The CDF teaches economically disadvantaged individuals about the proper utilization of the tool called credit. We provide clients with quarterly 1:1 professional assistance in developing and maintaining a spending and debt reduction plans to bring them out debt in order to start business and purchase homes. The C D F's main goal is to eliminate poverty in urban cities.

Problema

Detroit has the highest unemployment rate per capita among the nation’s largest urban cities. Detroit’s median income is $26,157 well below the average of other cities its size. Detroit has a poverty rate of 26 percent, more than twice the state average. Detroit is loosing an estimated 13,000 residents per year and the estimated population for Detroit in 2003 was 911,000 residents. Detroit's population was less than 900,000 residents in 2005. The estimated population for Detroit in 2006 was 836,000 residents. One in every ten housing units in the city is vacant. The totality of these combined conditions has the regions economy at a stand still and there is a need to provide economic stabilization through out the entire region by enhancing entrepreneurship and home ownership opportunities.

Solución

Instead of reducing the number of houses in the Detroit, programs to increase affordable housing need to be created to stimulate population growth. The installation of affordable housing programs would increase the cities tax base helping to alleviate the City of Detroit’s budget crises. The more individuals the city has working and living within its borders, the more house holds the city has to collect an affordable portion of taxes from. Reviving an entrepreneurial spirit is one of the keys to rejuvenating our work force, providing a stable income to our residents, spurring economic growth in urban cities. When people are generating a decent income to spend they will spend it. Detroit has an abundance of empty abandoned dilapidated homes, storefronts and commercial buildings. All of these unused assets could be put to use to generate cash flow and the jobs needed to cut the cities unemployment rate and bring the city out of a deficit situation.

Ejemplo

The Childrey Deliverance Foundation 501c3 Tax Exempt Education Corporation formed eight years ago in memory of (Johnny C. Childrey), my grandfather, to provide financial literacy and credit repair services to youth deemed at-risk, low-income adults and emerging entrepreneurs. Our mission is to mentor/counsel economically disadvantaged individuals in our urban communities on the importance of personal economics (credit). We provide effective advocacy and compile/disseminate information useful to empowerment and self-sufficiency. Once a client has completed our vigorous rigors they will be able to build an excellent credit score and become eligible to receive a Business Loan or Mortgage to start a business or purchase a home of their own. The (C D F) will be implementing our credit counseling services to the fullest extent. Credit is a tool to be used properly. The key goal is not to destroy your credit from the beginning of starting your credit history. If a client happens to have been irresponsible with their credit, The (C D F) can help our clients reestablish their credit history through our Urban Economic Empowerment Program to initiate debt reduction and savings development plans to achieve the major life-enhancing goals of Business and Home Ownership. At the (C D F), we’ve learned that it’s only by Reinvesting into Ravished Communities and providing answers to failed socio-economic conditions in urban communities can we change communities in economic turmoil.

Mercado

U-Snap-Bac is a non profit organization on the East Side of Detroit. They have a specific are on the east side that they have been working on for many years. The Warren Connor Housing Association is also working on a specific area on the east side. Our mission is to mentor/counsel economically disadvantaged individuals in our community on the importance of personal economics (credit)to enable them to become self-sufficient. There are little to no challenges from competition because Detroit is a large urban city with a need for as many variations of solutions to solve its problems of blight, decay, erosion, housing dilapidation, lack of viable business, and extreme poverty.