Chicago Community Loan Fund

MetLife Foundation Announces Recipients of Its $10 Million Fund Aimed at Addressing the Income and Wealth Divide

Retrieved on: 
Tuesday, December 5, 2023

MetLife Foundation today announced the 24 non-profit recipients of its two-year, $10 million Accelerating Commitment to Equity Innovation Fund (ACE Innovation Fund).

Key Points: 
  • MetLife Foundation today announced the 24 non-profit recipients of its two-year, $10 million Accelerating Commitment to Equity Innovation Fund (ACE Innovation Fund).
  • The fund aims to democratize access to capital for non-profit organizations addressing income and wealth inequality in communities that have been historically and systemically disinvested.
  • Each non-profit recipient was awarded a $250,000 grant to implement or accelerate their proposal.
  • For more information on MetLife Foundation and the ACE Innovation Fund, visit www.MetLife.org .

FHLBank Chicago Increases Support for Diverse Developer Initiative to Create Learning Opportunities for 10 Grant Recipient Organizations in Illinois and Wisconsin

Retrieved on: 
Monday, October 2, 2023

To grow the diverse developer talent pipeline in Illinois and Wisconsin, the Federal Home Loan Bank of Chicago (FHLBank Chicago) doubled its annual support to $2 million in the second year of its Community First® Diverse Developer Initiative (Diverse Developer Initiative), bringing the total three-year commitment to $4 million.

Key Points: 
  • To grow the diverse developer talent pipeline in Illinois and Wisconsin, the Federal Home Loan Bank of Chicago (FHLBank Chicago) doubled its annual support to $2 million in the second year of its Community First® Diverse Developer Initiative (Diverse Developer Initiative), bringing the total three-year commitment to $4 million.
  • View the full release here: https://www.businesswire.com/news/home/20231002486224/en/
    Through the Chicago Community Loan Fund, DL3 Realty Advisors was awarded an FHLBank Chicago 2022 Community First® Diverse Developer Initiative grant.
  • At DL3, grant recipient Yasamin Enshaeian brings not only her personal identity and perspective but also her architecture and affordable housing background.
  • The program’s creation was driven by FHLBank Chicago’s Community Investment Advisory Council, a group of industry leaders in Illinois and Wisconsin that informs FHLBank Chicago’s strategy for affordable housing and community lending.

S&P GLOBAL UPGRADES BLUEHUB'S RATING TO 'A+'

Retrieved on: 
Thursday, September 14, 2023

BOSTON, Sept. 14, 2023 /PRNewswire/ -- BlueHub Capital, a national nonprofit community development finance organization, today announces that S&P Global Ratings has upgraded its affiliate BlueHub Loan Fund's financial outlook from 'A' to 'A+', citing increased equity and above-average profitability.

Key Points: 
  • It provides financing to affordable housing projects, community health centers, schools and other community assets across the United States.
  • S&P raised both BlueHub Loan Fund's long-term issuer credit rating and series 2020 Sustainability Bond rating to 'A+' with a stable outlook.
  • This upgraded rating reflects BlueHub's long term financial strength and commitment to our mission," said Elyse Cherry, CEO of BlueHub Capital.
  • "This upgraded rating will help deliver more much-needed capital to low-income communities and communities of color."

Media Advisory: Renaissance Community Loan Fund and FHLB Dallas to Award $160K to Businesses Impacted by Recent Severe Weather

Retrieved on: 
Friday, August 25, 2023

Renaissance Community Loan Fund (RCLF) and the Federal Home Loan Bank of Dallas (FHLB Dallas) will award $160,000 from the Small Business Recovery Grant Program in a ceremonial check presentation to eight businesses in Amory, Mississippi that sustained damage in March when tornadoes swept through the city.

Key Points: 
  • Renaissance Community Loan Fund (RCLF) and the Federal Home Loan Bank of Dallas (FHLB Dallas) will award $160,000 from the Small Business Recovery Grant Program in a ceremonial check presentation to eight businesses in Amory, Mississippi that sustained damage in March when tornadoes swept through the city.
  • Small Business Recovery Grants are offered by FHLB Dallas through member financial institutions such as RCLF to provide financing for qualified small businesses affected by the severe storms and tornadoes in Arkansas and Mississippi in March 2023.
  • FHLB Dallas allocated $2.5 million, with grants up to $20,000 per eligible business to support at least 125 small businesses in Arkansas and Mississippi.
  • The following businesses will each be awarded a $20,000 grant on Monday:

BlueHub Capital Names Karen Kelleher Next President of BlueHub Loan Fund

Retrieved on: 
Tuesday, July 18, 2023

BOSTON, July 18, 2023 /PRNewswire/ -- BlueHub Capital, a national nonprofit community development financing organization, announced Tuesday the hiring of Karen Kelleher as the new President of BlueHub Loan Fund.

Key Points: 
  • Kelleher to Lead Community Development Financing Business Line, Centering a Commitment
    BOSTON, July 18, 2023 /PRNewswire/ -- BlueHub Capital , a national nonprofit community development financing organization, announced Tuesday the hiring of Karen Kelleher as the new President of BlueHub Loan Fund.
  • As head of BlueHub Loan Fund, a community development financial institution (CDFI), Kelleher will be responsible for managing a team of 12 and overseeing new business development, loan originations, credit quality, portfolio management, measuring and communicating impact, financial self-sufficiency, innovative loan products and programs, partnerships and capitalization.
  • Kelleher comes to BlueHub from LISC Boston, a peer CDFI that has worked extensively with BlueHub Loan Fund.
  • A substantial majority of projects funded by BlueHub Loan Fund have been led by people of color and/or women, and almost all of BlueHub Loan Fund's lending is in low-income communities.

