Anchor Financial Services
Anchor Financial Services
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About this organization
Mission
Anchor bridges the government gap by emulating urban opportunities within rural markets to stimulate economic expansion and promote sustainable job growth. Supporting America's underserved communities through creative lending initiatives designed to provide long-term, cost-effective financing strategies. Building strong diverse vibrant communities where access to capital is within reach for those committed to entrepreneurship, hard work, and the American Dream.
About
Community Advantage Loan Program - Administer an outstanding loan portfolio of 109 loans with outstanding principal balances of $7,917,255. During 2019, 32 loans totaling $3,091,000 were approved and 33 loans totaling $3,321,000 were funded. This program provides loans to small businesses for working capital, inventory, leasehold improvements, and other general business expenses. 69.0% of the loans were provided to small businesses within Underserved Markets and 416.5 jobs have been created. 1,572.25 hours of technical support have been provided. The Community Advantage Loan Program adheres to the policies and procedures set forth by the U.S. Small Business Administration.
Interesting data from their 2020 990 filing
The non-profit's mission, as documented in the filing, is “To promote economic development and sustainable job growth through financing of viable small businesses by being an agent of the government,a partner for community banks and a champion for businesses.”.
When explaining its purpose, the activities were described as: “To improve the lives of disadvantaged people and strengthen distressed communities through innovative finance.”.
- The non-profit is legally allowed to operate in the state of OH, as reported.
- The filing provides the non-profit's address in 2020 as 955 Commerce Dr No A, Perrysburg, OH, 43551.
- The non-profit has a total of 7 employees, as reported on their form for 2020.
- Is not a private foundation.
- Expenses are between $500,000 and $1,000,000+.
- Revenue is between $500,000 and $1,000,000+.
- Revenue less expenses is $59,043.
- The organization has 4 independent voting members.
- The organization was formed in 2006.
- The organization pays $396,298 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.