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Statement from CDFI Fund Director Gambrell on 51 Certified CDFIs Receiving Over $104 Million in Small Business Lending Fund Awards
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September 28, 2011

Washington, DC - U.S. Department of the Treasury today announced the seventh and final wave of funding provided through the Small Business Lending Fund. This includes 51 certified Community Development Financial Institutions (CDFIs) that received an aggregated total of $104,279,000. Treasury released the term sheet and other application materials needed by Community Development Loan Funds to access this lower-cost capital on May 26, 2011.

Community Development Financial Institutions Fund Director Donna J. Gambrell issued the following statement:

"The Small Business Lending Fund was created to spur investments in small businesses, a priority of CDFIs across the country. I am proud of the strong performance of certified CDFI Loan Funds under this program, which demonstrates that the basic tenets of operation that CDFIs employ every day – focusing investments in job creation opportunities, encouraging the growth of small businesses, and targeting economic growth where it is most needed – are key to this nation’s economic recovery."

Institution Name

State

Amount Funded

Appalachian Community Enterprises, Inc.

GA

$188,000

Boston Community Loan Fund

MA

$4,410,000

Bridgeway Capital, Inc.

PA

$1,820,000

Building Hope…A Charter School Facilities Fund

DC

$2,091,000

California Coastal Rural Development Corporation

CA

$870,000

Capital Link Inc.

MA

$198,000

CEN-TEX Certified Development Corporation

TX

$489,000

Charleston Citywide Local Development Corporation

SC

$1,000,000

Citizen Potawatomi Community Development Corporation

OK

$490,000

Coastal Enterprises, Inc.

ME

$2,316,000

Colorado Enterprise Fund, Inc.

CO

$463,000

Community First Fund

PA

$862,000

Community Loan Fund of the Capital Region, Inc.

NY

$478,000

Community Reinvestment Fund, Inc.

MN

$5,100,000

Community Ventures Corporation

KY

$1,045,000

ECDC Enterprise Development Group

VA

$320,000

Economic and Community Development Institute, Inc.

OH

$203,000

Enterprise Community Loan Fund

MD

$8,817,000

Federation of Appalachian Housing Enterprises, Inc.

KY

$2,063,000

Forward Community Investments, Inc.

WI

$470,000

Greater New Haven Community Loan Fund, Inc.

CT

$525,000

IFF

IL

$8,294,000

Impact Seven, Inc.

WI

$4,000,000

La Fuerza Unida Community Development Corporation

NY

$42,000

Leviticus 25:23 Alternative Fund, Inc.

NY

$750,000

Low Income Investment Fund

CA

$7,490,000

Lowcountry Housing Trust

SC

$392,000

Midwest Minnesota Community Development Corporation

MN

$4,600,000

Montana Community Development Corporation

MT

$585,000

Mountain BizCapital

NC

$197,000

NCB Capital Impact

VA

$8,218,000

Nebraska Enterprise Fund

NE

$197,000

Nonprofits Assistance Fund

MN

$686,000

Northeast South Dakota Economic Corporation

SD

$1,000,000

Northside Community Development Fund

PA

$250,000

OBDC Small Business Finance

CA

$219,000

Opportunity Fund Northern California

CA

$2,236,000

Partners for the Common Good, Inc.

DC

$1,009,000

PeopleFund

TX

$500,000

Primary Care Development Corporation

NY

$4,000,000

Rural Community Assistance Corporation

CA

$4,300,000

Rural Electric Economic Development, Inc.

SD

$1,230,000

Seedco Financial Services

NY

$2,500,000

ShoreBank Enterprise Group, Pacific dba Enterprise Cascadia

WA

$1,867,000

South Eastern Development Foundation

SD

$240,000

The Progress Fund

PA

$1,052,000

The Reinvestment Fund, Inc.

PA

$11,708,000

Valley Economic Development Center, Inc.

CA

$661,000

Vermont Community Loan Fund, Inc.

VT

$1,247,000

Western Massachusetts Enterprise Fund, Inc

MA

$200,000

Wisconsin Women's Business Initiative Corporation

WI

$391,000

Total

51

$104,279,000

Click here for more information on today’s announcement by Treasury.

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