PATHWAYS TO BUSINESS BANKING PROGRAM
First American Capital Corporation (FACC) was formed in 2002, by the American Indian Chamber of Commerce of Wisconsin (AICCW)
At that time, a growing number of Native American owned businesses encountered barriers in the way of accessing business loans for start-up costs, purchasing equipment, working capital and lines of credit – all essential to starting and growing a business.
When a Native business owner hears “No” from banks, it can stop growth opportunities from being realized, force business owners to seek out high-interest predatory lenders, or in some cases, go out of business. The barriers to business loans faced by many entrepreneurs are associated with the credit standards of the mainstream banking industry – sometimes referred to as the “5 C’s of Credit.”
THE 5 C'S OF CREDIT
WE CAN HELP WHEN YOUR BUSINESS IS DENIED
OR DOES NOT QUALIFY FOR A BUSINESS BANK LOAN
PATHWAYS TO SUCCESS
ONE-ON-ONE COUNSELING SERVICES
• Business Planning Assistance e.g.,
defensible 3-year financial projections
• Pro bono Business Legal Assistance
• Loan Packaging Assistance
• Business Management Assistance
e.g., HR, marketing
• Financial Management Assistance
e.g., using accounting software systems
• Periodic Business Performance Reviews
Bank Credit Standards Readiness Check
• FACC Borrower Annual Review Benchmarking, Annual Metrics Progress
• Business Development into Government Contracting Assistance
• Construction Safety Assistance
• Business Growth and Expansion Assistance
• Business Bank Transition Coaching
Preparing to Graduate from the FACC Portfolio
• Ongoing Business Safety Net Services
throughout the business life cycle
• Business Succession Planning Assistance
FACC Workshop Series throughout the year. The FACC offers a wide diversity of standalone workshops and classes as well as features sessions at statewide conferences and events
The commitment of FACC is to invest available resources to facilitate feasible business start-ups, assist viable existing businesses to survive short term downturns, and help growing businesses to capitalize upon identified opportunities through expansions. The FACC Business Capacity Building Services One-to-One Counseling topics include but are not limited to:
TOGETHER WE BUILD BETTER BUSINESS
Our vast and strong connections with a wide range of bank partners, tribal & nonprofit organizations and private sector subject experts, provide you with a wide range of no-cost one-on-one business capacity building services, business coaching/mentoring and workshop training sessions. The FACC works in cooperation with 3 other Native CDFIs located in Wisconsin – this alliance is called Wisconsin Indian Business Alliance (WIBA) wibanative.org. FACC business capacity building development services (one-to-one business counseling and workshops) is managed through FACC Pathways to Business Banking Program division – designed to work individually with FACC clients through a process of business planning, performance analysis, access to FACC loan products and business growth strategies – working with you towards helping to qualify for the credit standards of business and commercial banks.
PATHWAYS TO BUSINESS REFERRAL NETWORK
First American Capital Corporation (FACC) was formed in 2002, by the American Indian Chamber of Commerce of Wisconsin (AICCW).
Since then, we have help Native Americans, minorities, and anyone looking to strengthen and grow their business through one-on-one services. First American Capital Corporation (FACC) – Building two-way bank referral networks for our clients through the Pathways to Business Banking Program.
The commitment of FACC is to – on a case-by-case basis – invest available resources to facilitate feasible business start-ups, assist viable existing businesses to survive short term downturns, and help growing businesses to capitalize upon identified opportunities through expansions.
DON'T SAY NO. SAY FACC!
The FACC understands as a CDFI, that our Borrowers will be of higher credit risk and most will be initially unable to meet the credit requirements of commercial banks.
However, FACC also understands that we are just one step along a continuum of credit sources for our borrowers. One goal of our Pathways to Business Banking program is to be their interim/initial lender and work with each borrower to get them into a position where they can graduate to the credit standards of the mainstream banking industry.
Working with a borrower to strengthen their weaknesses and build upon their strengthens protects FACC assets, and allows the Borrower to grow and eventually graduate out of our portfolio. When the loan is repaid, we can re-lend those funds to another applicant and continue this helping hand up process.
When you have a loan inquiry that does not meet/exceed established credit requirements, or if the deal needs a gap filled or participation, “Don’t say no, say FACC…”. In turn, when FACC has qualifying borrowers/clients searching for a business banking relationship, we would like to introduce them to you!
Through a series of ever-growing FACC business loans, paired with individualized one-to-one business capacity building development services and periodic business performance reviews, coaching and our Bank Credit Standards Readiness Checklist we are able to document when our borrowers are nearing qualifications to ‘graduate’ on to the credit standards of the mainstream banking industry. It is at this time we would like to make introductions for future business banking relationships with our clients throughout Wisconsin.
We are also beginning a process throughout Wisconsin to be in the community bank referral network for receiving prospective borrowers and/or business development capacity building services clients who do not currently meet your bank’s credit standards. In this case, we would like to discuss the respective clients’ identified weaknesses and develop a corrective action plan with our bank representative partners to build capacity, monitor and return prospective borrowers to you once they meet or exceed credit requirements… In addition, the FACC offers continued business safety-net services through our clients’ business life cycles once they graduate from our portfolio, offering additional risk mitigation inputs over time.
FACC is committed to lending fairness and fair lending practices. FACC or any employee thereof, shall not discriminate against any credit request on the basis of race, color, religion, national origin, marital status, age, sex, sexual orientation, disability, and familial status. All loan products of FACC shall be available to all applicants on a consistent and fair basis provided the applicants meet our loan policy requirements.
The limiting factor of this policy is mandatory compliance with funding partner’s conditions of sub-fund levels which must be invested into the specified targeted markets per the grant or loan requirements.