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| Ranking |
Effective Practice |
| Description |
The Chicago Community Loan Fund (CCLF) provides capital to nonprofits for affordable housing, economic development, and social service organizations in low- and moderate-income communities throughout the greater Chicago area. Through its loan program, CCLF often provides the gap financing necessary to acquire additional capital for community development projects. CCLF loan products may be used for a variety of community development capital needs, including:
-Acquiring, constructing, or rehabilitating affordable housing units;
-Acquiring or rehabilitating community facilities and commercial real estate; and
- Working capital for social enterprises and worker owned cooperatives. |
| Goal / Mission |
CCLF's vision is to work creatively with their clients to help them rejuvenate neighborhoods and improve the lives of low-wealth individuals and families who live in those communities. |
| Results / Accomplishments |
Since its inception in 1991, CCLF has made 133 loans worth more than $24.4 million to community development initiatives. This money has leveraged nearly $475 million in additional capital from the public and private sectors, helping to create or retain 3,000 affordable housing units and nearly 1,000 jobs. |
| Categories |
Economy / Housing Affordability & Supply
Economy / Economic Climate
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| Organization(s) |
Chicago Community Loan Fund |
| Source |
Finance Project |
| Date of Implementation |
1991 |
| Location |
City: Chicago, IL |
| Primary Contact |
Calvin L. Holmes, Executive Director
Chicago Community Loan Fund
29 East Madison Street, Suite 1700
Chicago, IL 60602
(312) 252-0440 x 230
cholmes@cclfchicago.org
http://www.cclfchicago.org/
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| For more details |
http://www.financeproject.org/promising_results...
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