The mission of the Chicago Community Loan Fund (CCLF) is to provide flexible, affordable, and responsible financing and technical assistance for community stabilization and development efforts and initiatives that benefit low- to moderate-income neighborhoods, families, and individuals throughout metropolitan Chicago.
CCLF was founded in 1991 by a group of visionary social-investment advocates. Their aim was to create a flexible nonprofit lender that would fill the community development credit gaps as they emerged across the city and region. In particular, CCLF was created to ensure that Chicago community development organizations (including small and emerging groups) would have a lender to turn to for harder-to-underwrite projects and enterprises.
By financing harder-to-underwrite community development projects, CCLF opens the door for visionary people and organizations to create jobs, expand housing production, and reshape communities so all of Chicagoland's neighborhoods can thrive.
As a flexible and diverse CDFI (Community Development Financial Institution), CCLF completed 34 promising developments in 2017 across four sectors - housing, commercial real estate, community facilities, and social enterprises. As of 3rd quarter 2018, CCLF has closed 461 loans totaling over $193 million in financing to over 200 unique customers. These loans will:
- Create or retain more than 9,422 housing units, over 4,900 jobs, and over 3.4 million square feet of commercial real estate and nonprofit facility space.
- Leverage more than $1.3 billion in additional public and private sector capital for community projects.
We will continue to adapt our products and services to support our communities' visionaries and unlock the Chicagoland region's immense potential so it may provide opportunity for everyone.