At the end of its 3-year Commitment to America, the NALCAB Network cumulatively secured $98,657,224 in new capital for business lending. To date, this capital resulted in a total of $180,430,555 in micro and small business loans going to 6,333 small businesses from across the nation and stimulated the creation of 15,494 new jobs in low-to-moderate Latino communities. To support place-based revitalization and commercial growth efforts, the NALCAB Network received a total of $37,020,551 in funding for neighborhood economic development projects, including $16.3 million awarded to the following NALCAB Network partners through the US HHS Office of Community Services: Conexin Americas (Nashville, TN), LEDC (Minneapolis, MN), LEAD-Idaho (Blackfoot, ID), Hacienda CDC (Portland, OR), Nogales CDC (Nogales, AZ), Ventures (Seattle, WA), VEDC (Los Angeles, CA), Fresno EOC (Fresno, CA), CPLC (Phoenix, AZ), Siete del Norte (Embudo, NM), MEDA (San Francisco, CA), HEDC (Kansas City), SAGE (San Antonio, TX), Mandela MarketPlace (Oakland, CA), El Pajaro CDC (Watsonville, CA), and The Resurrection Project (Chicago, IL).
Further, the Immigrant Development Center (Fargo, ND MSA), Nogales CDC, and Tierra del Sol (Las Cruces, NM) all received CDFI certification during the commitment period with assistance from NALCAB. While another four nonprofits,NALCAB (San Antonio, TX), The Resurrection Project, MEDA, and Midlands CDC (Omaha, NE) all either received financial support from the CDFI Fund or are in the process of requesting such support and plan on being certified CDFIs by the end of 2016.
Additionally, the NALCAB Network achieved the following outcomes: 34,160 small business owners received small business development service training and technical assistance,7,987 women received access to empowerment services, and 6,601 individuals received access to information technology services.
During the Commitment period, to increase the capacity and effectiveness of members of its Network, NALCAB administered over $3.2 million in grants to 50+ nonprofits serving predominantly Latino underserved communities. These grants were used to launch or strengthen programming that provides local small business owners with access to technical assistance and capital. To further improve the ability of its members to carry out asset-building activities, NALCAB provided over 250 practitioners from 75+ non-profits with training in small business development services. To undertake these efforts, NALCAB received over $6 million from Wal-Mart Foundation/Sam's Club Giving, JPMorgan Chase Foundation, Citi Foundation, Citi Community Development, Surdna Foundation, Northwest Area Foundation, Mary Reynolds Babcock Foundation, and Capital One.