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MicroBusiness Development Corporation
Denver COCDFI Awards for MicroBusiness Development Corporation
FA (2008) - $596,708
MicroBusiness Development is a non-profit microenterprise lender established in 1993. Its mission is to eliminate barriers to economic independence for community entrepreneurs, both youth and adults, through access to markets, resources and business capital. MicroBusiness Development will use its FY08 Financial Assistance award of $500,000 to expand its lending activity and its FY08 Technical Assistance grant of $96,708 to increase its capacity through a feasibility study of rural markets, increased training on economic development, and outreach to rural communities.
FA (2006) - $500,000
MicroBusiness Development Corporation (MBD) is a certified CDFI established in 1993. MBD provides microbusiness loans from $10 to $50,000 to disadvantaged entrepeneuers in Denver and Boulder County. MBD will use a 2006 Financial Assistance Award of $402,000 to expand its loan capacity and a 2006 Technical Assistance Award of $98,000 to 1) conduct a market analysis of opportunities for MBD"s clients; 2) develop and implement an online loan application process; 3) hire an additional loan advocate in response to significant loan fund expansion; 4) pay for staff attendance at a national conference; and 5) establish a satelite office in Boulder County, Colarado.
FA (2005) - $300,000
The $300,000 financial assistance award will be used to fund a loan loss reserve and capitalize its loan fund. The $50,000 technical assistance award will fund training of lending staff and to conduct a market analysis of its metro and non-metro area. These activities will build the organization"s capacity and expand services to its Target Market.
TA (2004) - $50,000
MicroBusiness Development Corporation(MBDC) will use the award to obtain consulting services to develop, install and train staff on a new Management Information System (MIS) software as well as portfolio management software. The MIS will integrate the lending and the technical branches of the organization and will position MDC to increase efficiency in marketing and selling its products and in tracking loan performance and impact data.
Other Community Development Financial Institutions in Colorado
Colorado Housing Enterprises, LLC
Westminster
Funding Partners for Housing Solutions
Fort Collins
Hospitality Fund I
Denver
Hospitality Fund II, LLC
Denver
La Plata Homes Fund, Inc.
Durango
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