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Opportunity Fund Northern California
San Jose CACDFI Awards for Opportunity Fund Northern California
NMTC (2009) - $30,000,000
Opportunity Fund Northern California (Opportunity Fund) provides financial products and services exclusively to low-income communities and low-income persons in the San Francisco Bay area. Opportunity Fund will use its NMTC allocation to support the construction of high-impact community facilities projects with a focus on those that host organizations delivering educational and health related services. Opportunity Fund will offer the A/B Note structure that will result in some capital being converted into permanent equity at the end of the compliance period. Other flexible features will include interest-only payment terms, higher loan-to-value ratios and longer loan terms.
FA (2009) - $2,000,000
The Opportunity Fund is a certified CDFI established in 1993. The Opportunity Fund is a loan fund that provides loans, individual development accounts, and development services to families, small business owners, affordable housing developers and others within the Low Income Targeted Population in the San Francisco Bay Area. The Opportunity Fund will use the 2009 Financial Assistance award as loan capital for its Affordable Housing Loan Program and the Small Business Loan Program.
NMTC (2008) - $35,000,000
The Opportunity Fund, formerly known as Lenders for Community Development, will use its NMTC Allocation to support the construction of high-impact community facility projects in the San Francisco Bay Area. Community facilities which house non-profits providing medical, educational, social, arts, recreational or other similar social services are the cornerstones of development in low-income communities. The NMTC allocation will enable the Opportunity Fund to offer larger and considerably more favorable products to borrowers than are available in the market, or through its current product array of non-NMTC financing. Its primary product offering will be a loan that converts to project equity after the 7-year tax credit compliance period.
FA (2007) - $960,000
Created in 1993, Lenders for Community Development is a certified CDFI. It provides affordable housing and community facilities loans, small business loans, and development services in the San Francisco Bay Area. The CDFI will use its FY07 FA award as loan capital to expand its small business loan program and its TA award to build its lending capacity.
FA (2006) - $585,000
Lenders for Community Development (LCD) is a certified CDFI established in 1993. LCD provides affordable housing and community facilities loans, small business loans, development services, individual development accounts, and financial management training to low-income communities of the San Francisco Bay area. LCD will use the 2006 Financial Assistance Award of $585,000 to expand its products and services to San Franciso and Alameda Counties and increase the volume of its small business loan products and services in its 4 county target market.
NMTC (2005) - $25,000,000
With its NMTC allocation, Lenders for Community Development (LCD) will provide interest-only, below-market rate loans to support anchor projects with significant development impact located in high-distress communities. The NMTC allocation will also allow LCD to significantly expand the volume of its loans and the scope of its lending products.
NMTC (2002) - $25,000,000
Lenders will use its NMTC allocation to provide financing for small businesses and for real estate projects related to retail, mixed use, manufacturing, distribution, office, and for-profit and non-profit community facilities (e.g., daycare centers, youth centers, medical facilities, charter schools). With the NMTC allocation, LCD believes it will have the ability to offer loans with longer than conventional amortizations, longer maturities, higher than conventional loan-to-value ratios, and in many cases lower interest rates.
SECA (2000) - $47,500
Lenders for Community Development will utilize the technical assistance award to obtain staff training in business credit analysis, individual development accounts and communications; computer hardware and software; and consulting services related to strategic planning, marketing, loan underwriting and risk-rating, and database management.
CORE (2000) - $1,000,000
The CDFI Fund"s $1,000,000 capital grant will help leverage outside funds and will help LCD meet the growing need for affordable housing and small businesses financing in its target market.
SECA (1999) - $42,180
The technical assistance grant will strengthen some of LCDs internal technological and managerial systems help LCD determine the feasibility of developing a new child care loan product and enable LCD to develop more targeted marketing material.
CORE (1999) - $1,175,000
The CDFI Fund"s $1,175,000 award ($400,000 capital grant, $525,000 equity investment, and $250,000 loan) will be used to fund a small business lending loan loss reserve and help fund new programs.
Other Community Development Financial Institutions in California
ACCION San Diego
San Diego
Banco BuenaVentura
Oxnard
Bethany Square, LLC
Santa Monica
BEYOND THE BOTTOM LINE, LLC
San Fernando
Big Pine Paiute Tribe
Big Pine
Chevron NMTC Fund, LLC
San Franscisco
Clearinghouse CDFI, The
Lake Forest
Comunidades Federal Credit Union
Los Angeles
CT/KDF Community Development Partners, LLC
Newport Beach
El Futuro Credit Union
Porterville
Episcopal Community Federal Credit Union
Los Angeles
Faith Based Federal Credit Union
Oceanside
Genesis LA CDE, LLC
Los Angeles
Housing Trust Fund of Santa Barbara County
Santa Barbara
Impact Community Capital CDE, LLC
San Francisco
Karuk Community Loan Fund, Inc.
Happy Camp
KHC New Markets CDE, LLC
Carlsbad
LA Charter School New Markets CDE
Los Angeles
Los Angeles Development Fund
Los Angeles
Los Angeles LDC, Inc.
Los Angeles
Low Income Investment Fund
San Francisco
Lowe Economic Development Company, LLC
Los Angeles
Mission Area Federal Credit Union
San Francisco
Mission Community Bancorp
San Luis Obispo
Mission Community Bank, N.A.
San Luis Obispo
National New Markets Fund, LLC
Los Angeles
Neighborhood Bancorp
National City
New Markets Community Capital, LLC
Los Angeles
NHS Neighborhood Lending Services
Los Angeles
Northeast Community Federal Credit Union
San Francisco
Northern California Community Loan Fund
San Francisco
OneCalifornia Bancorp, Inc.
San Francisco
Opening Doors, Inc.
Sacramento
Pacific Community Ventures Investment Partners II, LLC
San Francisico
Pacific Community Ventures, Inc.
San Francisco
Pacoima Development Federal Credit Union
Lake View Terrace
Pasadena Development Corporation
Pasadena
Revolution Community Ventures, LLC
San Diego
Rural Community Assistance Corporation
West Sacramento
TELACU Community Capital
Los Angeles
Women"s Economic Ventures of Santa Barbara
Santa Barbara
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