Spokane Neighborhood Economic Development Alliance

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• Spokane Neighborhood Economic Development Alliance

www.sneda.org 509-444-7633
11-09-06
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Mission Statement

• To empower Spokane and Eastern Washington
  neighborhood residents and their families to earn
  livable pay and share in the prosperity of the
  American Dream in their own neighborhoods.

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Vision

• SNEDA will connect local businesses with 1.5
  million of investment into the community by the
  end of 2007.

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Services

• Individual Technical Assistance
• Business Counseling
• Referrals to appropriate service providers and
  funders
• Financial Services
• Offered to those most likely to succeed in
  generating jobs and self-employment
  opportunities (at livable wages / family
  supporting pay)

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SNEDA Neighborhoods

• East Central
• Northeast
• Peaceful Valley
• West Central
• And most counties
• in eastern Washington

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SNEDA Loan Funds
CDBG Funds off balance sheet until repaid
Banner Bank, - Treasury CDFI, Bank of America
on balance sheet
Operational funds on balance sheet
HHS OCS on balance sheet
Federal City, Foundations, Banks, Corporations,
and Individuals
756,000
176,000 from City of Spokane
700,000
Source
Small Business Non-Profit Loans within Spokane
Community Development (CD) areas to generate jobs
Business and Nonprofit loans in Eastern
Washington with focus on CDFI defined Investment
Areas, especially Hot Zones
SNEDA operations and provision of technical
assistance/ business consulting

• Loans to and equity investment in
• Market Street Market, Inc.,
• A property rehabilitation company

Use
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SNEDA Adding Value to Businesses and Becoming
Self-Sustaining
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SNEDA REVOLVING LOAN FUND
Provides loans to healthy businesses and healthy
non-profits that have been unable to qualify for
conventional bank financing Required Solid
business plans and reasonable financial strength
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SNEDA Loan Examples
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Other Good Outcomes
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Strategic Impact

• Spokane Firsts
• 2003 First CDFI, /- 1700 Nationwide
• Brings in Federal funds OCS / CNCS / CDFI
• Monthly Newsletter
• Community Calendar
• Partnership Registry
• Attempt NMTC Funding for Region
• --Still trying with County, City, Avista, Banks,
  others
• 2004 Low-to Moderate-Income Small Business
  Incubator-- Market Street Market

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Strategic Impact

• Spokane Firsts (cont.)
• 2005
• Bank-Nonprofit-Private Partnership Loans
• Bank investment in a nonprofit CDFI
• 2005-6 Founding Member, State Microenterprise
  Association (AEO)
• 2006
• Supported State Microenterprise Legislation
• Steering committee for www.icanloan.com

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SNEDA Brings Outside Dollars

• The Essence of Economic Development
• OCS re Market Street Market Grant
  2004-2005 250,000
• OCS re Property Rehab Company
  2006-2009 700,000
• Banner Bank Loan Fund
  2004-2005 250,000
• Bank of America Loan Fund
  2006 200,000
• US Treasury and HHS Office of Community Services
  (OCS)
• 2001 75,000
• 2002-2004 400,000
  2005-2006 300,000
• CNCS 2002-2006 55,000
• VISTAs (in kind cash equivalent)
  2003 325,000
• 2004 225,000
  2005 150,000
  2006 150,000
• Outside money supporting Spokane 3,080,000
  

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List of Major Donors federal city, foundations
corporate

• Operations Investment
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• Health and Human Services- ACF- OCS
• Treasury- CDFI
• City of Spokane
• Banner Bank
• Bank of America
• Foundation Northwest
• Corporation for National and Community Service
• Sterling Savings Bank
• Avista Corp
• US Bank
• Wells Fargo
• WAMU

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Sharing Resources

• CNCS VISTA Positions
• 2002 / 2003 13 VISTAs for
• AHANA SNAP
• Community Frameworks
• TINCAN
• 4 Community Centers
• Now 6 VISTAs
• 3 for Community Centers, 3 for SNEDA

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SNEDA Resultsbetween 10/1/02 to 9/30/05

• Full-time jobs subsequent to SNEDAs assistance
  87
• Jobs filled by low-income residents 39
• Business assistance 323 businesses and
  entrepreneurs

Based on an independent evaluation by Paige
Chapel, co-founder of Shorebank Advisory Services
www.sneda.org 509-444-7633