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Peoples Economic Development Corporation
Mount Vernon ILCDFI Awards for Peoples Economic Development Corporation
NMTC (2003) - $7,000,000
Peoples Economic Development Corporation (PEDC) will use its NMTC allocation to provide commercial-related loans to businesses in low-income communities located in its local service area. Loan products will include non-farm, non-residential real estate loans, construction and land development loans, and commercial/industrial loans. The NMTC allocation will enable PEDC to offer loans with interest rates and terms designed specifically for businesses located in low income areas of PEDC"s service area. Due to the economic distress of this area, local businesses have typically had to rely on various government programs to cover their capital needs. The NMTC allocation will allow PEDC to provide a higher level of funding to these businesses, without the restrictions and uncertainty of other funding.
Other Community Development Financial Institutions in Illinois
ACCION Chicago
Chicago
Bethel New Life, Inc
Chicago
Chicago Community Ventures
Chicago
Chicago Development Fund
Chicago
Community Revitalization Fund, Inc.
Hoffman Estates
IBC Bancorp, Inc.
Stone Park
IBC Community Development Corporation
Stone Park
Illinois Ventures for Community Action
Springfield
NAB Bank
Chicago
Peoples Economic Development Corporation
Mount Vernon
PGB Holdings, Inc
Chicago, IL
Sable Bancshares, Inc.
Chicago
The Valued Advisor Fund, LLC
Chicago
Urban Development Fund, LLC
Chicago
Urban Enterprise Fund
Chicago
Featured Government Grant Resources
Community Development Credit Unions
A Community Development Credit Union, more commonly known as a CDCU, is a credit financial institution which owned and controlled by its members in an effort to sustain the ability of being able to provide a wide array of financial services.
Community Development Financial Institutions
Community Development Financial Institutions are basically financial institutions who possess the ability to provide credit and financial services to underserved industries and communities.
Social Entrepreneurship
Spotlight
Hugh Jackman: Fair Trade Entrepreneur
Renowned actor, Hugh Jackman, talks about how he started becoming a fair trade entrepreneur. Jackman is constantly building up ideas and solutions to help small coffee growers get good prices outside the massive coffee industry. His business, Laughing Man Worldwide, reinvests 100% of its profits in its partnerships with farmers.
