Posts Tagged ‘Juliana Eades’
Wednesday, November 2nd, 2011
A New Hampshire community lender today received a $231,000 grant from the Create Jobs for USA Fund, a collaboration between Starbucks and Opportunity Finance Network (OFN). The money will help the New Hampshire Community Loan Fund (Community Loan Fund) create and sustain jobs in New Hampshire as part of a national campaign to support small, community businesses.
 The Community Loan Fund is one of just 28 community development financial institutions (CDFIs) in the nation to win a grant in the inaugural funding round. The grant was made possible by a $5-million seed contribution from the Starbucks Foundation. The Fund expects to raise tens of millions of dollars more, according to a spokesman, and 100% of these donations will go to CDFIs to finance underserved community businesses, and to help create and sustain jobs in underserved communities
Starting yesterday, the Create Jobs for USA Fund is collecting donations at www.CreateJobsforUSA.org and at nearly 7,000 company-operated Starbucks across the country. CDFIs that are OFN members will compete for these funds on a rolling basis.
“Create Jobs for USA is making it possible for Americans who have $5 to share help people who don’t have $5 to spare by creating and retaining jobs in their communities,” explained Mark Pinsky, OFN’s President and CEO. “The Community Loan Fund received this grant because it has demonstrated that it will provide financing that is good for community businesses and good for communities.”
The Create Jobs for USA campaign will benefit business owners like Brad Sterl Jr., CEO of Rustic Crust in Pittsfield. Sterl, one of the business owners featured on the Create Jobs for USA Web site, needed financing to expand his business but was turned down by traditional lenders.
A $500,000 loan from the Community Loan Fund’s Vested for Growth team helped Sterl get his artisan-quality, natural and organic pizza products into more stores and create nearly 20 new jobs in a depressed and job-needy area of New Hampshire.
“We’re pleased that Starbucks recognizes the important work that CDFIs are doing, and honored that the Create Jobs for USA Fund has made a first-round grant to us,” said Community Loan Fund President Juliana Eades. “Create Jobs for USA is unprecedented for the CDFI industry. It is shining a national spotlight on our work and will help the Community Loan Fund get New Hampshire’s small businesses the financing they need create and sustain jobs.”
Community development financial institutions (CDFIs) provide financing to community businesses in underserved markets where would-be community business owners may not qualify for credit from traditional lending institutions. Community businesses include small businesses, microenterprises, nonprofit organizations, commercial real estate developers, and affordable housing developers. All of these community businesses help to create and sustain local jobs.
For information about the Community Loan Fund’s Small-Business Loans, please go to http://www.communityloanfund.org/businessloans. Businesses located outside of New Hampshire can find a local CDFI lender at http://opportunityfinance.net/findacdfi.
Tags: Brad Sterl Jr., Create Jobs for USA Fund, Juliana Eades, Mark Pinsky, New Hampshire Community Loan Fund, OFN, Opportunity Finance Network, Rustic Crust, Starbucks, Vested for Growth
Posted in NH Business Matters | Comments Off on New Hampshire Community Loan Fund receives grant from Starbucks and Opportunity Finance Network’s “Create Jobs for USA” Fund
Friday, May 20th, 2011
The New Hampshire Community Loan Fund has received the highest possible rating for its social impact performance from CARS™, the CDFI Assessment and Ratings System. CARS helps investors and donors assess the creditworthiness and impact performance of Community Development Financial Institutions (CDFIs).
 NH Community Loan Fund President Juliana Eades and her dedicated staff are a force for positive change in the state of New Hampshire. CARS awarded the Community Loan Fund, a statewide nonprofit, the top grade – AAA – for its impact performance. The Community Loan Fund also earned the second-highest rating for its financial strength and performance and a “Policy Plus” designation for its work to improve government laws and policies on behalf of people and communities with low incomes.
