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Neighborhood Bancorp
1717 Sweetwater Road, Suite ANational City CA, 91950-7642
CDFI Awards for Neighborhood Bancorp
TA (2006) - $100,000
Neighborhood Bancorp and its subsidary, Neighborhood National Bank, are certified CDFIs. Neighborhood National Bank was founded in 1998 as a community-focused lender serving San Diego County, California. Since 1998, Neighborhood National Bank has grown dramatically by focusing on the needs of small business owners and has facilitated the creation of more than 2,000 jobs in its Target Market. The Bancorp will use the $100,000 TA award to purchase various technology improvements to improve security. The bulk of the funds will be used to purchase and install document scanning technology, significantly improving the bank"s document management and fraud prevention operations.
TA (2005) - $75,000
The awardee will use its 2005 TA grant of $75,000 for the purchase of equipment and technology associated with the opening of a new retail banking branch in East San Diego, California.
NMTC (2002) - $5,000,000
Neighborhood Bancorp is a bank holding company that will invest 100% of its NMTC proceeds into Neighborhood National Bank, its bank subsidiary. The subsidiary, in turn, will use the capital to finance loans to small businesses and real estate projects. The Allocatee believes that the NMTC Program will enable it to offer loan products with better terms and lower rates than its conventional loans.
CORE (1997) - $1,500,000
A $1,500,000 equity investment by the CDFI Fund will enhance the awardee"s capital base and its ability to pursue its comprehensive development strategy.
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