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What
is a CBDC?
As a CBDC (Community
Business Development Corporation), we assist in the creation
of small businesses and in the expansion and modernization
of existing businesses by providing financial, technical and
counselling services to entrepreneurs.
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Financial
assistance to a maximum of $150,000 is available
in the forms of loans, loan guarantees and equity
financing to existing and aspiring entrepreneurs.
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Business
counselling and advice is available to small businesses.
We help businesses to succeed and therefore we give
high priority to the advisory role of our mandate.
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Entrepreneurship
development and training to individuals and small
business owners/managers is available through many
of our offices.
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Technical
assistance usually takes the form of guidance and
coaching, and sometimes advocating on behalf of
our clients to other lending establishments or regulatory
agencies.
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Typically, our services
are targeted to entrepreneurs who require customized financing
not normally available through traditional sources.
Volunteer
Board
One of the keys
to our success is that investment decisions are made by an
independent Board of Directors sensitive to the needs of the
community. The directors are volunteers, generally business
men and women, who believe in our communities and possess
an outstanding commitment to making them a better place in
which to live and work. Past surveys have indicated that the
strength of the CBDCs is in our volunteer Boards. The knowledge
of the local markets, the business environment and people
is the basis for our effectiveness and success.
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