In 2005, the Structured Employment Economic Development Corporation (Seedco) created Seedco Financial Service (SFS) as a wholly-owned subsidiary. Seedco is a national intermediary that has been engaged in community development lending since 1987. Its lending programs were transferred to SFS when Seedco established the subsidiary. SFS provides affordable financing and technical assistance to small businesses, non-profit organizations, and commercial projects in low-income and economically distressed communities across the nation. SFS will use its FY07 Financial Assistance grant to provide financing capital to small businesses in the fisheries industry that were affected by Hurricanes Katrina and Rita.