The NRDV Loan Fund is supported by two entities with a proven set of skills in deploying capital, experience in underwriting, and providing development services and technical assistance. NRDV Loan Fund Managers are presently seeking funds from financial institutions to leverage public and private dollars in the Fund. Financial institutions are able to invest capital directly in the loan fund, receiving a Community Reinvestment Act (CRA) credit, possible tax credits, and potential cash rewards under the CDFI Fund's Bank Enterprise Award Program. Once the Loan Fund has reached a certain level, we will begin offering our services to small business owners and entrepreneurs in LICs. However, before the Fund is able to begin processing requests for loans or equity investments, we must have firmly committed non-federal funds available to be matched with comparable terms as those provided to the NRDV Loan Fund, by the U.S. Treasury CDFI Loan Fund.

Raising capital is one of the toughest challenges for many entrepreneurs. Whether they have a small established company poised for expansion or a startup business, access to capital on the right terms is critical to their success. NRDV now has that same challenge. How do we tap the capital opportunities and finance eastern North Carolina community development?

The NRDV Loan Fund will not compete with or supplant conventional financial institutions; rather, we will work in partnership with banks to develop innovative ways to deliver loans, investments, and financial services to distressed communities. Our goals include expanding social and economic opportunity and empowering people in the economically distressed communities of eastern North Carolina. Furthermore, NRDV will create a future market for mainstream financial institution products and services. We will incubate businesses and people, helping them to grow and prosper. As our customers achieve some success, establish positive financial and credit histories and reach substantial size, they will be encouraged to develop relationships with more conventional lending institutions. NRDV will provide leadership in eastern North Carolina by investing in distressed urban and rural neighborhoods and bringing people into the economic mainstream as contributors to our economy.

There will almost always be people that the NRDV Loan Fund cannot help by providing financing. Fortunately, there are other ways in which a creative and progressive CDFI can help: through technical assistance and financial counseling, by creating options to guarantee loans to "high risk" borrowers who cannot meet ordinary standards, through appropriate referrals, or in other ways. When NRDV effectively and faithfully serves the needs of its clientele and its community, it will make an invaluable contribution to eastern North Carolina.

If your goals include expanding social and economic opportunity, and empowering people, the NRDV Loan Fund may be exactly the right place for your investment. We look forward to discussing mutual opportunities and working together to accomplish the goals of the NRDV Loan Fund. Call us at 252 638-6724 or email lriter@nrda.org.