Community Developments Investments (November 2013)
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Financing Business Development and Expansion in Rural America
We focus on initiatives that have allowed banks to expand their financing for small business development in rural areas across America. We highlight these enterprising examples because rural communities offer opportunities and resources that you will not want to overlook.
This federal-state partnership has helped significantly reduce the number of high-poverty counties in Appalachia by developing strategies for addressing the region's capital and credit challenges.
Appalachian Regional Commission Success Stories
A bank executive tells how his company has served its predominantly rural communities using a U.S. Small Business Administration initiative that focuses on small-scale loans and is designed for banks that make fewer than 20 such loans a year.
After being turned down for a loan by several banks, a rural manufacturer got the financing it needed to stabilize and grow with a loan package put together by a bank working with a U.S. Department of Agriculture program.
Wells Fargo describes how it uses the New Markets Tax Credit Program as an important tool for investing in operating businesses and real estate projects in low-income areas.
Deal Highlight: Schulz Xtruded Products
Northern Initiatives shows how partnering with a community development financial institution can increase underwriting flexibility to help bankers say "yes" to more borrowers.
We outline the types of bank activities that could receive Community Reinvestment Act consideration under current rules.
The OCC's four districts report on new opportunities for banks.
This publication is part of:
Collection: Community Developments Investments
Deputy Comptroller
Barry Wides
Staff Writers
Ted Wartell
Bill Reeves
Letty Ann Shapiro
Dianne Davenport
For questions or comments, call (202) 649-6420 or email communityaffairs@occ.treas.gov. This and previous editions are available on the OCC's website at www.occ.gov.
Disclaimer
Articles by non-OCC authors represent the authors' own views and not necessarily the views of the OCC.
Deputy Comptroller
Barry Wides
Editorial Staff
Ted Wartell
Bill Reeves
David Black
Dan Gibbard
Design Staff
Rick Shacklette
Cheryle Robison
For questions or comments, call (202) 649-6420 or email communityaffairs@occ.treas.gov. This and previous editions are available on the OCC's website at www.occ.gov.
Disclaimer
Articles by non-OCC authors represent the authors' own views and not necessarily the views of the OCC.