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Western Massachusetts Enterprise Fund Inc.
Greenfield MACDFI Awards for Western Massachusetts Enterprise Fund Inc.
FA (2009) - $600,000
Western Massachusetts Enterprise Fund, Inc. (WMEF) is a nonprofit CDFI in operation since 1987. WMEF serves a Low Income Targeted Population in western Massachusetts and northern Worcester County in central Massachusetts. The organization provides development services, micro-loans, and subordinate small business loans to entrepreneurs, businesses, and nonprofits which are otherwise unable to obtain financing. WMEF will use its FY09 Financial Assistance award for loan capital and its FY09 Technical Assistance grant to develop new loan products, upgrade management information systems, acquire equipment, and support training opportunities.
FA (2007) - $367,523
The Western Massachusetts Enterprise Fund (WMEF) is a certified CDFI established in 1987. WMEF provides micro-loans and subordinate financing for small businesses in western Massachusetts, a rural area with two small cities. The Awardee will use the FY07 Financial Assistance Award to fund its three primary products: 1) Micro-enterprise Loans; 2) Small Business Loans; and 3) Royalty (near equity) Loans. The Technical Assistance Award will be used to enhance WMEF"s capacity in marketing, management systems, and staff training.
FA (2004) - $52,000
Western Massachusetts Enterprise Fund Inc. (WMEF) will use the award to allow WMEF to enhance its capacity to serve a larger tarket market.
CORE (2001) - $500,000
WMEF received a grant award of $500,000 from the CDFI Fund. With these funds, the organization will continue offering micro loans, but will also increase the percentage of lower risk, larger, small business loans in its portfolio.
SECA (1999) - $50,000
The technical assistance grant will be used to develop a web site; for development of a marketing plan; on -site peer consultation with a CDFI; and board training and redevelopment.
Other Community Development Financial Institutions in Massachusetts
ACCION USA
Boston
AI Wainwright LLC
Boston
BCLF Ventures II, LLC
Boston
Institute for Community Economics
Springfield
Jobs for Fall River, Inc.
Fall River
Local Enterprise Assistance Fund
Brookline
MHIC, LLC
Boston
NOAH Community Development Fund, Inc.
East Boston
UECDF Corporation
Roxbury
WCHR Securities, Inc.
Worcester
YouthBuild Loan Fund
Somerville
Featured Government Grant Resources
Small Business Administration's Portable Assistance Program
The Small Business Administration has established the Portable Assistance Program wherein they seek to provide grants to Small Business Development Lead Centers that provide services to small businesses in an effort to increase the success of small business establishments and their viability in certain communities where economic hardship is apparent and is attributable to the impact of a major disaster.
Small Business Administration's Small Business Investment Companies
The Small Business Investment Companies Program revolves around the notion of developing privately owned and managed investment companies which will be licenses and regulated by the Small Business Administration, so as to provide equity capital, long term loans, and advisory services to small business requiring such services.
Social Entrepreneurship
Spotlight
Childcare Charitable Group Named Top Social Enterprise
Employers For Childcare Charitable Group (EFCG), a Lisburn-based charity, has been crowned top Social Enterprise at the Ulster Final of 2014’s Ulster Bank Business Achievers Awards. EFCG seeks to “make it easier for parents with dependent children to get into work and to stay in work.”
