Statement from CDFI Fund Director Gambrell on 51 Certified CDFIs Receiving Over $104 Million in Small Business Lending Fund Awards
Washington, DC - U.S. Department of the Treasury today announced the seventh and final wave of funding provided through the Small Business Lending Fund. This includes 51 certified Community Development Financial Institutions (CDFIs) that received an aggregated total of $104,279,000. Treasury released the term sheet and other application materials needed by Community Development Loan Funds to access this lower-cost capital on May 26, 2011.
Community Development Financial Institutions Fund Director Donna J. Gambrell issued the following statement:
"The Small Business Lending Fund was created to spur investments in small businesses, a priority of CDFIs across the country. I am proud of the strong performance of certified CDFI Loan Funds under this program, which demonstrates that the basic tenets of operation that CDFIs employ every day - focusing investments in job creation opportunities, encouraging the growth of small businesses, and targeting economic growth where it is most needed - are key to this nation's economic recovery."
| Institution Name | State | Amount Funded |
|---|---|---|
| Appalachian Community Enterprises, Inc. | GA | $188,000 |
| Boston Community Loan Fund | MA | $4,410,000 |
| Bridgeway Capital, Inc. | PA | $1,820,000 |
| Building Hope...A Charter School Facilities Fund | DC | $2,091,000 |
| California Coastal Rural Development Corporation | CA | $870,000 |
| Capital Link Inc. | MA | $198,000 |
| CEN-TEX Certified Development Corporation | TX | $489,000 |
| Charleston Citywide Local Development Corporation | SC | $1,000,000 |
| Citizen Potawatomi Community Development Corporation | OK | $490,000 |
| Coastal Enterprises, Inc. | ME | $2,316,000 |
| Colorado Enterprise Fund, Inc. | CO | $463,000 |
| Community First Fund | PA | $862,000 |
| Community Loan Fund of the Capital Region, Inc. | NY | $478,000 |
| Community Reinvestment Fund, Inc. | MN | $5,100,000 |
| Community Ventures Corporation | KY | $1,045,000 |
| ECDC Enterprise Development Group | VA | $320,000 |
| Economic and Community Development Institute, Inc. | OH | $203,000 |
| Enterprise Community Loan Fund | MD | $8,817,000 |
| Federation of Appalachian Housing Enterprises, Inc. | KY | $2,063,000 |
| Forward Community Investments, Inc. | WI | $470,000 |
| Greater New Haven Community Loan Fund, Inc. | CT | $525,000 |
| IFF | IL | $8,294,000 |
| Impact Seven, Inc. | WI | $4,000,000 |
| La Fuerza Unida Community Development Corporation | NY | $42,000 |
| Leviticus 25:23 Alternative Fund, Inc. | NY | $750,000 |
| Low Income Investment Fund | CA | $7,490,000 |
| Lowcountry Housing Trust | SC | $392,000 |
| Midwest Minnesota Community Development Corporation | MN | $4,600,000 |
| Montana Community Development Corporation | MT | $585,000 |
| Mountain BizCapital | NC | $197,000 |
| NCB Capital Impact | VA | $8,218,000 |
| Nebraska Enterprise Fund | NE | $197,000 |
| Nonprofits Assistance Fund | MN | $686,000 |
| Northeast South Dakota Economic Corporation | SD | $1,000,000 |
| Northside Community Development Fund | PA | $250,000 |
| OBDC Small Business Finance | CA | $219,000 |
| Opportunity Fund Northern California | CA | $2,236,000 |
| Partners for the Common Good, Inc. | DC | $1,009,000 |
| PeopleFund | TX | $500,000 |
| Primary Care Development Corporation | NY | $4,000,000 |
| Rural Community Assistance Corporation | CA | $4,300,000 |
| Rural Electric Economic Development, Inc. | SD | $1,230,000 |
| Seedco Financial Services | NY | $2,500,000 |
| ShoreBank Enterprise Group, Pacific dba Enterprise Cascadia | WA | $1,867,000 |
| South Eastern Development Foundation | SD | $240,000 |
| The Progress Fund | PA | $1,052,000 |
| The Reinvestment Fund, Inc. | PA | $11,708,000 |
| Valley Economic Development Center, Inc. | CA | $661,000 |
| Vermont Community Loan Fund, Inc. | VT | $1,247,000 |
| Western Massachusetts Enterprise Fund, Inc | MA | $200,000 |
| Wisconsin Women's Business Initiative Corporation | WI | $391,000 |
| Total | 51 | $104,279,000 |
Click here for more information on today'ocusings announcement by Treasury.
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