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Lenders for Community Development
Lenders for Community Development
Sean Daneshgar
March 23, 2008
Website: www.l4cd.com
Mission: LCD invests in people who are working to build financial, personal and shared assets in low-income communities throughout the Bay Area. These assets include savings, permanently affordable housing, and viable employment.
Inspiration/History: LCD was originally launched in 1993 as a for-profit, multi-bank community development corporation; their focused, results-oriented culture is the principal legacy of these for-profit roots.
Business Model: LCD relies on donations from foundations and individual donors. Each program has its own business model (see Core Programs)
Theory of Change: ?
Core Programs:
Assets for All Alliance IDA Program – helps low-wage workers and their families save, build assets, and enter the financial mainstream by educating them on financial management and matching savings 2:1, up to $4,000. Individual Development Accounts (IDA) fund home ownership, education, or small business development.
Bay Area Microfinance Fund – provides loans to small entrepreneurs who cannot qualify for a bank loan, but need capital and consulting to build their business
Affordable Housing and Community Facilities Loan Program – manages $20 million in funds for multi-family housing, homeownership projects, homeless and transitional housing, and other community facilities, like child care centers and social service agencies
Recent Developments (if applicable):
Recently expanded activities into San Francisco and Alameda County, and recently interviewed on KQED morning news. To date, LCD has invested over $90 million in low-income community development, helping over 7,000 households, and more
Biography of Gwendy Donaker Brown:
Brown was promoted to IDA Program Director in 2007. Brown attended Pomona University from 1997-2001 and New York University. She worked in Community Outreach for the One Economy Corporation, which uses technology to help low-income individuals from 2005-2006.
Questions to be Raised During Visit (3-4):
How does LCD distinguish the clients it chooses to serve?
How much interest does LCD take on loans?
Why did LCD choose this mix of programs? Are they complementary?
Further Resources (2-3):
http://www.l4cd.com/audio/2008-01-14-news.mp3
http://strategiesllc.net/CEO_BenefitRadio.html
Sean Daneshgar
March 23, 2008
Website: www.l4cd.com
Mission: LCD invests in people who are working to build financial, personal and shared assets in low-income communities throughout the Bay Area. These assets include savings, permanently affordable housing, and viable employment.
Inspiration/History: LCD was originally launched in 1993 as a for-profit, multi-bank community development corporation; their focused, results-oriented culture is the principal legacy of these for-profit roots.
Business Model: LCD relies on donations from foundations and individual donors. Each program has its own business model (see Core Programs)
Theory of Change: ?
Core Programs:
Assets for All Alliance IDA Program – helps low-wage workers and their families save, build assets, and enter the financial mainstream by educating them on financial management and matching savings 2:1, up to $4,000. Individual Development Accounts (IDA) fund home ownership, education, or small business development.
Bay Area Microfinance Fund – provides loans to small entrepreneurs who cannot qualify for a bank loan, but need capital and consulting to build their business
Affordable Housing and Community Facilities Loan Program – manages $20 million in funds for multi-family housing, homeownership projects, homeless and transitional housing, and other community facilities, like child care centers and social service agencies
Recent Developments (if applicable):
Recently expanded activities into San Francisco and Alameda County, and recently interviewed on KQED morning news. To date, LCD has invested over $90 million in low-income community development, helping over 7,000 households, and more
Biography of Gwendy Donaker Brown:
Brown was promoted to IDA Program Director in 2007. Brown attended Pomona University from 1997-2001 and New York University. She worked in Community Outreach for the One Economy Corporation, which uses technology to help low-income individuals from 2005-2006.
Questions to be Raised During Visit (3-4):
How does LCD distinguish the clients it chooses to serve?
How much interest does LCD take on loans?
Why did LCD choose this mix of programs? Are they complementary?
Further Resources (2-3):
http://www.l4cd.com/audio/2008-01-14-news.mp3
http://strategiesllc.net/CEO_BenefitRadio.html
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, Mar 23 2008, 7:24 AM EDT
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