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Illinois Facilities Fund, The
Chicago ILCDFI Awards for Illinois Facilities Fund, The
FA (2008) - $1,000,000
IFF is a nonprofit community development financial institution (CDFI) established in 1989, whose mission is to assist nonprofits serving low-income and special needs. Its loans finance the acquisition, construction and rehabilitation of community facilities such as health care clinics, child care centers, charter schools, and housing and services for the mentally ill, all in low-income communities in Illinois, Iowa, Wisconsin, Missouri and Indiana. IFF will use the 2008 Financial Assistance award of $1,000,000 to provide the net assets needed to leverage debt capital for the geographic expansion of its loan program.
FA (2006) - $585,000
The Illinois Facilities Fund (IFF) is a certified CDFI established in 1988. IFF is the largest CDFI in Illinois and provides below market real estate loans to nonprofits serving low-income populations or areas. IFF will use a 2006 Financial Assistance Award of $585,000 to expand its lending services to five metropolitan areas with sizeable low-income communities: Gary/Hammond, Indianapolis, Milwaukee/Kenosha, Quad Cities, and St. Louis.
TA (2004) - $50,000
Illinois Facilities Fund will use the award to offset costs of a market analysis, capitalization strategy, website analysis and design, and website programming.
FA (2004) - $410,000
Illinois Facilities Fund (IFF) will use the award to support the addition of a Affordable Housing Development product; and $35,000 in Technical Assistance to fund technology upgrades. 100% of the award will be used in Hot Zones.
FA (2003) - $750,000
The Fund"s $750,000 award will allow IFF to continue financing child-care facilities in low-income areas, an area of expertise for IFF; and to launch a new housing loan product targeted outside of Chicago, to the growing low-income suburban cities and to other cities throughout Illinois where affordable financing for housing projects may not be readily available. IFF projects over the next three years it will finance 12 new child-care development and expansion projects; and nine housing projects, for both single-family and multi-family affordable housing. Approximately 17% of this award will be targeted to Hot Zones.
NMTC (2002) - $10,000,000
IFF will utilize its NMTC allocation to: 1) increase both the number and the size of loans to nonprofit businesses located in low-income census tracts; 2) launch a program of equity investments in nonprofit businesses; and 3) increase the scope of its financial counseling services to borrowers and investees.
CORE (2002) - $2,000,000
The award to IFF will be used to increase the menu of products and services it provides to non-profit organizations that serve low-income families throughout Illinois.
SECA (2000) - $50,000
The technical assistance award will be used to upgrade and integrate IFF's information technology and for staff training.
CORE (2000) - $2,000,000
The CDFI Fund"s $2,000,000 capital grant will assist IFF in continuing its support of Illinois nonprofits.
CORE (1998) - $2,500,000
IFF will use the capital grant to expand its current operations, develop new programs focused on funding community health care and child care facilities, expand its real estate consulting/technical assistance services, and expand its real estate management capacity.
CORE (1996) - $900,000
The CDFI Fund will provide IFF with a $900,000 grant. This substantial investment will help build upon their strong track record and add to their net worth resulting in greater ability to create community impact through their unique lending focus.
Other Community Development Financial Institutions in Illinois
ACCION Chicago
Chicago
Bethel New Life, Inc
Chicago
Chicago Community Ventures
Chicago
Chicago Development Fund
Chicago
Community Revitalization Fund, Inc.
Hoffman Estates
IBC Bancorp, Inc.
Stone Park
IBC Community Development Corporation
Stone Park
Illinois Ventures for Community Action
Springfield
NAB Bank
Chicago
Peoples Economic Development Corporation
Mount Vernon
PGB Holdings, Inc
Chicago, IL
Sable Bancshares, Inc.
Chicago
The Valued Advisor Fund, LLC
Chicago
Urban Development Fund, LLC
Chicago
Urban Enterprise Fund
Chicago
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