lewis & clark regional development council: marketing loan funds
TRANSCRIPT
About LCRDC
History
– Created with five counties in 1969– Incorporated as a non-profit with ten
counties in 1973– Designated as an Economic
Development District in 1973– Authorized by the State Legislature as a
Regional Council in 1977– Obtained first revolving loan fund in 1993
About LCRDC
Board of Directors
– 35 Member Board of Directors• Local elected officials• Members representing specific interests
– Business– Farm– Tribal
Who does LCRDC serve?
The Council provides services to its ten member counties
What does LCRDC Do?
– Community Development– Infrastructure – Public Safety– Housing
– Economic Development– Business Loans– Technical Assistance
Community Development
– The primary Funding source for Community Development programs is the Community Development Block Grant (CDBG)
What Does CDBG Fund?
– Water and Sewer Projects
– ADA Accessibility
– Fire and Ambulance Districts
Economic Development
Business LoansReal EstateEquipmentInventoryWorking Capital
North Dakota Opportunity Fund (NDOF)
Your Logo Here
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Overview
Capitalization– State Small Business Credit Initiative
• Jobs Act of 2010– $9.7 Million dollars
Purpose– Provide flexible and accessible loans – primarily gap financing– Create of save jobs – SBA 504 interim financing– Refinancing is ineligible
NDOF Service Area
38 Eligible Municipalities throughout North Dakota
Policies/Terms
Loan limits– $1,000,000 maximum
Match required– Minimum $1 private for each $1 – Overall Fund goal of $10:$1
Minimum 10 % owner equity Interest Rate
– Negotiable – generally 4.0% to Prime– Fixed or variable
Policies/Terms cont.
Typical Term Lengths– Fixed Assets
• 20 Years
– Equipment and Machinery• 7-10 years
– Inventory• 5 Years
– Working Capital• 2 years
Policies/Terms cont.
Fees– 1% origination
• Unless used in conjunction with SBA504, then 0.5%
– All hard costs Collateral
– Must provide adequate security for the loan– Subordinate debt is possible
CommunityWorks North Dakota
Organized as a 501 (c)(3) Non-Profit Corporation in 1995
First staffed in 2000DREAM Fund established in 2001
DREAM Fund
D – Down Payment and Closing CostsR – RehabilitationE – Emergency RepairsA – And Other, Including ConstructionM – Mortgage
DREAM Fund
No Income LimitsLow-Income is a priority
Rates and Terms Adjusted for Affordability1 Month to 40 Years1% to Market Rate
DREAM II Fund
Generally Short-Term Housing Development Loans for:Pre-Development costsConstructionInfrastructureOther Bridge and Gap loans
What does LCRDC Do?
–SBA 504 Loans• Fixed Rate Financing
– Real estate acquisition– Equipment– Construction costs on new construction or
renovation projects– Leasehold improvements
Outreach/Marketing
Historically marketing has been partner driven Banks Realtors Economic Developers Other partners – USDA, SBA, SBDC
Sponsorships Women in Business Summit
Conference attendance with Booth Space North Dakota/South Dakota Bankers Association Independent Community Bankers of North Dakota North Dakota Association of Realtors
Presentations Bank credit committees Economic Development Groups
Outreach/Marketing
Consumer MarketingWebsitesSocial Media
FacebookTwitter
Video Produced a 3 minute video for presentations, display at
conferences, and PSAsAvailable on all three websites
Marketing Materials
Logo apparelOther logo items
Insulated cups, thumb drives, pens
Traditional marketing materialsBrochuresBusiness cardsNewsletters
Including monthly newsletter to Board Members
Marketing Tools
Marketing PlanDevelopBudgetImplementEvaluate
Customer Relationship ManagementWe use Salesforce
Take Aways
Marketing PlanBrand AwarenessOpportunities
Take advantage of any opportunity to get yourself, your materials or your logo in front of as many people as possible as often as possible
Promotional Video
CONTACT INFORMATION
Brent EkstromExecutive Director
200 1st Avenue NWMandan, ND 58554Ph. 701-667-7624Fax 701-255-7228
Email: [email protected]
LCRDC Website: www.lewisandclarkrdc.orgCWND Website: www.communityworksnd.orgLCCDC Website: www.lewisandclarkcdc.org