International Institute Community Development Corporation

THE INTERNATIONAL INSTITUTE COMMUNITY DEVELOPMENT CORPORATION'S MISSION IS TO ADVANCE THE LONG-TERM SELF-SUFFICIENCY OF IMMIGRANTS IN THE ST. LOUIS METRO AREA THROUGH MICROLENDING AND OTHER ASSET-BUILDING STRATEGIES.

SEE SCHEDULE O.THE MICROENTERPRISE AND ASSET BUILDING PROGRAM OF THE INTERNATIONAL INSTITUTE COMMUNITY DEVELOPMENT CORPORATION FOCUSES ON 1) CREDIT, ASSET, AND BUSINESS TRAINING AND TECHNICAL ASSISTANCE FOR IMMIGRANTS, 2) MICROLENDING TO IMMIGRANT ENTREPRENEURS, 3) CREDIT BUILDER LOANS, 4) ASSET-BUILDING FOR IMMIGRANTS AND, 5)INCOME TAX PREPARATION ASSISTANCE. USING FUNDS FROM THE OFFICE OF REFUGEE RESETTLEMENT (ORR), LOCAL BANK LINES OF CREDIT, CDFI FINANCIAL ASSISTANCE, AND INSTITUTIONAL DONORS, WE PROVIDE MICRO-LOANS OF UP TO $35,000 TO QUALIFIED IMMIGRANT ENTREPRENEURS. OUR BUSINESS PRODUCTS ARE SUPPORTED BY WRAP AROUNDBUSINESS DEVELOPMENT ASSISTANCE AND TRAINING. WE COVER TOPICS SUCH AS CREDIT COUNSELING, BUSINESS PLAN DEVELOPMENT, FINANCIAL MODELING, AND MARKET ANALYSIS.THROUGH FUNDS PROVIDED BY A PRIVATE DONOR, WE ALSO PROVIDE SMALL-DOLLAR CREDIT BUILDER/REPAIR LOANS TO HELP NEWLY ARRIVED IMMIGRANTS BUILD AND REPAIR CREDIT.INCORPORATED IN 2006, THE INTERNATIONAL INSTITUTE COMMUNITY DEVELOPMENT CORPORATION (IICDC) IS DEDICATED TO EXPANDING OUR MICRO-LENDING SERVICES TO THE BROADER IMMIGRANT COMMUNITY. THE IICDC AND THE INTERNATIONAL INSTITUTE (II) ARE SEPARATELY ORGANIZED ENTITIES, EACH WITH 501(C)(3) STATUS. IICDC IS ORGANIZED AS A SUPPORTING ORGANIZATION OF THE INSTITUTE. THE IICDC RECEIVED CDFI (COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION) STATUS FROM THE US DEPARTMENT OF THE TREASURY IN 2008 AND IN 2013 SUCCESSFULLY COMPLETED THE CDFI RE-CERTIFICATION PROCESS; ACCORDINGLY, THE IICDC BOARD OF DIRECTORS INCLUDES MEMBERS WHO REPRESENT THE TARGET LENDING MARKETS AND FINANCIAL INSTITUTIONS. IICDC LENDING CAPITAL COMPRISES OF UP TO $222,904 FROM PARTNER BANKS LINES OF CREDIT (PNC, MIDWEST BANKCENTRE, CARROLLTON), UP TO $38,427 MADE AVAILABLE BY CDFI FUNDING, UP TO $19,898 MADE AVAILABLE BY THE NARENDER BAWA TRUST FUND, AND $490,327 IN OUR LOAN CAPITAL. IICDC MADE 24 NEW LOANS TO IMMIGRANT AND REFUGEE ENTREPRENEURS IN THE FISCAL YEAR OF 2022, TOTALING $146,750. DURING THIS YEAR, OUR PORTFOLIO MANAGED 47 ACTIVE LOANS WITH THE OUTSTANDING BALANCE OF $156,904.25. FOR THE YEARLY FREE TAX FILING PROGRAM, WE HOSTED WEEKLY EVENTS AND COMPLETED 702 RETURNS FOR INDIVIDUALS AND HOUSEHOLDS. THE TOTAL REFUNDS GENERATED FROM THE ACTIVITIES WAS $926,800 FOR BOTH STATE AND FEDERAL RETURNS. THESE SERVICES LED TO $174,980 IN COST AVOIDANCE DUE TO THE TAX PREPARATION FEES BEING OFFERED AT NO COST.