The Concord-based Community Loan Fund turns investments into loans and education to create opportunity for people with low incomes. It collaborates with a wide range of donors and lenders, and with business, nonprofit and government partners, to provide the financing and support people need to have affordable homes, have quality jobs and child care, and become financially independent.
“This CARS rating is a real testament to the strength of the Community Loan Fund’s strategies and financial practices. It says that even through a recession that rocked financial institutions worldwide, the Community Loan Fund successfully helped people and communities with low incomes seize opportunities to transform their lives,” said Community Loan Fund Board Chair Ed Tomey, of Keene.
CARS was developed by the Opportunity Finance Network, the national association of CDFIs, and launched in 2004. “Socially responsible investors are attracted to CDFIs because they offer a unique blend of financial discipline plus positive social or economic impact in their marketplace,” said CARS director Paige Chapel.
National financial institutions such as Bank of America and Citi, and major philanthropic organizations including the Ford Foundation and the MacArthur Foundation, use CARS to identify investment opportunities.
The Community Loan Fund was the first CDFI evaluated in 2005, when the CARS system was still evolving, and has twice (in 2008 and 2011) duplicated its AAA rating with more-stringent evaluations.
“Three times now, outside evaluators have taken a rigorous look at what we do, how we do it, and our impact on New Hampshire families and communities. Three times they’ve given us a triple ‘thumbs up,’ ” said Community Loan Fund President Juliana Eades. “Their judgment reaffirms our financial strength and resilience as we’ve weathered this extreme recession with high-performing loans and effective technical assistance.”
The CARS rating signals to the Community Loan Fund’s supporters that “they can be assured that their donations and loans, which make our work possible, are creating the maximum social impact,” Eades said.
The 65 CARS-rated CDFIs represent about 11% of all CDFI Fund-certified loan funds. However, these rated institutions currently manage 30% of all on-balance sheet assets among certified groups.
Since 1983, the Community Loan Fund has loaned more than $144 million, leveraging more than $444 million for its projects.
Tags: Bank of America, CARS, Citi, Ed Tomey, Ford Foundation, Juliana Eades, MacArthur Foundation, New Hampshire Community Loan Fund, Opportunity Finance Network, Paige Chapel
Posted in NH Business Matters | Comments Off on NH Community Loan Fund Top-Rated for Social Impact
Wednesday, March 10th, 2010
New Hampshire businesses and nonprofit organizations are invited to submit proposals for low-interest loans for energy-efficiency improvements and renewable-energy projects.
 The Enterprise Energy Fund was created by a $3.5-million award to the Community Development Finance Authority (CDFA) by the Office of Energy and Planning‘s State Energy Program, from the American Recovery and Reinvestment Act. The fund is a low-interest loan and grant program to help finance energy improvements in buildings owned or leased by small, medium, and large businesses and nonprofits statewide.
Of the $3.5 million, $2.5 million will go to large commercial businesses and nonprofits. The remaining $1 million will be administered by CDFA’s partner organization, the New Hampshire Community Loan Fund, for small commercial businesses and nonprofits.
The majority of the funds will be loaned to businesses and nonprofits to help them reduce their energy costs and consumption. The loans will range from $10,000 to $500,000, with interest rates ranging between two and four percent.
A small portion of the fund will pay for energy audits, provide down payments on energy efficiency projects to businesses and to nonprofits that provide essential services and have been hardest hit by the recession, leverage significant private sector funds, and encourage investments in renewable energy.
 CDFA Executive Director Kathy Bogle Shields “We know that many businesses and nonprofits have been hit hard by the economy,” said Kathy Bogle Shields, CDFA Executive Director. “This Fund was designed to help reduce energy consumption and costs, in hopes that money can be redirected back into the business and spur economic recovery.”
“Small businesses and nonprofits operate with the thinnest of margins. They often can’t afford the up-front costs even for energy improvements that will pay for themselves in decreased costs,” said Community Loan Fund President Juliana Eades. “For some of them, the Enterprise Energy Fund may make those improvements possible.”
