MLCDC Strengthening CDFI Program

MLCDC ( www.midlandslatinocdc.org) was recently awarded a $18,750 sub grant through NALCAB’s Wells Fargo Strengthening CDFIs program! This investment will allow MLCDC to strengthen its loan portfolio to serve Latino-owned businesses in the Midlands, give technical assistance to support loan-ready clients in accessing capital, provide support to entrepreneurs in rural areas, and apply for new grants and work for sustainability of the micro-lending program.

NALCAB/ Wells Fargo Bank funds will be leveraged with FA Funds, the HHS-OCS Community Economic Development Grant, and City of Omaha CDBG, U.S. Small Business Administration, USDA, Peter Kiewit Foundation grant and other sources available from foundations and banks

Two major factors driving the demand for increasing development services and loan products are: 1) The need for additional certified child care providers in rural areas of the target market; and 2) The opening of Las Americas Global Market and Kitchen Express that will provide space for 40 businesses in the first phase of this project.

The average loan size is expected to grow as more child care operators expand from home-based family daycare centers to childcare centers. Average loan size is also expected to grow up $100,000 as businesses open in Las Americas Global Market and Kitchen Express to increase production to expand their market area, food production.

For more information about MLCDC, visit www.midlandslatinocdc.org or call (402) 933-4466.