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Impact Seven, Inc.
147 Lake Almena DriveAlmena WI, 54805-7004
CDFI Awards for Impact Seven, Inc.
FA (2007) - $902,064
Established in 1970, Impact Seven, Inc. is a certified CDFI. It serves low-income people in Wisconsin, focusing on affordable housing in rural and distressed communities. Impact Seven will use its FY07 FA award to fund a new program, using funds from USDA’s Housing Preservation Revolving Loan Fund. The new loan will help preserve and rehabilitate multi-family housing in rural Wisconsin. It will use its TA award for the new loan fund’s program manager’s salary and training.
FA (2003) - $900,000
The Fund"s $900,000 award will be used to further capitalize the Greater Wisconsin Fund (GWF), its statewide business revolving loan fund. The GWF provides market-rate financing targeting business start-up and expansion projects that will create jobs for low-income people and foster economic revitalization in distressed areas of the state. Approximately 34% of this award will be targeted to Hot Zones.
NMTC (2002) - $21,000,000
I-7 intends to utilize its NMTC allocation to provide the following products and services: 1) loans and equity investments for real estate development and redevelopment projects; 2) working capital loans to businesses for inventory, receivables, salaries, and overhead; 3) fixed-asset loans to businesses, including loans for the purchase of equipment and machinery and other capital assets; 4) expansion loans for both owner-occupied physical facilities and equipment; 5) lines of credit to address various needs related to the growth and expansion of businesses; and 6) venture capital funding, including equity and convertible debt, primarily for later stage growth financing. I-7 believes the NMTC Program will allow it to leverage substantial new and additional private investment capital for underserved markets.
NACTA (2002) - $73,000
A NACTA technical assistance grant of $73,000 will be used by Impact Seven and its partners to obtain consulting services to develop a market analysis, a marketing strategy, and a capitalization strategy, and to pay part of the salary of Impact Seven staff to provide strategic planning and organizational direction and to develop policies and procedures for the new CDFI that will be located on the Red Cliff reservation in northern Wisconsin.
CORE (2001) - $1,300,000
The CDFI Fund grant of $1,300,000 will be used to seed the Greater Wisconsin Fund (GWF), a revolving loan fund designed to support new and emerging small businesses with flexible financing.
CORE (2000) - $80,000
The CDFI Fund"s $80,000 technical assistance grant will be used to enhance the applicant"s organizational capacity through training, technical assistance and technology enhancements.
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