New Hampshire businesses and nonprofits, regardless of size, interested in performing energy-efficiency improvements or energy audits for their buildings are encouraged to complete the Initial Inquiry Energy Financing form on CDFA’s online grants management system at www.nhcdfagrants.org by April 30, 2010. All funds need to be awarded by April 2012.
CDFA, created by legislation in 1983, is a nonprofit public instrumentality of the State of New Hampshire. CDFA administers nearly $40 million in funding resources, which includes a combination of state tax credits and federal Community Development Block Grant, Neighborhood Stabilization, and Energy Reduction Funds. CDFA supports the development of vibrant and resilient communities by providing resources for community development efforts. For more information about CDFA and its programs visit www.nhcdfa.org or call 603-226-2170.
The Community Loan Fund turns investments into loans and education to create opportunity and transform lives across New Hampshire. It collaborates with a wide range of donors and lenders, and with business, nonprofit and government partners, to provide the financing and support people need to own homes, have quality jobs and child care, and become financially independent. Established in 1983, the Community Loan Fund was one of the first Community Development Financial Institutions in the nation, and has received industry awards and recognition for social impact, financial strength and performance. For more information, visit www.communityloanfund.org or call 603-224-6669.
Tags: Enterprise Energy Fund, Juliana Eades, Kathy Bogle Shields, New Hampshire Community Development Finance Authority, New Hampshire Community Loan Fund
Posted in NH Business Matters | Comments Off on Over $3 Million Available to Finance Energy Improvements
Wednesday, December 9th, 2009
Great news from the good folks over at the Community Development Finance Authority!
NEW ENERGY REDUCTION FUND
New Hampshire businesses and non-profit organizations can access new funds for energy efficiency improvements and renewable energy projects. The Community Development Finance Authority (CDFA) was recently awarded $3.5 million by the Office of Energy and Planning‘s State Energy Program, from the American Recovery and Reinvestment Act, to develop and implement a low-interest loan and grant program to help finance energy improvements in buildings owned by small, medium, and large businesses and non-profit organizations statewide.
Low-interest loans will be available for comprehensive energy improvements, which could include air sealing, insulation, replacing heating and cooling systems, renewable energy alternatives, and heat recovery systems. Grant funds are available for fuel blind energy audits and some other purposes.
“Our goal is to provide affordable financing to help businesses and non-profit organizations reduce their operating costs with the energy efficiency improvements,” said Kathy Bogle Shields, Executive Director of CDFA. “We look forward to working with our partners including the New Hampshire Community Loan Fund, Jordan Institute, Regional Development Corporations, Business Finance Authority, and Retail Merchants Association in order to create a program that will meet the needs of the businesses that are driving our economy and strengthening our communities.”
Of the $3.5 million in funds, $2.5 million will be for large commercial and industrial businesses and non-profit organizations. The remaining $1 million will be administered by the Community Loan Fund and for micro- and small commercial and industrial businesses and non-profit organizations. All businesses, large or small, seeking energy-reduction financing will apply through CDFA’s on-line system.
 “Our goal is to provide opportunities for employers to use capital to strengthen their organizations, the communities in which they operate, and the families they serve,” said Community Loan Fund President Juliana Eades. “These funds will allow even small businesses and nonprofits to explore energy improvements that will reduce their operating expenses for many years to come.”
The Energy Reduction Fund is currently being developed. It is anticipated that the application for funds will be available on CDFA’s website, www.nhcdfa.org, early in 2010. All funds need to be awarded by April 2012.
CDFA, created by legislation in 1983, is a nonprofit public instrumentality of the State of New Hampshire. CDFA administers nearly $40 million in funding resources, which includes a combination of state tax credits and federal Community Development Block Grant, Neighborhood Stabilization, and Energy Reduction Funds. CDFA supports the development of vibrant and resilient communities by providing resources for community development efforts. For more information about CDFA and its programs, visit www.nhcdfa.org or call 603.226.2170.
