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People Incorporated Financial Services
• Chartered in 1964 as first rural Community Action Agency in the United States
• Offer a diverse range of development services and programs throughout Western Virginia
• BusinesStart• Training and Technical Assistance• Consumer Loan Program• Ninth District Development Financing, Inc.• New Market Tax Credit Program
People Inc Financial Services
• Promotes economic self-sufficiency and a better quality of life for the region’s citizens through small business ownership, job creation, and asset development.
• Provides business training, technical assistance, and makes business loans.
• Partners with the local banking community and focuses services on customers who may not be eligible for bank financing.
BusinesStart
• Classes are offered to assist in educating the customer on Business Development.
• Loans available up to $200,000 for start up or existing businesses.
• Continuing assistance to customers once the business is up and running.
Training and Technical Assistance• Business Basics Workshop
• Core Four Business Planning Course
• Customer Service Workshop with partner Virginia Tourism Cooperation
• Social Media Workshop- You-Link-Twit-Face with partners Virginia Dept of Business Assistance and Virginia Tourism Corporation
Consumer Loan Program
• Loans available up to $10,000• Interest Rate = Prime + 5.0%• Terms up to 36 months• Credit problems understood• Loans must have collateral• Loans for:
– Home Improvements– Car Repairs– Payoff Payday Loans– Bill Consolidation
NDDFNinth District Development Financing, Inc.• Loans for start up or expanding a tourism
related business.• Business must be located within the 9th
congressional district of Virginia.• Interest rate = Prime Rate• Visit our website: www.nddf.org
New Market Tax Credit• The New Market Tax Credit Program (NMTC) is a community
development lending tool designed to stimulate the flow of investment in underserved communities by creating new jobs and accelerating economic revitalization.
• The program was created as a part of the Community Renewal Tax Relief Act of 2000 which encourages private capital investment in low income communities by providing a 39 percent federal tax credit to investors.
• The program is based on the idea that there are viable business opportunities in low-income communities and that a federal tax credit would provide attractive incentive to increase the flow of investment capital to such areas.
Funding Partners• Small Business Development (SBA)• Virginia Enterprise Initiative (VEI)• US Treasury• Virginia Tobacco Commission• Virginia Dept of Housing and Community
Development• Virginia Community Capital (VCC)• FAHE
Contact InformationBecky Nave
People Incorporated of Virginia1173 West Main Street
Abingdon, VA [email protected]
P: 276-619-2243
www.whatcanpeopledo.org
Questions?