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Microenterprise Finance in Areas Affected by Hurricanes Katrina and Rita

Hope Enterprise Corporation

  • Program Education
  • Program Area Special Initiatives
  • Grant Amount $500,000
  • Grant Period May 1, 2006–April 30, 2008
  • Location Jackson, MS, United States
  • Geographic Focus Alabama, Louisiana, Mississippi

About this grant

This grant will enable Enterprise Corporation of the Delta (ECD) to provide more than $2 million in microenterprise loans to nearly 100 low-income and minority small business owners whose assets were destroyed by hurricanes Katrina and Rita. ECD will partner with Hope Community Credit Union, which has opened no-fee checking and savings accounts for individuals and businesses affected by the storms. The project builds on strong networks with faith- and community-based organizations that work closely with low-income residents, and on the credit union’s ability to leverage grant funds with insured deposits.ECD is a nonprofit organization dedicated to strengthening communities, building assets and improving lives in economically distressed areas in the Mid South.