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Austin Community Development Corporation
Detailed Information
| Basic Charity Information |
| Organization Name: | Austin Community Development Corporation |
| National Organization Name: | |
| EIN: | 742814572 |
| Date Organization Established: | |
| Date Established in Central Texas: | |
| Number of Paid Staff: | 6 |
| Number of Volunteer Staff: | 24 |
| Category 1: | Urban & Community |
| Category 2: | Business & Professional |
| Category 3: | Child Care |
| Category 4: | none |
| Category 5: | none |
| Category 6: | none |
| Keywords: | |
| Contact Information |
| E-Mail: | sache |
| Phone Number: | |
| Fax Number: | |
| TTY: | |
| Web Site: | www.austincdc.org |
| Web Site: | |
| Street Address 1: | 207 Chalmers Avenue |
| Street Address 2: | |
| Street Address 3: | |
| Street Address City: | Austin |
| Street Address State: | TX |
| Street Address Zip: | 78702 |
| Mailing Address 1: | PO Box 15331 |
| Mailing Address 2: | |
| Mailing Address 3: | |
| Mailing Address City: | Austin |
| Mailing Address State: | TX |
| Mailing Address Zip: | |
| Charity Description |
| Mission: | Our Mission
The Austin Community Development Corporation's mission is to promote economic vitality and opportunity in low-income communities by providing financial services and technical assistance to ventures that will:
1. Create jobs for low income people
2. Provide needed goods and services
3. Improve the physical environment
4. Promote diversity in entrepreneurial success
5. Build individual and community assets
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| Program or Service: | Loan Products
The Austin CDC's loan program responds to the needs of small businesses by providing smaller loans with flexible financing structures. The CDC offers two loan products. Our primary product is a Basic Growth Loan, but we can also finance larger projects through the Texas Mezzanine Fund.
Basic Growth Loans
Loan Size $20,000 - $200,000* (our maximum loan amount is subject to capitalization and may fluctuate up or down)
Loan Terms Up to 15 years
Fees 2% of loan at closing plus fees for legal documents and credit checks
*Larger loan requests can be accommodated through partnership loans with local banks.
Texas Mezzanine Fund
The Texas Mezzanine Fund (TMF) is a statewide fund aimed at assisting fast growing businesses requiring larger, longer-term funds. The Austin CDC works in partnership with the TMF to assist larger or more complex ventures.
Loan Size $50,000 - $300,000
Loan Terms up to 15 years
Fees 2% of loan at closing plus fees for legal documents and credit checks
Policy
No applicant will be denied a loan on the basis of race, color, national origin, religion, age, handicap, gender, or sexual orientation. To the extent that this is appropriate, special efforts shall be made to encourage women and minority participation in the Austin CDC's programs.
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| Outcomes: | The Austin CDC's target Investment Area includes businesses located in 81 low and moderate-income census tracts in East and South Austin, the urban core. Seventy-five of these census tracts meet low-income criteria as defined by 20% or greater of the population living in poverty or census tracts with a median income level at or below 80% of the nationwide average. Austin CDC's primary customers are businesses with an average of 5 years in operation and an average of 6.3 employees. Currently Austin CDC clients represent over $23,101,383 in gross sales (not counting clients that have paid off loans or are behind on their reporting requirements).
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| Events Hosted: | East Night 2002
East Austin Economic Forum 2002 |
| How to Donate: | Call 512/472-8087 |
| Financial Information |
| Tax Exempt?: | Yes |
| Fiscal Year End: | |
| Statement Audited?: | Yes |
| Statement Recieved by BBB?: | |
| 990 Recieved by BBB?: | |
| Key Staff |
| Name: | Sache Cantu |
| Title in Organization: | Administrative Assistant |
| Phone Number: | |
| Phone Extension: | |
| E-Mail: | sache |
| Fax Number: | |
| Board Member |
| Name: | Douglas Hartman |
| Title in Organization: | Chairman of the Board |
| Employer Affiliation Title: | Hartman & Associates |
| Phone Number: | |
| Phone Extension: | |
| E-Mail: | |
| Fax Number: | |
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