Community Development Financial Institutions (CDFIs)

Chicago Community Loan Fund (CCLF) provides low-cost, flexible financing to nonprofit community development organizations for affordable housing, commercial development, and nonprofit facility initiatives.  Since 1991, CCLF has grown from an initial investment of $200,000 to over $70 million in total capital under management.  To date, it is credited with closing more than $150 million in community development financing, which has or will leverage an additional $1.1 billion in public and private sector financing for Chicago-based development projects.

Established in 1979 as a non-profit cooperative financial institution, the Buffalo Cooperative Federal Credit union is owned and operated for the benefit of the members who use its services. Providing low-cost financial services and loans to its members, BCFCU keeps money working within the community. Read more about Buffalo Cooperative Federal Credit Union...

Based in Boston, the Community Economic Development Assistance Corporation (CEDAC) is a quasi-public community development finance institution that provides financial resources and technical assistance to Massachusetts nonprofit community development organizations in support of affordable housing, workforce development, childcare, and education.  In 2016, it provided over $15 million in predevelopment, acquisition, and bridge lending to area nonprofits.  Since its establishment in 1978, CEDAC’s work is credited with stimulating the production or preservation of 45,000 housing units and producing more than 16,240 units of supportive housing.

Based in Boston, the Housing Partnership Network is a business alliance of the nation’s top performing nonprofit development organizations, allowing them to share the innovations from each organization’s local practices and leverage their resources more efficiently. One of its enterprises - the Housing Partnership Fund - is a CDFI-certified lending institution that has provided over $88.5 million in capital to 52 Network members.  Another enterprise, the Housing Partnership Insurance, is the first captive insurance company owned by and operated for nonprofit affordable housing organizations. The company insures more than 75,000 units valued at over $10.5 billion, and, since 2008, has returned $10.2 million in dividends to its owner-members.

Founded in 1994, PeopleFund provides loans to small businesses and nonprofits, and a range of business assistance services including one-to-one mentorship and educational workshops.  As of 2013, it had lent over $37 million to more than 445 small business owners and nonprofits, creating over 3,000 new jobs.  Nearly two-thirds of the businesses it supports are minority owned.