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Four Directions Development Corporation Frequently Asked Questions: |
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1.
What is the most important goal at Four Directions Development Corp. (FDDC)?
A. To promote homeownership and business
activity of Native American
tribes and tribal members in the State of Maine.
2. How and when does Four Directions' staff make contact with tribal members?
A. Four Directions' staff continually promote services through the Tribal
Councils, Housing Authorities,
and
Economic Development teams. Four Directions staff strive to visit each of the five communities
on a regular basis, work with non- profit and for-profit
agencies to promote development and education, and provide technical services and
business and financial tools to clients.
3. Where can I get information about Four Directions? A.
Information is readily available on this website, or by calling and
speaking
with staff at 207-866-6545. You can also request a brochure about FDDC loan
products, or communicate with the tribal
Housing and Economic
Development departments. 4.
Does Four Directions provide any grant monies? A. Four Directions primary program is to promote and encourage lending services for residential mortgages and business ownership. However, we currently provide a small business grant through the Trickle Up program. This grant maximum is $700 for low income business owners. Call Four Directions for more details. 5.
What must I do to apply for a loan with Four Directions?
A. Contact and meet with a Loan Officer from Four Directions to
discuss borrowing criteria, terms and rates, and what is needed to
complete an application. 6.
What types of residential loan services are provided by Four Directions? A. Residential mortgages, home equity and improvement loans, and land purchases that can be secured through adequate collateral requirements. Loans are available for on and off reservation properties. 7.
Does Four Directions provide down payment assistance to tribal members? A.
Four Directions does not
provide down payment assistance, but can refer you to potential
alternate services which may be of assistance to you. 8.
What types of business services are provided by Four Directions? A. Four Directions provides assistance to small business entrepreneurs by providing loans for working capital, inventory and equipment, commercial properties, and other business opportunities as requested. One on one technical assistance is also available to encourage business planning, financial understanding, and guidance for new or existing entrepreneurs. Please
Contact Us for with any other Questions! |