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OCT. 8, 1997
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Page C9
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EA/E LODMEN
M ìnorìt 111
Minority-owned Bank Continues Success
' __
North/Northeast's Albina Community Bank awarded federal funds
he Community Develop
ment Financial Institu
tions Fund, a program of
the Department of the Treasury,
announced a $400,000 equity in
vestment in Albina Community
T
Bank.
The bank, P o rtlan d ’s only
community development bank,
was one o f 48 community devel
opment financial institutions in
the nation, to be awarded funds.
This investment in the bank's
core capital strengthens its capi
tal base and provides resources
for its continued growth.
The bank has grown from $ 19
million in assets to $29.7 million
the past nine months, an increase
of 50%, and doubled in size in the
past twelve months.
“We consider it a significant
vote of confidence that the De
partment of the Treasury is mak
ing additional funds available to
us to continue our work in Port
land,” stated Leon Smith, bank
president/CEO. “Moreover, in
stead of basing its decision solely
upon projections, this award ac
knowledges the track record the
bank has compiled since incep
tion, in December 1995.”
Albina Community Bank was
created to focus its redevelop
ment effort in North/Northeast
Portland and with minority and
women-owned businesses.
Open twenty-two months, the
bank has provided $ 15 million in
commercial loans, with 67% go
ing to minority or women-owned
businesses.
It has also financed $ 11 million
in home loans, of which 75% are
in N/NE Portland.
The bank is also involved in
several micro-lending programs
and various p artn ersh ip s to
stimulate small business devel
opment.
The CDFI Fund was created by
president Clinton in 1994, to ex
pand the availability of credit,
investment capital and financial
services in distressed urban and
rural communities.
The Fund awarded a total of
$38.3 million in financial and tech
nical assistance, this year.
faton
6 3 8 Pi K illin g s w o rth St.
P o rtla n d , O rego n 9 7 2 17
7 3 5 -2 8 1 0
Representatives from Providence Health Systems enjoy a break in the action during minority and student recruitment at the PCCjob fair.
Celebrates
Minority
Business Week
(Photo by M. Washington)
Career Opportunities In Apprenticeship
U.A. Local #290 Plumbers & Steamfitters Training Center
20220 S.W. Teton Ave. Tualatin
Phone: 503 691-1997
Fax: 503 691-0908
Applications will be taken in 1997; call for information
NOTICE OF NON-DISCRIMINATORY POLICY AS TO STUDENTS
The United Association Local 290 Apprenticeship and Journeyman Trust Fund
admits students of any race, color, national and ethnic origin to all rights,
privileges, programs and activities generally accorded or made available to
apprentices at the school. It does not discriminate on the basis of race, color,
national and ethnic origin in administration of its apprenticeship police,
admission policies, and other Trust-administered programs.
ASSISTANCE FOR YOUR BUSINESS!!
Portland Community College’s
Small Business Development Center
Here to assist those individuals contemplating,
starting their own business or those already in business.
%
Services Include:
One-on-one Business Counseling
!<
Resource Center
Entrepreneurial Library
V
I
Classes and Workshops
ilx l<
Quick Start I and II Programs
Small Business Management Entrepreneurial Series
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Now Available In Columbia County...
Free Business Advising!
Call our St. Helens number (503) 397-1131. for appointment availability.
Classes and Workshops held at the Columbia Center
375 S 18th St., St. Helen, OR
Call (503) 978-5080 or Fax: (503) 222-2570
Montgomery Park, Suite 730, 2701 NW Vaughn St., Portland. OR 97210
Hours: Mon-Fri 8am - 5pm, some evenings and Saturdays - Please call ahead
AttorneysatLow
722 SUI 2nd Av. Suite 240
Portland, Oregon 97204
503.294.1414
F3
PGE's Ed Bunn.
On call,
on the move
24 hours a day,