CCLF experienced a tremendously successful 2017. CCLF’s operational achievements and our social impact outputs have increased significantly compared to last year. The number of housing units created or retained jumped from 424 to 1,275, commercial real estate and community facility space rose from 38,125 sq. ft. to 415,745 sq. ft. and the number of jobs created or retained by our borrowers increased from 141 to 1,289. CCLF will end the year with total assets of $80 million; a new milestone for
CCLF collaborated with many partners, investors and funders to get capital to areas of most need and has many success stories. Some of the 2017 highlights include: CCLF (1) hit its lending goals with all core lending while maintaining credit quality; (2) was awarded an $866,500 Financial Assistance award from the CDFI Fund; (3) improved its Aeris rating to AA- ***(4) exceeded TA goals even while re-tooling the program; (5) launched the Chicago Neighborhood Rebuild Training Pilot Program to rehab affordable housing in three high crime areas while providing job training to youth and ex-offenders; (6) achieved a record level of media attention for CCLF and its borrowers and investors; (7) began implementing its new 2017-2020 strategic plan that includes a new liquidity management plan, new Technical Assistance workshops, new Social Impact Metrics Study and grow assets to $100 million to create greater impact in the Chicago Region.
We thank our internal and external partners for helping us achieve so many successes. We are dedicated to making 2018 another highly effective year.