| About Us
The WMCDC is a private, for profit, community development financial institution (CDFI) created in 1994 through a public-private partnership.
The activities undertaken by the WMCDC primarily benefit low to moderate income areas. With WMCDC financial assistance, small businesses can continue to make contributions to the economic base of our community by creating new jobs, and more specifically, jobs for low to moderate income persons.
The WMCDC focuses its lending activities on expanding and improving existing small businesses.
► Mission
Our mission is to assist economic development initiatives by providing debt/equity financing, in conjunction with a bank and/or a non-traditional lending source, for small, minority and women-owned businesses, with a special emphasis on assisting businesses located in low to moderate income areas (LMI).
► WMCDC Economic Development Objectives
- Support the creation/retention of jobs for LMI area persons.
- Support small business development, expansion and retention in LMI areas.
- Support small businesses occupancy, rehabilitation and ownership of real property.
- Promote opportunities for small, minority and women-owned businesses to expand in LMI areas.
- Support economic development initiatives in the community.
WMCDC Loan Programs
►WMCDC Business Loan: The William Mann Jr Community Development Corporation Loan Program is for businesses that are located in Tarrant County.
► NMTC Loan Program: The New Markets Tax Credit Loan Program is for qualified businesses located in or relocating to an eligible NMTC census tract.
Click here for:
|
Example of Loan Structure
Funds
|
%
|
Use
|
Amount |
Lien
|
Lender
|
50% |
RE
Loan |
$250,000 |
1st |
| WMCDC |
40% |
RE
Loan |
$100,000 |
2nd |
Borrower
|
10% |
Equity
|
$25,000 |
|
| Total Project |
$250,000 |
| Lender/WMCDC percentages may vary from example. |
|
|
