ee slides wythe 04 10
TRANSCRIPT
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People Incorporated Financial Services
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• Chartered in 1964 as first rural Community Action Agency in the United States
• Offer a diverse range of development services and programs throughout Western Virginia
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• BusinesStart• Training and Technical Assistance• Consumer Loan Program• Ninth District Development Financing, Inc.• New Market Tax Credit Program
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People Inc Financial Services
• Promotes economic self-sufficiency and a better quality of life for the region’s citizens through small business ownership, job creation, and asset development.
• Provides business training, technical assistance, and makes business loans.
• Partners with the local banking community and focuses services on customers who may not be eligible for bank financing.
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BusinesStart
• Classes are offered to assist in educating the customer on Business Development.
• Loans available up to $200,000 for start up or existing businesses.
• Continuing assistance to customers once the business is up and running.
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Training and Technical Assistance• Business Basics Workshop
• Core Four Business Planning Course
• Customer Service Workshop with partner Virginia Tourism Cooperation
• Social Media Workshop- You-Link-Twit-Face with partners Virginia Dept of Business Assistance and Virginia Tourism Corporation
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Consumer Loan Program
• Loans available up to $10,000• Interest Rate = Prime + 5.0%• Terms up to 36 months• Credit problems understood• Loans must have collateral• Loans for:
– Home Improvements– Car Repairs– Payoff Payday Loans– Bill Consolidation
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NDDFNinth District Development Financing, Inc.• Loans for start up or expanding a tourism
related business.• Business must be located within the 9th
congressional district of Virginia.• Interest rate = Prime Rate• Visit our website: www.nddf.org
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New Market Tax Credit• The New Market Tax Credit Program (NMTC) is a community
development lending tool designed to stimulate the flow of investment in underserved communities by creating new jobs and accelerating economic revitalization.
• The program was created as a part of the Community Renewal Tax Relief Act of 2000 which encourages private capital investment in low income communities by providing a 39 percent federal tax credit to investors.
• The program is based on the idea that there are viable business opportunities in low-income communities and that a federal tax credit would provide attractive incentive to increase the flow of investment capital to such areas.
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Funding Partners• Small Business Development (SBA)• Virginia Enterprise Initiative (VEI)• US Treasury• Virginia Tobacco Commission• Virginia Dept of Housing and Community
Development• Virginia Community Capital (VCC)• FAHE
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Contact InformationBecky Nave
People Incorporated of Virginia1173 West Main Street
Abingdon, VA [email protected]
P: 276-619-2243
www.whatcanpeopledo.org
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Questions?