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Austin Community Development Corporation
Austin TXCDFI Awards for Austin Community Development Corporation
FA (2006) - $585,000
PeopleFund, formerly known as Austin Community Development Corporation (Austin CDC), was founded in 1994 to stimulate economic development in the lower-income neighborhoods of Austin, Texas. PeopleFund offers term loans, revolving lines of credit, and commercial real estate loans from $20,000 to $200,000. Its primary customers are African-American and Hispanic owned businesses with an average of five years in business and seven employees. The 2006 Financial Assistance Award of $497,100 will be used to build the permanent resources of the loan fund. The Technical Assistance Award of $87,900 will be used to: 1) support staff salary for a new Credit Analyst; 2) purchase new hardware and software, including software to host customer websites; 3) purchase office furniture and equipment; and 4) allow staff to attend several training programs.
FA (2004) - $836,000
Austin Community Development Corporation (ACDC)will use the award to help provide low-interest business loans to business owners who lack access to conventional sources of financing in its current target market. It will also allow ACDC to expand its services into neighboring Caldwell County. ACDC"s goal, through its financing activities, is to increase the number of local jobs by encouraging the establishment of new businesses and sustaining existing businesses in the target market.
CORE (2002) - $843,000
The CDFI Fund grant of $400,00.00, Award Financial Loan for $400,000.00, and Technical Assistance of $43,000.00,will be used for lending and to conduct a market analysis study and to provide training for staff.
CORE (2000) - $588,000
The CDFI Fund"s $588,000 award ($500,00 capital grant, $50,000 loan, and $38,000 technical assistance grant) will help Austin CDC to meet the growing demand for small business loans in Austin"s distressed and underserved communities and to expand and formalize the organization"s business training and technical assistance services.
CORE (1998) - $500,100
With the help of the CDFI Fund, the awardee plans to stimulate capital and job growth in Austin"s lower income urban neighborhoods, provide new and innovative financing products to small businesses, increase opportunities for women and minority-owned businesses and provide business development services to its clients. Austin projects to increases in its lending by 30 percent over 1997 levels and introduce new lending products.
Other Community Development Financial Institutions in Texas
ACCION Texas, Inc.
San Antonio
Azteca Community Loan Fund
San Juan
Bexar County Teachers Federal Credit Union
San Antonio
Community Development Corp. of Brownsville
Brownsville
Community Development Loan Fund
San Antonio
Community Development Loan Fund (CDLF)
San Antonio
Equitrend Capital
Amarillo
Neighborhood Housing Services of Dimmit County, Inc.
Carrizo Springs
PACESETTER CDE INC
Richardson
Rural Development and Finance Corporation
San Antonio
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