NEIGHBORHOOD DEVELOPMENT CENTER
"Microloans" The funds borrowed from the SBA will be lent to small businesses in Minneapolis and Saint Paul.
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| AWARD OVERVIEW |
| Award Number |
3572475002 |
Funding Agency |
Small Business Administration |
| Total Award Amount |
$700,000 |
Project Location - City |
Saint Paul |
| Award Date |
08/13/2009 |
Project Location - State |
MN |
| Project Status |
Completed |
Project Location - Zip |
55104-4802
|
| Jobs Reported |
0.00 |
Congressional District |
04 |
| Project Location - Country |
US |
|
|
Recipient Information
(Loans)
| Recipient Information (Loans) |
|
Recipient Name
|
NEIGHBORHOOD DEVELOPMENT CENTER |
| Recipient DUNS Number |
149530995
|
| Recipient Address |
663 UNIVERSITY AVE W STE 200 |
| Recipient City |
SAINT PAUL |
| Recipient State |
Minnesota |
| Recipient Zip |
55104-5097 |
| Recipient Congressional District |
04 |
| Recipient Country |
USA |
Required to Report Top 5
Highly Compensated Officials |
No |
Projects and Jobs Information
| Projects and Jobs Information |
| Project Title |
Microloans |
| Project Status |
Completed |
| Final Project Report Submitted |
Yes |
| Project Activities Description |
Community Economic Development |
| Quarterly Activities/Project Description |
During the quarter Neighborhood Development Center approved and disbursed 1 small business loan totaling $10,000.00. This loan was made to a small business that would have otherwise not been able to obtain financing. The result was that the small business was expanded and is opening a new location. With that, no jobs were directly created or retained. NDC will continue making small business loans to similar businesses. It is expected that future loans will have similar results in terms of jobs saved and created, resulting in more than 15 jobs created or saved when all $700,000 is lent. |
| Jobs Created |
0.00 |
| Description of Jobs Created |
Microborrowers directly created or retained 0.0 jobs with the loan proceeds in quarter three. |
Purchaser Information
(Loans)
| Purchaser Information |
| Contracting Office ID |
Not Reported |
| Contracting Office Name |
Not Available |
| Contracting Office Region |
Not Available |
| TAS Major Program |
73-4279 |
| Award Information |
| Award Date |
08/13/2009 |
| Award Number |
3572475002 |
| Order Number |
|
| Award Type |
Loans |
| Funding Agency ID |
73 |
| Funding Agency Name |
Small Business Administration |
| Funding Office Name |
Not Available |
| Awarding Agency ID |
73 |
| Awarding Agency Name |
Small Business Administration |
| Amount of Award |
$700,000 |
| Funds Invoiced/Received |
$700,000 |
| Expenditure Amount |
$616,336 |
| Infrastructure Expenditure Amount |
$0 |
| Infrastructure Purpose and Rationale |
Not Reported |
| Infrastructure Point of Contact Name |
Not Reported |
| Infrastructure Point of Contact Email |
Not Reported |
| Infrastructure Point of Contact Phone |
Not Reported |
| Infrastructure Point of Contact Address |
Not Reported |
| Infrastructure Point of Contact City |
Not Reported |
| Infrastructure Point of Contact State |
Not Reported |
| Infrastructure Point of Contact Zip |
Not Reported |
Product or Service Information
(Loans)
| Product or Service Information |
| Primary Activity Code |
S02 |
| Activity Description |
Community Economic Development |
| Sub-Awards Information |
| Sub-awards to Organizations |
0 |
| Sub-award Amounts to Organizations |
$0 |
| Sub-Awards to Individuals |
0 |
| Sub-Award Amounts to Individuals |
$0 |
| Number of Sub-awards less than $25,000/award |
0 |
| Amount of Sub-awards less than $25,000/award |
$0 |
| Number of payments to vendors greater than $25,000 |
0 |
| Total Amount of payments to vendors greater than $25,000/award |
$0 |
| Number of payments to vendors less than $25,000/award |
0 |
| Total Amount of payments to vendors less than $25,000/award |
$0 |
| Location Information |
| Latitude, Longitude |
44º 57' 20",
-93º 7' 41" |
| Congressional District |
04 |
| Address 1 |
663 University Avenue |
| Address 2 |
Suite 200 |
| City |
Saint Paul |
| County |
Ramsey |
| State |
MN |
| Zip |
55104-4802 |
|
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