The Community Loan Fund turns investments into loans and education to create opportunity and transform lives across New Hampshire. It collaborates with a wide range of donors and lenders, and with business, nonprofit and government partners, to provide the financing and support people need to own homes, have quality jobs and child care, and become financially independent. Established in 1983, the Community Loan Fund was one of the first Community Development Financial Institutions in the nation, and has received industry awards and recognition for social impact, financial strength and performance. For more information, visit www.communityloanfund.org or call 800.432.4110.
Tags: American Recovery and Reinvestment Act, Business Finance Authority, Community Development Finance Authority, Jordan Institute, Juliana Eades, Kathy Bogle Shields, New Hampshire Community Loan Fund, Regional Development Corporation, Retail Merchants Association
Posted in NH Business Matters | Comments Off on Over $3M Available Through New Energy Reduction Fund
Tuesday, June 30th, 2009
The Community Loan Fund was notified today that it will receive a $2-million federal stimulus grant to help boost New Hampshire’s economic recovery.
 The grant, announced this afternoon by Treasury Secretary Tim Geithner, will enable the Community Loan Fund to make more funding available to manufactured housing communities and the homeowners who live in them, as well as to small businesses, child care providers and non-profit facilities.
The Community Loan Fund is a non-profit financial organization that turns investments from individuals and institutions into fixed-rate loans and education that create opportunity and transform the lives of people with low and moderate incomes across New Hampshire.
Community Loan Fund President Juliana Eades said news of the CDFI Fund award comes at an opportune moment.
“During tumultuous economic times, more families, small businesses and nonprofit housing developers look to us for capital,” Eades said. “This grant means another step toward meeting their needs. It will also improve our ability to attract additional funding and community partners.”
The grant will have a major impact in New Hampshire’s cities and towns. The Community Loan Fund estimates that the capital attracted by the federal dollars, combined with nearly 30,000 hours of technical assistance, will translate to more than $10 million worth of unique, non-bankable, fixed-rate lending per year.
The Community Loan Fund was among 59 Community Development Financial Institutions (CDFIs) in 26 states and Puerto Rico that received a total of $90 million in financial assistance in today’s announcement. Two million dollars was the largest grant.
News of the grant comes less than two weeks after Federal Reserve System Chairman Ben S. Bernanke publicly praised the role of CDFIs in spurring economic growth and development. In a speech to the Global Financial Literacy Summit in Washington, D.C., Bernanke said:
“These organizations have loaned and invested billions of dollars in our nation’s most distressed communities and have attracted many conventional investors into underserved areas. For small businesses in particular, CDFIs provide critical funding because many traditional creditors view such loans as too risky or, sometimes, too small to be profitable. As a complement to lending, CDFIs offer training and technical assistance to their customers, directly or through partnerships, thus increasing borrower capacity and mitigating loan risk. Successful CDFI borrowers often graduate to conventional financing as their needs grow, thereby attracting the participation of mainstream lenders while freeing up CDFI resources to plant new seeds in the community.”
The CDFI Fund program invests in and builds the capacity of a nationwide network of community-based financial institutions with a primary mission of community development in economically distressed urban, rural, and Native communities. The CDFI Fund receives applications on an annual basis and awards funds through a competitive process. For more information, visit http://www.cdfifund.gov.
The Community Loan Fund collaborates with a wide range of business, nonprofit and government partners to provide the fair loans and support people need to own homes, have quality jobs and child care, and become financially independent. Established in 1983, the Community Loan Fund was one of the first Community Development Financial Institutions in the nation, and has received industry awards and recognition for social impact, financial strength and performance. For more information, visit http://www.theloanfund.org or call (603) 224-6669.
Tags: Ben S. Bernanke, CDFI, Juliana Eades, New Hampshire Community Loan Fund, Tim Geithner
Posted in NH Business Matters | Comments Off on Psssstttt….Small Business Grant Opportunity
|
