Northwest Side Community Development Corporation Awarded $400,000 from the United States Treasury
Milwaukee, Wisconsin – August 6, 2012 – The Northwest Side Community Development Corporation (“NWSCDC”) has been awarded $400,000 as a Community Development Financial Institution (CDFI) under the Small and/or Emerging CDFI Assistance (SECA) component of the US Treasury’s CDFI Fund. Only 11% of national applicants received funds in the SECA category during this cycle.
The NWSCDC will use the award for loan capital targeted towards manufacturers and catalytic projects on the Northwest Side that create new jobs. The NWSCDC has lent over $2 Million of such loans over the past 18 months.
For more information on the CDFI Fund and the FY2012 awards, please visit the online announcement by clicking here.
Through collaborative strategies, the NWSCDC has lent over $6 million dollars to several major catalytic projects on the Northwest Side since 2000. These lending efforts have helped create hundreds of jobs for community residents.