Entrepreneurial development is vital in promoting economic
self-sufficiency and alleviating poverty. Access to financing is
essential to grow businesses that stabilize communities. From its
earliest days, NCRC has provided resources for entrepreneurial
initiatives in low and moderate-income communities and worked with
financial institutions to increase small business lending to women,
minorities, veterans and low- and-moderate-income communities.
Empowering small businesses to thrive in these communities creates jobs
and develops neighborhood wealth and financial stability. To address
this and to provide a new way for concerned lenders to reach small
businesses, NCRC offers a range of services that empower and enable
them tro access the services they need. These services include:
DC Minority Business Enterprise Center
Visit the DCMBEC site
DCMBEC is a business consulting development agency that increases parity in business performance between minority and non-minority owned companies. DCMBEC utilizes strategic partnerships and the diverse business and professional backgrounds of its principals to improve the performance and profitability of minority-owned companies’. DCMBEC provides technical assistance and training, incubator space, networking opportunities and a host of other services to minority business entrepreneurs. It is the premiere business development agency of its kind and is cited as a national model for its outstanding record of success.
Process and eligibility
DCMBEC works with firms that meet the following criteria:
* Must be at least 51% owned by an ethnic minority (not gender based)
* Located within the National Capital Region
* A for-profit entity generating, or having the potential to generate, $500,000 or more in annual revenues
Outcomes
In the past three years, DCMBEC has helped 431 clients and created 783 jobs, and has helped minority-owned businesses secure $93.9 million in procurement contracts, $27 million in the first two quarters of 2007 alone. The NCRC DCMBEC is ranked #3 in the nation among all similar minority business development agencies.
CDFI
NCRC has founded a new Community Development Financial Institution (CDFI) to facilitate the origination of small business loans to minority and women owned businesses and entrepreneurs. The Community Development Fund is a subsidiary of NCRC and will become operational in 2008 utilizing public and private sector investments and support.
Access to Data
NCRC has successfully campaigned to make small business lending data
available to the public to ensure transparency in bank lending. NCRC
has also taken direct action to increase small business lending access
by promoting the $100 million yearly Community Development Financial
Institutions (CDFI) bill.
NCRC’s Banker/Community Collaborative Council developed the
CommunityExpress program in partnership with the U.S. Small Business
Administration (SBA). This innovative program combines SBA guaranteed
loans from banks and free technical assistance from community-based
organizations to both finance and guide entrepreneurs.
Process and eligibility
The program reaches small businesses in designated urban and rural low-
and moderate-income areas, as well as firms owned by women, veterans,
and minorities. Loans may be used for most business purposes, including
start-up, expansion, equipment purchases, working capital, inventory
and real estate acquisition.
Outcome
Since the program’s inception in 1999, over 400 community-based
technical assistance providers and 100 lenders across the nation have
partnered to make over 18,000 loans totaling $476 million. These
lenders include large banks such as US Bank and Wells Fargo, smaller
banks such as TD Banknorth and Arkansas Valley State Bank, as well as
credit unions and non-bank lenders.
The awardees will receive a combined $150,000 in grants to support small business development.
NCRC Announces Recipients Of Grants To Scale Up Small Business Service Providers Read More »
The Small Business Teaming Center (SBTC) supports the abilities of small businesses to pursue and win government contracts by creating a team of businesses that can work together to fulfill the requirements. Our services include: Opportunity Identification and Vetting, Facilitation of Teaming Agreements, and Capture Management. Contract OpportunitiesSBTC assists its clients to identify and develop
Small Business Teaming Center Read More »
Washington, DC – Today, the National Community Reinvestment Coalition (NCRC) announced that the NCRC Community Development Fund has received certification from the Community Development Financial Institutions Fund as a Community Development Financial Institution (CDFI). “We are very excited to receive CDFI certification,” said NCRC President and CEO John Taylor. “This certification will allow NCRC
NCRC Community Development Fund Receives CDFI Certification Read More »
Washington, DC — Today, Owen Jackson, Vice President of Business Development at the National Community Reinvestment Coalition (NCRC) will give testimony before the Congressional Appropriations Subcommittee on Commerce, Justice, Science, and Related Agencies and will call upon Congress to reverse proposed cuts to the Department of Commerce’s Minority Business Development Agency (MBDA). MBDA supports Business
Download the PDF of the full testimony
NCRC Testifies on MBDA before House Appropriations Committee Read More »
The National Community Reinvestment Coalition (NCRC) operates a variety of business development initiatives that support business ownership and entrepreneurship among people of color and women. NCRC identifies synergies among the services offered by individual programs to leverage their effectiveness. NCRC’s business development initiatives currently include: • Washington, DC Women’s Business Center (DC WBC) • Small
Business Development Read More »
Congressman Luis Gutierrez (D-IL) has issued this video call to action, calling on his colleagues to support our efforts to strengthen and expand the Community Reinvestment Act. We’re working with the Congressman and his colleagues to move legislation expanding and strengthening CRA in the coming months, and we thank him for his leadership on this
Congressman Luis Gutierrez Remarks – July 30, 2010 Read More »
Entrepreneurial development is vital in promoting economic self-sufficiency and alleviating poverty. Access to financing is essential to grow businesses that stabilize communities. From its earliest days, NCRC has provided resources for entrepreneurial initiatives in low and moderate-income communities and worked with financial institutions to increase small business lending to women, minorities, veterans and low- and-moderate-income
