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Clearinghouse CDFI, The
23861 El Toro Road, Suite 401Lake Forest CA, 23861
CDFI Awards for Clearinghouse CDFI, The
NMTC (2009) - $100,000,000
Clearinghouse CDFI will use its NMTC Allocation to provide a combination of below-market interest rate lending and equity investments to provide financing for projects located in highly distressed communities. Clearinghouse CDFI will target commercial, industrial, and community facility projects that provide goods and services for low-income residents. In addition, Clearinghouse CDFI will finance real estate projects in conjunction with regional Neighborhood Stabilization Programs for rehabilitation of foreclosed homes, creating affordable for-sale housing.
NMTC (2008) - $90,000,000
: The Clearinghouse CDFI will use its NMTC allocation to finance new affordable for-sale housing, as well as commercial, industrial, and community facilities. This NMTC allocation will enable Clearinghouse CDFI to target critically underserved markets with significant poverty and unemployment levels throughout the State of California. Interest rates for NMTC loans will generally be 50 percent below what Clearinghouse CDFI offers through its core lending programs. In addition, NMTC borrowers will not typically be charged loan origination fees or points, resulting in significant cost savings. The rate and fee reductions will allow us to fund projects that would not debt service without the NMTC enhancement.
NMTC (2006) - $37,000,000
Clearinghouse CDFI will make direct loans for commercial, industrial, and community facility projects, as well as direct loans and equity investments in real estate projects that create new affordable for-sale family housing. The NMTC allocation will allow Clearinghouse CDFI the ability to offer borrowers below-market interest rate loans and greater flexibility in underwriting standards. Interest rates for NMTC loans will generally be 200-500 basis points below what Clearinghouse CDFI typically offers. This NMTC allocation will enable Clearinghouse CDFI to target critically underserved markets and expand its lending programs throughout the State of California.
NMTC (2005) - $75,000,000
The Clearinghouse CDFI will use its NMTC allocation to: 1) make direct loans to women, minority-owned and non-profit businesses; 2) make direct loans for commercial, industrial and community facility projects; and 3) make equity investments in real estate projects that create new affordable for-sale housing units. The NMTC allocation will allow Clearinghouse CDFI the ability to offer greater flexibility in underwriting standards and loans at up to 500 basis points below market rates. It will also allow them to offer a broader mix of investment products, including equity and debt with equity components, than would be possible without the NMTC allocation.
NMTC (2002) - $56,000,000
The Allocatee will make loans to qualified businesses in low-income communities. The organization believes the NMTC Program will allow it to expand its existing lending activities and increase its loan limit to fund larger projects that will have a more substantial economic impact in the low-income communities that it serves.
CORE (2002) - $1,500,000
The Fund"s $700,000 equity investment and $800,000 loan will allow Clearinghouse to expand its existing products and introduce this new product across its 5-county market.
CORE (1999) - $2,000,000
The CDFI Fund"s $2,000,000 award ($1,600,000 equity investment and $400,000 loan) will help the Clearinghouse CDFI expand its affordable housing loan pool.
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Northern California Community Loan Fund
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Opening Doors, Inc.
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Pacific Community Ventures Investment Partners II, LLC
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Pacoima Development Federal Credit Union
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Rural Community Assistance Corporation
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