US Department of Treasury Awards Community Development Financial Institution (CDFI) Certification to Central County Community Development Corporation
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Alica Brown
abrown@ulbcfl.org
(954) 625-2544
US Department of Treasury Awards Community Development Financial Institution (CDFI) Certification to Central County Community Development Corporation
CCCDC becomes the only Black-led lender in Broward to earn CDFI designation
Fort Lauderdale, FL - November 21, 2020 - Urban League of Broward County is pleased to announce that its subsidiary, Central County Community Development Corporation, has been certified as a Community Development Financial Institution (CDFI) by the US Department of Treasury. This designation is federal recognition of CCCDC’s mission and successful history of advancing community and economic development.
Founded in 1993, the CCCDC was established to address revitalization in blighted neighborhoods throughout Broward County. In 2015, the corporation expanded its profile to provide access to capital and business development services through the Urban League’s Entrepreneurship Center. As a certified CDFI, the CCCDC’s Small Business Loan Fund will operate as a direct lender – providing small business loans between $10,000 and $250,000 — with flexible underwriting guidelines for minority entrepreneurs and small businesses in Broward, Miami-Dade and Palm Beach counties. “We are honored to join an inspiring group of mission-driven institutions committed to creating thriving and sustainable communities,'' said Dr. Germaine Smith-Baugh, President and CEO of Urban League of Broward County and chair of the CCCDC Board of Directors. “Being awarded this special designation, especially during a period of economic uncertainty, will expand the CCCDC’s ability to provide access to capital, create jobs and build wealth for families.”
All business owners that the CCCDC serves will be offered technical assistance through the Urban League’s Entrepreneurship Center which provides business development, coaching and group education. The CCCDC will begin accepting loan applications for the Small Business Loan Fund on its newly developed website www.cccdcorp.com. CCCDC Loan Fund investors include BankUnited and Synovus.
To learn more about the CCCDC, Small Business Loan Fund and the Urban League of Broward County, contact (954) 584-0777.
About the Central County Community Development Corporation
The Central County Community Development Corporation’s Small Business Loan Fund is the only Community Development Financial Institution (CDFI) located in Broward County, FL. Working with regional Entrepreneurship Centers of Urban League Affiliates, our loan fund brings together an alliance of business owners, corporations, community partners and financial institutions to accelerate our efforts of giving minority and women entrepreneurs access to money, markets, and management.