Aeris Announces 45 New CDFI Ratings and 2 New Subscribers

Retrieved on: 
Monday, December 19, 2022

PHILADELPHIA, Dec. 19, 2022 /PRNewswire-PRWeb/ -- Aeris®, the leading expert in the financial and impact performance of CDFIs and other private impact loan funds, announced today that it has issued new annual ratings on 45 CDFIs in the past nine months. Two of these—Community First Fund and PIDC Community Capital—received new, standalone Aeris® Impact Management Rating Reports, which assess and report how a CDFI measures and manages impact.

Key Points: 
  • Two of these—Community First Fund and PIDC Community Capital—received new, standalone Aeris® Impact Management Rating Reports, which assess and report how a CDFI measures and manages impact.
  • Also today, Aeris announced two new subscribers to its information products: TD Bank and Tiedemann Advisors.
  • In addition to the in-depth analyses found in Aeris Rating Reports, Aeris subscribers utilize Aeris® Performance Maps and Aeris® Explorer, which track quarterly financial performance of rated and reporting CDFIs.
  • Since 2004, Aeris® Ratings, analyses, and data have grown to cover more than 150 CDFIs managing more than $19 billion in loan capital.

Bank of America Commits $13 Million to Chicago-Area Nonprofits Working to Improve Economic Opportunity and Advance Racial Equity

Retrieved on: 
Wednesday, December 14, 2022

CHICAGO, Dec. 14, 2022 /PRNewswire/ -- Bank of America today announced it has committed $13 million in funding to more than 100 Chicago-area nonprofit organizations working to drive economic opportunity for individuals and families in underserved Chicagoland communities.

Key Points: 
  • "It is both inspiring and humbling to see the impact these organizations have had in our communities this year," said Rita Sola Cook, president of Bank of America Chicago.
  • "We are profoundly grateful for our nonprofit partners who help bring to life Bank of America's vision for a stronger, more equitable Chicago.
  • Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services.
  • For more Bank of America news, including dividend announcements and other important information, register for email news alerts.

Bank of America Names Neighborhood Builders Racial Equality Awardees who are Advancing Opportunities for Minority Communities

Retrieved on: 
Tuesday, October 18, 2022

CHARLOTTE, N.C., Oct. 18, 2022 /PRNewswire/ -- Bank of America today announced the second group of honorees of its Neighborhood Builders: Racial Equality Award, which recognizes the impactful work of leaders who strive to advance racial equality and economic opportunity in Black, Hispanic-Latino, Asian American, and Native American communities. The five individuals were selected for their extraordinary contributions to breaking racial barriers and creating opportunities for people of color across the country.

Key Points: 
  • The five individuals were selected for their extraordinary contributions to breaking racial barriers and creating opportunities for people of color across the country.
  • The Racial Equality Award established in March of this year is an extension of Bank of America's signature philanthropic program, Neighborhood Builders.
  • "At Bank of America, supporting nonprofits and their leaders has been core to our commitment to advancing racial equality and economic opportunity," said Ebony Thomas, President of the Bank of America Charitable Foundation.
  • Nearly 18 years after its launch, Neighborhood Builders is one of the nation's largest philanthropic investments in nonprofit leadership development.

LCFC Launches Endowment Campaign to Establish Legacy for Future Coloradan Latinos

Retrieved on: 
Friday, October 14, 2022

DENVER, Oct. 14, 2022 /PRNewswire/ -- The Latino Community Foundation of Colorado is pleased to announce the launch of an ambitious $20 million endowment campaign that will ensure investment in Latino communities and nonprofits continue indefinitely.

Key Points: 
  • One Legacycampaign was publicly announced Thursday, Oct. 13 at LCFC's 15th anniversary gala hosted at the Denver Art Museum.
  • The campaign, which will raise funds over three years, will focus on building strength in several key areas:
    A $10 million unrestricted Legacy Fund to advance community transformational work.
  • One Legacy campaign please visit www.latinocfc.org/legacy
    About Latino Community Foundation of Colorado:
    The Latino Community Foundation of Colorado (LCFC) is a state-based philanthropic foundationled by Latinos and for Latinos.
  • We pursue civic, economic, and cultural opportunities that drive a more authentic narrative about Latinos in the state and cement a healthy and vibrant future where all Latino Coloradans will prosper.

Eastern Bank Foundation Honors The New Hampshire Community Loan Fund With Community Advocacy Award

Retrieved on: 
Thursday, June 2, 2022

Eastern Bank Foundation is pleased to announce the New Hampshire Community Loan Fund (the Community Loan Fund) as a 2022 Community Advocacy Award honoree for its pioneering efforts in providing loans, capital, training and technical assistance that assist businesses and people across New Hampshire with achieving economic stability.

Key Points: 
  • Eastern Bank Foundation is pleased to announce the New Hampshire Community Loan Fund (the Community Loan Fund) as a 2022 Community Advocacy Award honoree for its pioneering efforts in providing loans, capital, training and technical assistance that assist businesses and people across New Hampshire with achieving economic stability.
  • Steve Saltzman, President and CEO of the New Hampshire Community Loan Fund said, The New Hampshire Community Loan Fund aims to transform lives by bringing economic justice to people, neighborhoods and communities that have been historically disenfranchised.
  • Zachery Palmer, Community Business Lender at the New Hampshire Community Loan Fund added, Closing the wealth gap and solving disparities takes a multi-faceted, evolving approach.
  • Read more about all of the 2022 Community Advocacy Award honorees at: https://www.easternbank.com/communityadvocacyawards
    Created in 1994, the Eastern Bank Foundation is the philanthropic arm of Boston-based Eastern Bank.