CCLF Awarded $1.25 Million From U.S. Treasury

COMMUNITY BLUEPRINT CCLF'S E-NEWSLETTER OF COMMUNITY DEVELOPMENT PROJECTS, ISSUES & FEATURES Special Announcement August/2014 U.S. Treasury Awards Chicago Community Loan Fund $1.25 Million Chicago Community Loan Fund (CCLF) was a recipient of a Community Development Financial Institutions (CDFI) Program grant in the amount of $1,250,000. The U.S. Treasury made the announcement yesterday in a press release explaining the goal of its $195.4 million investment in CDFIs across the country. "CDFIs and Native CDFIs are important community partners providing critically needed financing that not only allows families to buy their first home, or entrepreneurs to start or expand a business, but that generates economic growth and revitalizes America's low-income and economically-distressed communities," said Jessica Milano, Deputy Assistant Secretary for Small Business, Community Development, and Housing Policy at the U.S. Department of the Treasury. Photo by Steve Becker CCLF will use its award to focus on expanding its suburban foot print and its Neighborhood Investor Lending Program (NILP). NILP provides smaller scale for-profit and nonprofit developers with the support and capital needed to acquire, rehabilitate and own 1-4 unit buildings to help stabilize lower wealth communities impacted by the foreclosure crisis. The goal is for the developers to put these properties back on the market providing affordable rental housing for community residents living in low- to moderate-income neighborhoods. Read more The mission of the Chicago Community Loan Fund is to provide flexible, affordable and responsible financing and technical assistance for community stabilization and development efforts and initiatives that benefit low- to moderate-income neighborhoods, families and individuals throughout metropolitan Chicago. Connect with CCLF You can stay up to date on CCLF and other industry news and events by following @cclfchicago on Twitter. Quick Links Workshops Support Us Publications Lending Board and Staff Building for Sustainability Donate to CCLF We need your financial support to provide targeted technical and financial assistance that empowers community-based developers to help create communities where people thrive. You can support our work with a secure online donation via PayPal.

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