History
CCLF was founded in 1991 by a small group of Chicago investors, with an initial investment of $200,000. It has since grown to more than $21 million in total capital under management. The fund's loan history comprises 160 loans totaling over $36 million. The fund has been led by executive director Calvin Holmes since 1998.
In 2009, CCLF was a recipient of the MacArthur Award for Creative and Effective Institutions, and will use its $500,000 award to enhance its current lending in low-income communities and encourage the incorporation of sustainable building technologies into community development strategies and projects.
At a celebration to mark 20 years of CCLF's existence, Chase Bank announced a $2 million permanent capital award. This partnership with CCLF would support the increase in demand for CCLF’s lending to community development organizations throughout the Chicagoland area and channel critical financing to communities in need and borrowers who can make a difference.
Read more about this topic: Chicago Community Loan Fund
Famous quotes containing the word history:
“The history of all hitherto existing society is the history of class struggles.”
—Karl Marx (1818–1883)
“It’s nice to be a part of history but people should get it right. I may not be perfect, but I’m bloody close.”
—John Lydon (formerly Johnny Rotten)
“The history is always the same the product is always different and the history interests more than the product. More, that is, more. Yes. But if the product was not different the history which is the same would not be more interesting.”
—Gertrude Stein (1874–1946)