The Midlands Latino Community Development Corporation (MLCDC) has been awarded a $60,000 grant from the Community Development Grant (CDBG). Approved by the city of Omaha, the CDBG funds will be used to pay staff salaries in order to help small businesses in the South Omaha area to become established and grow.
The Community Development Grant will help to increase lending activities, loan originations and loan servicing that is needed for the startup and growth of Latino businesses in both South and North Omaha, to meet the strategic goals of providing a greater number of business owners with technical assistance and training, originating a larger number of loans, managing a larger loan portfolio, and becoming a certified CDFI by September 2017.
MLCDC plans to reach a loan portfolio of $700,000.00 by June 2018 through a program that serves primarily single Latina women entrepreneurs. The size of the loans offered will increase to $50,000.00. Financial Assistance Grant from the Department of Treasury and new partnerships with financial organizations and foundations will allow MLCDC to increase its loan fund according the needs of the target market.
For more information, visit the office of MLCDC located at 4923 South 24 Street, Suite 201, or call 402.933.4466.