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Community Loan Fund of New Jersey, Inc.
16-18 West Lafayette StreetTrenton NJ, 08608-2088
Incorporated in 1987, the Community Loan Fund of New Jersey (CLFNJ) provides loan products and development services to low-income targeted populations in the state of New Jersey.
CDFI Awards for Community Loan Fund of New Jersey, Inc.
FA (2009) - $2,000,000
Community Loan Fund of New Jersey, Inc. is a non-profit loan fund in operation since 1987. It is a certified CDFI serving low-income populations in New Jersey. Urban communities of particular focus are Newark, East Orange, Camden, Paterson, and Union City due to their high level of poverty and distress. Applicant operates several funds to invest in housing, community facilities and commercial real estate in its target market area.
NMTC (2008) - $35,000,000
Community Loan Fund of New Jersey, Inc. (CLFNJ) is a nonprofit CDFI that provides loans and investments in the housing, community facilities, commercial real estate, and business sectors. CLFNJ will use NMTC allocation to provide flexible rates and terms to community facilities projects, including early education centers and charter schools, in low-income communities throughout the state of New Jersey. The terms and conditions of the NMTC debt and equity products will be far less costly and vastly more flexible than those presently offered by the conventional marketplace, and less costly and more flexible than those presently offered by CLFNJ.
FA (2008) - $1,000,000
Community Loan Fund of New Jersey, Inc. (CLFNJ) is a certified CDFI, non-profit loan fund established in 1987. CLFNJ provides loans and investments in the business, housing, and community services industries throughout the state of New Jersey. CLFNJ will use the FY08 Financial Assistance award of $1,000,000 as financing capital for its lending products directed primarily toward charter schools and early education centers.
FA (2004) - $1,000,000
The Community Loan Fund of New Jersey (CLFNJ) CLFNJ will use the award to provide short-term loans and development services to non-profits for the purpose of affordable single- and multi-family housing development in Hot Zones. CLFNJ expects to create community development impacts of 750 multi-family housing units developed or rehabilitated, and 375 single-family housing units developed or rehabilitated.
NMTC (2002) - $15,000,000
The Allocatee will utilize its NMTC allocation to provide investment capital in the form of senior and subordinate debt, debt with equity-like features, and/or equity, and provide technical assistance for businesses or commercial real estate projects companies involved in the revitalization of New Jersey"s low-income communities. The Allocatee believes the NMTC Program will allow it to increase the volume of its activities, expand the types of products it will offer, and target its resources to the most economically distressed low-income communities.
CORE (2000) - $3,030,000
The CDFI Fund"s $3,030,000 award ($3,000,000 capital grant and $30,000 technical assistance grant) will help the Loan Fund carry out its comprehensive business plan, including increasing its lending to nonprofit child care providers.
CORE (1997) - $1,230,000
CDFI Fund assistance will include a $800,000 grant, $400,000 loan and $30,000 for technical assistance.
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