CNote Partnership Announcement: Chicago Community Loan Fund

By August 3, 2018 No Comments
CDFIs

CNote is excited to announce its partnership with The Chicago Community Loan Fund

The Chicago Community Loan Fund (CCLF) provides loans to socially responsible businesses and capital for real estate development projects that aim to build more safe and thriving communities in metropolitan Chicago. Since 1991, the CCLF has loaned over $180 million to build more than 9,000 affordable housing units and creating over 4,000 jobs.

Here are some examples of recent projects they’ve supported:

  • A $640,000 construction/mini-permanent loan to Sugar Beet Food Co-op in Chicago’s Oak Park community. Sugar Beet Food Co-op brings local, organic and sustainable products of all kinds, from produce to body care products, to the footsteps of those in the community. Its unique cooperative business model circulates money back into surrounding communities by purchasing local.
  • A $500,000 predevelopment loan to Englewood Square, LP for a new five-acre Whole Foods-anchored commercial retail development at 63rd and Halsted in Chicago’s Englewood neighborhood. The development will bring increased access to fresh and healthy foods, job opportunities for local residents, and create a “ripple effect” of investment in the area.

This short video highlights CCLF’s vision:

 

The CCLF’s mission is to be a flexible lender to turn to for projects and businesses that struggle to get financing. With an impressive board of social impact driven individuals, the CCLF is committed to stabilization and development efforts in Chicago–and CNote is excited to partner with them.

CCLF’s dedicated board members (photo credit: CCLF)

We look forward to our partnership with the Chicago Community Loan Fund. CNote strives to invest in organizations that have a positive impact on the community. With CNote investment dollars, we hope that the CCLF is better able to aid minorities and women-owned businesses as well as aiding low- and mid-income communities.

You can read the full press release here.

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