RURAL ECONOMIC DEVELOPMENT APRIL 28, 2015

Kevin Boes, President & CEO of LISC’s New Markets Support Corporation (moderator) Keith Bisson, Senior Vice President, Program Management and Development for Coastal Enterprises, Wiscasset, ME Amanda Blondeau, Director, Northern Initiatives Business Advancement Center for Northern Initiatives, Marquette, MI Marcia Erickson and Lori Finnesand, co-CEOs of GROW South Dakota, Sisseton, SD Today’s Presenters

CEI’s Northern Heritage Development Fund Keith R. Bisson SVP, Program Management and Development Coastal Enterprises, Inc. (CEI) Rural LISC Rural Economic Development Webinar April 28, 2015

The CDC/CDFI: CEI Mission: To help create economically and environmentally healthy communities in which all people, especially those with low incomes, can reach their full potential Organized as a CDC in 1977, certified as a CDFI in 1995 Support the Triple Bottom Line – Economy, Equity and Environment $835 million in capital under management/committed 2,460 businesses financed $2.74 billion leveraged 46,449 businesses/people counseled 30,650 full-time jobs at loan closing 1,672 affordable housing units created/preserved 5,611 child care slots created/preserved

Highest poverty and unemployment rates in Maine (16.5% and 9.7%) 55.5% children receive free/reduced lunch (vs. 45.9% statewide) 21% population participating in SNAP vs. 16% statewide 19% households receive LIHEAP benefits vs. 11% statewide Inadequate housing Nearly half of homes built before % residents cannot afford average rent for 2BR apartment The Region: Maine’s “Rim Counties”

Key Objectives Job creation for low- income individuals Workforce training for low-income workers Rental opportunities for low-income residents Creation of community facilities such as child care and elderly care facilities

Northern Heritage Development Fund $12 million loan fund capitalized with grants and equity 15 Sources of Funds So far: Invested $22.9 million in 155 businesses and 5 housing projects 2,142 jobs Housing for 339 people 2,500 businesses/ individuals counseled Leveraged $54.7 million, primarily from banks

The CEI Team: Keith Bisson, SVP, Program Management and Development Experienced team of five loan officers with complete loan servicing staff Business Development Services division with 12 experienced business counselors Programmatic staff focused on sectors and issues key to Maine’s rim counties: fisheries, farming, forestry, energy, workforce development

Mayo Mill – Dover-FoxcroftAxiom Technologies LLC Mano En Mano

GROW South Dakota is an equal housing opportunity organization. Lori Finnesand & Marcia Erickson

 1,881 loans to 1,156 businesses since 1978  $60.6 million in financing historically  Partner with more than 90 local banks Supporting new and existing businesses with affordable financing and technical assistance

 Direct Loans  $500 to $250,000  Over $50, % bank participation/partner  Certificate of Deposit (CD)Pledge Loans  Guarantee up to 50% of a bank loan  Maximum of $20,000

 City and Regional Development Corps.  State Resources  Partnerships with Banks  Shares the Risk  $30 million in Total Assets

 USDA Rural Development  Intermediary Relending Program (IRP)  Rural Microenterprise Assistance Program (RMAP)  Rural Economic Loan and Grant Program (REDLG)  Community Development Financial Institution (CDFI)  Small Business Administration  Microloan Program  Intermediary Lending Program

Beyond Lending  Assistance to Borrowers:  SBA Microloan and RMAP provide TA grants  Specific one-on-one assistance  Weekly newsletter – variety of topics  Assistance to Communities:  Quarterly Meetings  Regional Round Table  Trainings

104 Ash Street East Sisseton, SD

MONEY AND KNOW-HOW. Every business owner needs both.

Our Mission We deliver loans and business services to small business owners who create jobs.

Each loan comes with access to a suite of trainings and tools on Money, Marketing, and Management Business ownership one path to wealth creation SBA states, “50% of businesses survive 5 years or more” Not enough to simply provide capital; knowledge supports wealth creation and business growth

Money and know-how. Every business owner needs both. Receive Your Loan Tell Us About Your Business Skills Take Advantage of Expert Trainings, Hands On Tools, and Templates Connect With A Coach

View Video Trainings Calculate break- even, markup, ratios and sales by product or service Recommended articles based on preferences Ask a question and connect with peers Connect with NI coaches and receive updates Track progress towards training plan

Prosperity For All NI PORTAL 100% of NI’s Customers Have Access to TA =

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