Community Loan Fund receives $1.5-million CDFI Fund award
The New Hampshire Community Loan Fund will receive $1.5 million from the Community Development Financial Institutions (CDFI) Fund of the U.S. Department of the Treasury to provide loans and education for low-income people and communities in New Hampshire.
The CDFI Fund award, announced recently by Treasury Dept. officials, is part of a record $142 million being distributed to 155 CDFIs that serve economically distressed communities across the nation.
“It has been a difficult last few years for the homeowners, small businesses, child care centers and nonprofits we serve, and this grant strengthens our ability to help them be resilient,” said Community Loan Fund President Juliana Eades.
“The CDFI Fund plays a key role in spreading economic opportunity,” Eades said. “It’s a wise use of government dollars, because it helps attract additional private investment and its grants flow into New Hampshire’s communities in ways that help low- and moderate-income people, while it also helps the state and national economies.”
It is the 11th award the Community Loan Fund has received from the CDFI Fund. The awardees were selected after a competitive review of 393 applications received by the CDFI Fund from organizations across the nation that requested, in total, nearly $466 million in funding under the FY 2011 round of the CDFI Program.
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About the New Hampshire Community Loan Fund
The Community Loan Fund turns investments into loans and education to create opportunity and transform lives across New Hampshire. It collaborates with a wide range of donors and lenders, and with business, nonprofit and government partners, to provide the financing and support people need to have affordable homes, have quality jobs and child care, and become financially independent. Established in 1983, the Community Loan Fund was one of the first Community Development Financial Institutions in the nation, and has received industry awards and recognition for social impact, financial strength and performance. For more information, visit www.communityloanfund.org or call (800) 432-4110.
About the Community Development Financial Institutions Program (CDFI Program)
Through the CDFI Program, the CDFI Fund invests in and builds the capacity of existing private, for-profit and non-profit community-based lending organizations known as Community Development Financial Institutions (CDFIs) that serve rural and urban low-income people and communities across the nation that lack adequate access to affordable financial products and services. The CDFI Fund receives applications on an annual basis and awards funds through a competitive process. With the announcement of these awards, the CDFI Fund has awarded just over $1 billion through the CDFI Program since the CDFI Fund was created in 1994. For more information on the CDFI Program, please visit www.cdfifund.gov.
