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ECONOMIC DEVELOPMENT <br /> wto) <br /> The Initiative Foundation is YOUR Regional INITIATIVE <br /> Economic Development Resource and Partner. FOUNDATION <br /> Since its inception in 1986, the Initiative Foundation has been involved in both community <br /> development (through training and capacity-building programs as well as grants in support of <br /> community planning and projects) and economic development (through business financing activities <br /> designed to create living wage jobs, diversify local economies and leverage private sector investment). <br /> Healthy, sustainable community living includes access to quality jobs. <br /> WHAT WE DO... <br /> ❖ Provide $3.5 million gap financing annually to small businesses <br /> ❖ Provide $250,000 grants annually to non-profits & units of government to address barriers to <br /> economic development <br /> • Workforce development <br /> • Childcare and Early Childhood Education <br /> • Affordable housing <br /> • Build capacity of local economic development organizations <br /> BUSINESS FINANCING PROGRAMS <br /> Access to capital drives business development and growth. For business start-up and expansion <br /> projects, Initiative Foundation Business Financing programs meet the "gap" between the financing a <br /> local lender is able to provide and the equity the owner is able to contribute. By offering gap financing <br /> to supplement owner equity and taking a position as a subordinate lender, Initiative Foundation business <br /> financing programs are a tool to help lending institutions better serve local businesses. <br /> As a double bottom line investor in local businesses, the Initiative Foundation focuses resources on <br /> financially sound businesses with clear impacts: <br /> ❖ Creation/retention of quality, living wage jobs with benefits <br /> ❖ Business contributes to a strong and diversified local economy <br /> ❖ Project supports local community's economic development objectives <br /> Initiative Foundation offers business financing programs to meet diverse regional needs: <br /> ❖ Direct Business Loan Fund ❖ Green Business Fund <br /> ❖ Microenterprise Loan Guaranty Fund ❖ Seed Capital Fund <br /> ❖ Technology Capital Fund <br /> IMPACTS Since inception in 1986: <br /> • $31.5 million business loans & guaranties ❖ 791 business start-ups and expansions <br /> ❖ $196 million funds leveraged from banks ❖ 9,207 full-time jobs created/secured <br /> and lending partners <br /> Questions? Projects? Contact Us! <br /> More Information & Online Inquiry Form at www.ifound.org <br /> Initiative Foundation-Economic Development Department: 877/632-9255 or 320/632-9255 <br />