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The Department of Community Development is partnering with the National Development Council to bring the acclaimed Grow America Fund to Shreveport.
Details of the partnership will be made public at 11 a.m. Friday, March 8, at an invitation-only event at the Financial & Business Empowerment Center (Jewella Whitehouse), 2230 Jewella Ave.
The NDC is a leader in community and economic development training, consulting and small business lending. In addition to the Grow Shreveport Fund, NDC also will add expertise to other community-based projects initiated by the Department of Community Development.
The City will invest $500,000 into the fund, which will be significantly leveraged by NDC to create a pool of funding capable of supporting the capital needs of qualifying small businesses. A subsidiary of the NDC, The Grow America Fund is an economic development bank and Community Development Financial Institution that makes guaranteed loans for job generating and community development projects, with a focus on woman and minority-owned businesses.
NDC staff will not be on-site daily but will keep a regular schedule and be available to meet with interested borrowers.