INDUSTRIAL BANK COMMUNITY DEVELOPMENT ENTITY ADVISORY BOARD
industrial bank community development entity advisory board
Rosalind Styles, President of NAMC-WMAC serves on the Industrial Bank Community Development Entity (CDE) Advisory Board. The US Department of the Treasury, through Community Development Financial Institutions (CDFIs) to provide capital and credit in areas that are often difficult for traditional financial institutions and ensure that underserved communities have access to quality, affordable, and credible financial services. Industrial Bank, a CDFI, awarded CDFI Funds through New Markets Tax Credit to bolster job creation, neighborhood revitalization and minority entrepreneurship investment throughout the DMV.
Industrial Bank’s $45MM award targeted projects in the DC Metro Area for:
- Quality Job Creation
- Minority Entrepreneurship
- Neighborhood Revitalization
- Affordable Healthcare
Industrial Bank has closed $18MM by the end of 2023, leaving $27 MM left to fund new deals.
The National Association of Minority Contractors—Washington, DC Metropolitan Area Chapter (NAMC-WMAC) was formed in February 2005. A non-profit 501©(6) tax-exempt membership organization governed by a Board of Directors; the President manages its day-to-day operation. NAMC-WMAC’s service area encompasses Washington, DC, Prince Georges and Montgomery Counties in Maryland and Northern Virginia. NAMC-WMAC has as its focus “A Commitment to Diversity.”