Company Information

LRCDC was created and chartered in January of 2002, pursuant to a recommendation in LRDA's Five Year Strategic Plan.  This planning document called for this new agency to concentrate and focus solely on economic development to create jobs and wealth among the LRDA clients.  LRDA appointed the initial four board members and LRCDC began operations.  Bylaws and operating procedures were written and approved and training of the Board , staff, and consultants initiated.

Two grant applications were developed for this new non-profit corporation.  The first was a  low income business planning grant from the office of Community Services.  The second was a Native American technical assistance grant from the US Treasury Department to assist in the establishment of a Community Development Financial Institution to foster job creating business development through loans and business training.  Both grants were approved by the respective federal agencies. A second grant application was prepared and financed for financial development of CDFI that included Treasury Department Certification, additional loans, and financial counseling and assistance to clients.

With the resources provided from the grants corporate and program development continued.  National consultants provided board and staff training and all parts of the program developed.  A five member loan committee was formed, lending policies written, and a market study undertaken by the Economic Development Office of UNCP and a  Capitalization Strategy developed.  Under the OCS business panning grant new business ideas were solicited for business plan development and future funding of an operational project.

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Copyright © 2007-2008 Lumbee Revitalization and Community Development Corporation

Last modified:  November 7, 2007