HWCC Awarded $125,000 from the U.S. Department of Treasury CDFI Fund
HWCC Receives Second Round of CDFI Funding
The Hmong Wisconsin Chamber of Commerce (HWCC) is proud to announce an award of $125,000 from the U.S. Treasury Department's Community Development Financial Institutions (CDFI) Technical Assistance (TA) Fund. HWCC was one of six Wisconsin organizations to receive an award for the 2015 funding cycle.
HWCC's board of directors and staff are grateful for the continued support and investment of the CDFI Fund. In 2012, HWCC received its first CDFI TA grant. This award supported HWCC's work in developing the infrastructure for the Revolving Loan Fund (RLF) program and strengthening organizational capacity resulting in the award of CDFI certification in 2014.
The 2015 CDFI TA grant will support HWCC's strategic goals of growing our existing RLF program and expanding TA services to businesses and entrepreneurs throughout the State. As a statewide economic development organization, HWCC is open to all undeserved businesses in Wisconsin with a special focus on the Hmong and Southeast Asian populations.
To our many partners and supporters, we thank you for your trust and support of our mission. Our special thanks go to Wisconsin Economic Development Corporation (WEDC) for providing three rounds of seed capital supporting the HWCC RLF program and two rounds of the TA Grant; Milwaukee Economic Development Corporation, Tri City National Bank and Town Bank for providing matching capital to the HWCC RLF program. Your support and investment made it possible for HWCC to provide affordable capital to Hmong and Southeast Asian businesses and entrepreneurs.
The 2015 CDFI Fund awarded 195 CDFIs throughout the nation totaling over $200 million. The CDFI Program invests in and builds the capacity of community credit unions, banks, loan funds, and other financial institutions serving rural and urban communities across the nation that lack adequate access to affordable financial products and services.