by Oscar Perry Abello
“The Chicago Community Loan Fund (CCLF) started out 25 years ago, with a $200,000 seed investment. Today, the community development financial institution’s assets are $67 million. Much of that expansion happened in the last decade, as CCLF quadrupled its assets and quadrupled its annual loan volume. Yes, since 2006, through the financial crisis and recession, a tiny not-for-profit loan fund quadrupled its assets and lending. In 2015, CCLF supported the preservation or development of 123,582 square feet of commercial and community space in the Chicago area, much of it in neighborhoods that typically get headlines for gun violence, like Grand Boulevard.
Many factors are driving the growth, but one in particular is noteworthy: 2006 is the first year that Aeris rated CCLF.”
Read the full article at NextCity.org.