Overview

Why are you interested in becoming a Trustee?

We are committed to rehabilitating both people and property in this community, said Board President Dennis Dear. “By providing financial literacy workshops, entrepreneurship [classes] … and career development programs, we plan to promote financial stability and sustainable economic development practices to those who live and work in the community.”

What is the mission of your organization?

Our Mission The mission of New Covenant CDC is to empower individuals and families through educational programs, real estate/business development and job readiness/creation initiatives that will promote financial stability and sustainable economic development. Our Vision The vision of New Covenant CDC is to create a replicable sustainable economic development model to provide affordable home ownership opportunities and programs for low income and undeserved minority residents.

Borrower Due Diligence

How will you decide who to endorse as a borrower? What due diligence will you conduct?

We will only endorse potential borrowers that are clients of NCCDC. We review the financials of any existing businesses. New businesses will have their financials created as part of one of our ten classes. This gives a very good idea as to their ability to pay loans. In addition to that, with our one on one advising, we get to know these individuals personally. This speaks to their likelihood to make good decisions, which include paying back any loan. This process really gives us an opportunity to really get to know the borrower. We will not endorse anyone we believe will reflect negatively on our good work.