GREENWOOD COMMUNITY DEVELOPMENT CORPORATION

The PRIMARY MISSION of the Greenwood Community Development Corporation (GCDC) is to alleviate the high level of social and economic distress in North Tulsa by providing financial and investment opportunities that promote economic development and job creation. The GCDC, a 501 (c) 3 non-profit, community-based corporation, operates under the auspices of the Greenwood Chamber of Commerce. The Greenwood Community Development Corporation provides economic and community development services to a target market area that includes twenty-four (24) contiguous census tracts, bounded by 66th Street on the north, Admiral on the south, Mingo on the east and 49th Street on the west. The North Tulsa community is home to a majority of Tulsa’s African-American population according to the 2000 U.S. Census Report North Tulsa.

Population Size...66,306
Percent living below poverty level…35%
Percent of households earning below the national median family income...61.9%
Percent of employable residents who are unemployed…16%
Percent of housing stock that is distressed...23%

In order to effectuate meaningful community development activated within North Tulsa, the Greenwood Community Development Corporation has developed three major business development components:

• Micro Lending Program: Established in 1996, the Micro-Lending program is one of three such programs in the City of Tulsa. Maximum loan amount $35,000.

• Small Business Intermediary Micro Lender: Certified in 1999 by the U.S. Small Business Administration to increase lending opportunities in North Tulsa.

• Community Development Financial Institution: Certified in 1998 by the U.S. Department of the Treasury to manage a community Development Loan Fund. The GCDC will soon have the capacity to offer loan products and services that include: Construction, Pre-Development and Facilities, Business Start-ups and Expansions.