Bill Becker, Vice President – Western Market, California CRA Manager with Comerica Bank recently presented a check in the amount of $100,000 to Mary A. Rogier, President of NCCLF. This grant was awarded to NCCLF to make nonprofit agency loans in achieving our community development objectives in Northern California.
Our loans support four types of projects:
- Affordable Housing loans for all phases and types of housing – from multi-family rental to home ownership
- Community Facility loans to finance the construction or rehabilitation of essential human service facilities
- Economic Development loans to ventures that produce jobs and financial stability, including worker-owned cooperative businesses
- Operating Lines of Credit and Working Capital Loans uniquely designed to help nonprofits meet cash flow requirements
Since our inception, NCCLF has committed over $107 million to 312 community revitalization projects while maintaining a cumulative loan loss rate of less than 0.5%, and has provided technical assistance to hundreds of additional nonprofits. Our loans have leveraged over one billion dollars from private, public and philanthropic sources to create or preserve 6,285 affordable housing units for low-income families and individuals, and to finance over 1.7 million square feet of neighborhood-serving nonprofit and retail space. These loans have also helped create or retain 4,127 jobs.
Comerica has been a long time supporter of NCCLF and its community revitalization mission. Since 2002, Comerica Bank has been supporting the many lending programs and tools that we offer to nonprofit agencies who serve low-income communities throughout Northern California.
“We are proud to again be able to support the fine work of the Northern California Community Loan Fund through this major grant. We are always very proud of the work that NCCLF does in helping revitalize communities, and we are proud of our partnership,” said Becker.
Comerica is headquartered in Dallas, Texas, and is among the 25 largest banking companies. Comerica Bank has 115 banking centers in California and Arizona, with 448 banking centers worldwide.
