The Episcopal Church Economic Justice Loan Committee (EJLC) has approved three investments in community development financial intermediaries, totaling $1.5 million.
ELJC approved $500,000 loans to each of the following organizations:
• The New Hampshire Community Loan Fund with the endorsement of the Diocese of New Hampshire. From the website: The New Hampshire Community Loan Fund collaborates with a wide range of donors and lenders, and with business, nonprofit and government partners. Together, we provide the financing and support that people with low and moderate incomes need to have affordable housing. Quality jobs. Child care and early education for their children. And to become financially independent.
• The Vermont Community Loan Fund with the endorsement of the Diocese of Vermont. From the website: The Vermont Community Loan Fund (VCLF) transforms Vermonters’ lives by providing loans, grants and technical assistance for affordable housing, small businesses, child care providers and other community facilities benefiting lower-income Vermonters.
• The Reinvestment Fund (which covers Philadelphia, PA, Baltimore, MD, and Jersey City NJ) with the endorsement of the Diocese of Pennsylvania. From the website: The Reinvestment Fund (TRF), a national leader in the financing of neighborhood revitalization, has invested $1.2 billion in Mid-Atlantic communities since 1985. A CDFI, TRF finances housing, community facilities, supermarkets, commercial real estate and energy efficiency projects. It also provides public policy expertise by helping clients create actionable solutions and by sharing data and analysis via www.PolicyMap.com