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