Trustee: Fairbanks Economic Development Corporation

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Overview

Why are you interested in becoming a Trustee?
The Fairbanks Economic Development Corporation is interested in the diversification of our region's economy. We believe that Small businesses and entrepreneurs are a crucial component in the creation of jobs and opportunity for the residents of Interior Alaska. The Kiva platform represents a powerful tool with which to assist the people of our region in creating real and lasting economic opportunities.
What is the mission of your organization?
The Mission of the Fairbanks Economic Development Corporation is to assist in creating new jobs and new economic opportunities for the residents of the Fairbanks North Star Borough.

Borrower Due Diligence

How will you decide who to endorse as a borrower? What due diligence will you conduct?
The Fairbanks Economic Development Corporation has been serving the residents of the Fairbanks North Star Borough and Interior Alaska for 38 years. The president and CEO of the FEDC is a life long resident of Fairbanks and has successfully operated a number of small and large businesses within the region. As a Trustee the FEDC is committed to endorsing borrowers who have proven themselves to be trustworthy, socially responsible, intelligent and committed members of the community. The FEDC staff consists of former business owners, MBA graduates, development specialists and outreach coordinators. After a candidate has been chosen based on their reputation in the community a formal due diligence process will be conducted. This process will include business and marketing plan review, or validated business model review for startups; financial reviews including balance sheet and cash flow analysis; specific loan usage reviews, and finally an assessment of the economic viability of the business within the region. Through this two fold process of borrower selection, the FEDC will endorse only competent, quality community borrowers.

About Fairbanks Economic Development Corporation


Total loans: $42,000
Paying on time: Not enough data
Paying back late: Not enough data


All Loans for this Trustee