Permanent Capital Grant Will Support Housing Preservation & Stabilization
Chase:
WHAT: A $2 million permanent capital grant for the Chicago Community Loan Fund (CCLF) from Chase, as a part of the firm's strategy to boost the capacity of Community Development Financial Institutions (CDFIs).
WHY: CCLF's work supports preservation and stabilization in Chicagoland neighborhoods that have been adversely affected in the foreclosure crisis.
WHERE: CCLF's 20th Anniversary Celebration at Chase Tower Chicago, 57th Floor, 21 S. Clark Street, Chicago, IL.
WHEN: November 3rd, 5:30 - 8:30pm
HOW: Permanent capital grants are leveraged by CCLF to attract other investors, often at a 1:3 ratio, which gives them a larger pool of capital to lend out to borrowers who are preserving housing, mitigating the foreclosure crisis, and building innovative economic development projects throughout the Chicagoland region.
WHO: CCLF is a nonprofit certified community development financial institution that provides low-cost, flexible financing and hands-on technical assistance to community developers for:
- Affordable Housing
- Commercial/Retail Development
- Community Facility Space
- Social Enterprise
CCLF supports challenging projects that will help revitalize low- and moderate-income neighborhoods and suburban communities throughout metropolitan Chicago, aiding families and communities along the path toward economic stability, prosperity and sustainability.
Contacts:
CCLF Chicago
Media Contact:
Emily Moen, 312-252-0440 x202
emoen@cclfchicago.org